Heart set on Pub..

moggie4000

Hey,

I have always, as long as i can remember, i've wanted to run my own bar/pub. I understand pubs are taking a hit at the moment but i feel the right location and the right ideas can work. I will definitely be leasing not buying.

I am looking for advice on how to get started?
What i will need?
Is it a good idea?
And what rent and key money i should be paying?

Cheers

Moggie

sm.org

moggie4000 wrote: »

Hey,

I have always, as long as i can remember, i've wanted to run my own bar/pub. I understand pubs are taking a hit at the moment but i feel the right location and the right ideas can work. I will definitely be leasing not buying.

I am looking for advice on how to get started?
What i will need?
Is it a good idea?
And what rent and key money i should be paying?

Cheers

Moggie

Dont do it , I cant see a single reason in your post to suggest that it'll be a success for you.

I know a few groups in the business for over twenty odd years with multiple premises in good locations and every good idea know to man and are still struggling.

Bandara

moggie4000 wrote: »

Hey,

I have always, as long as i can remember, i've wanted to run my own bar/pub. I understand pubs are taking a hit at the moment but i feel the right location and the right ideas can work. I will definitely be leasing not buying.

I am looking for advice on how to get started?
What i will need?
Is it a good idea?
And what rent and key money i should be paying?

Cheers

Moggie

So how do you explain how the bars that are currently in the right areas and have the right ideas (and have decades of experience in the trade) are struggling just as badly as all the rest.

Because the industry is f**ked. I doubt you'll have too much trouble finding hundreds of them to lease.

PullMyFinger!

sm.org wrote: »

Dont do it , I cant see a single reason in your post to suggest that it'll be a success for you.

Thats a bit harsh.

OP: Lets start with your budget, what is your capital? I can forsee bar leases in decent locations going for 100k if things keep going the way they are.

Also, what is your experience in this trade?

shoutman

It's very easy to play publican, but as already posted the present climate is not great for entering into the pub trade.
Are you looking at a rural or urban pub? Dublin or a small town that already has four pubs?

I know people will say this is just negativity or whatever but I'd seriously just ditch the idea unless you see an absolute bargain which you hope to make a bare living off while working 70+ hour weeks before the good times come around again (if they do) and you can start to make real money (that's if you know what you are doing.

sm.org

PullMyFinger! wrote: »

Thats a bit harsh.

OP: Lets start with your budget, what is your capital? I can forsee bar leases in decent locations going for 100k if things keep going the way they are.

Also, what is your experience in this trade?

If your think I'm being harsh imagine what the bank/accountant is going to say to him.

Starting a post with an "I have a dream" idea always sends off warning bells in my head. For me , and its just my opinion , the OP has an idea in his head of pubs in the 80's/90's and even though he/she knows the industry is buggered today they're letting sentiment cloud their judgement.

neil_hosey

bookies is where its at. :cool:

moggie4000

Need a fair few quid to get a bookies, licence etc.. I think

MrPillowTalk

moggie4000 wrote: »

Need a fair few quid to get a bookies, licence etc.. I think

Its far cheaper to set up a bookies than a pub.

I opened a new pub a while ago and its going quite well, far better than I expected to be honest, that said however Im a construction professional and the premises has been finished to an excellent standard that most people wont achieve without serious expenditure, also it is very central and is small enough to keep the overheads as low as possible. That said Im glad its not my main business, its handy enough to knock a decent wage out of but it is unlikely to make you rich.

Have to agree that your post doesnt inspire any confidence, its extremely vague and doesnt show any form of research. Every question you ask can only be answered with "it depends" as they are far too wide ranging to bring any specifics. This forum in general would be alot better if people would include specifics when looking for advice.

Any business can be a good or bad idea ALL the devil is in the detail not the broad strokes.

Mr.Boots

I hear there are "bargains" to be had in pub leases.....but i guess thats for a reason.
Pubs are suffering at the moment due to the economic climate, the drink driving and the smoking ban....it all came together and hads damaged the trade hugely, it will take years in my opinion for pubs to pull back steday lost custom.
Having said that...if its your dream etc and you dont expect much of a return then grab a bargain!!