Before entering into a partnership with us, we want to make sure that you fully understand the financial and physical commitment you will be making.
We advise that you thoroughly examine the public house, as well as seek advice from professionals in the licensing trade.
If you are interested in a particular public house you can view the vacancy details to see the volume information, as well as the expected investment required. You can use this along with our proposed rent, rates payable and our price list to determine how profitable you believe the business can be under your management and based on how you propose to operate the business.
After submitting your business plan, we will decide whether to carry your application on to interview stage. At this point we will review your calculations and we will also show you our shadow P&L (Profit and Loss) account, which we create using reasonable assumptions about how a new Business Partner will run that business. We use this shadow P&L to determine the rent for the pub.
Your business plan will give you the opportunity to create your own proposed P&L as well as a Cash Flow for the business. We recommend that you show your calculations to an Accountant.
Another factor that you might not be aware of but ought to consider is the current team employed by the public house. You will be required by law to carry on the employment of the current team as stated in the Transfer of Undertakings (Protection of Employment) Regulations (TUPE). A solicitor will be able to advise you further about this element of taking on a pub.
In terms of repairs, you will be given a detailed breakdown of who is responsible for what before your agreement begins. However, as a rough guide, we are responsible for the structure of the building (eg if a window frame is rotten) and all non-structural repairs will be your responsibility (eg if a window pane breaks). You are also responsible for interior decoration and keeping the gardens and grounds attractive.
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