How to Own a Pub

So you want to own a pub. Perhaps you always wanted to be Sam Malone on "Cheers," or perhaps you simply want to be a proud business owner of a beloved establishment. This is a great idea for someone who wants a business where life starts at night and there is always some excitement. A pub can be a challenge, and many come and go each year. It requires a great deal of forward planning in order to own a successful pub. You can achieve that in a few simple steps, and you will be well ahead of your game.

Instructions

1. Consult with the Small Business Association. You can find detailed information here about how to start any sort of business. One can spend days perusing their wonderful website that is listed in the Resources section. Since it is a massive website, make sure to decide what you are looking for before you go to it. Having a clear question that needs answering will help you navigate the website instead of getting lost in all the information..

2. Create a business plan. This will be your guide map for your entire adventure as a pub owner. It should include what you want the pub to be, your name for it, what you plan on doing in preparation, what you hope to accomplish, the profits that you can realistically expect, and how you will pull it all together. You can see the Small Business Association for a complete guide to making a business plan.

3. Apply for grants to start your business. There may be even special grants dedicated for your potential business ownership. This depends on many things such as gender, ethnicity and even financial standing. Your particular type of business--a pub--may attract potential investors if word gets out so make sure you apply early for financial assistance.

4. Find a pub for sale. This is preferable to finding an empty space and totally renovating it. The costs for creating a pub from scratch can take years to get back. Find a pub that needs only a slight update in decor.

5. Apply for rental of the pub, or arrange for a purchase. Buying a pub will take a lot longer than signing a rental lease, but it may be a much smarter option if you have a decent amount of cash to start your venture. Leasing could end up getting expensive down the road. If a landlord sees that your pub is madly successful, he may try to get a high rent payment after the first year. He knows that moving would be a pain and could kill your now established business. Seek the advice of the attorney if you have any questions about the terms of your lease. It's probably a good idea to get it check out, anyway, to be on the safe side.

6. Apply for a liquor license. You want to do this months in advance of your scheduled opening night. Do this as soon as you secure your lease or sign to own the property.

7. Decorate your new pub. Decide on its theme and put it to proper display. You may want to create a neighborhood watering hole like Cheers was to its fictional Boston residents. Perhaps you want to create a more upscale feel. You could choose to make it a sports bar and adorn the wall with memorabilia. Keep in mind that it is a pub, and it's kind of pointless to get too fancy with decoration.

8. Buy some pub amenities. A pool table is a great idea for a bar room. Patrons will appreciate this, and you may attract a crowd who come in just to hang out and practice their game. A juke box is also a fantastic addition since people love to pick their own music to chill and drink along with.

9. Put the finishing touches on your pub.

10. Hire a staff of reliable people. Make sure they are people that you like, who seem like a team player and that are more than capable of doing the job at hand. If you treat your staff with respect, they will likely treat you in the same manner. it's a very tough job to be in the service, bar or restaurant industry. If you haven't worked those jobs before, it's a great idea to do so before becoming a business owner. You will have empathy for the tough job they have which keeps your business running successfully.

11. Hire a bar manager, or study up on being a bar manager yourself. It's probably best to hire someone with experience if you can afford to do so. If not, make sure you know realistic expectations of yourself and guests. It's going to be a balancing act of making everybody happy while managing a profit.

12. Preparing an opening night gala. Have celebrities and press there if possible. You want to get the word out, and simply appearing in a magazine with a celebrity involved can bring in a lot of awareness. It's free advertisement that can live on for months and years to come.

13. Go down to your pub often. Keep track of the books and the way the place is handled. This can help you see any areas of improvement that need to be enforced. Knowing your customers is always great for business as well.

Tips & Warnings

• Keep a happy frame of mind--or at least appear to do so--when visiting your pub. Nobody wants to see a grumpy, angry pub owner hanging about while one is trying to enjoy a nice drink.

• Don't rush into owning a pub if it's the first time you've considered it. Think it over for months in order to decide if it works for you.