Buying a pub - show me the way to go....

[KalEl]

My advice would be to avoid the pub game like the plague.
Nowadays most are just fronts for the underlying property play and unless you're going in with a pile of cash you'll struggle to make repayments on your finance.

 

[Bob_tg]

There was an article yesterday in the Sunday Business Post about the market for pubs. The going rate these days has come down a bit and is now 2.5-3 times certified turnover, and that pubs with car parks are being sold off.
Here is the link to the article...
[broken link removed]

 

[z107]

i think the lack of music and the conservativeness in the pub scene in the country is shocking. theres people asking themselves where to go on a night out and can never decide cos all the pubs have become so homogenous and bland. it all needs new ideas, freshness. otherwise the malaise goes on

A pub's primary goal (like any business) is to make money. Secondary might be to entertain punters. Consider that there is probably a reason that pubs 'lack music and are very conservative'. It might be the best way to make money.

Maybe an experienced pub owner might be able to tell you why they run their pub the way they do.

 

[Morgause]

i think the lack of music and the conservativeness in the pub scene in the country is shocking.

A lot of people like that though (e.g. Stag's Head, Grogans). Personally I dislike pubs with music and televisions as I'd rather talk to people. Most of my friends would think the same. If I want music, I'll go to a club. But for pints and chat, I want a telly-free pub. Perhaps I am in the minority there though!

 

[PM1234]

Is your goal here to make a living or to revolutionise the licensing industry?

i think the lack of music and the conservativeness in the pub scene in the country is shocking. theres people asking themselves where to go on a night out and can never decide cos all the pubs have become so homogenous and bland. it all needs new ideas, freshness. otherwise the malaise goes on.....

The premises have to suit the local market. When your business is restricted to a smaller location is it better to alienate regular customers who spend more or have a clubscene which may do well on a Saturday night?

 

[oaky9]

hi im 32 and was born and reared in a pub and am still working for my mam and dad and 5 years ago purchased another pub in out small town. we borrowed alot and have paid it off through property sales. its a lot larger than our original pub and we were paying 6k a month in repayments and we have paid for it now. as for market conditions everyone is saying pubs are on the decline and business is bad but i have to say dont lose faith during the day is totally dead but i dont mind that as there is lots of small jobs to do . some pubs close by our area dont open till evening on monday till friday so u can go golfing swimming or horse racing and come back at 6 o clock and earn your money then. you really make your money on the weekends but u really need an established premises and in a small village or town . isolated country pubs are limited to the locals if ur on a main road in a town it helps . if you have any questions just email me . if u had a wife or partner who is willing to work with u is a big advantage too

 

[simplyjoe]

More dreaming. You feel you could give it a go but yet you have no research done. You have made the decision before having the facts.
I had worked in pubs for years, left got a professional qualification, got dreaming and bought a pub with my brother. What a mistake. You do not know what tiredness means until you run a pub. You do not know the stress. Try these factors

Underage drinking - No matter what you do you will not achieve zero underage drinking. We got prosecuted even though the guy had a false ID (he was actually 17 years and 10 months old). His father bought him the drink and his employer verified his age. 4 people in this situation. The only one prosecuted was the one person who did not know he was underage. The other 3 got off scott free. Crazy.
Hours - Close on time have no customers - stay open and have frequent appearances at court.
Voilence - Toilets broken, fighting, drunken yobs, broken windows, bouncers, CCTV, mirrors.
Late hours - Clean up by 3 AM deliveries at 9.30 am.
'The new going out is staying in'. True more people now drinking wine, etc at home. Parties, giant screen LCD tvs with sky sports, movies all in your own home.
Travellers - the law rightly says you must serve them but as soon as you do you are a target of the Gardai who actively persue pubs who serve travellers. Also you will lose a large chunk of your customers.
Children - the law says you have to admit children but you cannot serve them alcohol. Crazy!
IMRO
Reclycling
Other waste
Cleaning
Health inspectors
Drugs - check out your sinks after a saturday night!
Drug pushers.
Staff stealing
Staff sick
Surly staff
Smell
Alcoholic customers dying
VAT
Rates
PAYE
Insurance
Staff pensions

Need I go on - YOU ARE MAD - Stop dreaming the bubble has burst.

 

[RainyDay]

Travellers - the law rightly says you must serve them but as soon as you do you are a target of the Gardai who actively persue pubs who serve travellers. Also you will lose a large chunk of your customers.

The law does not say that you must serve travellers or anybody. The law states that you must not discriminate against them (e.g. refuse the serve them) because they are travellers.

 

[oaky9]

excellent reply simplyjoe. have the say i am realy lucky to be involved in a good pub. sounds like you were in a big town and rough clientele, have to say we have none of the problems you outlined . as for rates insurance etc. thats business.