THE AGENTS - Sidney Phillips
John Williams - managing director of Sidney Phillips:
We've actually seen a substantial increase in the freehold licensed property market over the last four or five years.
We're seeing more new faces coming into the industry all the time, many with little or no experience.
It's good to encourage fresh faces because they bring in a new revenue stream, new ideas and bright concepts. These, in turn, encourage lapsed customers to take a renewed interest.
The influx of fresh faces has a lot to do with the relatively low cost of buying a licensed property these days. You get a lot of bricks for your money with a freehold pub or hotel - buying a house the same size would cost up to 30% more. A pub or hotel offers the purchaser a comfortable home as well as a source of income.
Several recent clients have given up prominent and well-paid positions to take on their new roles as "landlords of the local". With the kids grown up, the old family home can be sold off and the money invested in a well-established business that comes complete with new home and huge car park!
In Herefordshire, where our head office is located, it's been sad to see many village pubs closing down, so I'm delighted to report that many rural villages are seeing their social centres gradually returning under new ownership.
Technology and the Internet have played a big part in the industry's growth nationwide. Although we still mail out property details in response to enquiries, our clients are able to view, download and print details from our website. The number of visitors to our website has doubled consistently, year on year, for the last three years.
Although the Internet has speeded up the way everyone does business, the licensed trade will always remain a people industry, fuelled by personal contact with real people. In
our five branches in England and Wales, clients can talk to someone who knows the industry, what's happening in the local marketplace and the local trading conditions.
Technology is a great boon - but people like to do business with other people and businesses that they like.
