Owning / Leasing a Pub Hotel

[billygoat]

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

Which pub did you look at in Ballarat?

 

[Fatgodzilla]

Ran a pub for 6 months. Pretty much 7 days a week. 6.30am to whenever (mostly 11pm) most days. Didn't have too much trouble except for the women! Carlton Draught on tap (what a terrible beer!). Had its moments but I'm not likely to ever go there again. Just too finicky for my tastes. The trouble is, unless you have a good support crew and close to family and friends, where do you go to for entertainment - another pub or club?

 

[manticle]

local 24 hour laundromat?

 

[shaunous]

Ran a pub for 6 months. Pretty much 7 days a week. 6.30am to whenever (mostly 11pm) most days. Didn't have too much trouble except for the women! Carlton Draught on tap (what a terrible beer!). Had its moments but I'm not likely to ever go there again. Just too finicky for my tastes. The trouble is, unless you have a good support crew and close to family and friends, where do you go to for entertainment - another pub or club?

If it was your Hotel, would your thinking be different?

 

[shaunous]

local 24 hour laundromat?

Jokes aside, a guy I know that bought a few Laundromats years ago and he was the cash king. Be different in 2013 I suppose, but he was rolling in a porches when we were in corolla's.

 

[mxd]

Which pub did you look at in Ballarat?

Battlers Tavern

 

[mxd]

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.

the issue with the bottle shop is markup is only about 20% and if there drive through it's 80 hours of staff required, and with coles/woolies etc.. moving into grog at the supermarkets it's just getting harder.

 

[Pickaxe]

Licensing can be a nightmare. Being a licensee is stressful without strong experience. That in itself can be risky, MASSIVE fines for non compliance. Still, it is a lifestyle, as well as an occupation. Forget holidays. Is like running a hotel/resort on premise. 24/7 365. If you can live your work it could be rewarding, but very tight financially. You need to be a liked generous tight arse.

 

[mr_wibble]

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

Yeah you're right. I was thinking of the income tax exemption.

 

[///]

Only place i get cut off from is our own pub ...

 

[Greg.L]

Something really important with a business that a lot of people ignore is increasing the capital value. What things can you do without too much expense that will increase the value of the pub? Don't be sucked in to using just your own tastes and values, look at the things that really make a pub more valuable. There are often a lot of little improvements/renovations etc that make the business more attractive when you come to sell, often improving the presentation of the outside and entrance. That way even if you don't get the profit you are expecting you can make money when you sell up.

 

[Mardoo]

Something really important with a business that a lot of people ignore is increasing the capital value. What things can you do without too much expense that will increase the value of the pub? Don't be sucked in to using just your own tastes and values, look at the things that really make a pub more valuable. There are often a lot of little improvements/renovations etc that make the business more attractive when you come to sell, often improving the presentation of the outside and entrance. That way even if you don't get the profit you are expecting you can make money when you sell up.

Awesome advice GregL, thx!