THE AGENTS

Perusing the Morning Advertiser last week, I realised just

how much the impact of the smoking ban is preoccupying everyone - and yes, it is important to assess the likely the impact of the ban and then devise a strategy to combat the downside.

It is the purchasers and their bank valuers' perception of sustainable trade that will impact on the price you achieve for your pub. So don't wait for drinkers who smoke to disappear out the door without making every effort to explore another obvious revenue stream - food.

Since 1992, according to the Office for National Statistics, the value of spending on eating out has doubled.

The focus on eating-out spending is not predominantly at the luxury end of the market - it is more at the sharp end where potential customers say, "I can't be bothered to cook tonight - let's eat out". They know that it has become almost as cheap to eat out as it is to cook at home.

The indications are that the market still has potential

for vast growth, with predictions from market analyst

Euromonitor, among others, of a five-fold growth in the size

of the fast casual dining sector by 2010.

TV programmes have generated greater interest in food and disposable income is rising.

The GLAMS (grey-haired, leisured and moneyed), thanks to private pension schemes and house-price inflation, have far more income to spend than they ever had before, enjoying meals out with friends or a leisurely drink.

So, apart from working on upgrading any outside areas, if you have one, to cater for smokers, think about whether your pub could offer food or more food to sustain trade.

Granted, this won't help publicans without a commercial kitchen - for these people, the loyalty of customers and their ability to give up smoking will be crucial!

For the rest of you, however, the eating-out market

presents an opportunity to boost sustainable trade and, ultimately, the value of your pub.