Conviviality plc has awarded almost one million shares to more than 200 franchisees – the first portion to be granted as part of its Franchisee Incentive Plan (FIP).

This first tranche of Conviviality shares has seen 224 franchisees, representing 318 stores, rewarded for their commitment to running successful stores.

Simon Wallis, of Bargain Booze in Kingswinford, said: “This scheme means the franchisees are the ones who are benefitting and it gives us all a sense of belonging.

“It’s pushed up retailers’ standards because the more you hit the targets, the higher level of shares you’ll receive.”

The FIP was initially a three-year plan, but will now be extended for a fourth time next year.