The life of a pub licensee has always been one of long hours and hard work, for relatively modest reward. However the recent cost of living crisis, coupled with sky high energy prices, has for some, taken away the prospect of running a viable business.

Faced with rising staff wages, higher costs and customers having less money to spend, many licensees have are looking to quit their pubs and find different careers. Mike Smith, Director at Stocktake UK explains how becoming a stocktaking franchise offers new career opportunities in the pub trade.

The licensing trade today

While the UK hospitality sector faces challenging times, it remains one of the country’s most robust industries, employing more than 3.5 million people, adding more than £90 billion to the UK economy, and being one of the fastest growing sectors within the economy[i]. However, for pubs and nightclubs, issues like the cost-of-living crisis, plus changing attitudes from customers, who are wanting better service and increased value for money, have bitten hard. In the last 16 years, the country has lost a quarter of all its pubs and a third of all nightclubs. The good news being that ONS statistics show that the business these lost pubs was doing, has been redistributed to those remaining [ii]. Indeed, to survive, many pubs have had to completely rethink their business strategies, changing from traditional locals into gastropubs.

Demand for Stocktakers

Though the majority of UK pubs are weathering the current economic climate and adapting to changing behaviours, they are also working with narrower profit margins. This has forced landlords to find better ways to manage their inventory, reduce waste and improve margins. As a result, there has been a significant increase in the demand for stocktaking services within the industry. Given more effective means of keeping track of their stock levels, licensees and other hospitality managers can make more informed purchasing decisions, prevent issues like over and understocking and fulfil demand without wastage.

Stocktaking Franchise Opportunities

With the market for stocktaking on the rise, a stocktaking franchise offers former licensees a new opportunity to start a stable business with genuine prospects of growth. The franchise programme at Stocktake UK gives licensees a new way to make use of their skills and experience while working in an industry they know well. It also offers the chance to make a good living, with average franchisees turning over around £50K per annum and leading partners having revenues exceeding £125K.

The other attraction for many former licensees is the change in lifestyle a franchise brings. Instead of the long days, late nights and weekends endured by landlords, stocktaking franchisees have the flexibility to arrange their schedules to suit their own needs, ensuring they have a better work-life balance and more time for themselves.

Becoming a Franchise Owner

For experienced licensees wanting a new direction, becoming a franchise owner is a unique opportunity to set up a business in the industry in which they have valuable expertise. When joining Stocktake UK’s national network of professional stock auditors, no prior stocktaking experience is needed as full training, including everything from business management best practice to using stocktaking software, is included. Franchisees also receive all the equipment they need and benefit from continuous support and regular leads.

A leading provider of professional stocktaking services to pubs and the wider hospitality industry, Stocktake UK works with a wide range of clients, from small independent venues to regional pub chains and celebrated hotel groups.

For more information, visit Stocktake UK.

 

[i] https://www.ukhospitality.org.uk/media-centre/facts-and-stats/

[ii] https://www.ons.gov.uk/businessindustryandtrade/business/activitysizeandlocation/articles/economiesofalesmallpubscloseaschainsfocusonbigbars/2018-11-26