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.

[emmie]

no don't do it, believe me its one of the hardest jobs in the world. Unless its a back seat role, even then i wouldn't, you could lose your shirt. its not the location either, Camra, campaign for real ale, give out info on how many pubs shutting every week, and its going up all the time. Can say with a degree of experience.

[jd_here]

I endorse em10's answer, I was brought up in a pub and know how hard my widowed mother had to work for little reward.

[emmie]

Many people confuse being mine host with being on the other side of the bar, having a pint in one is one thing, being on call 7 days of the week is another. Many pubs now have to cater for families, so food, and perhaps a garden for summer, and you are never off duty. Relatives of mine thought about it, went to do it, were turned down, though they did take up another business, i was glad they didn't get the pub.

[boxtops]

I used to work in the brewery business and it was SUCH hard work. A licensee is up at 6 to take deliveries, clean the pipes, etc., and works until closing time. People just don't have the money to drink these days - when I was in the brewery, the money was in the catering, that went down the Swanee when you could no longer serve food if you allowed smoking. When smoking went outside, the food didn't come back. I wouldn't risk it.

[woofgang]

Used to run my In laws pub when they went on hols....I agree do not even go there. Its hard unpleasant work for long hours and no reward.

[scotman]

I think it depends whether you go in as a tenant or as owner of a free house. Some people are suited to the life, others are not. It is very hard work.

[emmie]

if you are married, you won't be for long, as i have seen so many go to the wall, if you work together in the business it can kill a relationship stone dead.
Its the relentless hours, and it all looks great sitting supping a pint, but its not.

[confused87]

Thanks for all the feed back people im not married,however i was thinking of taking a more back seat role and employ someone (in the family) to run the pub ... however if the profit wouldnt be high enough then obviously il give it a miss..

[scotman]

Following on from Eddie's post; in my opinion employing relatives is also a recipe for disaster.

[confused87]

Really appreciate the feedback people,i have £60,000 to put into a profitable business venture and did consider myself to have some good ideas for the pub scene however if this really is as you say not a chance of happening.Would anyone have any other business ventures they would think would be alot more profitbale for the capital im talking about...also i would like to stay away from loans from banks etc for extra capital.

One last thing im 24 years old and a qualified Black Cab driver so my income is quite decent,my question is do you put this money towards a business venture and carry on living with your parents for a few more extra years,or be safe and get a deposit on me own place and then maybe look at taking a plunge into the business world??

All advice welcome.

[sherrardk]

Don't do it - we did it (4 years ago) and it went HORRIBLY wrong.

[boxtops]

If you've got work and making a reasonable leaving, I'd buy the house. Having a job at all is good, in the current climate - I wouldn't chuck your money away on a gamble like that, at the moment. With £60K to invest, you wouldn't need so much of a mortgage - while you are living with your folks at the moment, you won't want to do it forever. Put the money into bricks and mortar while you can.

[Twirls]

If this is something you really want to do, have you thought about working in a pub for a while to see how hard it is / whether you enjoy it?

[confused87]

Really appreciate the advice people im at that age now where the decisions will make or brake me... my head says stick the £60 k into a good home then just work hard and one day try my luck... Only trouble is i thought about the pub game because i no people who lease a pub and they are rakeing in the money and i no they would help me learn the ropes,obviously im not blind and read 25 pubs are being closed on average a week i think il look at other prospects.

[confused87]

Tbh Twirls i was really think to be man in the backgroun dealing with the financial and advertiseing...closeing an shutting down etc and leave the more cleaning and serving to the staff.. tbh i really think i could do well its just a big gamble to put before a house etc

[sherrardk]

Hi confused - we really, really looked into it all before we bought our pub (leasehold, using all of our money) and thought that we would make it big. Please be really careful as 60k doesn't go far in the pub game. I hope you find something else that does suit you and that you do really well at it. We have no regrets (obviously it would be nice not to have lost everything) and at least we went for it. Good luck.

[boxtops]

If you really fancy it, it's a good suggestion to try to get a part-time job in a pub, so you can get a feel for it, first hand. Or spend some real time with the people you know who are doing really well - they may have just struck lucky. It's very hard work trying to make ends meet in the brewing trade these days.

[confused87]

Hi sherrard

May i ask what you feel went wrong with your pub,like were there any main reasons it didnt work out for you? I understand 60k isn't really alot of capital im mainly going on what iv seen a friend do.. she bought a pub for £45k leashold of 25 years and didnt have changes to do to the pub itself,she seems to be doing very well but theres little ideas that i think could make a big difference to make it even more successful but as you say its a big gamble.

[confused87]

Cheers box

Yeah she has been in the pub game for the past 30 years so i think she no's her onions and she has a very good location for a very good price..it shocks me though that she hasnt used little things like:

Pool table...pool team
Darts team...
Fooball team
Comedians,student nights cocktail nights etc

All these ideas i think could make even bigger profit margins ..Do pub owners not do this anymore because people just dont care or do they just get lazy?