Plan B one step Closer Plan B one step Closer
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  1. #1

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    Default Plan B one step Closer

    My Plan B was to buy a pub business.....Well i have now found one which seems to be ticking all the boxes...anyone got any experience in buying a pub business..understand the ins and outs of it or know someone who is currently doing it.

    It is on a 5 year lease so i assume that after the 5 years i either have to move out or renew ?. Also as i suspect it is owned by a brewery i have to buy all my products off them and then do i also have to give them a cut of the sales ??

    I'm waiting for a reply from the business hence the question while i wait

    p.s hope everyone is doing well
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  2. #2

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    Wouldn't it be better to wait until the economic collapse starts in earnest, and pick one up for a song?

  3. #3

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    Coops,

    I would suggest you to through away the key to your piggy bank and not try to find it until you have done thorough research on the pub business

    from what I have read is it 5 pubs a week are closing at the moment

    more-over as far as I understand the worst to have are the tied pubs where the brewers take all the profits

    be very careful when going down the pub business route

    all the best

    Milan.

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    Quote Originally Posted by Cooperinliverp00l View Post
    My Plan B was to buy a pub business.....Well i have now found one which seems to be ticking all the boxes...anyone got any experience in buying a pub business..understand the ins and outs of it or know someone who is currently doing it.

    It is on a 5 year lease so i assume that after the 5 years i either have to move out or renew ?. Also as i suspect it is owned by a brewery i have to buy all my products off them and then do i also have to give them a cut of the sales ??

    I'm waiting for a reply from the business hence the question while i wait

    p.s hope everyone is doing well
    I do hope you are joking.

    In the current economic climate, people are more likely to stay at home and drink than go to the local boozer - brassy barmaid or not!

  5. #5

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    Quote Originally Posted by Cooperinliverp00l View Post
    My Plan B was to buy a pub business.....Well i have now found one which seems to be ticking all the boxes...anyone got any experience in buying a pub business..understand the ins and outs of it or know someone who is currently doing it.

    It is on a 5 year lease so i assume that after the 5 years i either have to move out or renew ?. Also as i suspect it is owned by a brewery i have to buy all my products off them and then do i also have to give them a cut of the sales ??

    I'm waiting for a reply from the business hence the question while i wait

    p.s hope everyone is doing well
    You're asking some basic questions for someone about to buy a pub..

    IIRC most brewery owned pubs force you to supply their beer but allow you to also provide a none-brewery drink.

    You will work 7 days a week, no holidays!

    /From my extensive pub experience of 'knowing my local pub's landlord'
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    I spent the first 17 years of my life living in a pub. I wouldn't recommend it to ANYONE. Especially anyone with children.
    If you live over the pub - you'll be working very long hours.
    If you have a romantic image of standing at the bar with a pint in your hand chatting to the regulars, you will soon find the reality is very different.

    My niece is a licensee in North London and works 7 days a week. Pubs open every day of the year, the only night ours was shut was Christmas night and when everyone else is having a Bank Holiday - you'll be behind the bar serving them.

    If you go through with it choose very carefully. There are a lot of pubs going out of business at the mo.
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  7. #7

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    Things to consider

    Have you ever worked/ran a pub, if not get some experience? Honest I looked into being a pub manager, and did not realise how hard it was until a managed the pub ( with permission from the Brewery) for 2 weeks.

    Lease’s are normally longer than 5 years so you need to find out why and ensure that this is not a tenancy agreement.

    If lease, you are responsible for maintaining the property and the Brewery/Landlord can increase your rent on an annual basis

    Anyone new to the trade will have to hold an accredited qualification such as the National Certificate for Personal License Holders (NCPLH), or they will not be granted a personal license, the magistrate may also request a police check on you prior to granting a licence.
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  8. #8

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    Thanks for the responses...i should have mentioned that it is a Hotel and Restaurant so doesn't just rely on wet sales which can be hardly anything if it is tied in leashold (waiting to find out status). There are already staff in place such as head chef, Restaurant Manager, Bar Manager, cleaners and kitchen porters e.t.c so i doubt i would have to be to much hands on and can still keep some level of private time not behind the bar.

    It is based in a nice area up north and has a lot of local trade as well as tourists through out the year.
    Thats the way the cookie crumbles

  9. #9

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    IMHO The pub business started to decline with the smoking ban, many have gone to the wall already. Steer clear.
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  10. #10

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    local pubs around my area are closing and part of the reason is sky high fees they need to pay sky/setanta for broadcasting live sport.

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