Would you buy a pub now?
Discussion
Not unless you have an abundance of money and you are doing it because it's something you have always wanted to do and you are not overly worried about whether you make a living from it or not, eg James May who bought his local pub to keep it open.
I would think you have to be pretty crazy to buy it thinking you are going to be able to make a profitable business to to live on.
I would think you have to be pretty crazy to buy it thinking you are going to be able to make a profitable business to to live on.
LimaDelta said:
Given the current state of play, would you take the risk hoping for a bounce in the coming months/years? For what it's worth, both options I'm considering are rural, with letting rooms, lounge and restaurant, and in a National Park with decent levels of passing trade/tourism.
We sold a rural "pub" with letting rooms, lounge and restaurant. It was also in a National Park.This was sold at the end of 2019.
Not a chance unless you want to lose a few hundred thousand a year. And that was before the current situation.
Edited by Hashtaggggg on Thursday 4th February 07:59
Ex Publican here.
I’ve run everything from nightclubs, busy city centre bars, rough council estate ‘spit & sawdust’ hovels, busy chain restaurants to quaint old country pubs.
Even if a premises was being sold really, really cheap, already had great staff employed, (front and back of house, and never under estimate how important the right staff are), and the business already had a fantastic local reputation, my answer would still be a resounding “NO”.
This business, this lifestyle, (as it is more than just a ‘job’), has been increasingly on its arse for the last 20 years, and things aren’t likely to improve any time soon, if at all ever.
People’s eating and drinking habits have been changing steadily for years whilst operating costs have continued to go up. Covid has been the final nail in the coffin for a lot of very, very successful pubs that I know, the sort of places that have been busy little boozers for 20 years or more. These are all places that were run by knowledgeable, talented, experienced and hard working people, and have now shut and been put up for sale.
I’ve run everything from nightclubs, busy city centre bars, rough council estate ‘spit & sawdust’ hovels, busy chain restaurants to quaint old country pubs.
Even if a premises was being sold really, really cheap, already had great staff employed, (front and back of house, and never under estimate how important the right staff are), and the business already had a fantastic local reputation, my answer would still be a resounding “NO”.
This business, this lifestyle, (as it is more than just a ‘job’), has been increasingly on its arse for the last 20 years, and things aren’t likely to improve any time soon, if at all ever.
People’s eating and drinking habits have been changing steadily for years whilst operating costs have continued to go up. Covid has been the final nail in the coffin for a lot of very, very successful pubs that I know, the sort of places that have been busy little boozers for 20 years or more. These are all places that were run by knowledgeable, talented, experienced and hard working people, and have now shut and been put up for sale.
105.4 said:
Ex Publican here.
I’ve run everything from nightclubs, busy city centre bars, rough council estate ‘spit & sawdust’ hovels, busy chain restaurants to quaint old country pubs.
Even if a premises was being sold really, really cheap, already had great staff employed, (front and back of house, and never under estimate how important the right staff are), and the business already had a fantastic local reputation, my answer would still be a resounding “NO”.
This business, this lifestyle, (as it is more than just a ‘job’), has been increasingly on its arse for the last 20 years, and things aren’t likely to improve any time soon, if at all ever.
People’s eating and drinking habits have been changing steadily for years whilst operating costs have continued to go up. Covid has been the final nail in the coffin for a lot of very, very successful pubs that I know, the sort of places that have been busy little boozers for 20 years or more. These are all places that were run by knowledgeable, talented, experienced and hard working people, and have now shut and been put up for sale.
Seconded, the only type of hospitality business I would even think of opening is a very upmarket restaurant is the right area with a very very good head chef and only then if I had very deep pockets to spend the time building up a fantastic reputation and online presence.I’ve run everything from nightclubs, busy city centre bars, rough council estate ‘spit & sawdust’ hovels, busy chain restaurants to quaint old country pubs.
Even if a premises was being sold really, really cheap, already had great staff employed, (front and back of house, and never under estimate how important the right staff are), and the business already had a fantastic local reputation, my answer would still be a resounding “NO”.
This business, this lifestyle, (as it is more than just a ‘job’), has been increasingly on its arse for the last 20 years, and things aren’t likely to improve any time soon, if at all ever.
People’s eating and drinking habits have been changing steadily for years whilst operating costs have continued to go up. Covid has been the final nail in the coffin for a lot of very, very successful pubs that I know, the sort of places that have been busy little boozers for 20 years or more. These are all places that were run by knowledgeable, talented, experienced and hard working people, and have now shut and been put up for sale.
You may as well just set fire to your money otherwise.
mcflurry said:
I wonder how many people thought, "I like drinking in a pub, so i'll buy one" ?
Guess it's many, even with no experience of staffing, bills, customer interaction, stock selection and paperwork..
Quite a few, I used to work for youngs the turnover for training managers was a sight to behold.Guess it's many, even with no experience of staffing, bills, customer interaction, stock selection and paperwork..
The hours alone was enough to send many of them packing.
Up for the dray at early o'clock and finish sometime after eleven thirty at night and one day a week off if you were lucky but your not really off as you live above the shop and if anything goes wrong you have to deal with it day off or not.
A couple of months of that was the limit for most couples.
citizensm1th said:
Quite a few, I used to work for youngs the turnover for training managers was a sight to behold.
The hours alone was enough to send many of them packing.
Up for the dray at early o'clock and finish sometime after eleven thirty at night and one day a week off if you were lucky but your not really off as you live above the shop and if anything goes wrong you have to deal with it day off or not.
A couple of months of that was the limit for most couples.
That sounds like an early night!The hours alone was enough to send many of them packing.
Up for the dray at early o'clock and finish sometime after eleven thirty at night and one day a week off if you were lucky but your not really off as you live above the shop and if anything goes wrong you have to deal with it day off or not.
A couple of months of that was the limit for most couples.
citizensm1th said:
A couple of months of that was the limit for most couples.
And for those that don't (or can't easily) quit there is a noticeable change in attitude, I can think of several pubs where the owners/managers have been worn down, changing from personable and friendly to the quiet the opposite.On top of the other stresses it seems that online review sites (TripAdvisor etc) now give those customers with a grudge the chance to really stick the knife in.
LimaDelta said:
Given the current state of play, would you take the risk hoping for a bounce in the coming months/years? For what it's worth, both options I'm considering are rural, with letting rooms, lounge and restaurant, and in a National Park with decent levels of passing trade/tourism.
In addition to all the operational concerns, you would want to consider plan B / redevelopment options / liklihood of consent to change etc.Gassing Station | Business | Top of Page | What's New | My Stuff