Dead Pub... or is it?
Sean O’Meara contacted me this morning. I don’t know Sean from Adam. But he read my response to Jennifer O’Connels article “Over Pubbed” in the Irish Times Weekend Review.
I said I can turn any pub around - even if it’s dead. So here goes.
1st We need to find an enthusiastic owner/staffer who will do what I suggest and allow me design the vision for the Pub. Of course once they understand it they will add their own overall vision as to how it fits with their own dreams. But until then I will drive the bus while they enjoy the view, keep the other passengers happy and do not dare touch the steering wheel.
In order to find this Owner/Staffer - this person who is dreaminig of a different life, I will first present the business opportunity. I know my strengths and weakenesses. Finance is a weakness. I’m not good at it and so I never use it. So someone else may help here.
So thats at 5%. Now, someone in finance may help here and show that it is way less costly than that but for the sake of this lets use 5%.
So we need €1,200 to pay the bank back each month. But remember even though you are in fact paying €300K for the property you are buying potential income stream and a place to live.
So €300 per week is our “have to have” money. The bank must be paid 1st. Debt is Discipline. They have partnered with us to create our dream and they MUST be paid and communicated with at all times - Good and Bad! (I have no affiliation to any bank but I know their value to a process like this).
So we know that for €300 per week, you are getting a 2 bedrooms and a roof over your head as well as a business that could generate €8,000 per week revenue on average. €8,000 will deliver €1,000 to €1,600 per week pure profit. That means, after you have paid the bank, staff and filled your belly with food, you will have €1,000 to €1,600 building up. Of course you will be re-investing this in the early days but I assure you, you only need to ensure that the beer can flow and the breweries will help you here. Their job is to ensure a perfect product comes out. With me involve dthey know they will get an ROI and so will support you to the hilt.
So our target is €8,000 per week on average. This means that in summer it may be €12,000 and in winter €4,000. It is the average week that matters. Then its important to know how that is broken down. Generally, it’s MTWTFSS, 7 days of the week. and €8k will fall into a similar pattern of 200,300,500,1000,2500,2500,1000 = €8,000. So My advice is close Mondays, Tuesdays and Wednesdays in the Winter.
Now you might be saying… but where are the customers to produce the income? Well that’s what I’m really good at and I’m going to help. But before that we need to explore what you see? we need to find a shared vision.
So here is my vision and why I think this Pub will be resurrected.
Pub has an outside area on a busy road
Pub has a long unobstructed bar counter & fireplace
Pub is close to a major attraction “Lough Derg” 6 minutes drive.
Pub has an Irish flag draped on her balcony - no better sign
The Pub is called Hogan’s… wow my favourite Pub name!
That’s all I need to see what can be done. You need to add your passion - whether thats Rock Music or Wind Surfing it matters not! The customers will buy the experience they feel when they are in your company. The experience is called atmosphere. I can help Pubs sell atmosphere.
I will do the work for FREE. All you need… is to learn to see. Once you can see, I can help ensure you get the customers. That’s actually the easy part. The hardest part is finding a vision, a person with purpose. If you don’t have a vision of what your pub will be and feel like to every customer… you don’t have a pub. This is not for you.
But if you have a purpose and that purpose can be helped by living in a beautiful place and contrinbuting to a community then together we can make it happen.