The Advisor - Issue #24 : simplebooklet.com

CEO s Note The ripple effect of the past few years continues to show up into 2023 both good and bad Looking For Featured Liquor Store Listings CLICK HERE Page 3 Tax Credit For Small Businesses How will consumers take the news The alcohol industry is recession proof are we about to test it out in real time Stores are moving back into pre pandemic sales levels while restaurants and on premise establishments are bracing for another potential rollercoaster as consumers purse strings tighten Out of state corporate influence on the liquor industry continues to grow as two giants join forces We are about to see what that looks like for small business owners in Massachusetts Remember we re here to help you maximize your best case scenario Sincerely Page 6 Drizly Gopuff Join Forces Page 9 What s Poppin This Valentine s Day Page 10 Dime For Your Thoughts New Bottle Bill Liquor License Advisor has been a trusted resource in the liquor store and license industry since 2002 DAN NEWCOMB Founder CEO Liquor License Advisor THE ADVISOR MAGAZINE 2 Page 4 Challenges Opportunities Facing Boston Restaurant Owners in 2023 www LiquorLicenseAdvisor com

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Looking For Business Tax Credits The new year brings reflection of where we re headed where we ve been and all we ve done to get through an incredibly unusual time for business owners throughout the past few years of the pandemic Some businesses were more fortunate than others All small business owners are looking for ways to maximize their efforts Whether you are a restaurant or pub owner a liquor store owner a lawyer a convenience store owner or something else altogether if you own a small business the US Government has created an Employee Retention Tax Credit Program as a response to support small businesses through the pandemic Employee retention tax credits ERTCs are a type of financial incentive offered by the government to encourage businesses to keep their employees on the payroll during difficult economic times such as during a recession pandemic or following a natural disaster We ve partnered with one of the leading CPA firms in the country that specialize in ERTCs and who have filed over 10 000 applications They have developed the ERTC Fast Progam Each applicant must meet the guidelines however even if you ve received PPP benefits for your company you may still qualify As we move forward in 2023 we want to make you aware that there are resources that could be available to you and your business As always we re here for you Click For Information

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Challenges Opportunities Facing Boston Restaurant Owners in 2023 by Michelle Hansford A recent Boston com article entitled Another learning year What the dining scene will look like in 2023 discusses the questions surrounding the fate of the Boston restaurant scene as 2023 commences The restaurants that did survive the pandemic brought their creativity and adaptability to the table so to speak and as they embrace what modifications are worth keeping and following the changing landscape of what customers want they are also considering the threats of an economic recession and what that means for their business With these constantly shifting factors in mind Boston com surveyed industry professionals and readers on what they think and what they hope 2023 will bring for the restaurant scene The survey polled respondents on seven topics they would like to see addressed in the Boston restaurant industry The number one desire is bringing back happy hour banned 40 years ago which continuously receives attention but not enough support to appear on the most recent ballot Tied for second are food drink costs and livable wages for staff true to the financial concerns facing both owners and customers alike Labor shortages came in next with other and diversity of cuisines offered receiving a few votes THE ADVISOR MAGAZINE 4 and more government support being a non factor Irene Li owner of Mei Mei which closed its Fenway location at the start of the pandemic but very recently opened a new dumpling factory and caf in South Boston knows a thing or two about reinvention Weighing in on the topic of happy hour Li stated I think happy hour is fine and that she is more concerned with reforming liquor license laws in Boston because frequently places cannot afford the cost of one There are many many restaurants especially casual and immigrant owned restaurants that don t have access to liquor or beer and wine revenue The rising cost of food will cause higher menu item prices which will result in business owners and customers deciding if they are willing to pay more Nia Grace owner of Darryl s Corner Bar and Kitchen and The Underground Caf Lounge believes that takeout will become even more popular as customers conserve and curb their spending According to Grace concepts might have to change Service models might have to change For example restaurants may decide to do counter service or use their spaces for different functions like catering operations www LiquorLicenseAdvisor com Continued on next page

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In addition to rising costs, Grace identifies anotherbump in the road for owners, namely thatlandlords, who perhaps cut businesses some slackduring the pandemic, are now asking restaurantsfor repayment. Restaurant owners are also facinglabor shortages after the pandemic, as manyservice workers never returned to the industry.There is also talk about changing the tippingstructure: an anonymous reader told boston.comthat they “would like to see the tipping structureimprove, because it does not benefit diners. Whyshould I have to pay 20-30% tip so that restaurantowners can avoid providing a livable wage?” If thetipping structure does change, some restaurantswill be faced with repayment to landlords, payingworkers more, and higher prices of just abouteverything they need to run their business.Regardless of opinions concerning these topics,restaurant owners must get creative. Again. Thereare a myriad of challenges facing restaurantowners and diners as we move into 2023. Fromcustomers opting for takeout options to spendmore conservatively, to staff shortages, to owinglandlords money, there are many reasons why therestaurant owners in Boston will have to actresourcefully to not only survive – but thrive – in apost-pandemic, financially struggling city.###Challenges & Opportunities Facing Boston Restaurant Owners in 2023 (Continued)by Michelle HansfordTHE ADVISOR MAGAZINE  | 5www.LiquorLicenseAdvisor.com

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Drizly Gopuff Join Forces by Glenn Lawler Drizly an Uber company and Gopuff have joined forces to offer immediate on demand delivery of drinks to adults of legal drinking age This partnership brings the full Gopuff assortment of beer wine and spirits to Drizly s beverage alcohol e commerce platform while also expanding the number of BevMo and Liquor Barn stores on the platform The collaboration expands Drizly s network of partners offering convenient delivery options while also expanding Gopuff s reach by tapping into Drizly s customer base The new partnership builds on the addition of Gopuff to the Uber Eats app in 2021 and will provide a more seamless shopping experience for customers This will have a major impact on the liquor industry and business for liquor store owners Here are three ways this merger will change the liquor industry 1 Convenient delivery options This partnership will provide customers with convenient delivery options for drinks making it easier for them to purchase alcohol from the comfort of their own homes THE ADVISOR MAGAZINE 6 2 Increased reach This merger expands both Drizly s and Gopuff s reach allowing them to tap into each other s customer base and reach a larger audience This will increase the number of customers that liquor store owners can reach and could potentially lead to increased sales 3 Streamlined shopping experience The partnership between Drizly and Gopuff will provide customers with a more seamless shopping experience which will improve customer satisfaction and encourage repeat business So What s The Catch Competition This will increase competition for other liquor delivery companies who may struggle to keep up with the convenience and reach offered by Drizly and Gopuff Dependence on technology With the increased reliance on technology for delivery there is a risk that technical issues could disrupt the delivery process and negatively impact the customer experience www LiquorLicenseAdvisor com

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Drizly Gopuff Join Forces Continued by Glenn Lawler This collaboration of Drizly and Gopuff will bring even more immediate on demand delivery of drinks to consumers Rob Mellion Executive Director of Massachusetts Package Stores Association has long said that this delivery method along with self checkout options increases access and the risk of serving underaged consumers which has been an ongoing safety concern Overall this alliance will provide consumers with more convenient delivery options for drinks and access to a wider range of beer wine and spirits through the Drizly marketplace Consumers of legal drinking age in select markets can now go online or download an app to shop a wide range of adult beverages making the shopping experience for alcohol even more streamlined and convenient than ever THE ADVISOR MAGAZINE 7 www LiquorLicenseAdvisor com

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ARE POCKET LICENSES BECOMING AN ISSUE IN BOSTON BY DAN NEWCOMB Pocket licenses are liquor licenses in Massachusetts that are not being used by the licensed establishment due to reasons like temporary closure permanent closure etc According to Massachusetts law pocket licenses are considered a violation and are subject to cancellation by the local licensing board The decision of the Alcoholic Beverages Control Commission ABCC can be appealed but the decision is final Based on the unusual activity of the past few years it seems issued licenses are not being used which has created a supply shortage for restaurants looking to move into the Boston area As you can imagine the climate for restaurants hasn t been friendly through closures and restrictions impacting the bottom line Owners who are trying to get back to profitable ways are now dealing with rising costs slimming margins and customers who are tightening their purse strings On the developer side delays in construction or issues with start up now has the clock ticking making them liable for compliance issues If the closure is temporary the licensee should inform the local licensing board and seek permission for the closure If permanent the licensee may market and sell the license before receiving a violation notice for non use Upon receiving a notice for non use the licensee should check if proper notice was given and if their due process rights were protected They are entitled to proper notice and a reasonable opportunity to be heard If proper notice and a hearing were given the license holder is given a sixmonth grace period to transfer or reactivate the license Currently we are seeing liquor licenses close just at or past the 6 month mark given the back log in the system and today s timelines which means licensees need to be proactive to avoid a messy and costly transfer and to get the most out of their license rather than having them revoked with nothing to show Landlords and Lenders Beware If you are issued a Boston All Alcoholic Beverages License and are not operating the business you are at risk of cancellation of the license and forfeiture of value In the past we ve seen the City of Boston create additional licenses to balance liquor license supply issues which may be something to look at in the future to meet demand If you or someone you know is holding a pocket license whether you re planning to use it in the future or not we can analyze the risks and outline a plan to maximize the value of your asset now and in the future Contact us today

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What s Poppin This Valentine s Day by Kate Newcomb Over the past few months experts have expressed concern that with heightened reasons to celebrate post pandemic the supply of champagne may be limited in 2023 The root of the issue dates back to 2020 during the rise of COVID 19 when champagne production decreased by 20 per the decrease in celebrations overall Due to the current shortage whether you are a liquor store or restaurant owner we suggest being mindful when stocking up on champagne to prepare for this Valentine s Day as celebratory toasting is back in full swing We ve done our research and are here to help you determine which champagne is highly popular right now from more upscale bottles to budget friendly ones Town Country recently released an article The Best Champagne For All of Your Celebrations including lavish options to celebrate with THE ADVISOR MAGAZINE 9 The pricier bottles range from 50 to 550 those being Moet Chandon Imperial Bollinger Brut Special Cuvee Veuve Clicquot Brut Yellow Label Krug Grande Cuv e 170th Edition Taittinger Brut Champagne BillecartSalmon Brut Reserve Ruinart Blanc de Blancs Pol Roger Brut Champagne Dom P rignon P2 Pl nitude Brut Champagne Perrier Jou t Grand Brut NV Pommery Royal Brut Champagne N V Piper Heidsieck Cuvee Brut and Cristal Brut Champagne Along with the upscale brands it is also important to recognize the current state of the economy when selecting champagne to ensure you are able to accommodate a variety of consumers Town Country recently published an article The Best Inexpensive Bubbly for All Your Celebrations revealing the leading champagne options that are more affordable www LiquorLicenseAdvisor com According to the article the most popular bottles under 25 include Chandon Brut Sparkling NV Langlois Chateau Cremant de Loire Segura Viudas Brut Reserva Lucien Albrecht Cremant d Alsace Brut Coppola Diamond Prosecco 90 Cellars Prosecco Graham Beck Brut Methode Cap Classique Mumm Napa Brut Prestige and Good Clean Spumante Based on this data and research on what s poppin in the champagne industry acquire your bubbly products in accordance with what s currently in demand to ensure you are able to accommodate consumers across the spending spectrum with what they want this Valentine s Day

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A Dime For Your Thoughts Proposed Bills To Increase The Bottle Deposit From A Nickel To A Dime by Michelle Hansford Will increasing the bottle deposit from a nickel to a dime encourage more Massachusetts residents to redeem their bottles and cans Some people think it will and proposed changes to modify Massachusetts s current bottle bill which has been in place since 1983 are in the works Proposed revisions also include expanding the types of containers requiring a deposit namely water and wine bottles according to a recent Telegram Gazette article The article reports that legislators have filed at least three bills seeking to revise the state s beverage container laws since the start of the new legislative session with environmental concerns at the forefront of these proposed changes Rep Marjorie Decker D Cambridge weighs in on the topic stating that Plastic pollution is as much of a danger to public health as it is to the environment The bottle bill is one of the most effective tools we have to encourage recycling Other house legislators and senators are focusing their attention on the pollution issue associated with nip bottles for which there have been five bills filed concerning them being recycled Politicians aren t the only ones voicing opinions on the matter Robert Mellion executive director of the Massachusetts Package Stores Association supports the extension of the bottle deposit to different container types but believes that the handling fee is too low at the current rate of 2 25 per bottle as the cost of handling empty containers and processing the collection and return of nickel deposits has skyrocketed according to Mellion Not everyone is supportive of these proposed measures however Christopher Crowley executive vice president and treasurer of Polar Beverages in Worcester believes that an expanded bottle bill would compete with those recycling programs that many municipalities have adopted and that it would remove from the recycling stream many of the materials that bring the most profit to recyclers Plastic water bottles and aluminum cans according to the article Crowley believes encouraging recycling programs would be a better solution Regardless of where you stand on this issue the bottle bill was originally instated almost 40 years ago and a lot has changed since then Perhaps the question isn t if there should be a change but ultimately what the change should be THE ADVISOR MAGAZINE 10

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THE ADVISOR MAGAZINE  | 11OUR FEATURED LISTINGSLiquor License Advisor is proud to offer, for yourconsideration, the sale of a liquor store ideallylocated off route 495 near the center of an affluentEssex County town. In addition to holding a full liquorlicense, the store also holds tobacco andLottery/Keno licenses, making it a convenient stopfor customers. The store offers a variety of wine,beer & liquor in an amply-sized, clean & well-organized store, adorned with plenty of windows toproduce natural lighting. The real hidden beauty isthe separate wine sales floor that promotescomfortable browsing with well over 400 winelaydown positions. Growth may be built by enhancingthe case buyers' experience. There is both on-streetand shared parking behind the building. A bus stopand traffic light in front of the store contribute to thestream of traffic and store customers, with dailytraffic counts of 30,000. Don’t miss your opportunity to own an establishedbusiness with strong sales opportunity in aprosperous community!Featured Listing: Full Alcohol - Package Store Essex CountyAsking Price: $200,000 by Ben JerromCall For InformationCall For InformationQUESTIONS ABOUT LISTINGS?Call/Text Ben Jerrom Partner & Buyer SpecialistCell: 617.936.7102Contact Ben Jerrom directly for further details on all of our current listings.

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OUR FEATURED LISTINGS by Ben Jerrom Here is a summary of some of our other available retail liquor stores and liquor store licenses This is not an inclusive list so if there is something specific you are looking for contact Ben Jerrom for more information Listing Type Location Asking Price Wine Malt Package Store Middlesex County 125 000 Full Alcohol Package Store Middlesex County 250 000 Full Alcohol Package Store Middlesex County 350 000 Full Alcohol Package Store Suffolk County 2 100 000 includes real estate Full Alcohol Package Store Middlesex County 749 000 Full Alcohol Package Store Suffolk County 825 000 Somerville MA 159 000 Package Store License WM Contact Ben Jerrom directly for further details on all of our current listings QUESTIONS ABOUT LISTINGS Call Text Ben Jerrom Partner Buyer Specialist Cell 617 936 7102 THE ADVISOR MAGAZINE 12

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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 617.648.5558 orvisit: LiquorLicenseAdvisor.comKate NewcombProject Specialist

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Guaranteed To Maximize Refundable Credits For Local And Small To Medium Sized Businesses So Easy That Your Entire Commitment Is 15 Minutes No Upfront Fees To Get Qualified - 100% Contingent On Your Refund Audit-Proof Documentation For IRS Support No Other CPA Firm Offers The 15 Minute Refund™ Yes, Qualify Me!Companies outside of the liquor license industry are also eligible to apply. Any links contained in this ad are affiliate referral links. Free, No Obligation Pre-Qualification.By answering a few, simple,non-invasive questions ourteam of ERTC experts candetermine if you likely qualifyfor a no-strings-attached taxcredit. There is no cost orobligation to be pre-qualified.Find Out If Your Company Qualifies To Get Up To $26k Per W2 Employee In A Few Simple StepsWhy Choose ERTC Fast Program™? We only specialize in maximizing Employee Retention Tax Credits for small business owners. You won’t find us preparing income taxes, compiling financial statements, or providing attestation services of any kind.When you engage us, rest assured that you’ve hired the best CPA Firm to lock in this one-time opportunity for a large refund check from the IRS. Even If You Received The PPP LoanIf you received either or bothPPP Loans you may still qualifyfrom the ERTC Rebate as well.Many of our clients havealready! No Restrictions - No Repayment.While the ERTC was created inthe CARES act along with thePPP Loans – this is not a loan,there is no repayment. Thereare no restrictions for howrecipients of the credit mustuse the funds.

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References Tax Credit For Small Businesses Page 3 1 ERTC Fast Program website at https www ertcfastprogram com lpsb Challenges Opportunities Facing Boston Restaurant Owners in 2023 Page 4 1 Readers Restaurant Professionals Share Prediction Hopes For 2023 Dining Scene https www boston com community readers say readers restaurant professionals share predictions hopes for 2023 dining scene p1 hp_secondary Drizly Gopuff Join Forces Page 6 1 Drizly Gopuff Join Forces For On Demand Alcohol Delivery Jan 31 2023 Press Release https www prnewswire com news releases drizly gopuff join forces for on demand alcohol delivery 301734012 html What s Poppin This Valentine s Day Page 9 1 Champagne Exports Skyrocket Shortages Possible in 2023 by Nickolette Baker VinePair dated January 5 2023 https vinepair com booze news champagne exports skyrocket 2022 2 The Best Champagne For All of Your Celebrations by Lauren Hubbard Town Country dated December 6 2022 https www townandcountrymag com leisure drinks g25577304 best champagne brands 3 The Best Inexpensive Bubbly for All Your Celebrations by Lauren Hubbard Town Country dated December 6 2022 https www townandcountrymag com leisure drinks g25860964 cheap champagne brands Dime For Your Thoughts New Bottle Bill Page 10 1 A nickel more Mass legislators seek to revise decades old state bottle bill reel in beverage container waste Jan 26 2023 https www telegram com story news state 2023 01 26 efforts to expand bottle bill could add more containers higher deposit amounts 69838284007 Special Contributions Acknowledgements Features Editor Editorial Assistant Michelle Hansford Kate Newcomb Magazine Digital Editor Sherri Beauchamp Liquor License Advisor 2023 All Rights Reserved Unless Otherwise Noted THE ADVISOR MAGAZINE 15

The Advisor - Issue #24

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