Managing a pub is one thing, but running your own leasehold pub business is a different challenge altogether.
Nevertheless, it’s a challenge Punch retailer Niki Hackett fully embraced when her pub, the Old Cock Inn in the picturesque town of Harpenden, Hertfordshire, came onto the leased market ten months ago.
The Old Cock was the first of the former Spirit Group pubs acquired by Punch in 2006 to be converted to lease. Niki had been the manager there for 13 years and although initially interested in the vacancy thought long and hard before making an actual application.
She said: “It was quite unsettling when my pub was identified as one to be converted. Soon enough there were viewing days arranged and plans being submitted. Nobody knew the Old Cock better than me, but I had to be sure if I did stay on it was because of the strength of the business proposition and not my sentimentality.
“My partner runs his own business and was very supportive and encouraging. He felt sure I could make it work and said if I walked away I would probably regret the decision at a later date.”
Niki took time to seek independent advice about the lease from both an accountant and a solicitor.
She said: “I know about running pubs, I’ve done that all my life. But I’m not a legal expert so getting professional advice was essential. My solicitor went through the agreement with a fine-tooth comb and was impressed with how Punch had put everything together.
“My application went in and I was thrilled – not to mention relieved – when Punch confirmed it was the best and the lease was mine.”
Niki starting leasing the Old Cock on 24 May, just in time to begin promoting the World Cup finals.
She said: “The timing could not have been better and we had a fantastic first few weeks of trading. There are some constraints when you manage a pub for someone else, but now I was my own boss and could promote this and other events exactly how I wanted to.
“I did have a bit of a reality check a few months later when planning for Christmas. As a manager I was used to receiving a kit, complete with menus, posters, decorations and so on. This year, of course, there was no kit and I quickly realised I had to arrange everything myself.”
Not that Niki need have worried – a menu prepared with the help of two top London chefs who happen to live over the road, plus a series of parties held in outdoor marquees with entertainment from a Tom Jones sound-alike, ensured 2006 was the Old Cock’s most successful Christmas to date.
And with the New Year come new plans. Niki feels settled and confident in her position as leaseholder and wants to start introducing new things.
She said: “I made a conscious decision to change very little about the pub in the first few months. Customers liked the product offer and our retail standards have always been strong.
“My priority was to familiarise myself with everything behind the scenes that managers don’t necessarily get involved with, such as finding and paying suppliers, or dealing with staff wages.
“Now I feel ready to experiment a bit. With the smoking ban approaching, I want to develop a smoking garden and get a new menu prepared with a greater emphasis on outdoor dining.
“I have also planned several special events to increase trade, including a disco with ‘Paddyoke’ and prize draws for St Patrick’s weekend.”