How to Start Up a Pub

Dreaming of running a pub? Not sure which of a managed, tenancy, leased or freehold pub is right for you? When looking for pubs for sale there are a lot of decisions to make, but as commercial mortgage brokers, Acorn.Finance are able to help.

When an entrepreneur embarks on the venture of quitting their job, dropping out of the rat race and running a pub, their head is full of dreams and business ideas of how their dream pub will run and exactly how they aim to make their money. However, the harsh reality is that the road to becoming a successful business person is rife with challenges. These hurdles prevent many such businesses from even getting past the planning stage.

Business Plan

To begin with, a business plan is needed, as potential  lenders require a basic understanding of the business proposal. This is so they can assess whether they wish to become stakeholders given the risks. It can often be difficult to know where to start when writing a business plan, but a good one should outline all major aspects of how the owner organizes the pub and how they will make their money.
A typical format would start with an executive summary of the proposal, followed by a overall business description. Investors need outlines of how the owner will run sales and marketing too so they can see money making potential. Financial forecasts will be necessary and finally, plans for development in the future. A SWOT analysis can also prove very useful to help identify threats to the business. For example, local competitors or a non-ideal demographic.