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

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stocious

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hey folks, first time post on this. Looking for any help, would be much appreciated.

For years and years i've been absolutely convinced that i could make a pub a massive success. Now i'm thinking of getting the ball rolling. I've a good job but prepared to take the risk and go for it.

Now, would anyone have any ideas at all how i'd go about buying a pub? (apart from starting a business plan, talknig to other owners, research etc whick i will of course do).

eg. can i buy a licence anywhere and then renovate premises somewhere else?
how much typically would a bank lend?
best to lease or buy? easier to lease i'm taking it?
where do i find out what pubs are for sale? are they all advertised?

any point in the right direction would be great, and a few free scoops when it happens.
 
Best bet if you're serious about the idea is to rent a pub for a while and see how it goes. Buying a pub nowadays is such a serious financial commitment that you would be unlikely to get sufficent finance from lenders unless they have absolute confidence in your ability to make the venture a success, and you have considerable financial resources of your own.
 
Have you really thought about this? Many pubs are struggling now and unless you inherit the family business it's not the gravy train it once was. I know someone who was in the business for years but wasn't sorry when they got out of it just a few years ago- long hours, no break from it and not really compatible with family life (fine if you're young and have no kids); I think you nearly have to be born into the business. Sorry just my tuppence worth to dampen your enthusiasm.
 
thanks for the opinions folks. i know all about the current situation with the plight of pubs. i have a friend whose family were in the business for decades and are well out of it.

it's hardened my resolve in that i ask what degree have publicans been complacent as well as conditions going against them. of course, i'll look at probably opening up in a city, as this is where the potential really is, unless there is an area with such hustle bussle in the countryside that i could get a retun of custom on my ideas.

so, if recommending leasing, are these advertised? and if so, are they advetised much as i don't see them often? whats prices, roughly, on leases, and again would you know what the banks would lend on a yearly lease?

thanks.
 
I know there are several Estate Agents who deal primarily with pubs

dooley.ie being one I know of. There are a few pubs for lease etc about the place if you look on the myhome website in the commercial section.

Wicklow Arms, Script etc in Greystones are being sold.
There is a new pub lease for sale in Charlesland- also in Greystones (do people in Greaystones not drink?!? :) )

There are a few more on the site if u check it out

HTH
 
I may be wrong about this but I seem to recall hearing somewhere that the price of a pub is ratio-based on certified turnover?
 
I head just recently of a pub in dublin up for lease - in a "rough(ish)" part of town - the money they're looking for is 20k up front deposit and then 1800e per week - i dont know what the turnover is but i've had a few pints in there and i'd suspect that for maybe one or two people going in together, a few bob could be made. tough life though, make no mistake.
 
Welfarite said:
I may be wrong about this but I seem to recall hearing somewhere that the price of a pub is ratio-based on certified turnover?
Click to expand...

This was the case many moons ago but factors such as (i) the market value (including development potential) of the property; (ii) the potential letting income if let; and (iii) the market value of the licence, are all much more important nowadays.
 
many thanks again for the sites. myhome seems to be pretty useful and i'll keep an eye on that alright. i'll be drawing up a business plans in the next couple of months.i'll make my projections conservative to keep things tight and leave plenty of room for upside results. again, any further ideas keep them coming.
 
Opening a PUB? Unless you got superb idea that no one does in town and situated at heavy footed public places, you will make money. Otherwise rent it, make it happening and give it a shot.

But to give it a shot, you need to find all the details:
1. Licensing first!
2. Financial support. The more of your own is better.
3. Cash Flow projections, at least be realistic. Always expect more costs than less! in other words "A Solid Business Plan". You could reach your goals easier this way.
4. Make it trendy! Have a patio and serving tapas! So be picky about your location. After all, its about making money and selling ideas.
5. Stock Control! This is the trickiest part if you intend to hire staff to work for you. Have a system in hand and use it consistently.

And food for thoughts, I've known few Pub owners who suffered a lot lately, bad sales and sometimes no sales. They survived because they own the place and only families are working. Personally I think, people are now looking for new trendy and happening places, be it in small town or where ever!

So make carefull judgement though and don't rush!

Best of luck!
 
The problem with aiming for the "new trendy and happening" market is that in six months time your premises may not be as "new trendy and happening" as the place down the road and you can lose a large chunk of your custom literally overnight. At the very best you would find yourself having to reinvest continuously in new fixtures, furniture etc just to stay "at the cutting edge" as it were. The alternative market strategy of spit, sawdust and Guinness drinkers may be less spectacular but it also should prove less fickle and ultimately more profitable.
 
No experience whatsoever here but I remember reading about the fella who owns about 8 big pubs in Dublin and his advice at the time was to never buy a pub with a car park.

Firefly.
 
Should you be considering towns that are expanding in population. I'm not interested in opening a pub but I noticed a pub on daft.ie in Carlow. THe lease is 70,000. Huge pub. I would recommend closing down the restaurant part of it and doing pub food. Check it out it might still be on there.
 
Personally I think you should go get a job in a pub first, and see if you are able for the lifestyle, plus you will learn a lot about the industry which should help you make less mistakes when you start your own pub.
 
Would second the idea of standing at the other side of the bar before putting your money into the pub business. You only have to research the frequency with which pubs change hands to realise this.

If you have been self employed before then you are at an advantage.

The pub life is a hard life with only two official days off a year. Tips for running a successful pub depends on your local market which depends on the location of the premises. However I would agree with Ubiquitous that the old style pub is a far more dependable one.
 
This is a wind up right!...... a poster called 'Stocious' with a subject title of (all together now).....show me the way to go....home..I'm tired & I wanna gotta bed....

...very clever indeed!
 
no no, although i made a play on the song and name, still all very serious. I had thought about getting bar work to gain the vital experience, and i do recognise how important that would be. i may indeed take on some weekend bar work to do that.

the other thing is, i hnow one or two bar managers to whom i'd think of putting a proposition of going into the business as partners, which means the expertise is there already and of course give a great start. while i'm more thinkin of myself as providing overall management and ideas, he could deal with the ins and outs of running the show.

I was prepared for negative (but of course constructive) feedback when i posted, and the frequent thing i hear is that its tough work, little holidays, working most hours of the day and week. well, i'm prepared to put hard graft into it until its successful and then take a back seat and allow the managers to run the place with some input from myself. thats the ideal anyways......
 
also, i'd agree with the more traditional pub theme. altho tradtion mixed with a bit more of technology.
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.....
 
Is your goal here to make a living or to revolutionise the licensing industry?

Did you do up a business plan yet?
 
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