Friar
St Christopher Road, Colchester, Essex, CO4 0NE
NEST PUBS - INVESTMENT PLANNED
The Friar, Colchester is a great community local, which is soon to be refurbished and relaunched, offering a superb opportunity to run your own Nest pub franchise business. The refurbishment will bring the pub up to modern standards and this new style franchise agreement offers a basic food offer of Pizza (and other hand held food items), live sport, live music and will integrate itself into the heart of the community. Customers of all ages will be able to enjoy the entertainment at hand, with a great range of drinks on offer and fantastic pizza on offer every day of the week.
Bar
Dining areas
Garden
Kitchen
Patio
Location
Colchester is an historic market town and the largest settlement within the borough of Colchester in the county of Essex. The Friar,in the heart of Essex, is at the centre of the community surrounded by housing and opposite a busy shopping parade. As the oldest recorded Roman town in Britain, Colchester is claimed to be the oldest town in Britain and is some 50 miles northeast of London and is connected to the capital by the A12 road and its railway station which is on the Great Eastern Main Line. It is seen as a popular town for commuters and is less than 30 miles away from Stansted Airport.
Business Information
Annual rent
n/a
Weekly rent
n/a
Entry costs
£5,000
Turnover royalty
n/a
Forecasted Operator Turnover
£450,000
Forecasted Operator Profit (inc machine profit)
£30,000
Agreement
Pub Franchise Agreement is an agreement for people who have Pub Management experience but are looking to find a simple way to run their own business without having a huge entry cost. You pay £3,000 entry fee (plus £2,000 working capital) and we take care of the property costs, energy bills and stock. We supply marketing, training, and ongoing support. In addition, you'll be paid 20% of weekly sales, known as the weekly turnover share, to cover your staffing costs. Bonuses and 9% share of profit are available based on business performance and standards audits. Private accommodation is provided where available.
Entry cost of £3000 is payable on change day. This includes legal fees and start up training costs. An extra £2000 will be required as working capital, to ensure there is sufficient cash flow in the business before we make our first payment to you. You will be responsible for paying any staff wages including Employers National Insurance, liability insurances to protect the business and the public, TV licence and council tax for private accommodation.
Deposit
N/A
Fixtures & Fittings
N/A
Legal Admin Fee
N/A
Broker Fee
N/A
Stocktaking Fee
N/A
Working Capital
£2,000
Other Costs
£3,000
Total Entry Costs
£5,000
You will need to estimate the turnover you expect to achieve from the pub, with regard to food and accommodation (if applicable). Barrelage figures are given to assist you with calculations. All figures represent products bought from Greene King only. **Please note trading volumes for year 2021 are for part year trading and reflect the impact of closure during the Covid 19 pandemic**
| Year | Beer (Brls) | Wine & Spirits (Ltrs) | Minerals (Ltrs) |
|---|---|---|---|
| 2023 | 224 | 1,173 | 4,780 |
| 2022 | 250 | 1,263 | 6,119 |
| 2021 | 187 | 1,045 | 4,610 |
Good size community pub with pool table, darts, dining area and large patio area to the front. The pub will receive a generous refurbishment, which will revitalise the trade space.
Trade Bars
1
Trade Dining Areas
1
Trade Kitchens
1
Trade Food Covers
40
Trade Gardens
1
Trade Patio Areas
1
Trade Rooms to Let
0
Meeting Rooms
0
External Child Play Areas
0
Function Rooms
0
Customer Car Park Spaces
0
Current Premises Licence Opening Hours
Sun-Thu: 09:00-00:30
Fri-Sat: 09:00-01:00
The accommodation comprises 3 bedrooms, kitchen, lounge, bathroom and office
Private Rooms
7
Lounge
1
Dining Rooms
0
Double Bedrooms
2
Single Bedrooms
1
Bathrooms
1
Toilets
0
Private Kitchens
1
Offices
1
Bedsits
0
I am seeking an experienced couple or individual with pub management experience who can meet our applicant profile and effectively deliver the offer within our franchise agreement. A Nest Pub Franchise Agreement allows those with the relevant experience to launch their own business, with low in going costs. If you feel this may suit you, then please contact the recruitment team for further information
Becky Holt,
Apply for this property
The Pub Partners team at Greene King is here to help you make the right decisions about starting your own pub business.