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What we do: We invest
Continually improving retail and service standards in our pubs is vital to Punch Taverns and our licensees. Pub development is a primary way to achieve this goal - Punch Taverns invested £46 million on enhancing over 750 pubs in the 28 weeks to 1 March 2008.
All developments are project managed and funded in partnership with our licensees, from small investments to brighten up a pub, to major projects which include structural changes and building work.
The lifecycle of a typical pub refurbishment scheme is as follows:
- Investment opportunities are explored on completion of a business plan, profit and loss forecast, and cash flow forecast by the licensee
- Feasible opportunities are progressed to a design presentation stage within eight weeks of receiving the licensee's completed business plan
- Following design approval by the licensee, the costs for the proposal will be established and any statutory approval applications made
- Punch Taverns will approve or decline the proposal within four weeks of receiving final costs
- For all investments over £30k, licensees and their staff receive investment support training to help them maximise the opportunities presented by their newly improved facilities
- Two weeks before work starts, we hold a pre-contract meeting which seeks to ensure that the licensee is happy with the final design, the programme of works and the financial commitment to the project
- Throughout the refurbishment programme, our Project Managers hold regular site meetings with the licensee to ensure that they are totally satisfied with how the development is progressing
- On completion of the project there will be a formal handover meeting, followed by a review meeting within two weeks
- Within eight weeks of completion the support team will have a structured review meeting to monitor progress to the business plan
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