It’s certainly not a career for me but I absolutely love bartending. Wish I was a millionaire and could own my own little pub. Building relationships with regulars and getting to have my ear to the ground with local politics and events is fulfilling in a way.
It’s a very rough time owning a business like this unfortunately at the moment. A friend of mine owns a bar in chesterfield, not even particularly large, and it costs him over 4k per month just on heating. We had floods recently and his cellar flooded, destroying a lot of stock and electricals, as well as requiring cleanup which cost him 6k as insurance refused to pay out (act of God). That kind of thing, plus the idea floating around that govt are going to hike taxes on alcohol even more in the immediate future are putting incredible strain on these sorts of businesses. He loves it as you describe but the poor bloke hasn’t actually made any money above his operating and living costs in the 14 months he’s owned it.
I feel bad for your friend, but it’s not true that insurance wouldn’t pay out for flooding because it’s an ‘act of god’. That’s a myth. Flooding cover (and business interruption cover for the loss of income as a result of an insured event) is covered as standard in business protection policies.
What I think must have happened is that when your friend was arranging the insurance he did not provide accurate information about the material circumstances (i.e. the facts), such as the history of flooding at the premises. That was I’m sure a genuine oversight. However, the insurer can say that they would not have agreed to ever cover flooding if their questions had been answered correctly, and therefore they can legitimately refuse cover.
Any policyholder can challenge their insurer’s decision and when they have a final decision they can refer to the Financial Ombudsman Service within six months.
It’s certainly not a career for me but I absolutely love bartending. Wish I was a millionaire and could own my own little pub. Building relationships with regulars and getting to have my ear to the ground with local politics and events is fulfilling in a way.
It’s a very rough time owning a business like this unfortunately at the moment. A friend of mine owns a bar in chesterfield, not even particularly large, and it costs him over 4k per month just on heating. We had floods recently and his cellar flooded, destroying a lot of stock and electricals, as well as requiring cleanup which cost him 6k as insurance refused to pay out (act of God). That kind of thing, plus the idea floating around that govt are going to hike taxes on alcohol even more in the immediate future are putting incredible strain on these sorts of businesses. He loves it as you describe but the poor bloke hasn’t actually made any money above his operating and living costs in the 14 months he’s owned it.
I feel bad for your friend, but it’s not true that insurance wouldn’t pay out for flooding because it’s an ‘act of god’. That’s a myth. Flooding cover (and business interruption cover for the loss of income as a result of an insured event) is covered as standard in business protection policies.
What I think must have happened is that when your friend was arranging the insurance he did not provide accurate information about the material circumstances (i.e. the facts), such as the history of flooding at the premises. That was I’m sure a genuine oversight. However, the insurer can say that they would not have agreed to ever cover flooding if their questions had been answered correctly, and therefore they can legitimately refuse cover.
Any policyholder can challenge their insurer’s decision and when they have a final decision they can refer to the Financial Ombudsman Service within six months.