The pub industry is thriving again and there’s never been a better time to take the plunge and become a publican. The biggest hurdle to overcome though is obtaining the development finance or upfront capital needed to buy and run a pub. That’s where specialist commercial lenders can help. They have helped countless people to get the commercial mortgages that they need to buy the pubs they truly want to own. Find out more about Finance For Pubs by visiting www.specialistbusinessfinance.co.uk/hospitality-finance/finance-for-pubs/
The type of loan that you need will depend on your plans for the business, including whether you want to expand into a new location or make improvements to your existing premises. To fund this it’s important to have a clear idea of how your business generates revenue and what expenses are involved – this may involve gathering information from other pubs, industry associations or a professional forecasting tool.
Buying your pub outright is the most desirable route, but it can be expensive. Leases, on the other hand, offer lower risk and are much easier to transfer when you’re ready to move on.
There are a range of ways to access pub loans, from taking out a commercial mortgage or secured loan through to a merchant cash advance or revolving credit facility. It’s important to consider your options carefully, and a professional advisor will be able to provide advice on what might work best for you. Lenders will also expect to see detailed accounts and a robust business plan before approving funding, as well as providing security if required.