Jump to content

Waggon & Horses, Millhouses

Recommended Posts

You aught to try the Millhouses further down Abbeydale Rd. Avoid the Robin Hood though unless you just want a drink.

 

I thought the Millhouses was becoming a sports bar

Share this post


Link to post
Share on other sites
I thought the Millhouses was becoming a sports bar

 

Hope you're kidding? Just what the world needs, another sports' bar.

Share this post


Link to post
Share on other sites
Hope you're kidding? Just what the world needs, another sports' bar.

 

I kid you not. Aparrently Millhouses has a dearth of sports bars.

Share this post


Link to post
Share on other sites
Looking at the website looks like you are right,must give it a try.

 

Will be interesting to see how that goes good luck to them.

 

https://www.facebook.com/TheMillhousesSheffield/?tn-str=k*F

 

Another terrible leasehold it would seem.

 

Changes hands on a relatively frequent basis, can't compete with the buying power of the Robin Hood or the Waggon. From a try at Gastro to Sports, knowing how Enterprise and Punch operate I'm afraid it will be another tenant trying to make ends meet soon enough.

 

Still on their webpage too......

https://www.eipublicanpartnerships.com/run-a-pub/pubs/pages/millhouses-sheffield.aspx

 

Potential turnover: £378,000.00 per annum

Introductory Rent: £20,000.00 per annum

Estimated Capital start-up: £25,250.00 (excl VAT)

 

Note the word potential! £1600 a month in rent, plus business rates and utilities. And there is a note that they plan to increase it "This pub needs personal investment of time, effort and skills to realise its potential. Our vision for this pub is a business capable of sustaining a rent of £33,000.00 per annum." So they will want almost 3k a month if you start doing well. On a tied lease, so your GP will be circa 50% at best. (Most bars run nearer 80%).

 

378k is 7.3k a week, well there is not a prayer that business is taking a grand a day. 1000 a day at an average £3.50 a pint 285 drinks a day. I reckon it would do well to do 5k a week in its location. Maybe 260k a year, minus VAT leaves 208k. Half is profit. 104k. minus rent (at the lower rate) and utilities 36k ish leaves 68k. And you haven't paid any staff yet or taken a wage yourself! You can now afford to pay 4 people on NMW.

 

Sorry but as with a lot of enterprise leases the numbers won't add up.

Share this post


Link to post
Share on other sites

Agree with you there jamesogt.

 

That pub has failed so many times despite having loads of money thrown at it and the competition particularly the Robin is well established and not expensive.

 

It is also just in the wrong position a little away from the park and the busy junction.

 

Would be nice to see it succeed but the odds are stacked against it and the pub co seems to be living in la la land with those estimates of turnover,don't think it has ever been busy in the day on weekdays so thats a hell of a lot of turnover to do at night!

Share this post


Link to post
Share on other sites

Wow. Didn`t see that coming although I`d noticed it was closed recently. And thanks James for the stats - very illuminating. Again, hope it works. If there are quality drinks on offer, (unlikely with Enterprise) I`d certainly watch sport there. The Picture House are also now showing football which I was surprised by. We`ll see.

Share this post


Link to post
Share on other sites
Another terrible leasehold it would seem.

 

Changes hands on a relatively frequent basis, can't compete with the buying power of the Robin Hood or the Waggon. From a try at Gastro to Sports, knowing how Enterprise and Punch operate I'm afraid it will be another tenant trying to make ends meet soon enough.

 

Still on their webpage too......

https://www.eipublicanpartnerships.com/run-a-pub/pubs/pages/millhouses-sheffield.aspx

 

Potential turnover: £378,000.00 per annum

Introductory Rent: £20,000.00 per annum

Estimated Capital start-up: £25,250.00 (excl VAT)

 

Note the word potential! £1600 a month in rent, plus business rates and utilities. And there is a note that they plan to increase it "This pub needs personal investment of time, effort and skills to realise its potential. Our vision for this pub is a business capable of sustaining a rent of £33,000.00 per annum." So they will want almost 3k a month if you start doing well. On a tied lease, so your GP will be circa 50% at best. (Most bars run nearer 80%).

 

378k is 7.3k a week, well there is not a prayer that business is taking a grand a day. 1000 a day at an average £3.50 a pint 285 drinks a day. I reckon it would do well to do 5k a week in its location. Maybe 260k a year, minus VAT leaves 208k. Half is profit. 104k. minus rent (at the lower rate) and utilities 36k ish leaves 68k. And you haven't paid any staff yet or taken a wage yourself! You can now afford to pay 4 people on NMW.

 

Sorry but as with a lot of enterprise leases the numbers won't add up.

 

Fantastic summary. It's not rocket science and yet so many people (often couples) get drawn into signing a contract.

Share this post


Link to post
Share on other sites
Fantastic summary. It's not rocket science and yet so many people (often couples) get drawn into signing a contract.

 

To be fair I did omit that you get to live for "free" as your living costs are absorbed by the business. But still it is a lifestyle choice, you are not going to get rich. Best case scenario is that you can make a living and not be worried about cash flow/debt all the time.

 

The issue is the lease owners don't let you make any money. As soon as think you are earning over 30k a year they up the rent.

 

The reason it attracts couples is the fact that you need two people to do all the work just to keep it open. I would bet that most lease hold couples are near 100hrs a week between them. With the rest of any money going on a couple of bar staff and a chef or two. The key is to work a food offer as that is the only thing the PubCo can't skim from. But the casual dining scene is over populated, if Jamie Oliver is struggling then you know it's tough.

Share this post


Link to post
Share on other sites
That's not their website - it's their facebook page and requires their password

 

Its their public facebook page lets you in if you are logged into facebook.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.