Pub turnover up 23% thanks to young licensees

It said that average pub turnover had increased by almost a quarter (23%) in the three years since March 2012, as existing businesses benefited from strong levels of consumer spending.

The study also found that 42% of pub businesses were established in the last three years, while a quarter (26%) have been running for 10 years or more.

It said that recent growth has been driven by younger operators entering the trade, with the number of pub owners aged 25 to 34 increasing by a quarter (25%) in the last three years and now accounting for 15% of total pubs on average.

It also found that over one in five (22%) pubs are solely owned by a female landlady. Women also form a significant proportion of the young up-and-coming pub owners contributing to the industry boom, with a third of operators under the age of 35 being female.

Optimism​

Adam Rowse, head of business banking at Barclays said: “It’s been long-reported that this is an industry met by challenges for pub owners, however our research shows that this has not deterred the next generation of pub innovators from setting up shop. It’s great to see optimism for growth within the sector.

“Beyond the headlines of pub closures, turnover growth and rise of new businesses is encouraging. There also a large number of establishments that have managed to sustain and grow their businesses in the last decade, including those that have renewed their business plans in response to changing customer appetites - the rise in those catering with pub food for example has enabled diversification."