Steps to be taken before buying or leasing a pub
- May 19, 2015
There are many pubs for sale that are advertised through the internet and many other sources. These pubs for sale are sold on different basis, some of them being: free hold sale of pubs, leasehold/ tenancy sale of pubs etc. if you plan to buy a pub or to lease it, you have to consider many aspects in mind, before taking a decision.
Buying a pub and running it under your own governance is not that easy task to do with. Managing and running a pub is entirely different from running any other business. There are many uncertainties involved in this business, and one has to be aware of many different factors that exist in pub business, some of the major difference being the loss of alcohol license, property damage, staff injuries and securities etc. all these licenses will further increase the insurance cost.
These pub insurances are generally different from normal business, as these insurances are particularly designed to carter the risks involved with these pubs and other happenings in the pub, which deal with public and serving with alcoholic contained beverages which are considered to be the main risk factors. And that is why these risks are included in the form insurance policies.
These pub insurance policies generally include policies like the public liability, employer liability, theft of cash and sometimes property too, personal assaults, loss of alcohol license etc. it is always recommended to comply with licences and their terms and conditions, and this always keeps you out of trouble as you avoid paying penalties and landing in to other problems. This step is considered to be the major one to succeed in your business.
One should never forget that pub is all about business decision and sometime he/she needs to be swift to take decisions that can be flexible in nature. In fact while buying or leasing a pub you can understand that it’s not just a home like pub but a business involving many critical decisions to be taken. This applies especially to the new comers in the field of pub business, they must analyse themselves that whether they really posses the skill that is required to run a pub, and even have to check out their patience as pub timing are often last for long hours and the owner and its members need to be socialable and active to keep up their potential customers.
Apart of this, there are many other basic insurance policies that are involved under the pub activities, these are: function room facilities, pub’s kitchen, lodging and children’s play areas etc. these policies are covered because of the involvement of high risk. Thus seeking advice and help from expert and experienced persons always helps you to compare various costs and prices and enables you to get the best out of various deals and this gives you a good start for your business.