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T T HH E E ADVISOR T TH H EE N NA AT T II O ON N S S LL EE A AD D II N NG G LL II Q QU UO OR R S T O R E L I C E N S E R E S O U R C E STORE LICENSE RESOURCE M A G A Z I N E FEATURED LISTINGS PAGE 10 November Ballot Update Follow The Money New Sheriff In Town TIME TO SPREAD THE WORD BOOMERS NOT GOING ANYWHERE WINE MADE EVEN MORE CONVENIENT Page 4 Page 6 ISSUE 19 SEPTEMBER 2022 Page 8

CEO s Note As one season gets set to end another is on the horizon and it will be historic for all stakeholders Looking For Featured Liquor Store Listings CLICK HERE Page 4 Time To Spread The Word Vote YES Have you been trying to squeeze out the last few days of summer Historically summer has been busy for restaurants and patios with people flocking to hang on to a changing season In liquor stores people are celebrating almost anything they can find an excuse for to stretch the summer This means sales are up and stakeholders are happy We are heading into another season in which the tide is about to take a turn Buckle up because it s going to be a wild ride Sincerely DAN NEWCOMB Founder CEO Liquor License Advisor THE ADVISOR MAGAZINE 2 Page 6 Boomers Not Going Anywhere Page 7 Understanding Your Commercial Lease Page 8 Wine Made Even More Convenient Page 9 Happy Hour Revival Update Liquor License Advisor has been a trusted resource in the liquor store and license industry since 2002 www LiquorLicenseAdvisor com

Holding Onto Summer Summer heat turns up the intensity of upcoming legislation set for November 2022 by Dan Newcomb SAVING THE 3 TIER SYSTEM Local bottles shop supporters are making a push to get as much awareness to the public as possible while raising pledges to keep the momentum going for alcohol retailers For more info on ways to support the efforts you can visit MassPack org or read more on the story on page 4 Efforts are now at an all time high with focus on keeping external out of state forces at bay Time will tell what that looks like Changes are coming to the liquor industry are you prepared HAPPY HOUR HAPPY AGAIN Patios skipping the dishes and dining out have led to a boost in local restaurant activity for the time being What was once thought to be a moot point has now turned into a potential revival with Happy Hour across the state Key supports just won t let it go and it s becoming an interesting movement to watch Read more about it on Page 9 When you think of Happy Hour you may think of college kids and millennials flocking for pre and or post game drinks however it s interesting to note that Boomer aren t going anywhere Follow this story on Page 6 If you need support or want to know where you stand in today s market give us a call today 781 319 9800

Time To Spread The Word Vote YES To Question 3 On November 8 2022 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 offpremise 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 offpremise retail industry THE ADVISOR MAGAZINE 4 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 ofstate 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 Continued on the next page

TIME TO SPREAD THE WORD Preserving The 3 Tier System For those who have a vested interest and want to go further by financially supporting The 21st Century Alcohol Retail Reform you are encouraged to donate by mailing checks to 21st Century Alcohol Retail Reform C O MassPack 30 Lyman St Suite 2 Westborough MA 01581 Or you can also print and mail in the pledge form directly from the MassPack org website here View The Form Questions about liquor licenses in your local area Give us a call 781 319 9800 THE ADVISOR MAGAZINE 5

Follow The Money Boomers Not Going Anywhere by Michelle Hansford A recent BevAlcInsights report reveals some interesting data when it comes to Baby Boomers drinking patterns and preferences It s not just Millennials Gen X and now even some Gen Z that are driving the market the older generation of Baby Boomers born between 1946 1964 are making enough of an impact on the alcoholic beverage world that retailers are taking note according to Drizly So what are Baby Boomers drinking Let s take a look at the data that they remain considered a key target especially for premium wine sales according to the report White wine proves to be the most popular wine choice amongst this generation perhaps because those who have retired to warmer climates are opting for cooler beverage choices Also popular amongst this age Consumers aged 60 and over in bracket are vodka and liqueurs the U S have some of the highest wine consumption And although boomers are rates according to a survey spending less per product than conducted by the Wine Market other generations according to Council in 2021 some of these Drizly data they are spending consumers even consider themselves daily wine drinkers which means more per order especially on white wine and non alcoholic beer wine and spirits keeping them in the loop of today s increasingly popular non alcoholic options market As these Boomers enter retirement age it is especially important to keep their buying preferences in mind as they may now have more disposable income than the younger generations and are perhaps welcoming a phase in life that offers them more time to enjoy their daily glass of wine or bottle of nonalcoholic beer THE ADVISOR MAGAZINE 6

When it comes to negotiating your commercial real estate lease, understanding what certain termsmean can make all the difference in determining if you’re signing a lease that’s right for you. Herewe will break down the major components of commercial leases that you will most likelyencounter:We're here to help youmake smart decisions.Call Us: 781.319.9800Call For DetailsUnderstanding Your Commercial Real Estate LeaseQUESTIONS ABOUT A LEASE?What Operating Expenses are Associated with NNN?There are typically three different components associated with a triple net lease outside of base rent:1) Property Taxes; 2) Insurance; and 3) CAM.What is Common Area Maintenance (or CAM) Fees?The Common Area Maintenance fees refer to the common areas of the interior of a building, such aslobbies, restrooms, stairways and elevators, as well as the common areas of the exterior of a building,such as landscaping, the plowing and maintenance of parking lots, walkways, etc. In a triple net lease,each tenant pays a proportionate share of the total CAM costs based on the percentage of the buildingleased by that tenant.What is Triple Net (or NNN) Charges?A triple net lease is a common type of commercial real estate lease. Within this type of lease, the tenant pays the base amount of rent to the landlord, as well as also paying their own individualized operating expenses for utilities and other services.What are the Benefits of a Triple Net Lease?There are benefits to the tenants of triple net leases, including that they pay a proportionate amount ofthe expenses, rather than the total building expenses being tallied up and divided evenly amongst alltenants. That means that less use of utilities, for example, will result in less charges incurred to thatparticular tenant. Tenants also have the ability to review past costs associated with the building tounderstand what they are agreeing to when they sign a lease.*We highly recommend consulting an attorney & accountant to fully understand your responsibilities.

A New Sheriff In Town Wine Made Even More Convenient by Michelle Hansford The pandemic hit businesses hard in many ways forcing many to adapt to changing consumer behaviors and ever changing restrictions It is not surprising that businesses altered their business models to survive during unprecedented times however it is a bit surprising that consumer behavior seems to have shifted perhaps permanently and retailers are finding themselves offering the same options post pandemic to satisfy customer requests A recent Market Watch article reports that interestingly enough we are seeing an emergence of c stores as a growth channel for wine Convenience stores are just that convenient and during the pandemic convenience was king as shoppers wanted fast noncrowded options for shopping in smaller locations and convenience stores checked all these boxes Fast forward to present day and consumers are still purchasing wine at For example many consumers convenience stores as there are found themselves shopping in typically many locations and convenience stores for items options close to home as well as they wouldn t normally purchase many price points for different there during the pandemic wine bottles of wine being a big contender THE ADVISOR MAGAZINE 8 Convenience stores increased their focus on grab go packaging as well as the quality of offered products to adapt to pandemic needs resulting in a loyal customer base Convenience stores have also recently enjoyed more millennials shopping them as well as the growth in popularity of items such as canned wine If you own a convenience store that holds a liquor license and you want to cash in give us a call We re here for you Call us any time at 781 319 9800

Not Dead Yet BY MICHELLE HANSFORD Happy Hour Revival Update by Michelle Hansford Massachusetts is seeing yet another attempt to overrule the happy hour ban launched almost 40 years ago being the first state to instate the ban after a 20 year old woman was killed in a drunk driving incident related to free drinks distributed as bar prizes As recently as last year a 2022 ballot question that would have brought back happy hour did not receive enough signatures to appear on the ballot however according to the industry buzz on the topic it appears that supporters are not backing off of this issue According to a July 25 2022 Eater Boston article the state Senate has passed a bill that would give Massachusetts cities and towns the authority to allow happy hour to be reinstated in restaurants and bars if they chose however the bill still needs support from both Governor Baker and the House and even if it does pass it wouldn t be without guidelines The alcohol discounts would be allowed only during certain hours and not after 10pm and the promotions would have to be announced with three days advance notice Although local governments would establish specific rules the ABCC would implement an advisory group to oversee local governments ensuring that safety is the number one priority So what s the chance to see happy hour return And if it did exactly how happy would it be for struggling restaurants and bars As Massachusetts law has relaxed in terms of availability of alcohol on Sundays for both liquor stores and restaurants and now with the availability of services like Uber and Lyft making a safe ride home much more accessible there may be more of a chance for happy hour to return But this doesn t mean that the future of restaurants and bars would be saved as they continue to struggle with staff shortages and the challenges associated with post pandemic business And would offering the same products for less money hurt rather than help their current status We will keep you updated on the possible return of happy hour as it could impact the on premise in a big way THE ADVISOR MAGAZINE 9

OUR FEATURED LISTINGS by Ben Jerrom Featured Listing Full Alcohol NEW Package Store Plymouth County MA Asking Price 525 000 This very attractive clean and appropriately organized All Alcohol Liquor store is located in a very active lifestyle mall anchored by multiple national brands and is easily accessed by local highways The store is thoughtfully designed to provide a relaxed shopping experience There is a wide variety of wine as the store carries well over 1 000 wines in blonde wooden racks and featured stacks featuring both everyday selections as well as hand selected premium wines for special occasions and gifting Multiple large cooler doors and a case walk in cooler provide a generous craft beer selection The store also offers an ample selection of premium spirits with a good representation of Craft as well as lottery tobacco Don t miss your opportunity to own a store in a vast and lively shopping center in a well populated Massachusetts town Call For Information Listing Type Location Asking Price Wine Malt Package Store Middlesex County 125 000 Full Alcohol Package Store Essex County 425 000 Full Alcohol Package Store Plymouth County 525 000 Full Alcohol Package Store Middlesex County 1 000 000 Package Store License Wine Malt Somerville MA 159 000 Package Store License Wine Malt Hudson MA 75 000 Contact Ben Jerrom directly for further details on all of our current listings QUESTIONS ABOUT LISTINGS Call Text Ben Jerrom Partner Buyer Specialist Cell 413 544 4960 THE ADVISOR MAGAZINE 10

WHAT DO THE NEXT20 YEARS HOLD?If only we hada crystal ball...Independent liquor store owners are going to see a shift in the industry and theyneed to be prepared - whether it be to grow their existing footprint or exit to takeadvantage of the market changes.Either way, you need to be planning now. If you have questions on what that willlook like for your business, we can provide detailed recommendations for yourpersonal situation. We're here for you.In approximately 2 months time, a vote inthe Senate will change the liquor storeindustry in Massachusetts forever. Thequestion is by how much...Questions? Give us a call.781.319.9800

YOUR TRUSTED INDUSTRY PARTNERDid you know that for over 2 decades, our Founder, Dan Newcomb, hasbeen in the liquor license industry as the "go-to" for other industryprofessionals and leaders? Every phone call that comes into our office is about a liquor license. Wedon't work in any other industry besides liquor stores and licenses.We provide owners with a "firewall" to protect them from all of the pitfallswe know are out there throughout a transaction because we know how toprepare the deal and navigate the waters. We're here for you.Meet Our TeamDan NewcombCEO & FounderBen JerromBuyer SpecialistJennifer MedicoTransaction SpecialistGlenn LawlerSeller SpecialistMichelle HansfordSeller ConciergeSherri BeauchampMarketing SpecialistQuestions?Call 781.319.9800 orvisit: LiquorLicenseAdvisor.comKate NewcombProject Specialist

References Time To Spread The Word Vote YES To Questions 3 In November Page 4 5 1 Question 3 Responsible Expanded Availability of Alcohol Licenses By The Massachusetts Package Store Association on August 15 2022 1a5e6acc 0c10 4833 96db 386bf7f9e29c pdf constantcontact com 2 Message from the Executive Director by The Massachusetts Package Store Association on August 15 2022 317e1e41 ff71 4172 b142 28963e5b4328 pdf constantcontact com Boomers Not Going Anywhere Page 6 1 Diving Into Baby Boomer Purchasing Trends On Drizly BevAlc Insights https bevalcinsights com diving into baby boomer purchasing trends on drizly Wine Made Even More Convenient Page 8 1 C Store Transformation July 27 2022 Market Watch Mag Feature https www marketwatchmag com c store transformation Happy Hour Revival Update Page 9 1 Could Massachusetts Bring Back Happy Hour by Rachel Leah Blumenthal Eater Boston dated July 25 2022 https boston eater com 2022 7 25 23277127 massachusetts happy hour senate repeal ban july 2022 Special Contributions Acknowledgements Features Editor Editorial Assistant Michelle Hansford Kate Newcomb Magazine Digital Editor Sherri Beauchamp Liquor License Advisor 2022 All Rights Reserved Unless Otherwise Noted THE ADVISOR MAGAZINE 13

THE ADVISOR MAGAZINE BY LIQUOR LICENSE ADVISOR The Advisor Magazine runs on a monthly basis to keep stakeholders in the liquor store liquor license industry in the loop October 2022 Come back for Issue 20 which will reveal the current state of the industry how holiday trends are shaping up and more Liquor License Advisor Suite 1 2036 Ocean Street Marshfield MA 02050 781 319 9800 www LiquorLicenseAdvisor com