Stephen Taylor, MD, Guy Simmonds

How much more can the pub trade take? We're faced with the obvious anti-alcohol stance of the Government, yet complete inaction on the powerful supermarkets selling alcohol virtually at cost.

To make matters worse, the smoking ban is devastating many outlets' takings, with no real evidence of non-smokers rushing to occupy the vacated seats, while the end of fixed-rate mortgages is wiping out £200 to £300 per month of many households' disposable income.

Food and utility bills are going through the roof, and road fuel costs almost £6 per gallon, predicted to hit £9 by the end of the year. And all this before we even consider the trade's internal problems such as overheads and red tape.

Not a pretty picture! The licensed trade is going through major trauma and a long period of adjustment, which will take several years.

At Guy Simmonds we understand and very much sympathise with licensees' predicament. Those at the trade's front line would be totally justified in asking "Who on earth would want to buy a pub today?"

Unlike some recently-established competitors who have only experienced good times, Guy Simmonds has witnessed several significant economic downturns in more than 30 years of business, and understands what is necessary to ride out these unfortunate, but inevitable, economic cycles.

We are now seeing increasing redundancies (especially from corporate, banking and City sectors), which will force those affected to fundamentally evaluate their life options.

And so we will see the emergence of the next generation of pub-owners, who will focus on the inherent appeal of having a pub — its sociable lifestyle, convenience of combined working and living environments, satisfaction of running one's own business and the undoubted opportunity for competent operators to produce excellent revenue profits plus potential for lucrative capital growth.

Those wishing to sell in potentially long-lasting tough market conditions need to understand the criteria by which a pub business is valued. Mere hope and kite-flying are not on the list!

Because vendors need access to the vital next generation of licensees rather than merely trying to appeal to existing operators, Guy Simmonds has developed its unique award-winning training academy for those planning to enter the trade.

This unique source of prospective purchasers has produced a record quarter of sales completions.

(many of whom have considerable cash resources) has produced another record quarter for sales completions of both freehold and leasehold businesses.