What to Expect After Selling Your Liquor Store

Once your store has officially changed hands, there are a few final steps that can help make the transition as smooth and complete as possible. Some of these may be required, depending on your location or agreements, but many are simply recommended based on experience to help ensure everything is wrapped up cleanly and both sides move forward with clarity and confidence.

This checklist, featured in The Advisor – Issue #48, outlines post-sale steps that can help sellers close out remaining responsibilities and hand off the business with peace of mind.

1. Transfer or Terminate Contracts, Utilities, & Services

Sharing copies of contracts — like your POS system, security, or payment processing agreements — gives the buyer a clear view of what’s currently in place. It’s also a good time to reach out to your utility providers (electric, gas, water, internet, phone) to cancel or transfer accounts and to wrap up any services like snow removal or cleaning services, so everything is squared away on your end.

2. Share Vendor & Supplier Information

Most stores work with a range of regular suppliers — like beer, wine, spirits, grocery, and ice. Providing the buyer with a vendor list makes it easier for them to get up and running. You may also need to notify vendors of the ownership change and close out any accounts or end contracts that won’t be continuing after the sale.

3. Leased Equipment

If you have any leased equipment (like ATMs, draft systems, or coolers), make sure to check the terms of each agreement and coordinate with the provider or buyer on next steps. This helps ensure the lease is properly transferred, returned, or closed out — so you’re not responsible for it after the sale.

4. Staffing & Payroll

Coordinate with your payroll provider to close out payroll and issue final checks to any employees under your business. You’ll also need to cancel your workers’ compensation insurance and, if you’re formally closing your employer account, notify the appropriate state agencies.

5. Close Financials

Close business bank accounts, cancel credit card processing, and terminate insurance policies (general liability, liquor liability, etc.). If your store had a lottery license, notify the appropriate authority to cancel or transfer it.

We know how much time and energy goes into selling a business — and we’re here as a resource to help you finish strong, stay organized, and step away knowing everything has been handled properly.

Click here to read April’s newsletter: The Advisor – Issue #48

The Investment That Helps You Sell Smarter: Breaking Down Our Fee

In this industry, every move matters. When it comes time to sell your liquor store or liquor license, choosing the right partner can make all the difference. Working with Liquor Store Advisor and Liquor License Advisor means gaining access to a trusted team with decades of experience, a powerful network of qualified buyers, and a deep understanding of what drives successful transactions.

Our fee reflects the hands-on expertise, strategic marketing, and full-service support we provide from start to finish. In many cases, our involvement not only leads to stronger offers — it also saves time, avoids costly missteps, and maximizes your final outcome.

Specialized Experience

Backed by thousands of successful transactions across multiple states, our team brings decades of experience guiding sellers at every level — from independent operators to national retail groups. We understand the valuation, licensing, legal, and operational complexities that make liquor transactions distinct. That insight allows us to help you price strategically, prepare with clarity, and close with confidence.

Operational Execution

Selling a liquor store or license isn’t just about finding a buyer — it’s about managing dozens of behind-the-scenes steps most sellers don’t have time to think about. From licensing paperwork and board hearings to city filings and timeline logistics, we handle the details that keep deals moving. We keep the timeline moving so you can focus on the finish line.

Marketing and Buyer Access

We don’t wait for buyers to find you — we bring your listing directly to serious, qualified prospects. Our outreach includes curated email campaigns, targeted digital marketing, and direct calls to pre-vetted buyers. Many transactions are matched before the listing even goes public through our Preferred Buyer List, which includes individuals, corporations, and investment groups actively looking for their next opportunity.

Communication and Transparency

We believe communication is everything. You’ll always know what’s happening, what’s expected next, and where things stand. From day one to closing day, we keep you informed — no guessing, no chasing. Our process is built on clarity, responsiveness, and a commitment to keeping things straightforward and stress-free.

Click here to read April’s newsletter: The Advisor – Issue #48

Customer Service and Consumer Habits For Retailers

Premiumization Levels Off In The Face of Inflation

A recent BevAlc Insights (by Drizly) report comments on the “premiumization trend” that surfaced during the pandemic, referring to when “consumers were trading up to higher-priced products across the beverage alcohol spectrum”, a trend that lasted well into the past year. As nights at home became standard during the pandemic, many upgraded their typical selections at the liquor store or online ordering platform to treat themselves.

To read the full article – check out The Advisor Magazine – Issue 29.

 

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.

 

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.

 

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.

The Advisor Magazine: Issue #18 –

No signs of stopping for the battle growing on both sides on controversial liquor license issues across the state.
In Issue #18 of The Advisor we discuss:
In this issue, we take a look at both on and off-premise issues getting ready to boil over.
Click Here To Read The Advisor – Issue #18.

 

The Advisor Magazine: Issue #17 –

As we settle in for Independence Day there’s much to celebrate even with looming changes to both on and off-premise liquor licenses.
In Issue #17 of The Advisor we discuss more on-premise liquor licenses coming to the City of Boston, retail Tier Reform, Summer drinking trends and more!
In this issue, we take a look at what’s to come going into Q3 of 2022.
Click Here To Read The Advisor – Issue #17.

 

20 Years In The Boston & Massachusetts Liquor License Business

What’s Next?

Twenty years is a long time to reflect back on and recall some incredible stories!

Some of the main characters who influenced my career path include Howard Deering Johnson, Donnie Wahlberg, Charlie Perkins, and of course, Dick Newcomb, my Father and original creator/owner of the Mug ‘n Muffin restaurants.

Our original family restaurant business started in 1965 in Wollaston, Massachusetts, the birthplace of one of America’s best-known restaurant chains, Howard Johnson’s (HoJo’s). My Dad’s new restaurant, named Mug ‘n Muffin, was opened in July 1965, only 1.5 years after I was born, so I was essentially born into the family business. Even as a young kid, I was involved as my Dad grew his business, which had evolved to 26 restaurants by the early 1980’s.

I grew up flipping eggs and burgers at my family’s restaurant, and before I was old enough to do that, I watched guys like Bobby Orr and other decorated Boston Bruins stop in for coffee, as one of the main restaurants was conveniently located across from the old Garden. Over the years, I watched my Dad negotiate with vendors and landlords and I now realize that I was getting a front-row seat to a real-life masterclass in influence before I was old enough to drive. I knew I wanted to be a restaurant owner and run my Dad’s business.

After I graduated college in 1986, we re-developed the concept, worked hard, and I was able to grow from two to four restaurants that I managed for the family. A lot of work and stress brought a lifestyle I didn’t want to maintain as my own family grew.

Ironically, my Dad’s restaurant was a regular host to AA groups, and I’ve been sober since March 28, 1988.

 

To see how the next 20 something years go – check out The Advisor Magazine – Issue 16.

 

 

The Advisor Magazine: Issue #16 –

The power struggle continues and things heat up in the retail tier of the liquor license industry. With being approx. 6 months away from the Senate vote on the 21st Century Alcohol Reform bill, many storylines are surfacing.

In Issue #16 of The Advisor we discuss what comes after 20 years in the liquor license industry, which pre-mixed liquor is taking over, the end of revitalization and more.

In this issue, we take a hard look at what’s to come for all stakeholders involved in off premise and on premise alcohol bills.
Click Here To Read The Advisor – Issue #16.

 

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