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Smoking ban could hit value of licensed venues
Fleurets, the chartered surveyors specialising in hotels, restaurants and pubs, has claimed a recent poll it conducted shows that nearly a fifth of those in the licensed trade would consider shutting up shop if a smoking ban was introduced, because of fears of falling profits.
Fleurets said that 19 per cent of those questioned said the threat of a smoking ban made them want to sell up, while 69 per cent said they believed a ban would have a negative effect on profits.
Andy Frisby, of the surveyors’ London office, said that this did not necessarily mean a smoking ban would lead to a rush of pub closures, however.
“The poll is a useful barometer, indicating current market sentiment, but it doesn’t tell the whole story,” he said.
“I see some publicans moving on to pastures new, but our trade is built on entrepreneurial skills, so we’ll see people change and adapt their businesses to fit any new trading conditions.
“I also believe we could see new entrants in the market with a fresh, positive and progressive approach to a non smoking environment.”
The poll also posed questions to people looking to enter the trade and found that 57 per cent believed a smoking ban would have a negative effect on profit potential in the licensed business and that as a result, 61 per cent felt the threat of a ban would influence the price they were willing to pay for a licensed venue.