This is something I've been thinking about at the moment, in the heat of a global pandemic, but it's also a question I'm interested in more generally. I live in London, England, and the pub is a staple of British culture. But throughout my lifetime (I'm in my late-20s) we've been fed a narrative of inexorable pub closures, mainly in non-urban areas, but also in our cities.
Walking through London now, you're bound to pass several boarded up pubs, especially if you stray from the busy areas. Yet equally, in non-pandemic times, every pub I'd go to (and I've been to a pretty decent range of pubs across the country) was relatively busy. So the consumer demand is still there and I would've thought the supply of premises going up would drive prices down, so why aren't pub closures plateauing?
I have a kind of romantic notion of trying to snap up a very cheap lease for a pub at the moment, given that the conditions for pub ownership are not good, and then running it with some friends/colleagues in tandem with my other small business (media comms). My heart wants to do it but my head says this is a stupid idea but I'm also not quite equipped to say why opening a pub seems such a surefire route to financial ruin. Any thoughts or observations gratefully received!