Got the Money? Is it Time to Run a Pub?
Date added: Mon, 27/02/2017 - 10:00
If you have the money, then this is the perfect time to invest in a pub. Signing up now could mean you will be behind the bar of your new pub, ready to enjoy the busy summer trade when the long summer evenings encourage people to relax with a drink and a meal.
There is no time like the present. Pubs are thriving and offer really good business opportunities.
Last year, business researchers Mintel pointed out that more than 58% of Brits went to the pub for a meal. Pub dining overall was the most popular leisure activity involving over a third of adults eating in a pub at least once, if not more frequently, every month. It is more popular than going to a restaurant.
Dropping in for a drink at their local pub is the norm for many people wherever they are in the UK. With spending on pub food and drinks averaging around £40 per meal, running a pub is definitely a lucrative business opportunity for entrepreneurial pub landlords.
Turn Your Pub Dream Into Reality!
Running a pub is often a long held dream for many people. If you have the cash at hand, then there is no reason why that dream should not become reality. Financing a pub tenancy is a great way of using a redundancy payout, an inheritance or money gained from the sale of property. By investing in the right pub you can build a fantastic business for you and your family, providing a great lifestyle and excellent income.
Contrary to some newspaper headlines, it’s a thriving industry for the right people (and the right pubs), offering great potential to develop a really solid business. Don’t be limited by just one pub either! Many pub landlords are creating successful mini pub chains, or diversifying by opening onsite microbreweries, distilleries, and restaurants.
The First Step
Interested? So what’s the first step? Get in touch with us of course! We can guide you though the decision making process and help you find the pub of your dreams.
- Come along to one of the recruitment Open Days at the Greene King Brewery in Bury St Edmunds.
- Get in touch with one of our Business Development Managers for a chat.
- Take a look at the range of pubs available on our website and see if anything appeals.
The cost of a pub tenancy varies considerably so there are lots of opportunities available nationwide, for the right person.
The actual cost depends on where a pub is located, its size and the type of agreement that you choose. When looking at your finances, you also need to budget for initial running costs such insurance, license fees, professional fees and so on. Each pub listing indicates just how much money is likely to be needed to get your pub up and running.
Your Greene King Business Development Manager (BDM) will help you work out just which is the right agreement for you. From the very beginning of your search for your dream pub, the BDM for your area will help you every step of the way. They possess a lot of industry knowledge, and some have operated pubs themselves.
Having made the initial contact, the next step is to choose your tenancy agreement. There are a variety of agreements available, and it is important to study them carefully and discuss the options with your BDM before making your choice. The flexibility provided by our range of agreements with terms that depend on the type of commitment you wish to make, reflects the way in which operating a pub is ideal for entrepreneurs seeking to develop a successful business.
Choosing between the different types of agreements needs to undertaken with care. These agreements offer considerable flexibility regarding entry costs into pub ownership, but should only be considered if you have the money immediately available. Taking out a loan or using credit is not recommended as this can create too great a pressure on the business due to the additional financial commitments and interest rates. Using your own money gained from savings, redundancy payments, investment, inheritance or property sales is the best way to fund a new business operating a pub.
A standard tenancy agreement is great for people who want to try out pub ownership, and to get some experience. With just a fixed five year agreement term and a variety of ties relating to provision of alcohol, it forms an excellent introduction.
Full details of the standard tenancy agreement and the standard lease agreement can be found here.
There are other options that can be discussed with your Business Development Manager, for example the Local Hero Tenancy Agreement supporting local provenance in food and drink or the Meet & Eat Franchise Agreement.
Business Development Managers
Investing your money in a business opportunity does need careful thought and attention. This is where Greene King can help. The Business Development Managers are there to support landlords, providing all the help and assistance required. Take the opportunity to talk to pub landlords and find out what it is like to operate a pub. Make sure that it is the right decision for you, and that this is a lifestyle that will suit you and your family.
All you have to do then is create a business plan and find your pub!
Pubs are undoubtedly a great business opportunity for the right person. If you have the ideas, the enthusiasm and the funds available, now is the time to take advantage of the great selection of pubs on offer.
Take the next step today by talking to our team or by registering for our next Recruitment Open Day.