Buying a pub! Am I mad?

(6 Posts)
Hibou7688 Sun 23-Feb-14 18:55:41

Don't know if this is the right place to post, please let me know if there is a more suitable board.

I really want to get into the pub trade, I am currently a teacher. I have a minimal amount saved in the grand scheme of things (about 10k of my own money). I guess I'm looking for other people who have taken the plunge and done the same? A property I've seen is currently a restaurant up for 50k. I'd look at converting into a bar!

Anyone any advice/thoughts?

MisForMumNotMaid Sun 23-Feb-14 18:59:44

You have approximately six weeks leave at a peek time of year for this trade in tourist areas. Why not see if you can get a month of paid work experience in a similar kind of venue? Its such a contrast to your background you could use the month to go in with your eyes open.

pud1 Sun 23-Feb-14 19:13:26

I had a pub for 3 years. Not sure I would do it again tbh

Would you be doing any food or would you be totally wet led?

What about a brewery. Is the building freehold or lease hold?

I would think very carefully. It is not an easy business to make money from. It's a tough industry now.

Hibou7688 Sun 23-Feb-14 19:31:20

There are two I've looked at, one is a b&b as well but it obviously more expensive. The cheaper one is currently a restaurant and is free hold. Not sure on how it'd all work to change to a pure bar/pub but it does currently serve alcohol so must be some sort of licence there.

I worked (I know it's very different to running) in pubs/hotels/restaurants before I went in to teaching and I honestly loved it. It's what I've always wanted to do but I just went into teaching assuming it was a dream that'd never come to fruition.

Hibou7688 Sun 23-Feb-14 19:33:20

Forgot to say.. If I were to go for the b&b I think I'd focus on rooms first, then take a little more time to find my feet before opening as a bar to non residents. The restaurant, I'd convert straight away into a pub and then maybe long term look at doing some food but nothing too formal.

SimLondon Tue 25-Feb-14 21:33:33

I might be wrong but I think that most pubs make their profit from food rather than wet sales - maybe im thinking of rural pubs and city centre bars are different.

Either way you will have very early starts and very late nights 7 days a week and have to deal with arse-holes. You probably know that a bit from working in them but perhaps volunteer to do a few weeks holiday relief cover for an agency to get some perspective.

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