Funding The Business
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.
HOW MUCH WILL IT COST?
As mentioned in the first two chapters, the amount of money that will be needed to acquire your pub depends on whether you decide to take a tenancy, lease, or buy a freehold property. A new tenancy or lease can be obtained for as little as £ 15,000, while freehold pubs can cost up to £ 2 million in some cases. Your options will be largely dependent on the financial resources that you have available. In this chapter, we look at the different ways of obtaining your pub and look at the ingoing costs of each, this being the amount of money you will need to obtain your pub in the first instance, and does not include running costs (as discussed in Chapter 3).