5 steps to get a pub lease
Are you ready to lease a pub? There are three main ways to own a pub business. You can buy a pub freehold, which means buying the building as well as fixtures and fittings. You can take on a pub tenancy where you rent the pub from a PubCo or pub landlord and run the pub as your business. Or you can get a pub lease where you purchase the lease of the building from a PubCo, and have more control over the pub premises as well the business itself.
How To Get A Pub Lease
Step 1: Decide if a pub lease is right for you
Make sure you understand the differences between pub agreements and especially pub tenancy and pub lease agreements. Is this the best way to run a pub for you? More details about standard pub agreements can be found here.
Step 2: Explore different types of pubs
What style of pub is a good fit for you and will offer the opportunity you want? There are all kind of types of pubs that attract very different customers. Some offer huge potential to innovate and grow, others are more suitable for licensees who want to a continue trading as the business already is.
Step 3: Capital and ensuring the numbers add up
Leasing a pub is a big investment, and you’ll need sufficient capital to secure the lease. But you’ll also need a robust business plan that shows how you’re going to generate revenue and make the business a success. Make sure your numbers add up and that you’re being realistic about what you can achieve.
Step 4: Start viewing pubs
Get out and about viewing as many pubs as you can to get a real feel for different types of business and what you want. Register with local and national PubCos and breweries to start your search, and take advantage of all the support they offer. Our Pub Partners team will work with you to help identify the right opportunities and make sure you’re ready to take on a pub lease.
Step 5: Do your homework
Before you can lease a pub there are several important things you need to do. These include applying for a personal licence, completing compulsory training and also taking advantage of additional training courses to help you run your pub business successfully. Get started early and you’ll have everything in place when the right pub comes along.
There’s nothing to lose by applying to run a pub with Greene King today. You’re not committed in any way: it’s our way of finding out what your plans are, what stage of the research and planning stage you’re at, and what kind of pub and agreement you might be interested in.
Get in touch directly if you would like to discuss any of this in more detail, or click on the link below to apply today.