Where do you want to live?
Many buyers of pubs and other licensed premises first of all get a feel for where they would like to be living and then start to explore what opportunities for buying or leasing are available.
Freehold or Leasehold?
There are benefits to both and as a buyer you need to consider which route best suits your particular needs and to a degree your business ambitions. It is a question we are often asked, particularly for those entering the licensed trade market for the first time. If you’re not sure which is the best route for you do please give us a call.
Do your sums
You will need to establish how much money you want to invest in the business, how much you may need to borrow and of course it is always prudent to go through a fairly comprehensive due diligence process reviewing and questioning the financial information that is available for those properties you are interested in.
Consider the competition
All business sectors are competitive and the licensed trade sector is no different. In recent years though with the sector having a sort out with the demise in particular of uneconomic pubs those that remain have had to up their game and therefore are much better positioned for new owners to take over and make a success of. It is always worth checking out the competition by simply being a customer or in some respects a mystery shopper! Don’t forget to take along something to jot down your ideas for how your offering can be better than the competition!
Ask for advice
Our team have a significant amount of experience over a number of years in the licensed trade sector. Whilst we act for our clients who are selling we are also always keen to offer as much advice and help as we can to potential buyers, so if you have any questions that you would like answering please do get in contact with us. We will be delighted to be of assistance.