The British pub is etched into the hearts of the nation. Every long running soap opera has a well known public house, and we are known for our love of our local. The pub trade is currently experiencing rejuvenation and there are many new establishments popping up throughout the country. If your ambition has always been to run a pub or you are looking for a change in career, there are a few simple steps you can follow to give your bar the best possible chance of success.
To begin with, it is important to learn the bar trade. By gaining experience in the sector you will not only gain insight into the responsibilities of owning a pub, but you will also make any finance applications seem more attractive to lenders. Visit other bars to see what they are doing and what they have to offer that is making them successful. Subscribing to industry magazines will give you an insight into developments within the trade, such as new strategies and technologies. Attending trade shows enables you to connect with other retailers and distributors and discover new drinks and trends.
If you need to apply for pub funding, we can assist. When you take out a mortgage on a pub, you are buying a property and a business together, which can make the process challenging. We can arrange the finance solution or mortgage that will work for you. Every commercial loan is different as they depend on certain factors and the lender in question, but a freehold business will typically involve a 15-20 year mortgage.
We have vast experience in securing finance for public houses and other areas of the leisure and hospitality sector. Our team can help you to find the right business mortgage and pub funding options to cover all important factors including the license, the internal fixtures and fittings and the building. We specialise in helping our clients achieve their personal and professional ambitions and our experienced and knowledgeable team will provide you with all the advice and assistance you need when it comes to pub, hotel and bed and breakfast finance.