Buying a Pub, restaurant or small hotel business

Buying a business in the catering sector no matter what the size or style is by its nature a highly emotive process. Catering businesses in particular are inevitably a personal reflection of the owner’s values and style. This is the time when we are all at our most susceptible to acting with our hearts rather than our heads or more specifically our potential bank balances.

Potential profit is all too often seen as an upside to running a fantastic restaurant or stylish bar or trendy hotel, rather than the reason for being. The dream stands fore-square in front of economic reality.

A very quick solution to all of this emotional stuff is to have a clear profit objective from the start and a planned exit, whether it is 3 years or 30. And you need to be really detailed about exactly what you are buying and why you are buying it. Rule number one last years figures aren’t nearly so revealing as last weeks!

In terms of site acquisition never under estimate location. No matter how fantastic or unique your idea, don’t be tempted to compromise on the quality of the location just because you are so sure your product is going attract people from far and wide. How long before someone nearby copies what you do, but in a better location!  

Spend time getting the right match of product and site. How often have we all seen a new interesting coffee shop or eatery in a quirky location flare up and seem to do really well for a while and then die off. Well I’ve certainly done it and I have seen many others make the same mistake too. Don’t kid yourself you’ll over come the natural flow of shoppers or diners for very long

Please call or email for an outline discussion, but here are some ideas of cost

Site Appraisal        £587.50

Includes the following:-

A detailed inspection of the business and trading figures with present owner.

Visit potential competition, either from the perspective of the present business or for your planned development.
 
Review your plans for the business with you, question and probe them.

Produce a business plan from those meetings to support finance application.

Report back with opinion in simple report form in 24 hours.

This can all normally be done in one long day with pre and post communications.