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Year 2000

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  Starting in the licensed trade: Becoming a tenant.

Also see: 'Pubs and Clubs & Bars' for sale [click here]

Want to start in the licensed trade?

The licensed trade can be demanding but there are excellent rewards to be had in return for the investment of your time and money.

A good pub is usually the product of a dedicated tenant/lessee, who must be committed to providing consistently high standards and excellent customer service over long hours.

Becoming a tenant.

When you become a tenant, you become the boss of a business in a highly competitive market place. That's why it's important to do it right!

It's advisable to get plenty of professional advice from Solicitors, Brokers / Valuers and Accountants. Your bank Manager is likely to be an invaluable source of support and guidance - so you'll need a well prepared business plan showing your proposals for developing the potential of the property.

You'll need to decide which kind of pub suits your financial circumstances, talents, temperament and level of commitment. Types of business can vary from local community pubs through to sophisticated food operations.

Do your homework!

When taking on a pub, you must be satisfied that you are getting value for money. It is advisable that you visit sites as often as you can to gain a greater picture of the trade before signing an agreement. Clarify exactly what is included in the transaction, particularly the extent of the property and trade inventory. Get a professional valuer to do a Trade Inventory of the fixtures, fittings and stock, as this must be purchased by you at an additional price.

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last modified: Novemeber 1, 2001