|Buying a pub in the UK.|
Find out how to buy a pub in the UK and what options are available to you as an aspiring landlord. This guide also covers topics like raising finance and using finance brokers.
Pub tenancies explained.
Looking to buy a pub? Limited capital or experience? Find out if becoming a pub tenant is right for you. Weigh up the pros and cons for yourself, and decide whether this slighly more limited form of pub ownership is perfect for you.
1.) Always have a structural survey done before buying a pub. Structural repairs can be very costly and could spell disaster if overlooked. Older pubs may be listed as protected buildings and large scale repairs may be subject to stringent guidelines.
2.) Decide whether you’d like to lease a pub or by the freehold to one. Leases are more restrictive but are normally cheaper to obtain. Freehold ownership requires more capital but allows you to run your pub with complete freedom.
3.) Visit successful pubs before buying your own. Visiting award winning pubs in your local area is an excellent way for you to see what is involved in running a successful pub. You might even pick up some tips to use when you buy a pub.
4.) Ask locals what they think of the pub. Ask locals which pubs they prefer in the area and ask them what they think of the public house you are considering buying. Remember not to disclose that the business is for sale or that you are planning to buy it, as this may be against the owner’s wishes and could lead to a breach of your non disclosure agreement.
5.) Raising pub finance will require you to write a detailed business plan highlighting how you plan to repay the loan. You’ll also need to convince the lender that you or your team are able to manage the business profitably and according to your business plan.
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