Starting Up A Pub: What Does It Take?
Nov 29 2018
Starting up and running a pub takes up a lot of a business owner’s time and a lot of effort is involved.
- The business model for the pub must be decided
- The cost associated with starting a pub should be assessed
- An assessment should be carried out on if you are suited to starting up and running a pub
- The rules and regulations of the pub business should be reviewed
- The possible earnings as a pub owner should be determined
- The name of the pub will need to be registered
- Carry out some research into the possibility of getting a Start Up Loan for extra help
What does owning a pub business mean?
The reason why many people are interested in starting up a pub is because they feel that they are familiar with the industry. Eight out of ten of us count ourselves as pub-goers, and a significant percentage of people in Ireland drink in a pub at least once a week.
No surprise then that the pub industry is big business; A report by the Drinks Industry Group of Ireland (DIGI), which was authored by DCU Economist Anthony Foley, states that Ireland has 7,193 pubs. Pubs are becoming more ambitious, especially with the growth of pop-up bars, and customers become increasingly demanding, which can be healthy for profits.
In addition to this, the fact that pubs serve meals as well as alcohol shows fewer people are now content just to go to the pub for a couple of pints. So although the traditional pub is changing, pubs remain central to the Irish way of life. However, running a pub isn’t for the faint-hearted. If nothing else, it’s hard work.
John McNamara, chief executive of the British Innkeepers Institute (BII), says:
“In addition to requiring good people skills you will need to be extremely versatile as the job involves people management, stock management, financial management, catering, drinks knowledge, legal knowledge, marketing and customer service. The rewards, however, can be fantastic.”
As generations of retired footballers have found to their peril, being a pub owner requires commercial awareness and business knowledge. You’ll be managing a team of staff, so will also have to keep on top of employment law, management techniques and training.