by Ewan Turney
Mitchells & Butlers franchisee Jon Bassett of the Queen's Vault in Cardiff has been awarded a cheque for £3,000 after finishing runner-up in the Franchisee of the Year Awards.
The national awards ceremony, organised by the British Franchise Association, took place last week in Birmingham with Bassett just missing out on first place to the joint winners: business design and print specialist, Kall Kwik in Ruislip, Middlesex, and the Rosemary Conley Diet & Fitness Club in Quorn, Leicestershire. 'I am absolutely delighted because every time you open the paper there is something bad about the licensed trade in it,' said Bassett, who was the pub industry's only representative at the awards.
'I've tried to create a community feel in the town centre. It has a local following and we are big enough to do well on match days as the pub is close to the Millennium Stadium.'
Bassett had been a M&B manager for 14 years before taking over the franchise. He managed to return his initial set-up cost of £30,000 within 12 weeks and by the end of they year had returned nearly 500% on his investment. As a franchise, the pub's turnover was up 71% from the previous year as a managed house. Judges said Bassett had managed to 'build customer loyalty' and given the pub a 'specific identity' while offering 'extremely competitive food and drinks offers'.
The franchise has proved so successful for Bassett he has recently taken on another in London - the Golden Egg on Kilburn High Road.
'We are expecting a combined turnover of £2m from the two pubs next year,' he said. 'You get a good purchasing deal through the franchises.'