Recent content by johnsmith5001

  1. J

    Advice for a new pub business please!

    Hi all. So a few more details to what people have commented so far (and yet more questions, sorry!!) So... the situation is, the bar was running for several years. The current leaseholder wasn't directly involved with the day to day running of the place, they had a manager doing it for them...
  2. J

    Advice for a new pub business please!

    Hi Mark, That would be amazing thank you! Would you possibly mind messaging me your friend's email, ideally with an introduction? I'm new to this site, is it possible to direct message on here and exchange email addresses?
  3. J

    Advice for a new pub business please!

    Please if you can though, what am I likely looking at in terms of the professional fees of accountants, solicitors and a surveyor for the transaction? I've emailed off for quotes but as it's the weekend, I'm unlikely to hear back and would like some idea of what experienced people would expect...
  4. J

    Advice for a new pub business please!

    Ha. Scared of flying unfortunately. Vegas a no-go. Within what they're currently doing in terms of sales etc, assuming no expansion or improvement, and assuming the lease were not renewed, our creditors would be paid in full so the only person losing out would be me and whatever the ingoing...
  5. J

    Advice for a new pub business please!

    So essentially the situation is: The lease runs until end of March 2025. It's 99% likely to be renewed as the existing company that share the building during the day (an office) have been there 15+ years and are not likely to be going anywhere, but due to them not making a final decision for a...
  6. J

    Advice for a new pub business please!

    Hi guys. Little bit of an update now I've seen the books. We're quite likely to go for it. I wonder if you could advise me about costs of the following: surveyors report accountant fees solicitors fees for taking on the lease. I've obviously factored in the general running of the place costs...
  7. J

    Advice for a new pub business please!

    Hi Paul. Thank you so much for your reply. Here were my fag packet calculations. I wonder if you could possibly advise as to where I'm likely going wrong/what I've missed out. I'm sure there are glaring errors but if you can advise it'd be really appreciated. So: If we assume 1200 covers per...
  8. J

    Advice for a new pub business please!

    Thanks for the tips so far. So from the preliminary chat I had with the existing leaseholder, the profit at the moment is about £1000 per week, but as I said above, there's potential to grow that. I'm currently doing a general breakdown of costs for my own research before I see the books in...
  9. J

    Advice for a new pub business please!

    Hi all! Right, so, essentially an opportunity has come up to take over the lease of a rock music bar near me. The existing lease only runs until March 2025 but is able to be renewed (subject to rent being paid on time etc). The lease is available as the existing owner has developed a personal...
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