Before you decide that running a pub is what you want to do, it is important to know the difference between a tenancy and a leasehold pub. Both can be a good choice, but you need to make sure that you go for the one that works best for you.
A tenancy is often most attractive to beginners who haven’t run a pub before. When you take on a tenancy of a pub, you are not the owner, you rent the premises from a brewery or a pub business and will have the lease for a set amount of time that you will agree upon when you sign the tenancy agreement.
Usually, a tenancy ties you into buying the stock for the pub from the landlord or a certain brewery, however there are some available that have a partial tie in, so you can have a little more flexibility of where you order from.
You will also be self-employed, and it is up to you to hire staff for the pub and pay their wages.
A leasehold pub is taken on for a longer time period, and you run it as your own business. When you run a leasehold pub, it is a more costly thing to start with, however it does offer more freedom and allows you more control over how you run the business.
There are types of funding like this finance for pubs that can help you too when you are running a leasehold pub. Although you can be tied in, because you have more control over the business, if you make it very successful you have the option to sell it for a good profit further down the line.
