A Bold Plan to Purchase a Beloved Pub

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Audrey White
22nd February 2016

With decades of commercial experience under his belt, Aidan Jewitt has set his sites on a new venture.

With the help of the rebuildingsociety.com community, Jewitt aims to raise £100,000 to purchase beloved destination pub The Gray Ox the loan and make improvements to the property.

Improving Upon A Good Thing

The Gray Ox has attracted diners and tourists for 150 years, and Jewitt sees no need to disrupt the pub’s fine tradition.

“I don’t want to change it, but I do want to make it better,” he said. “I’ll improve service, reduce costs, and maximize the potential of the space.”

Jewitt has numerous ideas to improve profits while maintaining the pub’s appeal — including improving staffing efficiency, advertising meeting space to local organization, and offering afternoon tea in between the pub’s regular lunch and dinner services. He’ll also be running the business on site, which will create a cost savings and improve the business compared to the current management strategy.

“I don’t think this is a risky business. It’s a destination business with consistent traffic. I want to improve upon it.”

An Experienced Manager With A Fresh Perspective

Jewitt has decades of experience in commerce and management, including as a banker and in the media industry. Though he hasn’t operated a restaurant himself, his wife has. In short, he understands the fundamentals of running a business and running a restaurant. In fact, it was his many years as a bank manager that led to his familiarity with The Gray Ox.

“Of course, bank managers like to take their clients out to lunch. I’ve been going there for 15 years. You can talk about business in a nice atmosphere with like-minded people.”

So when the potential to buy the business came to light two years ago, Jewitt was intrigued. Now that the financial picture of the business is clearer, Jewitt is making his dream a reality. He’s investing £70,000 of his own capital into the purchase and transition, and security includes a director’s guarantee and a second charge on the property.

His experience in banking, in fact, is what led him to rebuildingsociety. At banks, “if anything steps outside a policy or a guideline, the computer says no. They don’t take into account individual circumstances or people.” So he appreciates the personal feel of peer-to-peer and hopes to make a good impression on the lending community.

You can learn more about this opportunity in the loan profile and discussion for Stocksford Limited Hospitality, the name under which the business will trade..

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