Are you looking to take on your own pub but overwhelmed by the pub company options? It doesn't have to be hard to make the right decision – just make sure that you ask the right questions. From understanding tenancy agreements and how rent works to exploring what extra services are available, these 10 questions should be on your list to make sure you can make a well-informed decision that is best for you.
- What does an agreement look like with you? You want to know the deal, is it a three-year tenancy, a managed partnership – you want all the details!
- Will I be tied to buy from you? Understand what you have to buy from them and what you can source yourself. It's also good to explore the range they offer so you can understand the benefits or restrictions to what you will be able to offer your customers.
- Do you offer Landlord and Tenant protection? This is a big one. Something you should want in place as it gives you more control over your future. If you follow the agreement, then you can decide whether or not you renew, it's in your hands, not the pub companies.
- Who is responsible for building insurance? This will greatly impact your business plan and budgeting, so make sure you’re clear on who’s responsible for what.
- How will you calculate my rent? You need to understand how this works so you can budget and plan accordingly.
- If I do well does this affect my rent? Every pub company wants their business owners to succeed but be clear on what success looks like for you and the pub company, now, when you do well, and when you renew.
- Who pays for repairs? This will massively affect your budgeting and which pub you choose to take on if all the costs are on you.
- What support do you give your business owners? Ask how much or little support you will get, what will they support with? It’s nice to know you’ve got a wealth of knowledge behind you should you need it.
- How do you invest in your pubs and business owners? Will they help invest in big projects like outdoor spaces, festivals, etc., or is that all on you?
- How much will I need to take on this pub? You should always be able to get a figure if you are interested in a particular pub and the pub company should be open to discussing this with you.
If you would like to get the answers to all these questions and more about partnering with Everards, we would love to chat. Call the team on 0116 201 4260.
Jay shares 10 questions you should ask pub companies when looking to take on a pub Watch Video