Cash in on the new landscape with Asset Finance
Over the course of the last year, the hospitality sector had to adapt quickly and respond creatively to lockdown restrictions. The UK's pubs and bars which survived the pandemic did so because they tailored their assets so that their business complied with strict government policy: outdoor carparks became AstroTurfed seating areas, tabletops became hand sanitiser stations, and all face-to-face ordering went digital.
Now that Britain's pubs and bars have welcomed back their customers, operators profiting the most from the so-called 'Pub Renaissance' are continuously tailoring their assets to meet consumer demand. During the 2021 Euros, for instance, it was the pubs with more television screens, space, and seating, that saw the most lucrative influx of cash.
Yet the cost of providing customers with quality food, drink, entertainment, and all other supporting assets, can seem astronomical on top of rent and utility bills. Those lacking funding then find themselves stuck in a cycle of financial limitation: unable to invest in the quality assets that they need to improve their cashflow, and grow their business. Asset Finance can help to bring costs back down to earth; so that you can expand your business without eating into your budget.
With over twenty years of experience in Asset Finance, GSM Finance can provide the funding for a huge variety of pub and bar assets. With flexible payment options, Asset Finance provides immediate access to high-quality assets – whether cutlery, wallpaper, furniture, or drink-ordering software - which can then be used to generate profit far greater than the monthly loan repayments.
GSM & Yummy Pubs
Recently, GSM has helped to finance the expansion of The Somers Town Coffee House, a pub in Kings Cross owned by the boutique pub company, Yummy Pubs. Now a multi-layered building, The Somers Town Coffee House is a perfect example of the profitable expansions that GSM's Asset Finance packages can help to fund.
The Somers Town Coffee House's basement space has recently been refurbished into a cocktail club; Cosy. Furnished and fitted with chic leather booths, sueded bar stools, stylish bars and hazy amber lighting, Cosy's cultivated ambience is reminiscent of a New Orleans speakeasy - though just a few steps below the traditional British pub.
GSM have also helped to fund the refurbishment of the top floor of the pub into a private apartment. The Apartment, which sleeps eight, is fully furnished, fitted with four individually designed double rooms, two shower rooms, meeting rooms, and a lounge. The Apartment caters to all - perfect for family, couple and group 'staycations', as well as for those in London on business, thanks to the four fully serviced meeting and dining rooms, each with AV equipment, on the first floor. Unsurprisingly, the Apartment has been a huge commercial success for Yummy Pubs, with a huge influx of bookings and 5* ratings across the board since its opening.