The Pub game

[confused87]

Simple question really with with so many pubs being shut down weekly do you think its a good idea buying into one?

I think the success lyes upon location...

Any advice from people in the Business,would love to hear some good advice.

[sherrardk]

Hi confused - the pub we leased had been shut for some time and we spent a fortune making it immaculate. Consequently, this left us short of working capital which didn't help. It was a semi-rural location so getting staff was a nightmare (getting a reliable chef was almost impossible). We opened in July 2007 just as every one was starting to feel the pinch and people just weren't spending money. Our pub was more of a food pub than a drinking pub and people just weren't eating out and we had no spare money to weather the storm. We moved to a county we didn't know so we had no contacts so everything was done from scratch, and it takes a long time to get to know an area in terms of suppliers, trades people, etc. I hope you have luck with whatever you choose to do.

[confused87]

Hi Sherrard

Me personally and this is in no way intended to be disrespectful in anyway but going back to what i said earlier i think location is vital...

Me personally if i were to buy into a pub i would like to go into pub that doesn't need any major refurbs done on it,i also would like to buy into an area near some kind of football stadium...and maybe near a night clubbing area.

A chef me personally i think i would like to run a more drinking than eating pub but stil sell the basic home made favourites..also i dont no if its possible but if you have a 3 bedroom place upstairs perhaps rent out 2 of the rooms also.

Also being from essex i would like to buy into this area if possible as you say knowing your demographic area.

[sherrardk]

Hi confused - we went for location, near a city but with a garden (was meant to be a destination food pub that was family-friendly). We wanted a pub that would be one we would like to go to with our children. To be honest, we wanted to be all things to all men and ended up over-thinking it. Also, we wanted to move nearer to family (but not too near). We couldn't live at the pub as the accommodation was too small. We also spent too much time and money on doing it up - it was doomed from start to finish! Never mind, live and learn (it's only money at the end of the day - she says, whilst crying over what we could have done with it).

[confused87]

Aww so sorry to hear that things didnt work out...But I bet you have learned alot from it all.Did you see my posts above about some of the ideas like cocktail happy hours... the location im going for etc do you think in your opinion it seems flawed anywhere?

[welshlibranr]

worst thing you could ever do confused!..........we got out years ago!......couldn't make a living then!........cetainly can't these days!.........bad idea!............

[confused87]

Cheers Welsh

I appreciate the feed back and obviously most are saying stay away ... its jus i see from close friends that it can be a big success as she does very well for herself.

[welshlibranr]

Oh confused..........thought we could be a big success too!..........were locals. had lots of friends in the area, popular!..........didn't happen!........folk only have so much cash to spend!........friends, locals or not!.....won't work! sorry!.....worst time to be thinking of this!...........

[emmie]

what your friends have done is not what can happen to you. There is no such thing as taking a back seat, its already been said, and never ever employ relatives, because if you fall out, it will be ten times worse. There was a programme on a while ago that showed a couple who bought a pub, then all the problems started to kick in, unreliable staff, food orders that didn't show, having to work your backside off, and the list goes on. They invested a small fortune, and lost the lot.
You are young, and as many have suggested try working behind a bar for a bit, even part time if you can, because it would give you a taster of what you would be letting yourself in for. But working in a pub and running it full time are two different things.
Pubs fail for endless reasons, high prices, location, even where the place was the hub of the community, types of food or not on offer, and you end up having to do so much to pull in the punters, much more than in the day, when it was the choice of many men to go to pub for pint after work, meet up with friends, and at weekends.
Many pubs have been turned into restaurants, gastropubs, or shut. London pubs have been closing at a rate of knots, many decent, but the demand isn't there anymore. The smoking ban has put a nail in the coffin, add to that the greedy chains who own many many of these pubs. I would put any money into a home, because the other factors is that people who own pubs, usually live on the premises, and when they go bust, they have no where to live. Hard work for truly not a great reward.

[confused87]

Cheers for that Em ..Im posotive il be putting my current funds into a deposit on a house although in a few years il be ready to start a Business again.I do think its possible to make a good pub and I didn't for one second think i could take a full back seat what i ment was to take on more of the business side rather than be out there drinking etc with the punters...However i see there are probably more businesses out there that would make a better consistant profit,If anyone has any good ideas for me to look into then I would appreciate all the help given.