Shall I take over this pub??

An old friend of mine is retiring and looking for someone to take over the lease of his small pub, it would cost about 33k to do so....I'm looking in to it.

He's had it for many years and its been busy, but the owner is getting on a bit now and was also seriously burned in a fire a couple of years ago and he's stopped making any effort.

Its right in the middle of my small town and right next to Tescos and is a 5 min walk from my house. It used to be my parents local and its the pub I met my wife in.

Me along with my wife and family are quite interested in the possible potential of this, but also very wary of any pitfalls.

Your thoughts appreciated.

Have you worked in a pub before, or would this be the first time?

The number of laws & regulations must be scary....

Not a pub but I worked in a hotel for two years in my 20s did everything there .

But your right...before any decisions are made there's a lot of homework to do.