Location, location, location. So what’s the right location for your new bar or pub? Well, it depends on your concept, business plan and budget.
If your pub is based in the middle of the city where there are lots of natural potential customers, it may be perfect for sales but your rental will be very high. In fact, other costs may be higher as well.
On the other hand, if you are based out-of-town, property prices will be cheaper but you’re not going to get any ‘walk-in’ customers and you’ll have to work harder to attract patrons to your pub.
In a way, by spending more money on rental to be in a highly populated area, it could save you on advertising, marketing and other operational costs as you’re likely to get automatic customers from pedestrian traffic and natural brand awareness.
Do note though, that your competition may be greater in the city as well, so when you consider all the possibilities, it does come back to your concept and business plan to decide on what’s the most suitable choice – in the city, outside the city or somewhere in between.
A lot of it really does come down to common sense. If your concept is an all-day family pub with a garden, full kitchen and entertainment for kids, it may not be feasible to be located in the city centre.
So, before deciding on the location for your new pub or bar, try and be very clear about your vision and concept.