There are countless articles online that tell you all about the risks of opening a restaurant or buying a pub; there are very few that prompt you to move forward with this dream. If you are thinking about buying a pub during your retirement, there are risks involved, but ultimately, it is something you should consider doing, and here's a look at why.
1. It's your dream
If you have always dreamed of owning a pub and you have the money to invest in it now, you should do it. Many people aren't lucky enough to have a fun and busy "third act", and if you don't jump in now and spend your retirement fulfilling this dream, you won't get another chance.
2. It provides you with a job
When you buy a pub, you get a built-in job. You get the joy of greeting customers, pulling pints, cooking meals and managing a staff. More and more people are having to work through their retirement, and if you buy your own pub, you avoid that trap by essentially creating your own job.
3. It may provide your kids with a job
If you want to give your kids an extra boost on the way to success, buying a pub and hiring them may be just the thing you need to do. If your son or daughter is a promising chef, an intelligent business manager, a warm and inviting host, or any other role that fits into a pub, you can create a lifelong career for that child when you buy a pub and hire him or her.
4. It is a great way to meet people
Whether you buy a pub in your own community or buy one in a place where you hope to spend your golden years, you are likely to meet a lot of people. Instead of wondering what to do or who to call for fun during your retirement, you can simply go to work at your pub and meet a fun cast of characters there.
5. Property can be a valuable asset
When you buy a pub, there are several ways to configure the sale. You may just buy the business and lease the building, but in other cases, you buy the entire building and its surrounding land. If you do the latter, you are stepping into the Australian property market which has been booming over the last few years.
Although there is no way to predict what happens to property prices, the chances are high that if you buy a pub now, you will have a property that is even more valuable on your hands in a few years. Learn about your options by contacting companies like John Parsons Hotels.