Posted on 03/02/2010 4:33:18 PM PST by Yaelle
In this economy, even Rush Limbaugh said to turn your luck around by creating your own destiny, doing what you'd love to do. What if you would love to buy a pub, and such an opportunity is before you?
Have any of you done this? What were some of the pitfalls? What are the big decisions that factor into whether or not to take the plunge?
The opportunity that presents itself in this instance is of small capacity, maybe 50 persons, light and airy, with a kitchen for pub food as well. Location could be listed as "Could NOT be any better." Water view, tourist and local favorite area, plenty of foot traffic.
The long work day, or no free evenings, weekends, and holidays, does not frighten us.
What do you think?
Just don't kick out the smokers. They need love too. :)
Have you ever run a business before?
I mean, hands on?
Don’t drink up your profits.
Ping for small business (pub) advice!
The insurance premiums would frighten me.
Will give advice for pints.
If you have no experience working in a bar, I would get some ASAP before making a decision.
No smoking in CA. Whatcha gonna do?
Hire staff that don’t drink alcohol?
No need. The state will do it for you.
You’re nuts.
Nothing personal, but unless you’re willing to forget about EVERYTHING you’ve ever known (including this site), you will not stand a chance. It’s vicious out there and the government will make your life HELL.
Other than that, best of luck.
Do you have experience working in a pub or restaurant? If not a trusted and experienced employee would be very useful.
Don’t drink and eat your profits..
I think he’d insist on doing every job in the house under the current owner as a condition of sale.
Some business experience and some restaurant bar experience but never as the owner!
I am part owner of a pub for the last 7 years.
The best advice I could give you:
1) location is EVERYTHING
2) start menu very low budget with high profit margin foods like wings,fries and Pizza
3) play the beer vendors off each other to get best deal
4) start all people part time and keep the best for full time
5) remember what Rodney Dangerfield said about the business world in ‘Back to School’....prepare to ‘grease’ certain government inspectors and zoning officials
6) have fun!!!!!!!!!
Make sure you hire a competent chef and that you remain passionate about your business (and on top of your staff). The staff need leadership and discipline from you, or your business will fail.
This is from Chef Ramsey’s “Kitchen Nightmares”...
You should watch a few episodes of Gordon Ramsey's Kitchen Nightmares. He identifies a lot of common sense fixes for failing restaurants, chiefly, the food not being freshly made, too many items on the menu, the menu not distinguishing itself from the other restaurants in the area.
Of course, you will be responsible for the drunks that have accidents after visiting your pub, so that liability is something to consider. Sounds like an exciting opportunity if you decide to take it. Keep us posted.
I'd love some more details. Extreme local gov't is good, but of course we are within the great state of Culliforneeah...
And we are not nuts for CONSIDERING it, are we?
Bless you — great, precise advice, all points. THANKS!
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