Saturday, December 05, 2009

Mark Daniels: The Myth of the £2 pint...

SteveW thanks for responding. As it happens I know quite a few tied operators who paid that kind of money for their lease. Mine was free of premium but I did have to pay £21K to the pubco for trashed f&f that went into skips. Then initially I spent £100K refurbishing a decrepit building to a standard that got it looking great decoratively but could not budget for new services, water, gas, electricity which all still need attention 15 years later... The cost of the rent and tied supply I pay now would cover a £900K mortgage. As it is I have a tied lease that's worth a lot less than I put in and have not drawn a wage from the business for three years. Like thousands of other lessees I am trapped in a financial nightmare; it's better to stay on and earn nothing than it is to get out with nothing except debt that cannot be repaid without the business turning over. Are you trapped? Does your business make a profit? Do you draw an income? If you sold would you get back more than you put in?

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