Liq Lic

[bcowu9]

I am new to the board, I have some investors that is interested in investing just trying to finish up my business plan. I have worked in the bar industy for a few years, have not been in it for a few years. Have a contractor and CPA as business partners. We are looking at a live entertainment bar.

Others might say that you have never owned a bar, true but you need to start some where. I am a medical sales rep to just give you a bit of a background of me, I am not looking to get rich in the next 10 years just want to grow my business. I am not married with no kids so I am going to devote all my time and effort to this project.

I have some questions regarding Liq Lic. Their is a waiting list, and the only way that they said I can get one is buy the assets from a bar going out of business. With my thoughts, that might be better with purchasing capital equipment along with a Liq Lic.

I just want to get some feedback from some of you guys that have been in the biz for many years. Any other options?? All the help will be great!

Bill

[owneroper]

I think it depends on where you are, but after reading the boards most states have a limited number issued and you can only buy one from an individual, buy an existing bar with license, or buy the license outright. The price is set by demand. talked to a broker, in cincy they are going for 30000-50000, he said 5 years ago they were going for 10000/15000. Reading the boards they go for over 200000 in some states. Check the newspaper sometimes they are listed for sale or watch bars for sale

[excellentbars]

bcowu9
Opening a new Bar and Nightclub is a large task....Do lots of research.

this is called a Token system and is common is many states, In AZ I owned two bars and with one the License came with the sale of the venue when we bought it. With the second Venue we had to buy the license..

If you are trying to save money you can often work out terms to make payments on the license like a piece of land or a car...Contacting a broker is a great way to go but remember they will want at least 6% commision or more on the sale of the license..

I would recommend finding a venue going out of business like they recomended to you and try to negotiate a purchase...

This is good and bad for you and for me as it is an actual asset and can be sold at a later date years down the road...

Cheers