If you are looking to buy a pub, you need to know the right direction to follow. This will help you make the right direction on the pub so that you can run a successful and hassle free business thereafter. There should be no rush in the process if you want to purchase a viable business that will be up and running in a short time and which will give you returns in earnest. Knowing a simple guide in the process of buying a pub can make the purchase painless.
Carrying out feasibility studies is always advised for any business. You have to make sure that the business is capable of paying back your investment and earning a profit. You can get an agency in Australia to do this for you. They have the experience and resources necessary to find out the information that is needed. This is especially important if the pub for sale is in an area you are not familiar with. Using a local agent is convenient as they most likely have historical data for the area. The needed information includes the goodwill, the staff turnover, license terms, and customer traffic. You might even need to have the pub valued and surveyed by an independent agent.
Licensing and Legal Issues
Running a pub is often highly controlled by law. You need to know the legal requirements in a particular area even before looking at the pubs for sale. A lawyer can help with the legal processes such as getting a personal pub license. The lawyer will also ensure that the purchase goes on smoothly by examining all the legal documents that are needed.
Consent from the Landlord
The landlord is the third party in the purchase process. He has to approve the deal since you will be operating in his premises. The landlord often considers your experience and resources that can show him that you are capable of running the business and paying the rent. It is important for you to ensure that the seller has paid all the debts accrued to the landlord. If he has not, you need to enter into negotiations with both the landlord and the seller as to how that is to be discharged. If there are repairs needed at the pub, you also need to be clear as to who is to cater for them. Therefore, to go through the process of purchasing the pub smoothly, it is important to have professional guidance at all stages.