PUBSTART!
Ideas And Process
​
As we described simply in the previous pages of our site, here is the opportunity describing the process and further detail.
We are a people business and any contact with us, on the majority of occasions you will be dealing with the principals of PubStart!
Our target market is to purchase either closed or failing pubs and for you the Publican to breath life back in to them.
This opportunity is for experienced and ambitious Publicans who want to work hard to earn the real income they deserve and hopefully, eventually own their own pub.
We are commercial landlords. We do not offer training sessions on how to run a business, how to run a pub, advise you on any legal requirement, deal with breweries or anything that is day to day or year to year, that’s your role. At the same time nor do we interfere with your business, tell you when to open, where to buy from, what to charge etc..The only checks we carry out are making sure you pay the rent and a property condition check once a year which has to be complied with. As we described it’s your business. Once you have done the deal with us, running the pub and pub business is totally in your hands.
We ask you to complete the online application form, this is designed to tell us a little more about you so we can understand your current situation and gives us an indication if we can help you. Once submitted you should hear from us within 24 hours.
The first contact from us would be a telephone call to introduce ourselves and understand a little more about you. If we progress past this we would arrange a meeting with you to discuss further.
If we progress past the face to face meeting, then prior to this we would need to understand the ideal area you would like to operate, do you have a property in mind? It is at this stage we would ask you for your business plan showing us your understanding of running a pub business.
If we find a suitable property for you, you will know the yearly fixed 5 years rent, the fixed cost to purchase the pub after the initial 3 years and the ongoing fixed cost if you want to purchase up to the end of the lease. You will also know the other two annual costs for condition survey and buildings insurance (although these may vary). We only charge you the cost of these and will show original invoices.
We will purchase the property whilst concurrently organising a lease for you. It is at this stage we will require a security deposit of £30,000. This will be held in a solicitors account and is used basically to ensure you sign up for the lease in recognising our commitment in purchasing the property of your choice. This will be returned to you after 6 months of trading less our legal costs for purchase and lease arrangements (both of which you will know beforehand) and three months rent deposit.You will forego the security deposit should we purchase the property and you fail to sign the lease or take on the pub or fail as a business. The rent deposit will be returned to you at the end of your lease, providing the property is not in need of any repairs or it will go towards the purchase of the property should you wish to purchase it.
It will be our duty to hand over to you a property that is watertight and has all the correct certification for the health and safety of the building. Electricity , gas, boilers and heating will all have certificates of compliance. After this it will be your responsibility to maintain these, you must have all inspection, approval and any rectifiable work recorded and must be presented at the yearly condition check.
We do not offer any service for internal decoration, bar fittings, furniture, other fixtures and fittings, all internal decoration will be your responsibility. You would provide us with a plan and timescale upon agreeing to take up the property, which we would monitor to ensure all is going to plan.
The ideal scenario for both parties is that we meet once a year to inspect the property to ensure it is in the required condition and you are doing really well in your business. Providing all is well, the property requires no repairs and we are being paid our rent then we will see you in 12 months time.
​
What Happens Next
We hope that our offer looks interesting to you and you decide to complete our form. If you have done this you will be contacted within 24 hours.
We want to keep things simple and outline our offering on our website. There are obviously lots of legal details that you need to consider and we have these available after our initial telephone discussion.
The telephone discussion is there to broaden our ideas about you and you see if you like us and also for us to explain the principle of the opportunity.
If we decide to move to the next stage of a meeting we will send you full details of the opportunity. This will give you everything we are offering to you and exactly what we require from you.
If after reading you want to progress to the face to face meeting we will arrange a suitable date and venue to discuss further and hopefully reach agreement to progress. If it doesn’t work out then except time and some travel it has cost either party nothing.
​
​
​