If you have never run a pub before, it can be exciting, challenging and very rewarding. Here at Iona Pub Partnership, our policy is not ‘one size fits all’. Each of our tenants are unique individuals with different skills and competency levels, therefore each of our lease agreements and terms are different in order to accommodate your needs and experience.

How does it work?

Iona Pub Partnership is exactly what it says, a partnership between you and us. We offer a variety of non standard leases which are flexible to your circumstances, finances and suitability of the site in relevance to your skills and experience. Our usual agreement is offered with a partial tie on draught beers and bottled beers, however free of tie on wines, spirits and soft drinks. The period of time which we assign a lease for can vary according to a variety of factors including funds, experience and skills, therefore we very much work around what will work for you and us.

How much money will I need?

The cost of taking on one of our pubs varies, on size, location, trading history, fixtures and fittings and length of time on the lease. There is no set minimum amount we can advise, however we do suggest that you do prepare and have access to a form of accessible funds including a working capital. You will also need to provide a security deposit of between £2,000 and £6,000 as an average and have enough left over for some working capital. Your working capital will allow you to trade comfortably during your start up period and help your cash flow. Of course, once you take over the pub you will be responsible for all of the utilities and rent so this must be included in your working capital. We do not insist that you employ an accountant but we do strongly advise the use of an experienced, qualified accountant.

What skills and qualifications do I need?

This may sound like an obvious answer, but have you worked in a pub before? If not, we suggest that you do, it’s a big decision to take on a pub and you need to know what you are going into by getting a taste of it.

You will need a licence.

All premises selling alcohol must have a Personal License holder who is certificated and authorised to permit the sale of alcohol according to the licensing act and conforming to the licensing objectives.

Make sure you can hold a licence.

You can get a Personal Licence (SCPLH) as long as you are over 18 and hold no history of convictions. You can sit the course to obtain your licence with Iona Pub Partnership. You can check with the police or local council to ensure you are eligible.

Once you have found the right pub the lease process begins.

• Contact the appropriate Business Development Manager and meet to discuss the opportunity in more detail.
• Complete a business plan, including financial projections, and discuss with your BDM. This is crucial as it will form your plan for the first year at least and should be reviewed at regular intervals to make sure you are on track with projections. You may wish to use an accountant to help with your financial projections. If you are inexperienced in this area your BDM can go through the plan in detail and advise the best way it could be tackled. Template business plans can be provided by your BDM
• Once your Business plan has been reviewed and you and your BDM are happy with it we can progress to completing our interview checklist. This is to ensure that we discuss all the necessary points about the agreement we are entering into, for example specific tie details, need for a structural survey and money required. At this point we will require photographic proof of identity and evidence of available funds required. We will also require evidence of your personal licence.
• Heads of Terms will then be completed. This details the agreement terms and is signed by both parties, including solicitor’s details for both parties. A copy will then be passed to each solicitor who will then progress with the lease completion.
• You should then apply for the transfer of premises Manager. We can recommend solicitors who can do this for you.
• If appropriate you should instruct a surveyor to complete a full structural survey.
• Your BDM will arrange for you to meet with our nominated beer supplier, Scottish and Newcastle, to discuss any product changes required and set up the appropriate accounts. You will also meet with our nominated machine supplier to discuss the machines required within the pub and how best to manage these.
• You should ensure you have an accountant and stock taker.
• Register for VAT and PAYE.
• Set up your business bank account and any Direct Debits or Standing orders required.
• Arrange business insurance. We can supply you with details of the Business Insurance Bureau where you will be able to obtain preferential rates.
• Set up any other necessary supplier contracts. Your BDM can supply you with a list of our nominated suppliers, all of whom will provide preferential discounts.

Once all of the above has been achieved then you are ready to start running your new business with all of the help and support we can offer. If you require any further information on any of the above please contact one of our Business Development Managers who will be happy to assist.