Is it even possible to consider setting up my own business at 18?

cheapgames

I have always liked the idea of setting up my own bar. However at 18, is it even possible to get anyone to loan you the sort of money required... of course I understand my lack of experience I wouyld seek good advice.. also im aware bars are difficult as theyre loosing money all week except 9pm onwards saturday and sunday

Emmzi

well it is a great ambition but it is notorioulsy difficult to make money in the pub trade.

Are you from a family of pub owners?

Have you thought about getting a traineeship with one of the breweries? Learn the trade, and then risk the cash?

I am afraid it is unlikely a bank will lend to you with none of your own cash at risk. However there are job for managers of brewery owned pubs while you save up.

Hammyman

Not a chance. No Magistrate in the country would give an 18 year old a licence.

pjcox2005

Realistic ambition to own a pub, but I would imagine you won't be in a position to do successfully at 18.

As mentioned issues with lending and getting a licence but also to make it work you'll need a clear understanding of the key points of bar/pub work.

I'd suggest you look at getting bar jobs (potentially in a couple of places whether at once or over time), learn the trade e.g. simple things like changing a barrel,use that time to almost quiz management, ask what their job entails etc.

Put serious effort in and I can see a couple of things happening:

• Promotion for better money/further training
• Experience to apply to manage a brewery pub
• Knowledge and expertise to give owning a bar a go should you still want to.

19lottie82

Hi OP – Funding / License issues aside, I don’t really think you have thought this through, or really looked in to it….. I don’t mean to sound nasty or patronising here, but I’m going to be totally honest with you here……

“You fancy running your own bar”……
Have you actually ever worked in a bar, or just had a few good nights out in them with your mates, and think that it would be similar, owning your own – ie a huge party?

I worked in bars for almost 10.5 years (Feb 2000 – July 2011), and the bottom line is, pubs do not make money anymore. I cannot emphasise this enough! When I worked in my first bar, it was expected to take at least £1000 on a Friday / Saturday night, now you are lucky to take even half of that, in fact that would be considered a busy night!

Pubs are dead during the week, daytime and evening. I have worked in a variety of bars and in recent years, you’re lucky to take £150 - £200 open – close Sunday – Thursday. All you can do is HOPE you take a decent amount on a Friday or Saturday night, but more often than not, this doesn’t happen.

I couldn’t tell you a single bar that isn’t struggling at the moment. The reasons including but not only…..

- People simply don’t have the spare cash anymore.
- You can buy a case of beer in the supermarket now for £10
- There are too many pubs, full stop.
- The drinking culture is dying of death. Even as recently ago as 10 years ago, men used to go to the pub after work for a couple of hours before going home, this doesn’t really happen anymore.
- The effects of the smoking ban have definitely had an adverse effect. IMO it has taken a few years to see it, but publicans are most certainly feeling it.

Of all the booze you sell, you’ll make about 30% on this (most of the time, you can’t buy @ supermarket deal prices, you have to buy at inflated prices from the brewery) and from this you have to pay wages, rent, taxes, entertainment costs, accountant, and all other costs, of which there are a LOT!

If you really want to follow this career path, you should try what one of the other posters suggested – get a job with one of the large pub chains and work your way up, see if they will put you on a management training scheme, there is far more money in this than owning your own pub, plus a lot less hassle. But I would be willing to bet, that after a short while, you will become very disillusioned!

dmliverpool

Hammyman wrote: »

Not a chance. No Magistrate in the country would give an 18 year old a licence.

True, the age is an issue if not the kiss of death. Why do you want the stress of managing drunks and emptying their wallets? Whats your motivation? Selling beers to your mates and being a club promo guy? lol:D

The best way is the long way, by setting up a food establishment, then proceeding, after a good operating record to selling beverages with food then you can have the all you can drink night club lol :beer:

The motivating factors for a business to sell drinks this way is simple, to make money fast and this has to be the most risky and stressful way of all. Also the booze is a day before sell by date to get it cheap and is almost undrinkable and watered down. Is that a place you want your name associated with. Next you'll say I want to open a itty bar. It's the last hurrah and legacy of pre-credit crunch student indulgence that will be gone but to only the rich. Think of all the fighting and vomit:eek:

p.s by then you'll be 30 and will want a more stable life, we live in hope.

eamon

Nobody gets rich running a pub for somebody else. So stay away from pubco's. Apart from that the only two things that matter are location & freehold.

19lottie82

eamon wrote: »

Nobody gets rich running a pub for somebody else.[\QUOTE]

Richer than running your own pub, in this economic climate.

Aelius

The pub I managed in Scotland wasn't struggling. Why? Because we tapped into the tourist trade. Good quality pub food, good stock of real ales [which sold out as soon as they were delievered!] and a real fire for the winter months.

I've just moved back to Northumberland, and there are quite a few similiar pubs, dining areas always fully booked and packed out bar areas. It's all in the management.

emsywoo123

I think OP you need to be clear about whether you mean pub, or bar. I think the food service element is significant.

Or I would if you were lot older and had far more experience. sorry, didn't want to patronise but there really is no other way to put that

paddyrg

Spend at least a couple of years learning the trade by working for other people. Try the holiday parks, they are always looking for good people and will train you if you look interested and show potential - and you will get used to the realities of cellarwork, stock management, cash handling, managing entertainment etc on somebody else's watch which will be a huge help for when you apply to the justices for your own license