How to lease a pub
The dream of owning a pub is one that appeals to many people, but the reality of buying one outright is financially daunting.
If you're looking for a more accessible option, with the benefit of ongoing expert support, then leasing a pub or taking on a pub tenancy or pub franchise with Greene King Pub Partners offers an exciting pathway to fulfilling your entrepreneurial aspirations.
A pub business can be both a lifestyle choice and a business-driven venture. For those seeking a change in circumstances and a chance to be your own boss, running a pub offers a desirable solution.
In this post, we will guide you through the four key steps to leasing a pub with us and explore the support available from Greene King.
Step 1: What Type Of Pub Business Do You Want?
British pub culture offers a rich tapestry of establishments that cater to different tastes, preferences, and communities. Each presents its own exciting opportunities and potential for success.
Your first step should involve thinking about the type of pub you want to lease. Begin by asking yourself a series of key questions that will help you identify the type of business you are looking for. Do you want to serve food? Will you offer bed and breakfast? Are you drawn to the idea of lively nightlife, or would you prefer a more family-friendly venue? Equally significant is your choice of location. Would you thrive in the idyllic setting of a charming countryside tavern or is the vibrant energy of a city venue more appealing? Successful pubs often blend elements from various types, tailoring their offering to suit their location and clientele.
You should visit a range of pubs and restaurants to get a clear idea of what you like and what you want for your business. This will also help determine the best fit for your experience and skill set.
The key to building a successful pub business you love is making sure you select the kind of pub you are passionate about and capable of running, whilst making sure it is enjoyed by customers and pub goers.
Step 2: Will I Need A Business Plan?
Although leasing a pub or taking a pub tenancy or franchise presents a lower cost option than buying a pub outright, you will still need the right un-borrowed capital in place. A comprehensive business plan, coupled with expert financial guidance, will help guard against overstretching yourself.
Your business plan will help you consider all the cost implications of your new venture and will set out how you can make the most of your new pub.
At Greene King Pub Partners, we ensure you are fully supported in preparing your business plan and your Business Development Manager (BDM) will work closely with you to bring together all your ideas and research.
Our Guide To becoming a Greene King Pub Partner provides information on the key steps that need to be taken before we can give you the keys to a Greene King Pub.
Step 3: How Do I Choose The Perfect Pub?
Pubs come in all shapes and sizes and when it comes to locating your ideal pub, you probably already have an idea of the kind of establishment you want to manage.
If you see a pub you like the look of, request a call back from our recruitment team who can provide you with more information. With this information, you can think in more detail about how suitable the pub is for you and the running costs involved.
Step 4: I've Found My Perfect Pub, What Next?
Congratulations! You've found the pub of your dreams and are excited and raring to go! However, much like buying a house, finding the pub you want to run is only the beginning.
The next thing you need to do is apply on our website to run the pub. You will then go through a process of interviews and checks to see whether you meet the criteria and are a good fit.
You will also need to have the following in place to ready your business for opening:
- A Personal Licence
- Completed Greene King Pub Partners training courses
- Readily available finances
There is a lot of information to process during this period and your BDM will continue to work with you to help you feel fully informed and in control.
Once your pub is open, your BDM will be on hand to provide as much or little support as you need. Every great entrepreneur has a mentor and you can count on your BDM to be yours for as long as you need them.
You can also draw on further support from Greene King's 'First 100 Days' programme, which has been designed to walk landlords through their first 100 days of trading. This is a brilliant resource that has provided help and support to many of our pub partners.
How Do I Take The Next Step?
Whether you're ready to take on a pub now or still researching whether this is the right decision for you, why not have a chat with one of our team? Call 01284 843200 or email firstname.lastname@example.org
Alternatively, our range of webinars provide lots of information on running a pub with us.