7 ms·

Someday I hope to own my own little pub, free and clear, and just do that for the rest of my life. It wouldn't be stress-free, but I enjoyed my time working in

Someday I hope to own my own little pub, free and clear, and just do that for the rest of my life. It wouldn't be stress-free, but I enjoyed my time working in a bar, and I like the idea of operating a little community hub.

Complexicate 6y ago
As someone who (finally) went from employee to small business owner, I wouldn't wait for "someday". Start the process while you're still working now. Take the time to learn everything you can to make this happen over the next couple of years. "Free and clear" stops a lot of people, but it's not as important as knowing how to scale up and down so your cash flow is always above paying your debts. There will be balancing acts whether you own the building or not. Figure out the minimum sales you need to survive, and plan the maximum size you can grow to. You can start toward "free and clear" by negotiating a "lease with the option to buy". Considering recent situations, hire a lawyer to put contingencies on rent in case of government mandated shutdowns or reductions. If this is truly a dream of yours, don't wait. Start looking at locations and gathering information.
- dkural 6y ago
  Sometimes the dreaming is sweeter than the doing. Why ruin a perfectly fine fantasy?
  - Cthulhu_ 6y ago
    I for one will continue to dream about winning the lottery and owning a bigger house. No clue what I'd do if I never had to work again though, I'd probably find some kind of employment anyway to keep busy.
greggman3 6y ago
If you'd like running a pub well, thank you for being that person. Seriously I'm glad some people want to do it. Me, I remember the first time I was sure I didn't want to do that. I met a lady running a bar/restaurant/hub. It was clear her life was the place. It was open nights so she was there every night. It had lots of events. No more free nights for her, going out with friends, dancing, dinning etc. Her nights, while she did get to greet people, were mostly running around the place putting out fires. I'm not dissing that life at all. If she enjoys it that's great. It's not for me in the same way I'm sure staring at a computer screen is not for her.
biztos 6y ago
I have a similar dream, but knowing lots of people in the business I plan to do it only in “retirement,” by which I mean whenever I have enough money to live without the bar/café making any profit. Because one of the key things I’ve learned from those I’ve known in the business is that it’s sometimes very, very stressful to make your living this way. And, as the pandemic has shown us, sometimes hard work isn’t enough.

Complexicate 6y ago

As someone who (finally) went from employee to small business owner, I wouldn't wait for "someday". Start the process while you're still working now. Take the time to learn everything you can to make this happen over the next couple of years. "Free and clear" stops a lot of people, but it's not as important as knowing how to scale up and down so your cash flow is always above paying your debts. There will be balancing acts whether you own the building or not. Figure out the minimum sales you need to survive, and plan the maximum size you can grow to. You can start toward "free and clear" by negotiating a "lease with the option to buy". Considering recent situations, hire a lawyer to put contingencies on rent in case of government mandated shutdowns or reductions. If this is truly a dream of yours, don't wait. Start looking at locations and gathering information.

dkural 6y ago
Sometimes the dreaming is sweeter than the doing. Why ruin a perfectly fine fantasy?
- Cthulhu_ 6y ago
  I for one will continue to dream about winning the lottery and owning a bigger house. No clue what I'd do if I never had to work again though, I'd probably find some kind of employment anyway to keep busy.

greggman3 6y ago

If you'd like running a pub well, thank you for being that person. Seriously I'm glad some people want to do it. Me, I remember the first time I was sure I didn't want to do that. I met a lady running a bar/restaurant/hub. It was clear her life was the place. It was open nights so she was there every night. It had lots of events. No more free nights for her, going out with friends, dancing, dinning etc. Her nights, while she did get to greet people, were mostly running around the place putting out fires. I'm not dissing that life at all. If she enjoys it that's great. It's not for me in the same way I'm sure staring at a computer screen is not for her.

biztos 6y ago

I have a similar dream, but knowing lots of people in the business I plan to do it only in “retirement,” by which I mean whenever I have enough money to live without the bar/café making any profit. Because one of the key things I’ve learned from those I’ve known in the business is that it’s sometimes very, very stressful to make your living this way. And, as the pandemic has shown us, sometimes hard work isn’t enough.