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A Fin24 user asks advice about opening a pub. She writes:
My brother and I have an idea of opening a pub in Mpumalanga. We hope to expand the concept to other parts of the country.
However, the challenges we face are among others getting a liquor licence and how to obtain finance.
How should we proceed?
Entrepreneur and director of Fetola, Catherine Wijnberg responds:
Hi there!
Research shows that alcohol consumption increases when times are tough, which is a good indicator for you opening a pub at this time!
But you seem to have bigger plans than just one pub? If you are planning to ‘go big’ and eventually franchise your business you must focus on getting the basics right from the start.
This includes a strong theme and branding, as well as all the right licences and a solid set of management systems (including financial management) that will allow you to replicate the business. Why not do a search on the internet for advice on "how to franchise my small business” or visit the Franchise Assist website for some detailed pointers.
Fetola also offers support to growing businesses such as yours, and a free set of SME tools to get you started.
The truth is that business success is mostly about hard work, courage and passion ... and remember not to drink all the profits.
Good luck!
- Fin24
* Share your experience of setting up your business and get published or simply ask a question. Our business panel can put you on the right path.
My brother and I have an idea of opening a pub in Mpumalanga. We hope to expand the concept to other parts of the country.
However, the challenges we face are among others getting a liquor licence and how to obtain finance.
How should we proceed?
Entrepreneur and director of Fetola, Catherine Wijnberg responds:
Hi there!
Research shows that alcohol consumption increases when times are tough, which is a good indicator for you opening a pub at this time!
But you seem to have bigger plans than just one pub? If you are planning to ‘go big’ and eventually franchise your business you must focus on getting the basics right from the start.
This includes a strong theme and branding, as well as all the right licences and a solid set of management systems (including financial management) that will allow you to replicate the business. Why not do a search on the internet for advice on "how to franchise my small business” or visit the Franchise Assist website for some detailed pointers.
Fetola also offers support to growing businesses such as yours, and a free set of SME tools to get you started.
The truth is that business success is mostly about hard work, courage and passion ... and remember not to drink all the profits.
Good luck!
- Fin24
* Share your experience of setting up your business and get published or simply ask a question. Our business panel can put you on the right path.
