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Advice on renting a pub? Getting going

  • 19-11-2015 6:01pm
    #1
    The Red Lad
    Registered Users, Registered Users 2 Posts: 451 ✭✭


    Hi guys,
    For a long time now myself and 2 counterparts have strongly been thinking of running a pub. I know in this current climate we have our work up against us but it is my dream to own and run a pub. A property has came up and we are strongly thinking of going for it with both hands. We all have a bit of money put away to get us started but could anyone put a budget on starting out stock/electricity ect..


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Have you seen the accounts for the previous owner. Why did they cease?

    What level of turnover were they doing?

    How many staff did they have.

    How much is the rent.


  • #3
    ironclaw
    Registered Users, Registered Users 2 Posts: 8,004 ✭✭✭ironclaw


    Unless you have established footfall (And remember you can't close then open a Pub a few weeks later, you literally have to hot swap ownership) or are doing decent food in decent catchment area, you can really forget about it. Going down the local for a few pints only works in larger areas (Taxi home sort of thing) and all the decent turnover pubs are doing food as well. People will travel for decent food and you'll have a nice tick over with music and drink to boot. The image and business plan of a pub in Ireland 20 or 30 years ago is gone by this stage. The only exception to this would be a pub in a tourist hub, but then again, you'd really want to be doing food. Your profit on a table will far exceed that of the same table just ordering drinks.


  • #4
    power101
    Registered Users, Registered Users 2 Posts: 300 ✭✭power101


    No offense but if you can't work out a business plan and estimate stock levels this isn't for you. We could never estimate the stock levels without knowing the size of the pub, amount of taps, footfall and pricing at the very least.

    Do you have experience running a pub? Most successful pubs have gone into food in some way whether its basic hot food sandwiches or lunches.

    If you do go ahead with this I would say one thing. Location is key. Even if its costs double in rent compared to somewhere off the beaten track.


  • #5
    liamjames1
    Registered Users, Registered Users 2 Posts: 63 ✭✭liamjames1


    Easy solution to this question.

    They're are 100s of pubs for sale around the country at the mo. Find one that's a good fit for what your looking at, Contact the auctioneers, show an interest, most we'll send you a set of the most recent audited accounts. Use these as a starting point.


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