Report of Open Meeting

The Race for the Racehorse

We need your support

At the meeting in the Westhall Village Hall last Friday (8th November) the committee’s recommendation - that we go ahead with renting the Racehorse for a year - was met with resounding support. The meeting was attended by over 60 people and, following a lively discussion, it was clear that the vast majority of those present agreed with us that the favourable rental contract that the vendor is offering us presents our best chance of achieving our ultimate goal of buying the Pub. The committee is now determined to make this happen.

It means, at a relatively low risk, we will have the benefits of a trial year; essentially this means we can see if the appetite in the village for a pub is large enough to sustain the business. It will also offer opportunities to test different ideas beyond selling beer, such as a daytime café.

We need to raise £15,000 to take this next step and this needs to come from supporters of the Race for the Racehorse. We have raised over £9,000 with promises to buy more shares this week. Now we need you to buy shares, this could be a proportion (hopefully at least 10 to 15%) of the money you have already pledged or it could be additional money. Can you help by buying some shares now?

There is information on our plans in the Documents section including the Share Application Form.

Some of the questions that were raised at the meeting were:

What happens to the shares if we buy the pub?

You are buying shares in the Westhall Pub Community Benefit Society, which would then own the building as an asset. Your shares will be part of the capital of building.

What is the risk to our money?

There is of course a risk, as there would be if we were to buy the Pub from the outset. The £15,000 includes stock, rent deposit and a contingency fund and we have estimated that our breakeven turnover is £1,000 a week, which should be achievable

What happens to my shares if we don’t rent the pub?

You will have the choice of selling your shares and the money will be returned to you.

If you would like to buy shares, please print and return this form and please give generously. The committee members are more than happy to answer any questions you have.

Many thanks from the management committee