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Failte Irish Pub Closed
#1
Sad to see this place close. Their Facebook says "If you haven't heard we are closed (sadly & not by choice)".
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#2
There goes an institution.
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#3
I've mentioned this here before, as advice to people thinking about starting a business: make sure you sign an automatically renewable lease agreement for 25 years. Big corporations like Starbucks and Subway have pre-made contracts like these. Rent + inflation increases are built in, renewable yearly automatically at the leasee's behest.

I've seen too many fine businesses fail because the landlord raised rents dramatically after year one and destroyed their business model. They do that because they know they got you by the b*lls: you invested your life savings in the business and are just starting to make money. So either you give in and send all your profits to them, or close shop and lose all your savings.
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#4
(10-10-2016, 11:42 AM)BuildingScout Wrote: I've mentioned this here before,  as advice to people thinking about starting a business: make sure you sign an automatically renewable lease agreement for 25 years. Big corporations like Starbucks and Subway have pre-made contracts like these. Rent + inflation increases are built in, renewable yearly automatically at the leasee's behest.

This especially applies to location-sensitive businesses such as restaurants and bars.  Office space is more easily replaced -- and your needs will likely change anyway.

Do note, though, that a long-term lease at the tenant's option will be somewhat more expensive as the landlord does not have the option of looking for a new tenant (but the tenant has the option to leave).
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#5
Apparently they trashed the place and took all of their stuff in the middle of the night. Yikes.
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#6
There could be any number of reasons for the "no choice" part of the announcement.
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