Between 2008 to 2012, between four to five thousand pubs in Britain called last orders and closed their doors for good. So why do we think now is the best time to open a new venture in these uncertain economic times?
Analysts at Deloitte pointed out in their report “Taste of the Nation 2012” that there has been a ‘counter-intuitive’ increase in overall food and drink outings despite the uncertain state of the economy, rising inflation and reduced spending power. The report concludes: “Despite these concerns numerous consumers are not willing to compromise on going out…they are looking to cheer themselves up with good value occasions.” In other words, a night out remains one of life’s little luxuries, even more so when times are hard.
It’s our belief that even with hundreds of pubs closing every year there has never been a better time to open a micropub, and here’s why:-
1. Lots of empty shopfronts on the High Street mean a big choice in premises (just make sure there are plenty of chimney pots and passers-by);
2. Councils are eager to see shops in use again and some are offering interest-free matching loans or even grants to help with refurbishment and signage;
3. Landlords are keen to see their shops providing an income, so most will probably agree to lower their rent or provide a rent-free period on the back of a strong business plan;
4. There is plenty of used (but still usable) bar equipment and furnishing going cheap on eBay and Gumtree or yours for the taking on Freecycle.
As the old saying goes, in crisis is cleverness born.