The first step towards establishing a successful business is having a solid plan. Creating such a strategy requires effort and a clear understanding of your goals and aspirations. This is the stage where you visualise your pub business and ensure everything is clear; from the amount you plan to invest, the location, number of employees, as well as your identity.

An imperfect plan means a weak foundation for your business. Give it your best and if need be, seek professional help.

Your Step-by-Step Guide

List your skills down: The fact that you thought of establishing such a business means you might have a skill you think will be valuable to run it. Assess your abilities and if you are doing it with someone else, list down whatever skills you think they will bring into the business. Outline all your strengths and weaknesses and determine whether you need a helping hand in accomplishing some of the tasks that play a big role in running a pub.

Do a market survey: You must study the market you are targeting with your pub. Look at other pubs to know the kind of competition you are likely to face and come up with a great strategy to make sure you set yourself apart from the rest. Consider some of the things your target clients might be interested in and ensure they are available.

Do a SWOT analysis: SWOT analysis is basically an assessment of your strengths, weaknesses, opportunities and threats. This helps you to understand your proposition to those you are targeting, helps in addressing your shortcomings and know what your potential risks might be. Create a list of all these and think of the best way to handle some of the challenges you might encounter in the course of running the business.

A business plan must always capture your pub’s journey, as well as its goals.