Are you looking to take on a tenanted or leased pub business? Do you know about all the costs involved in running a pub? To help you out there’s a useful guide to costs from the British Beer and Pub Association to keep you informed.
It’s particularly important to know all the facts if you have to discuss leases on tenancies in the UK pub trade.
The guide covers typical operating costs in the pub industry and includes data from the British Beer and Pub Association member companies on how much it costs to run a pub that is tenanted or leased. It’s a very important piece of information for anyone who is looking to invest in the pub industry.
It will also be a useful comparison tool as current tenants and lessees will be able to benchmark their businesses against industry norms. It will demonstrate the average cost of running a pub against a range of models based on business type and turnover. It will include those whose focus is more on beverages as opposed to food and vice versa. It will also take into account other costs which include size and location of the pub as well as how old the building is, if any repairs are needed and operating styles. It will cover a range of scenarios providing you with a variety of costs that could be applied to your pub.
It’s always important to look for a Company that has an accredited Code of Practice. Details of which can be found below.
For a more general discussion on the costs of running a retail business see our earlier blog post at: https://retailaccounting.wordpress.com/2012/07/03/thinking-of-starting-a-retail-business/
A guide to costs for tenants and lessees: http://s3.amazonaws.com/bbpaprod/attachments/documents/resources/21191/original/Running%20a%20Pub%202012%20FINAL.pdf?1352971737
Pub Industry Framework Code of Practice: http://www.beerandpub.com/industry-briefings/pub-industry-framework-code-of-practice