The agent

Krishana Singh, negotiator, Fleurets (London)

Through history, the "local" has always played an important role in the social life of the UK public, and often helps to form the backbone of a community.

However, pubs today

are battling with soaring costs, fragile consumer confidence, the impact

of the smoking ban and, with the price of oil forecast to hit $150 a barrel later this year, the average licensees would be excused for having a lot on their minds.

In a challenging environment there are

very few speaking with any optimism for the future of the pub trade. So just who will be the winners in today's market?

The general consensus seems to be that pubs that can adapt are best placed to survive. We hear market commentators cry "do something different", "introduce food", "live entertainment" and now even "salsa classes!". The list is endless and is set to get more flamboyant by

the day.

Whilst evolution is important for many pubs seeking to differentiate themselves from their neighbour and achieve the edge over competition, it is also extremely important to understand your market in order to avoid mixed messages and confusion amongst both existing and potential customers.

Playing to your strengths is key, though following the crowd — the "introduce food and all will be fine" mentality - is not necessarily the way forward.

To many (including myself) a good pub consists of good beer, friendly staff, nice food and a great atmosphere.

Today's market presents openings — every downturn creates opportunity and entering the pub trade is no different. What other trade allows you to be your own boss with a relatively low cost of entry, while creating a home and enjoying the variety and freedom of

day-to-day life?

To a degree, the future of the market remains uncertain, although in my opinion, those that can spot opportunity will no doubt reap the rewards.