New career

I am at present looking for a change of career after haveing been in the IT industry for the past 20 years.I have recently went to view a small local...

I am at present looking for a change of career after haveing been in the IT industry for the past 20 years.I have recently went to view a small local village pub which has been closed for a number of months.There has been plenty of interest from property developers but as it is the only pub in a village of approx 100 homes, the villagers are refusing to allow change of use.The asking price is O.I.R.O. £150K.The customer area of the Pub needs general refurbishment, the bar itself is passable, the toilets need a complete overhaul, the kitchen is a tiled wall shell no applances storage etc., the cellar is a room behind the bar with no equipment at all, the beer garden would keep Alan Titchmarsh occupied for a month or so.The upstairs accomodation needs completly gutting and redoing.There are no working accounts to see the past years trading.I figure on a budget of £50K to get the bar and living accomodation uo to scratch, with personal savings of only £10K this means I need alot of financial backing.Any advice on how I should go about getting financial backing who I should approach, costs such as installing cellar equipment and pumps, how much profit you should expect to make from a barrell of beer/larger, what sort of solicitor should I be looking for to complete the transaction etc. etc. etc.Basically I am looking for as much infromation as possible to help me take my first steps and decide whether this is a viable business or should I not touch it with a barge pole

Many thanks, Dean

Dean Thompson

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