Lease a local pub and relaunch it food-first

Locals, families, couples and groups going out for a meal and a drink, plus occasional functions and events.

Food and drink sales over the bar and at tables, with extra from function bookings, set-menu nights and trivia or live music events.

• Hospitality management or pub experience
• Menu planning and kitchen costing
• Hiring and rostering staff
• Managing stock and cash flow

• Check your state or territory's liquor licence rules, as transfers and new licences can take months
• Staff serving alcohol usually need a Responsible Service of Alcohol certificate, check your state's requirements
• Food business registration with the local council and a trained food safety supervisor
• Public liability and workers compensation insurance, and check lease terms carefully before signing
• Music licensing fees and any gaming (pokies) rules if the venue has machines
• Long hours, late nights and thin margins if costs and wages are not tightly managed

Startup costs are typically estimated at around $150,000 to $600,000, depending on the lease terms, kitchen and venue upgrades, stock and working capital. Treat this as a rough estimate and get legal and financial advice before signing a lease.

Check your state or territory's liquor licence rules, as transfers and new licences can take months. Staff serving alcohol usually need a Responsible Service of Alcohol certificate. Also check food business registration, a food safety supervisor, music licensing and any gaming rules if the venue has machines.

Monthly revenue is typically estimated at around $60,000 to $300,000, depending on location, trading hours, menu and pricing. The estimate assumes from about 50 hours a week, and margins can be thin if costs and wages are not managed.