The Wheatsheaf Reverse Tab
Due to COVID-19, recent closure and spiralling costs; coupled with a decrease in capacity and current trade levels, the pub is facing a challenge to remain open. Much has been done to reduce costs, streamline the business and plan ahead to assist the business’s survival. Following village support, a ‘reverse tab’ idea was put forward and agreed as the best course of action to keep the pub running through these difficult times.
To aid implementation of this idea, we will be accepting ‘reverse tab’ payments from Monday 3rd August following our current month end of trading.
WHAT IS A REVERSE TAB:
A ‘reverse tab’ is where customers can pay any amount they wish in advance to have a drawdown bar tab that they can use anytime in the near future. This is a great idea and opportunity to support the pub knowing you have a readily available tab to spend on your favourite drink or food. There are no limits, simply pay for a tab that fits you and your circumstances, then enjoy using it!
HOW IT WILL WORK:
You can access drawdown immediately but we ask that 50% of your tab/account remains within the business as working capital and that you top up your account when this level is reached if you are able. This will keep much needed cash flow in the business and enable it to overcome the current operating environment challenges. Our hope is that it allows trading to reach the potential upturn needed before removing the cash from the business.
THE INNER WORKINGS:
POP IN/RING TO SETUP A TAB ⏩ VISIT & ORDER FOOD/DRINK OFF YOUR TAB ⏩ SIGN/CHECK YOUR BILL ⏩ GO HOME HAPPY
It’s easy… Some mandatory details will need to be given via a quick and easy written form which will be stored within our till system. Once drawing on the tab, every transaction will go through the till and a receipt printed to sign and leave on site and one produced to take home. This will help prevent any issues and if patrons leave without signing off their bar bills then they do so at their own risk. Unfortunately, the pub will NOT take responsibility for items challenged against the bill/tab if it is not checked before you leave.
FINALLY – THANK YOU FOR YOUR CONTINUED SUPPORT:
The ‘reverse tab’ is by no means mandatory, please do come and visit the pub regardless. Word of mouth, promoting frequent use of the pub and getting “bums on seats” is the best way to revive the fortunes of the pub and pull it out of the pandemic hole it’s been forced into. The pub will continually review trading business both weekly and monthly to ascertain cash flow and assess operating progress. With everything that is going on at present the pub needs customers and your support more than ever…
Many thanks in advance from us all at the Wheatsheaf for your amazing support, generosity and faith.