As The Economy Grows, So Will Your Liquor License Costs.

Florida state has a tangle of regulations and restrictions on how a business owner can acquire a liquor license. For those who don't know, Florida has a limited supply of licenses and has a population-based quota to meet. What this means is that the everyday Joe who aspires to be a bar owner is unable to buy a liquor license right off the bat. They will need to use a brokerage firm like us to help get a license. If they were to try to get a license on their own, well, they'd be entered into a lottery system that only comes around once a year, which can be extremely inconvenient for businesses, to say the least.

The good news is brokerage firms like us make it simple and painless. We're in the industry and are very aware of new laws and regulations, plus we have the network to connect business owners selling their licenses to business owners who want to finally start their own bar and restaurant. Since we are a liquor license broker, we keep prices in check and make sure the owner selling the licenses isn't going overboard on the price. With that being said, as the economy grows in certain counties and cities, so will the liquor license prices.

And the economy is growing. Florida's population is increasing and it has already passed the 20 million population mark, making it the third state to house over 20 million people, behind California and Texas. Although this information is specific to New Jersey, a state that also has a population-based quota, they have sold liquor licenses for over $2 million dollars in the past. In other parts of New Jersey, liquor license can go for around $800,000. The price of a license greatly varies on the county and how in-demand the licenses might be, but it's only a matter of time that you will see spikes in license pricing in Florida as more people move here and spend money here.

These high liquor license prices are not just specific to New Jersey’s economy, we've also seen an increase in prices in California and other places around the state. For example, in San Francisco, you can only acquire a Type 47 liquor license, which is a license that allows you to sell hard liquor, second hand at $250,000, up from around $80,000 just five years ago. In Detroit, Michigan, you could have purchased a license for $20,000 just two years ago. That price has since doubled to $45,000 to $50,000.

These price increases mean quite a few things. It means that the economy is doing better. It means that more people are spending money on entertainment and it means that there's a demand for more alcohol-driven businesses. Florida has seen a boom in the economy, but the prices are still catching up. Do not miss the opportunity to open your bar today before it becomes too expensive to purchase a liquor license. Contact us and we'll be happy to help you get the process started!

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