Sitting in a beer garden on a summer afternoon, many of us have dreamed about packing in the nine to five and becoming a pub landlord.
How hard can it be, we might ask ourselves - especially having seen pubs packed to the rafters during the World Cup.
But the reality is that buying a pub in Britain is not for the faint-hearted.
While it is easy to fall in love with the building or lifestyle, the business fundamentals are more of a challenge.
Shifting drinking habits, higher employer national insurance contributions, higher wages, surging energy bills, and higher input costs have put huge pressure on pub margins and profits, prompting many to close.
According to the British Beer and Pub Association (BBPA), approximately 15,000 pubs have closed in Britain since 2000.
But some pubs are still making decent money - as their owners have picked the right location and property and are clever about how they run it.
This is Money examines what to consider when buying a pub - and where to buy one if you feel you are up to the task.
Brave enough? Buying a pub is a dream for many Britons, but it's not for the faint hearted
What to consider when buying a pub
There are multiple factors to take into consideration when considering buying a pub.
Freehold or leasehold
Leasehold publicans pay a rent to the freeholder, usually a pub company or brewery, for a fixed period. They don't own the building or land.
This is a cheaper option, but the freeholder may impose requirements such as ties. A tie is when the leasehold pub owner is contractually obliged to buy certain drinks from a particular brewery or supplier.
Freeholders buy the building and have more control, but this is more expensive.
James Halpin, a partner and head of commercial at So Legal, said: 'A freehold purchase generally offers greater flexibility, whereas leasehold pubs can come with significant restrictions over how the business operates, where stock is purchased from and even what can be sold on the premises.'
Check the licence
Careful attention must be paid to the licence the pub has, as pubs are subject to strict licensing regulations.
The premises licence will set out restrictions on trade, such as opening hours and whether the venue can play live music.
If you are buying a pub that is already trading, this licence will already be in place. You should check the restrictions carefully to ensure they fit with your plans for the property. The seller will also need to provide their consent to transfer the licence into your name.
As well as the premises itself being licensed, an individual at the pub will need a personal licence to authorise the sale of alcohol.
Due diligence is key
Getting as much information about a pub and the site surrounding it before buying is crucial. Do not scrimp on due diligence and appoint a solicitor to ensure nothing is missed.
Stephen Owens, managing director of pubs and restaurants at property agents Christie \& Co, said: 'Due diligence is critical. Buyers should seek professional advice on property, legal and financial matters, and fully understand any licensing, planning or lease obligations attached to the business.
A solicitor will probe title issues, planning restrictions, rights affecting the property and any historic disputes or notices.
Buyers will also need to know what exactly will be included in the sale, from cellar equipment and furniture to stock and supplier arrangements. In some cases, employees may be transferred across to the new owner as well.
Kevin Marsh, head of licensed leisure at Savills, added: 'Before buying, it's worth understanding how the pub generates its income, whether that's from food, drink, accommodation or events, and identifying opportunities to grow the business further.'
It is also worth getting a property survey, as structural issues with a pub building can be expensive to fix.
Adam Morris, founder of LandSale, said: 'Prospective buyers should carefully assess the condition of the building, as older pubs can come with significant maintenance requirements or hidden costs, from structural repairs and outdated utilities to the removal of redundant commercial equipment.'
Mortgage considerations
If you can't buy the pub outright, you can apply for a commercial mortgage. This requires a bigger deposit than a home, as lenders will typically want a 25 to 40 per cent upfront.
According to Nicholas Mendes, mortgage technical manager at broker John Charcol, lenders will scrutinise a buyer's business track record as well as their finances.
Mendes said: 'If you have never run a hospitality business, the pool of willing lenders shrinks dramatically, and those left will price for the risk.'
There can also be a gap between the price the seller wants for the pub, and the amount a mortgage lender thinks the business is worth.
He added: 'Valuation is where many first-time buyers get caught out. A pub is valued on its trading performance, not just the bricks and mortar.
'If the business has been declining, the valuation can come in well below the asking price, leaving the buyer with a choice: find a bigger deposit to bridge the gap, or walk away. Buyers should ask for at least three years of accounts before making an offer.'
Track record: Mortgage lenders will want to see that a pub buyer has hospitality experience
Consider multiple income streams
Before buying a pub, think carefully about what sort of premises appeal to customers and whether the business will stay resilient financially.
Owens of Christie \& Co, said he was seeing strong demand for pubs that offer multiple income streams.
He said: 'Pubs with letting rooms continue to attract significant attention because accommodation revenue can complement food and drink sales and improve overall profitability.
'Buyers are also looking for businesses that can adapt to changing consumer habits and a genuine local experience.'
Marsh, of Savills, said: 'The key is to look for a pub with strong fundamentals - a good location, a loyal customer base and a business model that suits your experience and ambitions.'
Can a pub be converted into a house?
With so many pubs on the market, and many being historic buildings, budding renovators might fancy taking one on to convert into a unique home.
However, pubs are considered an important local amenity by council planners, so it is tricky to get permission to change the building's use. It also might not make you very popular with the locals.
Some pubs also enjoy additional protections.
Halpin, of So Legal, said: 'If a pub has been registered as an asset of community value, community groups can be given the opportunity to bid for the property before a sale can proceed.
'Some pubs are also protected by local planning measures, which remove the automatic right to convert buildings into homes or other uses without full planning consent.'
What is becoming more common is for a pub to remain trading in part of the building, while the rest of it is converted into a home or another use.
Owens said: 'Mixed-use arrangements are often possible and can work particularly well where there is surplus accommodation or under-utilised space.
'However, these projects require careful consideration of planning, licensing and operational factors, so specialist advice is needed.'
Where can you buy a cheap pub?
Approximately 426 pubs are listed for sale across Britain currently, according to LandSale.
On average, the pubs listed have an asking price of £375,000.
The highest average asking prices for pubs listed can be found in London, where the average asking price tag is £695,000.
In the south west of England, the average asking price for a pub is currently £490,000 and in the south east it is £549,975.
Buyers looking for a bargain pub should head to Yorkshire and the Humber and the north east of England, where average asking prices for pubs are around £225,000.
Scotland is another option for buyers looking to purchase a pub inexpensively, with average asking prices at £260,000. Wales is the next cheapest option for a pub purchase, with listings hovering around the £295,000 mark.
The south west of England is home to the largest concentration of pubs currently for sale, with 82 listed, accounting for nearly 20 per cent of sites listed.
Pubs in the south west of England up for sale have the highest combined asking value of any region, at £40.2million, LandSale said.
Wales has the second highest number of pubs currently for sale in Britain, with 69 listed for a combined sum of £20.4million.
With 50 pubs listed or sale, Yorkshire and the Humber has the third highest number of pub listing out of anywhere in Britain.
Adam Morris, founder of Landsale, said pubs remain 'one of Britain's most iconic social spaces.'
He added: 'Whilst many people see pub ownership as something out of reach, the market offers a surprising breadth of opportunities across the country.
'From traditional village inns and countryside pubs to larger hospitality businesses, buyers have a wide range of options depending on their ambitions and budget.'
How many pubs have closed across Britain?
Recent data from the BBPA said around two pubs closed each day during the first quarter of this year.
The BBPA said 161 pubs closed in the first three months of 2026 across England, Scotland and Wales, equating to the loss of approximately 2,400 jobs.
Scotland suffered the heaviest losses, with 41 closures between January and March this year. Wales is the only region to report an increase in the number of pubs.
Around 336 British pubs reported closures in 2025, the BBPA added.
In May, Emma McClarkin, chief executive of the BBPA, said: 'The scale of these closures is avoidable because pubs are doing a brisk trade, but their profits are wiped out by a disproportionate tax burden and huge costs.'
Earlier this year Labour announced that pubs and music venues in England would be given a 15 per cent discount on their business rates bills from April and would not see hikes for two years.
Andy Burnham, who will enter No.10 next week, has pledged to cut business rates for pubs, clubs and music venues, instead introducing a new tax on big warehouses and other large commercial sites, after warnings that punishing levies risk destroying British nightlife.
Pubs up for sale now
Sarn pub, auction guide price of £185,000
Big change: The owner of this pub in Sarn, Wales, is looking to retire
Auction: The pub in Wales is going up for auction via Dafydd Hardy Commercial on 27 July
History: The pub in Wales is believed to date back to 1875
Legacy: The current owner has been making a success of the pub for 20 years
Great Gransden pub, £350,000
The Crown and Cushion freehold premises in the sought after village of Great Gransden, Cambridgeshire, is on sale via Abode for £350,000.
The pub shut for good at around the time of the pandemic.
Listed as an asset of community value with a strong level of local support, the pub presents an opportunity for a landlord to make the Crown and Cushion a central hub of the local community again.
For sale: This pub in Great Gransden is on sale via Abode with a £350,000 guide price
Closed: The pub shut for good at around the time of the pandemic
Options: The Crown and Cushion is waiting to be revived
Space: The pub is Grade II-listed and there is strong community interest in it
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