Introduction
The average return from the stock market is 7.5% annually. Running a pub is not a 9 to 5 job. You’ll need perseverance, time management skills, and resolve to succeed as a landlord. An average bar makes between $25,000 and $30,000 per week. Profit margins stick close to 10% to 15%. Pricing of beer and alcohol are the source of most profits.
Startup Preparation
A successful bar will be prepared and ready for any situation. A bar that is properly stocked and prepared benefits staff, customers, and management. Starting a bar business requires obtaining licenses and permits, registering for taxes, and acquiring funding.
Customer Care and Environment
Clean as you go. Customer care is vital. Your customers are your survival. If they are happy, you will be happy. Ensure your guests enjoy a welcoming environment that they want to come back to.
Pub Business Insights
- Is it profitable to run a pub?
- A pub business plan is a guide focused on abilities and knowledge of the founders and key employees. An action plan laying out how you’ll turn your pub from a concept to a thriving business.
- In general, the average revenue for a successful pub can vary widely depending on various factors, but a rule of thumb is that a well-run and established pub with high-end offerings can generate anywhere from $1 million to $4 million in revenue per year.
- There are three different ways you can choose how to run a pub – a tenancy, a lease, or freehold. For many, taking on a tenancy or lease can be an extremely profitable way to run a business and gain invaluable experience within the pub sector.
Qualifications and Skills
- What do I need to be able to run a pub?
- To run a successful pub as a self-employed trader, you’ll need lots of relevant knowledge, experience, and training. The two essential qualities you need in order to run a pub successfully are business awareness and enthusiasm for the pub trade. You should also get experience working in a local pub if you haven’t already had some.
Guidelines for Running a Pub
We have years of experience in this business and can attribute our success at running pubs to a small but meaningful set of guidelines, which anybody who wants to know how to run a pub should seriously follow. We call them the 5C’s©, these are:
- Control
- Cost Effective
- Cleanliness
- Customer Service
- Creativity
Pros and Cons of Pub Tenancy
We won’t lie, running a pub is hard work, but it also offers excellent business opportunities as well as the chance to be your own boss. So, what are the pros and cons of taking on a pub tenancy? A pub tenancy has the lowest entry costs and is considered one of the easiest ways to have your own pub business.