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    The Common Sense Guide to Buying a Pub
    The Common Sense Guide to Buying a Pub
    The Common Sense Guide to Buying a Pub
    Ebook85 pages1 hour

    The Common Sense Guide to Buying a Pub

    By Nigel Wakefield

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    About this ebook

    would you buy a used car from a dealer, with no guarantees or warranties, with probably doctored mileage? you would not. but that’s what thousands of people do when they buy a pub or licensed catering business, there are no guarantees and do you really know where to start to verify that all the information given to you is correct?
    so whilst there are thousands of successful licensed premises up and down the country, why do so many landlords throw in the towel so early in their dream job?
    everyone involved in the pub trade has a vested interest in selling you that business or some form of business and will tell you what they want you to know, not what you need to know. we try to show you these interests and vested interests where possible and welcome your feedback on any questionable activities that you think we may have missed.
    the licensed trade is the least professionally educated sector in the country.
    by passing a one day course in the uk, you are entitled to run a complex business with no further technical training. the course itself deals with licensing law, not how to run a licensed business or buy one.
    you don’t have to do what we say, but at least think about it. if this book can make you ask questions and get honest answers, then we have achieved something.

    LanguageEnglish
    PublisherNigel Wakefield
    Release dateJul 2, 2012
    ISBN9781476023250
    The Common Sense Guide to Buying a Pub
    Author

    Nigel Wakefield

    I am a keen fisherman and have been a diver commercially, owned a number of pubs and catering businesses.I am also the Editor of www.buyingapub.com an information site for the Pub and Restaurant Industry, in addition www.barrel-dregs.com which exposes all the dubious activities by unscrupulous companies with a degree of humour, they are always worth reading, written by a number of professionals under nom de plumes.

    Read more from Nigel Wakefield

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      Book preview

      The Common Sense Guide to Buying a Pub - Nigel Wakefield

      The Common Sense Guide to Buying a Pub

      by

      Nigel Wakefield CBII

      About the Author

      The principal author Nigel Wakefield, formerly a CBII with the British Institute of Innkeeping, has worked in the Licensed Trade for 35 years, as a successful publican and more recently as a professional Consultant to both new and established licensed premises. The author has specialised in buying pubs and licensed businesses that are in decline and turning them around in to highly profitable and successful establishments.

      He also runs a free information site for the Pub and Restaurant Industry www.buyingapub.com and www.barrel-dregs.com which exposes many of the questionable activities by a number of companies, with a touch of humour, bad companies do not like being laughed at.

      If the information helps you and you can afford it, please make a small donation to the Licensed Trade Charity, they do a lot of work helping less fortunate people in the Industry.

      The advice is not wholly Nigel Wakefield’s but a consensus of opinions by like minded people in the industry who want to see better informed people entering the Industry anywhere in the world.

      The Common Sense Guide to Buying a Pub

      By Nigel Wakefield

      Smashwords Edition

      Copyright 2012 Nigel Wakefield

      Smashwords Edition, License Notes

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return it to Smashwords.com and purchase your own copy, Thank you for respecting the hard work of this author.

      Chapter 1, Initial Thoughts

      Would you buy a used car from a dealer, with no guarantees or warranties, with probably doctored mileage? No you wouldn’t. But that’s what thousands of people do when they buy a pub or licensed catering business, there are no guarantees and do you really know where to start to verify that all the information given to you is correct?

      According to a recent survey, 64% of men, when questioned, said that owning and running their own pub is their dream occupation. Contrast that with the startling fact that in recent years in one pub company’s track record in Britain, the average length of tenure for a landlord was only 9 months. So whilst there are thousands of successful licensed premises up and down the country, why do so many landlords throw in the towel so early in their dream job?

      Everyone involved in the pub industry has a vested interest in selling you that business or some form of business and will tell you what they want you to know, not what you need to know. We try to show you these interests and vested interests where possible and welcome your feedback on any questionable activities that you think we may have missed.

      The licensed trade is the least professionally educated sector in the country. By passing a one day course in the UK, you are entitled to run a complex business with no further technical training. The course itself deals with licensing law, not how to run a licensed business or buy one.

      The Common Sense Guide to Buying a Pub is your guide if you decide in a moment of temporary insanity that you want to buy a pub or bar, or, you think that you can run your local better than the present landlord. You don’t have to do what we say, but at least think about it. If this book does that then we have achieved something.

      The book is based on buying a pub in the U.K. and their Licensing Laws which are not necessarily the same as other countries.

      The bulk of the business information is based on normal business common sense and our aim is to try and save you money and make your business more profitable on the sort of things that many courses fail to mention and newcomers to an industry are totally unaware of.

      The Book is a concisely written e-book that contains in depth information on buying a pub; its content is not intended to make you rush into the first picturesque pub that you see, but to look beyond the façade and the agents glowing report. Look at the whole business as any experienced operator would do.

      If you can’t find the answer to your satisfaction, we hope to guide you to where you might get the information to answer your questions. From this you will be able to recognise where problems may lie in your future business. We show you the key elements of buying a pub, from who to speak to, who to take professional advice from and who to avoid.

      This is an impartial guide. The vast majority of companies in the licensed trade have a vested interest, often to encourage you in your initial enthusiasm to spend money. Often their advice is loaded with self-interest; a commercial agent trying to shift a problem establishment from their books; a pub company trying to tie you in to an unfavourable long term lease with a total tie to all the products that they supply. Their discount from the suppliers is enormous; you get minimal discount, if any; your profit margins are cut to the bone, just to sell your beers and products at a realistic price in the market.

      We need the services of Solicitors, Accountants, Banks and a whole range of accounts with a variety of supplying companies etc., before you start trading, which ones do you use? Be careful about using Solicitors or Accountants that do not specifically deal with the licensed industry and where applicable leasehold premises.

      Do not accept anything that is described as The Norm without fully understanding the short term and long term implications.

      Enjoying the preview?
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