Owning / Leasing a Pub Hotel

[Mardoo]

Do you like late nights? Love being the host of the party? Don't mind putting the dickheads back in their jocks (in their proper place)? Into creating a good scene for good things to happen? Don't mind a bit of vomit? Don't mind huge staff turnover? Have a totally awesome business partner? If you have a spouse is she into the idea too? Don't mind that your business is helping provide alcoholics with the means of their own destruction?

Those are a few things that come to mind from my experience. It can be really fun. It can be trying, but then what business can't be? I haven't owned, have only managed. You'll need to learn cash flow accounting so you have a fighting chance. The cash flow issues kill a lot of independent pubs.

 

[wide eyed and legless]

I agree with Mardoo and its a lot of hard work with little return for the amount of work you would put into it,stick to what you know and buy some other investment property.

 

[eamonnfoley]

You could start accepting "bitcoins" to get the nerds

 

[shaunous]

Do you like late nights? Love being the host of the party? Don't mind putting the dickheads back in their jocks (in their proper place)? Into creating a good scene for good things to happen? Don't mind a bit of vomit? Don't mind huge staff turnover? Have a totally awesome business partner? If you have a spouse is she into the idea too? Don't mind that your business is helping provide alcoholics with the means of their own destruction?
Those are a few things that come to mind from my experience. It can be really fun. It can be trying, but then what business can't be? I haven't owned, have only managed. You'll need to learn cash flow accounting so you have a fighting chance. The cash flow issues kill a lot of independent pubs.

Cash flow management ey?

All the rest of that seems fairly familiar, more research needed. Cheers Mardoo..

 

[mr_wibble]

True that mxd, there is a lot on the market, the price if alcohol these days has skyrocketed and the average Aussie 'cannot afford to drink at the pub now'.

It is a 24/7 job that's for sure...

Yeah, I reckon it's bullshit the way registered clubs can evade alcohol taxes.
It should be a applied to everyone, or applied to no-one ... but don't get me started on chari-businesses.

 

[mxd]

Yeah, I reckon it's bullshit the way registered clubs can evade alcohol taxes.
It should be a applied to everyone, or applied to no-one ... but don't get me started on chari-businesses.

???
really
the excise is paid by the producer ?

 

[Mardoo]

Cash flow management ey?

All the rest of that seems fairly familiar, more research needed. Cheers Mardoo..

Just to be completely clear I am thinking very seriously of owning my own pub one day. I'm not naysaying at all, those were just the things that came to mind.

Cash flow accounting is the best thing I ever learned business-wise. There's no business it's not useful in. Well, maybe owing a bank :huh:

And good luck to you if you decide to go all the way. It's hard work but it gets in your bones.

 

[shaunous]

Some people just love pubs because there pubs, I am one of them. Being in a pub with the sound of Sky Racing and the smell of spilt off beer is my therapy. I can see why some people would hate them and only use them to get drunk, and never return until that next binge, but not me

 

[manticle]

I know nothing about running pubs.

However is it something you really would want to do and do you have an exit strategy if it goes tits up?

People change careers all the time - if you have other options, you can always try and see.

Lot of work, lot of stress but most things worth doing are.

All this applies whether or not you choose to take up this particular opportunity - the practicalities of that are presumably what you are researching now and i wouldn't even attempt to make suggestions one way or the other.

Is it a dream? If it doesn't work, will it **** you?

 

[dicko]

Why don't you get a job in a pub for a while and "test the water"....

you will soon know if it is for you or not. :unsure:

 

[shaunous]

Why don't you get a job in a pub for a while and "test the water"....

you will soon know if it is for you or not. :unsure:

I have thought about that for years, but, after working as a diesel fitter through the day, last thing you wanna do is that, but I have snuck behind the bar many times and helped change kegs and all that kinda bullshit.

Yeh manticle, I've got my trade to always fall back on.

There has been a bit of a speed bump, seems as though the owner might have decided to give the pub to his daughter and son inlaw.

 

[maxim0200]

Bugger mate, we could have had a big meet up! :lol:

 

[shaunous]

Lol, yeh.

I'll better wheelchair myself down there this arvo and get the goss I think....

 

[mxd]

well if he's giving it away (as in lease hold) then remember me

Over the last 6 months I've looked at a few and been disappointed.

 

[shaunous]

Your a long long way away from ill ol' Grafton MXD...

I could never work in, manage or own the new 'retro' style of pub that the whole of Australia seems to be turning to. My 6 years in the Gold Coast was hell, looking for a normal pub was nigh on impossible.
Small country pub, smallish bar, wood fire, TAB, BIG beer garden and tunes. That's me...

 

[mxd]

I was looking at country pubs, 15000 population +, I looked at on in Balarat, Sale, Wondonga, seymour etc..

 

[pcmfisher]

Watch out not to drink the profits.

 

[GrumpyPaul]

Former neighbours of mine owned one of the pubs in Mansfield up until a year ago.

They worked bloody hard, she had to have another job to make ends meet in the early days. They invested a bucket load did big renos put in a nice bistro restaurant and catered to the big tourist trade.

When I visited once they said they only made profit because of the tourist trade, if they relied on the locals it would be worth the bother.

Hope this is a useful tidbit.

Goodluck with it to anyone brave enough to give it a shot

 

[shaunous]

Watch out not to drink the profits.

Yeh, true dat

 

[shaunous]

I haven't seen the figures as yet, but going by myself sitting in there frequently, the attached drive through bottle shop would be making most of the mullah. The 'ding ding' bell as a car drives in never stops... But I'm only guessing.