Expectations And Obligations
Mark S. Elliott has spent 25 years working in various management roles within the tenanted and leased divisions of the UK's largest breweries and pub companies. His extensive knowledge and day-to-day involvement with pubs and publicans make him well qualified to know what is required to run a successful pub. He shares his knowledge and many 'insider tips' with you in this book. Mark is based in Cockermouth, Cumbria.
EXPECTATIONS AND OBLIGATIONS
You must be sure that you have an opportunity to make a profit and that there will be sufficient income to meet your expectations and obligations.
How much money do you need to meet any personal obligations you may have? Mortgage payments on a house that you wish to keep, children’s school fees, credit card payments and maintenance payments are all examples of your personal financial obligations. It is important to have worked out how much you must earn to cover them. On top of these, you may feel your efforts in running a pub require a certain level of income to make the job worthwhile. You will have to be realistic about this as it may take time to build up the business to fulfil both your expectations and obligations, and some pubs may never do this. You have two choices:
- Find a pub that will meet your expectations and obligations.
Or
- Adjust your expectations and obligations.
