A Day in the Life of a Business Development Manager (Greene King)
This is the account of a PCA staff member accompanying a Greene King Business Development Manager to observe their day-to-day activities in the role.
It was an early spring day when I had the opportunity to shadow Greene King Business Development Manager (BDM), Phil Venables, as he met with tied tenants at two pubs he oversees in Central London. Phil, one of around 20 BDMs who look after Leased and Tenanted pubs within Greene King, is an old hand in the industry. He started cleaning snooker tables at a private members club 27 years ago and has not been out of hospitality since.
Over coffee, Phil kindly took the time to outline his role before we met Ibrahim, the tied tenant at TCR Bar on Tottenham Court Road. Ibrahim operates three pubs alongside other hospitality ventures, including restaurants and coffee shops. Our visit set the tone for a busy day of walking, talking and, most importantly, lots of listening.
TCR Bar
Phil and Ibrahim first discussed dilapidations. They then talked about the impact of recent business rates changes on TCR Bar, including the ending of rates relief and how Greene King might support Ibrahim in addressing the financial impact.
The discussion then moved on to year-on-year sales comparisons for TCR Bar, both against its own prior performance and wider industry trends, as well as the challenges posed by changing consumer behaviour and reduced office footfall in urban locations. While not directly Code-related, these factors influence revenue and profitability, which in turn inform valuations and rent discussions.
During the visit, Phil demonstrated a financial modelling tool he developed last year to support discussions with tenants about business performance. Initially created to help tenants better understand the drivers of revenue and profit, the tool has since been adopted more widely by other Greene King BDMs. It enables inputs such as staffing costs, product pricing, annual sales data and projected volumes to be modelled, allowing Phil and his tenants to test scenarios, anticipate challenges and consider adjustments before potential issues arise. The tool is used as an informal support aid and sits separately from any formal or statutory processes required under the Pubs Code, including those at the start of a tenancy or at rent review.
This prompted discussion around potential beer product swaps, food options, bar yield (including wastage), the suitability of gaming machines for TCR Bar and the hidden cost of sundries which can eat into profits if not managed properly. Throughout, Phil made diligent notes in his paper notebook with the intention of uploading them into Greene King’s BDM support app, which automatically generates a copy for the tenant and ensures the notes are shared with them within 5 days, well ahead of the 14 days required by Regulation 41 the Pubs Code.
As we headed south of the river for our second visit, Phil and I continued our conversation about his role and the operation of the Pubs Code.
Tenant Paul with BDM Phil
Our second stop was The Three Stags in Kennington, a historic pub, now gastropub, where the exterior retains a carved Charrington’s sign, a legacy from the building’s former ownership. It occupies a commanding corner plot opposite the Imperial War Museum and has big, old-fashioned windows making both the ground floor drinking area and the upstairs restaurant bright, welcoming spaces even on an overcast day.
The current tenant Paul, like Ibrahim, operates three pubs, two with Greene King and one with an operator which isn’t subject to the Pubs Code. Paul noted that, in his experience, Greene King is the more responsive company to deal with; offering a useful comparison between regulated and unregulated pub company behaviour. Paul, a highly experienced operator, is two years into a ten-year tenancy at the Three Stags. This tenancy is subject to the Investment Exception under regulation 56 of the Pubs Code which applies where a pub company has made a significant financial investment in a site. In this case, the Three Stags benefited from substantial capital investment and remodelling following the departure of the previous tenant. As a result, Paul is temporarily restricted from requesting a Market Rent Only (MRO) option, allowing the pub company a period to recover the cost of the investment
Paul also operates the award-winning and historically significant Mayflower for Greene King in Rotherhithe. As a result, discussions with Phil covered both pubs during the afternoon, including opportunities to generate sustainable margins across drinks, food and snacks, alongside wider economic changes and the impact of fluctuating weather patterns. The conversation also covered competition from Free Houses and the challenge of balancing the needs of regular customers with those of more transient trade such as tourists.
The 3 Stags Bar
Paul is entering the final year of his current lease at the Mayflower, so Phil then turned to the lease renewal process. Both parties are keen to do a deal as they agreed that the current arrangements are working. They also discussed the recently completed dilapidations report, including the repairs and upgrade works identified, and whether responsibility for each sat with the tenant or landlord. Paul also mentioned that he has been doing his own reconnaissance around other pubs in Bermondsey to get a sense of the market and to compare similar pubs when negotiating his rent.
As he had done earlier in the day, Phil read back a summary of the discussion and agreed actions before we left, ensuring that nothing raised during the meeting had been missed from his record.
The PCA team would like to thank Phil for his insight and assistance throughout the day. It was an enjoyable opportunity to speak with two very different operators and gain valuable insight into the industry, particularly how pubs aim to balance the needs of tenants, landlords and customers so that everyone in what Phil described as a ‘value triangle’ benefits and gets a fair deal.