Useful Tips on How to Run a Pub
There are a lot of people who want to own a pub, but it is important that you know how to run a pub. If you are unable to run your bar or restaurant correctly you will find yourself in financial problems very quickly. There are many different points that you need to consider when looking at running a pub.
Know The Financial Implications
Before you look at actually running a pub you need to know all of the financial implications. One of the financial implications that you need to consider is the lease agreement for the pub. These agreements are 5 years and will be subject to the Retail Prices Index. If your pub is in trouble breaking your lease could result in fees and having to pay out the remainder of the lease.
Some of the ongoing financial implications that you need to consider are the raw products including food and drinks, the utilities, marketing costs, staff costs and business costs such as an accountant. You will also need to consider the costs of training your employees. Knowing these costs will help you determine what your profit margins will be and how you should price your products.
The Legal Compliance
Before you pub can open you need to pass certain legal requirements and acquire the correct licenses. The licensing requirements may vary depending on the location of the pub, but failure to comply with them could lead to your pub being closed down. There are four objectives that all regulations will cover, and they are the prevention of crime or disorder, public safety, the prevention of public nuisance and the protection of children from harm.
To run a pub, you will also need to have a liquor license which allows you to legally sell alcohol in your restaurant bar. If you do not have a permit, you are not legally authorized to sell alcohol. Selling alcohol without a license could lead to fines or the closure of your business.
Having A Business Plan
Once you understand the financial and legal obligations of how to run a pub you need to set up a business plan. Your business plan should outline what you hope to happen with the pub and any further business development that you will look at. Your marketing strategy should also be included in the business plan.
In your business plan, you should set specific and realistic goals for your business. It is important that these goals are measurable which helps you keep track of your progress. Being as detailed as possible in the goals will also help you determine if anything needs to change at a later date.
Staff Management And Training
To successfully run a pub you not only need to comply with regulations and understand the financial implications, but you will also need to know how to manage your staff. When you get your staffing right, you can drastically reduce the stress of running a business. To get the best results from your team, you need to plan how you are going to manage them.
One of the most important parts of your staff planning should be the training you have. You need to carefully think about the type of training that you need to provide and if there is any ongoing training that you need to provide. There are certain parts of the training that you will have more control over than others, and you need to plan this out in advance.
It is also possible to hire a third party training company to help you cover the training that you are unable to provide yourself. Health and safety and first aid training should be outsourced along with food safety and customer service.
Having Good Stock Control
One of the keys to success when running a pub is having good stock control. If you are unable to correctly control your inventory levels, you may find yourself running out of food or drink and inconvenient times. There are some systems that you can use to help with stock control, and you need to consider this.
Most electronic point of sale systems will have a stock control system built in. These systems will deduct items that you have sold from the stock that you currently have and alert you when the stock levels reach a preset low level.