ChatterBank0 min ago
Another Reason Cameron Lost?
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treating voters like kids was never going to work Dave.
treating voters like kids was never going to work Dave.
Answers
Mr Martin makes a very good point. It is very true that the UK has not yet left the EU and the full implications and effects are yet to be felt. However, there were dire warnings, not least from Mr Cameron, of the “immediate consequences
10:38 Sat 10th Sep 2016
// Mr Martin said: "By pushing up the cost of wages by a large factor, the Government is inevitably putting financial pressure on pubs, many of which have already closed." //
Over the last 10 years (starting with the last Labour Government), we have moved to a low wage economy. Thst means many workers on Zero hours contracts, minimum wage, resulting in no, or very little disposable income. Whilst Tim Martin sees increases in their minimum wage as bad for his business, giving people a little more of their income to spend is good for the economy.
Wetherspoons specialises in no frills, cheap beer. Perhaps if his customers had more money, they would choose something a little less basic. His business model only works if a large number of the working public have little spending money.
Over the last 10 years (starting with the last Labour Government), we have moved to a low wage economy. Thst means many workers on Zero hours contracts, minimum wage, resulting in no, or very little disposable income. Whilst Tim Martin sees increases in their minimum wage as bad for his business, giving people a little more of their income to spend is good for the economy.
Wetherspoons specialises in no frills, cheap beer. Perhaps if his customers had more money, they would choose something a little less basic. His business model only works if a large number of the working public have little spending money.
"His business model only works if a large number of the working public have little spending money. "
His business model works because he provides what people want. Visit a 'Spoons in Central London and you will find many "suits" eating and drinking there. Visit the one behind the Law Courts in Chancery Lane (the Knights Templar) and you will see many people from the surrounding "chambers" in for a quick lunch. Visit Hamilton Hall in Liverpool Street Station to see all manner of people who work in the local banks and commercial businesses. They do not rely on people who have little or no money to spend. Visit a branch in a tourist town and you will find a wide variety of clientele across all social groups.
Pubs do not usually attract "fine diners".There are plenty of places to go if you want that. Pubs attract people who want a "pie and a pint" and to attribute Wetherspoons' success to the fact that its customer base is composed principally of people who are (allegedly) poor shows a remarkable lack of insight.
His business model works because he provides what people want. Visit a 'Spoons in Central London and you will find many "suits" eating and drinking there. Visit the one behind the Law Courts in Chancery Lane (the Knights Templar) and you will see many people from the surrounding "chambers" in for a quick lunch. Visit Hamilton Hall in Liverpool Street Station to see all manner of people who work in the local banks and commercial businesses. They do not rely on people who have little or no money to spend. Visit a branch in a tourist town and you will find a wide variety of clientele across all social groups.
Pubs do not usually attract "fine diners".There are plenty of places to go if you want that. Pubs attract people who want a "pie and a pint" and to attribute Wetherspoons' success to the fact that its customer base is composed principally of people who are (allegedly) poor shows a remarkable lack of insight.
Tim Martin mentioned in the FT
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://
Following the referendum, we hacks derived amusement from working out how much Leave donors had lost in the rout. Now markets are surging, it is fair to take another look at the numbers.
The standout winner is Tim Martin, boss of Wetherspoons, whose 30 per cent stake in the pubs group is worth 18 per cent more — a £100m increase — after profits upgrades. Most other pro-Brexit businesses are roughly back where they were before the poll.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://
Following the referendum, we hacks derived amusement from working out how much Leave donors had lost in the rout. Now markets are surging, it is fair to take another look at the numbers.
The standout winner is Tim Martin, boss of Wetherspoons, whose 30 per cent stake in the pubs group is worth 18 per cent more — a £100m increase — after profits upgrades. Most other pro-Brexit businesses are roughly back where they were before the poll.
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