How to start your own pub
Many people dream of becoming a landlord. Owning and running a pub can be a lot of fun, yet the joys and freedoms of being your own boss come with extra responsibility. Moreover, there are many things to think about before that dream can come true.
This begs the question: just how can you start your own pub?
Create a plan
As well as being something you need to know inside out, your business plan is something that you need to make important decisions in. Not only will you need a plan to convince prospective partners, investors or lenders that your pub venture is worth their time, the plan will also serve as a gauge for measuring your future success.
Here are some things you need to include when writing a great pub business plan:
- Business concept
- Target audience
- Mission statement
- Competition analysis
- Marketing strategy outline
- Financial projections
Get the right permits
While not the most exciting part of opening a pub, getting the right permits and licences is perhaps the most important. Without these, your pub will be shut down by local authorities.
You need to contact your local council and apply for a premises licence before your pub sells alcohol or facilitates any other “licensable activities”, such as live music.
For your pub to sell alcohol, it needs a Designated Premises Supervisor (DPS). This is one person with a personal licence. Before applying, the future DPS will need to understand the Licensing Act of 2003 and hold a relevant, accredited licensing qualification.
Insurance
What you require from pub insurance will likely depend on your business model. However, you will at least need cover for the following liabilities:
- Public
- Products
- Contents
- Business interruption
- Money on the premises
It’s crucial you know exactly what cover you need and get the right pub insurance to protect your business. Speaking to expert insurance brokers is a smart move, as they will have experience of supplying policies to similar businesses. You can discuss your needs with them and get guidance that will help ensure your pub stays safe in the short and long term.
Work hard and have fun
We’ve covered the crucial things you need to get your pub going. It’s now up to you to do the work needed to make your pub-ownership dream come true – and enjoy the journey as you do so.