To lease or buy a pub

OzzieFridge

Hi,
My wife and I are looking at moving back to Ireland in a year or so and thinking about opening a pub. I'm Australian and my wife is Irish. I have over 10 years experience working in a bar in various roles, my wife doesn't have any hospitality experience. We are looking at a small pub in a small town (but not in the middle of no where) that we can hopefully run between the 2 of us plus a part timer to give us time together.
I believe it would be a good idea to lease a pub for a few years or work in one for a few months beforehand to get the gist of how Irish pubs work.
It seems to us that the Irish economy is picking up slowly and hopefully this will filter down to pubs.
Does anyone know of general costs of leasing a pub in Ireland ie insurance, power and anything else?
Thanks on advance

I would have thought that was a declining business Ireland, maybe someone will correct me, but I would research the hell out of it before throwing a big wad of cash into starting a pub be it buying or leasing, either way it won't be cheap. Especially in a small town, it sounds like it would be a hard slog to be honest to make much of a profit, unless you were going in the Gastropub direction, and doing things a lot better then the competition. Be fairly hard to find a small Irish town with a lack of pubs....

endacl

Tbh, you'd probably do better just working in a pub. You'd be paid, would have no chance of losing your shirt, and you could get a feel for the trade over here.

delahuntv

In this month's Drink Industry Ireland magazine there's a report on rural pubs (that would include pubs in towns of less than 5,000 people)

27% have a turnover of under €2,000 a week, 40% have a turnover of €2,000 - €5,000 a week
33% have a turnover in excess of €5,000 a week.

Overall future view was pessimistic with 90% expecting a further drop in trade.

http://www.drinksindustryireland.ie/

maps and atlas

If you're buying, check out the Allsop Space auctions - www.allsopspace.ie

There's an auction in a few weeks time in the RDS.

Pubs and restaurants regularly come at these auctions and I've seen some amazing value - sometimes buyers can be very lucky and have no one else bidding on the lot so you could pick a place up at the reserve price.

Best of luck.

makeandcreate

maps and atlas wrote: »

If you're buying, check out the Allsop Space auctions - www.allsopspace.ie

There's an auction in a few weeks time in the RDS.

Pubs and restaurants regularly come at these auctions and I've seen some amazing value - sometimes buyers can be very lucky and have no one else bidding on the lot so you could pick a place up at the reserve price.

Best of luck.

I looked into the Deadman's Inn, Ballyfin, Co Laois - the owner turned down an offer of 250,000 euro last year. The auctioneer rang a couple of weeks ago to say the bank were forcing sale - if no offer came in it is going to auction. It will be interesting to see how much it goes for.
Also saw a village pub in Laois with 4 bed house at 130k - difficult area to market but possible as a destination gastro pub. Still, village life with a home and small business for that price.
Definitely value to be had - but running a pub is hard work - double that when you are living/working with your OH 24/7. I've seen more than one couple split after trying the "owning a pub" dream. There's a lot of pressures and time - way beyond just the opening hours - I was in a managed house and every Sunday the staff would have a late lunch and play boules/football etc 4-6.30 pm - I'd be stuck in the office doing the end of weeks and purchasing. Week in week out. Sunday before opening cleaning the cellar/lines, Mondays doing wages, ordering for the week,sorting rotas. Cash n carry runs, unblocking toilets and fixing things - constantly, chasing trades or deliveries, covering staff illness. It really did never end - my last manager job I worked over the winter 7 days a week 11am til midnight in the week and 11am til 4am at the weekend (disco).
That said - I loved it. Good Luck whatever you decide.

maps and atlas

makeandcreate wrote: »

Also saw a village pub in Laois with 4 bed house at 130k - difficult area to market but possible as a destination gastro pub. Still, village life with a home and small business for that price.

I think that pub and house were a fantastic bargain at that price. I agree with you on making the place a gastro pub destination.

The new Allsops catalogue out and there's a 820 square metre pub and nightclub in Portlaoise. Reserve is €375k to €425k.

http://allsopspace.ie/auction/lot/28743

makeandcreate

maps and atlas wrote: »

I think that pub and house were a fantastic bargain at that price. I agree with you on making the place a gastro pub destination.

The new Allsops catalogue out and there's a 820 square metre pub and nightclub in Portlaoise. Reserve is €375k to €425k.

http://allsopspace.ie/auction/lot/28743

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Egan's in the town centre closed recently and that had a nightclub and a big bar area. But tis just a guess.

JP Younge is a good one to watch for pub sales as well.
http://www.jpyounge.ie/commercialproperty/the-pier-inn/

maps and atlas

Pub in Avoca, reserve €160-180k - http://allsopspace.ie/auction/lot/28529

Pub in Dundalk, reserve €60-80k - http://allsopspace.ie/auction/lot/16665

Hotel with bar in Tullow, reserve €280-320k - http://allsopspace.ie/auction/lot/28495