Background to the KCBS
There are two major organisations in the UK that exist to support community businesses, the Plunkett Foundation (now Plunkett UK) and Development Trusts Association Scotland (DTAS). The latter includes Community Shares Scotland, now renamed Democratic Finance. Both organisations are charities that receive some Government funding.
When it was established that there was widespread support for running a community business in the village (initially the shop in Main Street, latterly the Inn), the Kingsbarns Community Development Trust (KCDT) approached Plunkett for guidance. As a charity, the Trust was not able to trade for profit. Plunkett introduced us to DTAS and paid for expert advice about the optimum legal structure for our situation. The advice was to set up a Community Benefit Society to run the business. It would be a separate legal entity from the KCDT, but both would work in close association with each other.
As well as trading, a Community Benefit Society would be able to issue community shares thereby increasing community involvement in the project. The Kingsbarns Community Benefit Society (KCBS) was subsequently established using the DTAS ‘hybrid’ model rules. These are specifically designed for communities with an existing, charitable development trust that wants to set up a business. All the expert recommendations made by Plunkett and DTAS have been closely followed by the Board of the KCDT.
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How we secured The Inn at Kingsbarns for the community
Feasibility study
After our successful bid for initial early-stage funding from the Scottish Land Fund, we have carried out a valuation of the Inn, and worked with Community Enterprise to conduct an independent feasibility study and draw up a business plan. These will help us make informed decisions about how to proceed with the project.
Research report
The full research report is available to download (PDF, 2.92 MB) and includes:
- demographic information about the Kingsbarns area
- a policy analysis on how our plans to create a community hub fit with national and local policies and strategies
- market research, case studies and a competitive analysis
- analysis of the community consultation and stakeholder interviews
- a partnership analysis of potential organisations we could work with
- a review of the asset itself, including current operations of the Inn at Kingsbarns
- an options appraisal of potential services
- financial projections and fundability
- governance and potential management models
- recommendations and next steps
Business plan
The full business plan is available to download here.
- how it will meet the social outcomes of the Scottish Land Fund, which if we are successful in our funding application, will be one of our main funders for capital funding to purchase the building
- how we will deliver the project, including governance models, staffing, monitoring and evaluation and working partnerships
- a marketing and branding strategy to raise the profile of the Inn at Kingsbarns
- an analysis of potential customer groups for the bar, restaurant, cafe, shop and accommodation
- a funding strategy, including income generation, sustainability and financial projections
Are you interested and keen to get involved?
We’re keen to hear from anyone who would like to help, particularly if you have experience in fundraising, or perhaps a background in finance, marketing, hospitality, business, legal, etc.
Or if you’d simply like to be involved, regardless of experience or background, please get in touch. We’d like all the help we can get.
Small communities throughout Scotland have successfully bought pubs and hotels, giving local people the opportunity to run and grow a successful business that meets the needs of their community. We are proud the community of Kingsbarns has made this happen.
