Untying a 200 Year Old Knot

So, they finally changed the law that had been in existence since the 17^th century. No longer do tenanted pubs have to buy their beers at extortionate prices, they now have all the freedom and possibilities that the open market has to offer.

What does this actually mean for more than 10,000 British pubs?

Was the world such a bad place being protected by big breweries and pub co's, having below market rent at a slight dent to the overall profit from wet sales?

Will the 'New World' be a much brighter and better place?

Some sceptics believe that this change will cause big breweries and pub co's to take a step back so to speak and release some of the responsibilities they used to hold. Meaning the tenants will almost be left to fend for themselves. They foresee an increase in the closure of pubs, as without the backing and financial support, smaller, possibly underachieving pubs will run into debt and be forced into closure or change hands.

From what I have read from various sources, pubs are closing all over the place but this false information that we are constantly being bombarded with and to a certain extent, made to believe, is totally untrue. Pubs are closing, but like the mythological beast, the 'Hydra', when one shuts another two or three spring up. I'm not disregarding the fact that pubs are indeed closing and at an alarming rate, but there are more pubs opening up all the time. With the current 'Craft Beer' craze that is sweeping the nation, the newer pubs are targeting a mixed demographic of all ages and cultural backgrounds with the same things in common, the want for a great pub with a relaxed atmosphere and an infinitesimal selection of fantastic booze!

With the new changes in the laws, 'Tied' pubs have all the buying rights of freehouses. Theoretically increasing competitive pricing and enlarging what may have once been a very limited selection to choose from. All that is required for a successful pub is enough capital, a good, solid business model and an ideal location and ability to suit the local demographic and also attract people from afar. It is probably easier said than done, but still, the point is that it is as easy as ever to open and run a pub. The only major stumbling blocks are money, patience and everything else that comes with running a pub.

What does the future hold for publicans?

Will pub co's and big breweries react, possibly buying back and converting tenanted pubs into managed houses. That is exactly what Young's or what they are now referred to as 'Ram Pub Co' have been doing for a while. I'm sure the other major players like Greene King, Marstons and Shepherds Neame are or will do the same thing.