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Yeah, I was going to bring that up also but didn't know the entire story.Just ask Lingy, the guy who bought that pub for a dollar. I think it was a $4.5m loss he made in the end and had to sell family home.
Yeah Riccuto did well but outside that I don't think there's too many successes.Yeah, I was going to bring that up also but didn't know the entire story.
Current/Ex-AFL players going into pubs is a recipe for disaster. An exception would be Elliott Yeo, his father Craig(R.I.P) was a long-time publican who ran his venue.
I remember an ex-player bought a busy venue in Launceston back in the late 90s(can't remember the player). Really nice guy but had NFI how to run a venue and had to sell less than a year later.
Margins are pretty thin in the hospitality industry and there's heaps of competition, so you need to have a great deal of experience to be successful.
Just buy property instead, if you have the money.
Yep, I worked in the industry for 20 years(last 10 as a manager) before switching to IT during Covid.Yeah Riccuto did well but outside that I don't think there's too many successes.
People I don't think realise how competitive hospitality can be
Only worked in a pub during uni. It was a pretty successful one but even then I remember being told some of the margins on some of the higher turnover and I was just shocked. Like "why are we selling this?!"Yep, I worked in the industry for 20 years(last 10 as a manager) before switching to IT during Covid.
No way would i ever consider starting a hospitality business, unless I was rich and it was a pet project.
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Wrong pub and no pokiesJust ask Lingy, the guy who bought that pub for a dollar. I think it was a $4.5m loss he made in the end and had to sell family home.

Sloane and roo are all in the pub game and doing well and from memory tredrea is as well and doing wellYeah, I was going to bring that up also but didn't know the entire story.
Current/Ex-AFL players going into pubs is a recipe for disaster. An exception would be Elliott Yeo, his father Craig(R.I.P) was a long-time publican who ran his venue.
I remember an ex-player bought a busy venue in Launceston back in the late 90s(can't remember the player). Really nice guy but had NFI how to run a venue and had to sell less than a year later.
Margins are pretty thin in the hospitality industry and there's heaps of competition, so you need to have a great deal of experience to be successful.
Just buy property instead, if you have the money.
Only worked in a pub during uni. It was a pretty successful one but even then I remember being told some of the margins on some of the higher turnover and I was just shocked. Like "why are we selling this?!"
It's good if they're doing well but I'd imagine they probably hired good managers and simply had the capital and provided inputSloane and roo are all in the pub game and doing well and from memory tredrea is as well and doing well
If it was the right pub I'm sure they wouldn't have sold it to himWrong pub and no pokies![]()
Pretty sure sloane and roo are in with peter hurley who is a pub magnate here in SAIt's good if they're doing well but I'd imagine they probably hired good managers and simply had the capital and provided input
If its Harley Reid, they will give him 10 'right pubs' to get him thereIf it was the right pub I'm sure they wouldn't have sold it to him
That makes sense. It's when they try to do it alone that it falls apart.Pretty sure sloane and roo are in with peter hurley who is a pub magnate here in SA
Cringe. Nothing else happen in WA?Each day The West has a ridiculous back page article about him - it's not funny and would drive anybody to leave the state. View attachment 2030941View attachment 2030942View attachment 2030943View attachment 2030944
Freo actually got a back page today lolCringe. Nothing else happen in WA?
If its Harley Reid, they will give him 10 'right pubs' to get him there
This is going to be the best of threads.
Hi career as it stands, is better than most.
You need them to have poker machines.Yeah Riccuto did well but outside that I don't think there's too many successes.
People I don't think realise how competitive hospitality can be
It was said tongue in cheek. You must be about as tall as Nick Watson, that went straight over your head!Delusional thinking like this is why the media get away with making up crap like the 10 year, $18m rubbish.
It was said tongue in cheek. You must be about as tall as Nick Watson, that went straight over your head!