ACCOUNTANCY

Innside Track

All you need to know about Star Pubs & Bars' Innside Track agreement

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What is Innside Track?

This is the standard agreement when you take on a tenancy from Star Pubs and Bars. Essentially it packages all the tools you need to successfully run your pub business into one. From accountants and stocktakes to an EPOS till system, Innside Track pulls together the support you need.

These suppliers are carefully selected to ensure they offer the best service and support

What part do Roslyns play?

Roslyns provide the stocktaking service to all Innside Track pubs and we are also a provider of the accountancy service nationally.

What do I get and

how much does it cost?

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Accountancy:

From your chosen provider

  • Registration for PAYE, VAT, MGD etc as required

  • Bookkeeping

  • Monthly management accounts

  • End of year accounts

  • Tax returns

  • Including self assessment tax

  • Support and meetings with your accountant's Business Development Manager

  • Joint meetings with your accountant's BDM and your BDM from Star Pubs & Bars

Stocktaking:

Provided by Roslyns Stocktaking

  • Stock valuation on handover day where required

  • Full monthly stock audit

  • Including food if >£500 p/w

  • Report on the day

  • Full report including action plans to improve stock results.

  • Meeting with stocktaker after completion to discuss result.

EPOS:

Provided by Microtill

  • Modern EPOS till system

  • Till support

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Regular support meetings with your accountancy company and your Star BDM are just part of the benefits of Innside Track.

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Monthly stocktakes will help you to track product performance and regularly examine profit margins and pricing.

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Your EPOS system will be a modern system with support from the experts at Microtill

If the pub company know my profit, they'll put my rent up!


Nope. Your rent is set for the period of your agreement based on a split of the expected profits. The pub company can't put the rent up mid-agreement. In fact, when it does come time for your scheduled rent review, all parties knowing if the business is thriving or in difficulty is a good idea. Remember, if you get into trouble and ask your pub company to support you with wholesale price cuts, rent concessions etc, the first thing they'll need to do is check your accounts to see how bad things are, and what support will work best. Open book accounting often works in the operator's favour. The idea that the pub company will try and up your rent at the drop of a hat is an old fashioned problem. Regulation and modern business practise have thankfully made this a thing of the past.




If I use an Innside Track stocktaker, will they tell Star if I buy out?


We never recommend buying stock out of an agreement contract as doing so will destroy the relationshsip between you and your pub company, as well as meaning fines that wipe out any benefit. For a stocktake to be accurate, your stocktaker needs to report the facts to you, otherwise it is pointless. You see the stock result as can your BDM from Star. Basically, if you're already thinking about scams ... the pub might not be right for you.




If I take another pub that is not with Star, they will see it too


Again, nope. Another thing to tick off the worry list. If you have a tenancy on 'The Dog and Duck' with Star through Innside Track, that is totally seperate from you having a second tenancy with Admiral at 'Kings Arms', even if you use the same limited company/sole trader. Even when you use the same accountant, the only infromation Star would ever see would relate to their site, no other.




It is a nightmare to change accountants, especially before my year end


Not at all. This is a pretty standardised process. You just let your previous accountant know, and make sure your payments to them are up to date. Then your new accountant gets in touch with your previous accountant who sends all the data they have over. This information then forms the basis for continuing your accounts as they were. There should be no reason for any disruption or delays.





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If the pub company know my profit, they'll put my rent up!


Nope. Your rent is set for the period of your agreement based on a split of the expected profits. The pub company can't put the rent up mid-agreement. In fact, when it does come time for your scheduled rent review, all parties knowing if the business is thriving or in difficulty is a good idea. Remember, if you get into trouble and ask your pub company to support you with wholesale price cuts, rent concessions etc, the first thing they'll need to do is check your accounts to see how bad things are, and what support will work best. Open book accounting often works in the operator's favour. The idea that the pub company will try and up your rent at the drop of a hat is an old fashioned problem. Regulation and modern business practise have thankfully made this a thing of the past.




If I use an Innside Track stocktaker, will they tell Star if I buy out?


We never recommend buying stock out of an agreement contract as doing so will destroy the relationshsip between you and your pub company, as well as meaning fines that wipe out any benefit. For a stocktake to be accurate, your stocktaker needs to report the facts to you, otherwise it is pointless. You see the stock result as can your BDM from Star. Basically, if you're already thinking about scams ... the pub might not be right for you.




If I take another pub that is not with Star, they will see it too


Again, nope. Another thing to tick off the worry list. If you have a tenancy on 'The Dog and Duck' with Star through Innside Track, that is totally seperate from you having a second tenancy with Admiral at 'Kings Arms', even if you use the same limited company/sole trader. Even when you use the same accountant, the only infromation Star would ever see would relate to their site, no other.




It is a nightmare to change accountants, especially before my year end


Not at all. This is a pretty standardised process. You just let your previous accountant know, and make sure your payments to them are up to date. Then your new accountant gets in touch with your previous accountant who sends all the data they have over. This information then forms the basis for continuing your accounts as they were. There should be no reason for any disruption or delays.





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WHAT PEOPLE SAY

While I have a reasonable knowledge of finance and accounting, my first 4 months trading produced losses each month along with a Wet GP averaging 48% vs a budget of 58% over this period.

When my contract with STAR which included Innside Track kicked in on month 5 and I began to receive monthly Stocktakes and Management accounts from Roslyns I moved immediately from a position where my business was technically bankrupt to showing a profit each month.

The improvement in the Pub’s financial performance was directly related to my Roslyns BDM, Stock taker and STAR BDM who guided me and my business through the fundamentals and formulas along with their experience in the trade I was able to tap into their vast knowledge of potential Red flag issues and explored tested practices resulting in an increase of Yield from 70% average to constantly achieving 100% and with the wet GP moving from an average 48% to 63%.

... I now love going onto my Roslyns Portal and seeing my risk reduced from high risk to low risk.

Kazik : Royal George (Star Pubs & Bars)

I just wanted to say, again, thank you all for your hard work.

You guys rock.

I don’t think people appreciate how much you guys do to keep our businesses running in the background. As a business of less than a year old, it’s suppliers like yourselves that literally keep us moving.

Thank you so much for all your support. What a great team of people.

Couldn't get through this without you! Thank you all.

 

Katie: Globe Inn (Star Pubs & Bars)

I have used Roslyns as part of Innside track for over 2 years as part of my Business Start up agreement with Star pubs and bars.

The service has been excellent. Being new to business they have always been on hand to assist me and ease my concerns making life that little bit more easier as a new business.

I would recommend Innside track and wish to thank them for helping make my first years in business easier.

Tracey : Unicorn Inn (Star Pubs & Bars)

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As a Roslyns Business Development Manager I have found Innside Track to be incredibly helpful for our Star Pubs & Bars clients.

The transparency means that all stakeholders in the business can have open and frank discussions. Innside Track means that we aren't chasing anyone for accounts or stock reports, it is all there and in one place for us to use when advising our publican clients. My aim is to make sure the pub is making a good living for our clients, Innside Track definitely helps me do this.

 

Ben Darwin: Business Development Manager (Roslyns)

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Are you looking for more information about how Roslyns support Star Pubs & Bars' Operator Managers through the Just Add Talent contract?

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