Financial Requirements

 

Financial Requirements
 The cheapest method of taking over a licensed trade business as a self employed person, with a substantial agreement, is that of a tenancy business.
To have adequate funds to take over a tenancy, you will need a minimum of £10,000-£12,000. These funds will cover your estimated ingoings.

What is an ingoing?
When we receive details of an available property from say a brewery company, it will have a total ingoing, which is the estimated sum of money needed to take over that property, under that company's agreement.
But as all companies differ in their agreements, what is covered differs accordingly.

 

A typical ingoing could
cover the following:-

Trade Inventory
Optional Inventory
Wet and Dry Stock
Glassware and Sundries
Loose Catering Effects
Letting Room Linen
Cash float
Rent in Advance
Insurance in advance
Brewery Deposit
Dilapidations Deposit
Professional Fees
VAT where applicable

 

It is unlikely that an ingoing will allow for working or backing capital,
and certainly will not cover expenses such as removals etc.

When you receive a set of details from us, if you are in any doubt about monies,
please ring Mark Jenkins to discuss your queries.

You can contact our Senior Partner Mark Jenkins on 020 8390 7833

Ingoings on leases and freeholds are different again,
and generally cost substantially more.
Again, please contact Mark Jenkins for further information.


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