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If you want to travel a lot, you don't necessarily have to be super wealthy. In fact, there are all kinds of ways that you can creatively stretch your travel budget. Want tips on finding budget accommodation? Want to know how to dine like the locals without going over budget? Want to enjoy activities such as scuba diving, guided walking tours, renting yachts and more? Well, surprisingly, with the right approach, you can save money on those activities as well. This blog is devoted to all those aspects of travel and tourism. Ready to have fun? Then, take a look at these posts.

3 Things You Should Consider Before Buying Your First Pub

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If you like to drink in your local pub, you may dream of one day owning your own drinking establishment. When people dream of owning a pub, they often imagine polishing the pumps while chatting to the regulars and watching sports on the big screen. However, it is important that you realise that owning and running a pub is very different from drinking in one. Below is a guide to 3 things you should consider before you invest in a pub for the first time.

Is the market right for you?

Unfortunately, the rising cost of beer, an increase in people drinking at home and increased awareness of the damage excessive alcohol consumption can cause to the human body have all contributed to the decline of the Australian pub. While it is still possible to make a profit from a pub, to do so you need to be certain that you are entering the market at the right time. It can be difficult to turn a struggling pub around if the market is moving against it. It is twice as hard if you have purchased that pub using a high-interest loan. Before buying a pub, you should seek expert advice from a financial adviser and a property broker who specialises in pubs.

Are you the type of person who can manage a pub?

While many people believe that running a pub just involves pulling pints, this isn't true. As the owner and manager of a pub, you will need to be highly organised so you can coordinate deliveries, organise the staff rota while also following developing trends within the industry. You will also have to be committed. Running a pub often means starting work well before the doors open and finishing your day long after the last drinker has gone to bed. Finally, you will need to appear calm and happy when speaking with your customers even if you are having a terrible day.

What kind of establishment do you want to run?

Before you decide on a pub for sale, you should think carefully about the kind of establishment you want to run. Do you want to create a homely feel? Will you welcome families? Or would you rather cater to truck drivers and motorcycle gangs who want to drink in an establishment where they can go a little wild? The answer to questions such as these will inform the choices you make regarding interior design, the music you play and the types of drinks you serve.

If you think you have what it takes to run a pub, you should contact a broker today.

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30 April 2018