The Advisor Magazine: Issue #24 –

As the economic outlook treads lightly, corporate companies are making moves and Boston is getting “squeezed”.
  • Drizly and Gopuff join forces;
  • Challenges and opportunities for Boston restaurant owners;
  • Pocket licenses in Boston;
  • Bottle bills coming;
  • Valentine’s Day trends;
  • Tax credits for small businesses;
  • and more!
Lots of questions coming up for owners – remember, we’re always here to help.
Click Here To Read The Advisor – Issue #24.

The Advisor Magazine: Issue #23 –

We start the new year with newfound hope and possibility but what does that look like for successful business owners and stakeholders?
  • Trends for success for liquor stores, restaurants and grocers in 2023;
  • The year of innovation;
  • Is 9 alcohol licenses enough;
  • Tax relief for small businesses;
  • and more!
Welcome to 2023 in the liquor license industry, let us know how we can help make it a success for you and yours.
Click Here To Read The Advisor – Issue #23.

Year In Review & Alcohol Predictions For 2023

We had a question and answer session with Dan Newcomb of Liquor License Advisor about the year that’s past and what’s to come for the liquor license industry in 2023.

What was the most common question you got from liquor store owners in 2022? What about restaurant owners?

Over the course of 2022, the most common question that has been a theme amongst liquor store owners is how to maximize the sale price of their store, having sales trending downward since the pandemic. Potential buyers have been requesting 2022 sales because they feel like they reflect earnings before COVID. Since the pandemic, owners have been trying to rejuvenate their business model to stay competitive, and now, with the challenging economy, owners are once again feeling the sense of unsettlement that they had hoped was over. Our team has the knowledge and understanding of the industry, especially during these times, to ensure our clients receive the maximum return on their investment. From start to finish, we help our clients with financial positioning, identifying key team members (attorneys, accountants, etc.), marketing, finding the right buyer, and closing out the sale.

To read the full article – check out The Advisor Magazine – Issue 22.

 

The Advisor Magazine: Issue #22 –

In the blink of an eye, we are coming up to the end of 2022 – it’s been one to remember that’s for sure!
In Issue #22 of The Advisor we discuss:
  • The result of “No” for question 3 and what it means for owners;
  • What consumers will be gifting this holiday season;
  • Tax Credit Programs for restaurants, liquor stores and small businesses;
  • Predictions for the liquor industry in 2023
  • and more!
In this issue, we recap the year that was and what to expect in 2023.
Click Here To Read The Advisor – Issue #22.

What Are Consumers Gifting For Alcohol In 2022?

The holiday season is upon us, and it is time to think about what beverages to stock up on and showcase at your store to make gift-giving seamless for your customers. Whether the gift is for a party host, co-worker, friend, or family, we’ve been paying attention to the most popular trends, and here’s what you need to know in order to stay competitive this season.

BevAlcInsights by Drizly forecasted this season’s top alcohol gifts based on 2022 sales and gifting trends in their recent article, “2022 Holiday Gift Guide for Retailers”. The report encourages retailers to stock up on luxury beverages such as champagne, premium red wine, and high-end spirits.

Based on Drizly’s 16% increase in the average unit price of gift orders from 2021 to 2022, Drizly’s head of consumer insights, Liz Paquette, anticipates that consumers will spend even more this year. Forbes reported on the increase of luxury beverage sales in their recent article, “Drinkers Continue To Spend As Sales Of Luxury Booze Grows 23%. But Is It The Category Recession Proof?”. The answer, for the foreseeable future, is yes, as luxury spirits continue to thrive, the most noteworthy being tequila and American whiskey.

This data comes as no surprise since the holiday spirit boosts consumers’ tendency to splurge when purchasing special gifts, but it is also important to recognize diverse budgets in order to maximize consumer sales.

To read the full article – check out The Advisor Magazine – Issue 22.

 

Small Retailers and Package Stores Need Your Support On Question #3

In our latest Advisor Magazine, we included a campaign ad produced by the 21st Century Alcohol Retail Reform Committee outlining why you should vote yes on question #3. The video explains that locally owned package stores, independent markets and convenience stores initiated the ballot question. Not only will voting yes help save Massachusetts small retailers and package stores, but it will support consumer convenience, public safety, and tourism. 

Visit https://www.yeson3mass.com/ for more information on how you can support this campaign!

To read the full article – check out The Advisor Magazine – Issue 21.

 

The Advisor Magazine: Issue #21 –

As the November 8th election approaches this week, the division on the issue of retail distribution grows.
Tell everyone you know to support local and independent operators by voting YES on Question 3.
In Issue #21 of The Advisor we discuss:
In this issue, we push the hot buttons of today’s liquor industry.
Click Here To Read The Advisor – Issue #21.

Why Vote YES on Question 3

According to the 21st Century Alcohol Retail Reform Committee, voting YES on Question #3 will allow for the safe and convenient expansion of alcohol sales. Question #3 will:

1. Promote Consumer Convenience 

Progressively increase the number of allowed beer and wine licenses from 9 to 18, minus any full liquor licenses owned. The number of full liquor licenses will be set at 7.

2. Promote Public Safety

Prohibit self-checkout of alcohol and change the fine for selling to a minor applicable to gross sales rather than just for alcohol.

3. Promote Tourism

Allowing valid out-of-state IDs to be relied upon by a retailer will increase access to alcohol in a reasonable and responsible way.

There are many ways you can help promote the Vote YES campaign, including making a donation to the “21st Century Alcohol Retail Reform Committee”; adding the “Vote Yes on 3” logo to the end of your email signature, your store newsletters, and/or website (by copying & pasting the logo); placing “Vote Yes on 3” signs in your store’s window, etc.

To learn more about what you can do to support this campaign, please visit:

https://www.masspack.org/Ballot-Initiative

To read the full article – check out The Advisor Magazine – Issue 20.

 

 

Time To Spread The Work – Ballot Question Update

Saving The 3 Tier Alcohol System

A highly anticipated debate in Massachusetts is preparing to finalize a decision on November 8, 2022, after votes are made on ballot question #3.

Ballot question #3 concerns off-premise alcoholic beverage retailers and the number of licenses that an entity is allowed to hold. Voting YES will allow entities to ultimately hold eighteen beer and wine licenses, an increase from the nine currently allowed. (This increase will be gradual.) Voting YES will also decrease the number of full liquor licenses from nine to seven. Ultimately, a YES vote will help restore balance in the off-premise retail industry.

 

Voting YES on ballot question #3 will not only support consumer demand and promote equal opportunity for all retailers, but it will also help save local businesses by preventing big corporations from dominating the market. Voting YES will further assist local businesses and better public safety by prohibiting self-checkout of alcoholic beverages and establishing a fine for selling to a minor applicable to the total amount of purchases, rather than just for the alcohol purchased.

Voting YES will aid in expanding tourism and increasing the customer base in Massachusetts to allow retailers to accept out-of-state IDs, as we are currently the only state that does not force retailers to reasonably rely on valid out-of-state IDs.

Liquor License Advisor encourages you to vote YES to not only support local business but also to increase the demand for your license, as well as increase the return on your investment over time. We support our clients and business models that we’ve helped establish over the years, and it’s important to us that you are successful. Reach out to us any time with questions. We’re here for you.

To read the full article – check out The Advisor Magazine – Issue 19.

 

 

Confidentiality is really important from a seller’s perspective but marketing and talking to people about a business to sell it is crucial.

It is understandable that you want it to be kept really quiet but you want everybody to know about it. The fact is that we only want the people that should know about it to know about it.

As soon as you start talking to people, confidentiality becomes a big concern. The best thing that you can do is work with your team and start to desensitize them for when they hear that the business is for sale.

Prepare the staff and explain to them that everything is for sale for a price and selling the place is an option any day if somebody showed up with the right number.

Talk to the staff about recent sales in the industry so it doesn’t come as a shock.

Priming them and hearing about it for the last month or two will desensitize them. These are just some ways to minimize the amount of trouble that comes with someone breaking confidentiality.

When you or your liquor license broker start to talk about selling your store to potential buyers, confidentiality is a valid concern.  When you file an application before the town to transfer the license it becomes public knowledge. There’s no way to avoid it!

Before the information goes public, you want to make sure you have conversations with the important people and make sure that you have had a discussion with key employees.

Most importantly, you want to have a discussion with your landlord to make sure they know what your plans are. The landlord is going be an essential part of this from the very beginning. If you are going to transfer the business to somebody else and they want to stay in that location, the landlord needs to be involved early on rather than later.

Only you know that answer as the owner. You’ve been dealing with this landlord for years, know his personality best, and know how they will react.

If you’ve been a good tenant all along and have been straightforward this shouldn’t be a problem. Once that application gets filed, everybody’s going to know about it so prepare yourself and seek advice when needed.

If you would like confidential advice we are here to guide you. We will give you some tools, tips and tricks on how to do that.

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