I've always found it fascinating how great a factor in costs rent actually is, but it's always hidden.
If you buy a pint in a Wetherspoons in bandit country in the East End it's maybe £2.00/pint - the same pint might be £2.60 in a West End Wetherspoons.
That's why Sam Smiths pubs are such brilliant value - they haven't 'sweated' their property assets. eg the Chandos Arms on Trafalgar Square wipes the floor with every other pub on price - dunno about the beer, I drink the lager! :-) "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Rule of Thumb: a business needs to bring-in a minimum of 2.5 times fixed costs to break even.
