The Advisor Magazine - Issue #4 : simplebooklet.com

To say it's been a long time coming is an understatement. Fans havereturned to their seats, people are frequenting restaurants, enjoying patios,hanging out at bars and even travelling again.With Summertime officially kicked off, there's newfound hope andopportunity.In this issue, we take a close look at the reopening and its potential "reboundeffect" across the restaurant, bar and social life sectors. Is the best yet tocome?Page 4 - Recovering,Reopening, & Rebounding:State of Restaurants &BarsPage 7 - What's On TheMenu? The Future ofBoston's Social ScenePage 10 - Case Study:"I wasn't really looking tosell."The Commonwealth of Massachusetts has executed its rolloutplan across the state allowing people to gather in numbers andreturn to pre-pandemic activities. How will this impact consumers?Looking ForFeatured LiquorStore Listings?www.LiquorLicenseAdvisor.comTHE ADVISOR MAGAZINE  | 2Founder, CEOLiquor License AdvisorD A N N E W C O M BLiquor License Advisor has beena trusted resource in the liquorstore and license industry since2002.

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M O V I N G All industries are encouraged to follow CDC guidance for cleaning and hygiene protocols F O R W A R D New Season New Era Mass Governor Baker s Administration Fully Reopened The Economy May 29 2021 by Dan Newcomb FEELING LUCKY The casinos horse racing and simulcasting licenses are also back in business per Massachusetts Gaming Commision announcement regarding the May 29 2021 reopening There s so much to celebrate and more to come Tuesday June 15th 2021 Governor Baker will end The State of Emergency and the Administration will work with legislative and municipal partners during this period in order to manage an orderly transition from emergency measures adopted by executive order and special legislation during the period of the State of Emergency All restrictions subject to submitting appropriate safety plans to the Department of Public Health and based on public health vaccination data WELCOME BACK SUMMER This summer proves to be one like no other with the complete reopening of all industries and lifting of the majority of restrictions put in place starting May 29 2021 It was a sight to see with stadiums and arenas at full capacity meanwhile youth sports will also take on a new look with outdoor sports no longer requiring face masks As always all licensees must ensure that they comply with the laws of the Commonwealth of Massachusetts and that sales of alcoholic beverages take place only as authorized by federal state and local law All questions should be directed to the ABCC Executive Director Ralph Sacramone at rsacramone tre state ma us or 617 727 3040 x 731 For details on the full reopening within the Commonwealth visit www mass gov infodetails reopening massachusetts The reopening plan called for ending restrictions when vaccines became widely available and effective May 29 2021 all industries were permitted to open With the exception of remaining face covering requirements for public and private transportation systems and facilities housing vulnerable populations all industry restrictions were also lifted and capacity increased to 100 for all industries www LiquorLicenseAdvisor com THE ADVISOR MAGAZINE 3

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Article byDan NewcombIt is important to note that despitethis spike in sales, the reopenings arenot affecting off premise sales. In thenear term, one expert predicts thenumbers in retail to continue growingas the ready-to-drink category keepsclimbing along with large spiritbrands. In addition, restaurants arenow condensing their wine lists “untilbuyers have more confidence in thefuture and their businesses arestabilized."1 Smaller lists make iteasier for staff and consumers alike,still offering premium wines in a lesscapital intensive manner.R E C O V E R I N G , R E O P E N I N G & R E B O U N D I N GThroughout this unique time, amajor question that has crossedthe nation’s mind is- “What willhappen to restaurants?”1Restaurants have and always willbe a key part of commercialism inhospitality- but it does not juststop there. Agriculture, food andbeverage purveyors, restauranttechnology and many more thathave developed their businessmodels to supply the growingrestaurant industry and employmillions more workers. Theeconomic contribution of therestaurant industry was struck bylayoffs of nearly 8 millionemployees.A place of pastime, work,sustenance, reunion, celebration,enjoyment, dating and tradition.The industry that may not havefirst come to mind when thepandemic hit but that lingers withus through it and has now comefull circle amidst reopenings.“Vaccinations are here, weather iswarming, and restaurants in everystate are now open at somecapacity,”1 as Daily Seventy Fiftyputs it. This article references 11wholesalers to learn whatordering trends they arewitnessing from their customersand what it tells us about therebound for the drinks industry incoming months.ON PREMISE BOUNCES BACKThe Roaring 20’s are back and ametamorphosis has begun forthe drink industry. On premisecomes back to life as states rollback their restrictions. “'In thelast 45 days, the on-premisechannel has significantlyexceeded our expectations,'says Mark Fisher, the presidentof sales and marketing forMassachusetts-basedMartignetti. Not surprisingly, theon-premise is up 325 percentcompared to last year(according to Nielsen).”1With lack of entertainmentoptions, little socialization letalone dating scenes, Millennialshave been fueling this upticksince the winter months and willcontinue to fire up itsresurgence, while recentlyvaccinated boomers are nowadding support. Lastly, largegatherings are beginning toresume with increasing ordervolume for restocking venues.“People are beginning to makebig plans for their deferredimportant events likegraduations, weddings,anniversaries, and reunions, andbusinesses need to entertainclients. While much of this willoccur next year, plans are fallinginto place now."1THE ADVISOR MAGAZINE  | 5WHAT'S NEXT?“There’s no doubt in my mindthat the Roaring ’20s are takingroot in 2021—we’ve been usingthis phrase for months,” saysStewart. “People are beginningto make big plans for theirdeferred important events likegraduations, weddings,anniversaries, and reunions, andbusinesses need to entertainclients.”1Continued on Page 6.

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A TOAST TO THE END OF AN ERA.“It’s worth remembering that there has been tremendous trauma in thepast year for hospitality—30 percent of on-premise licenses filed forbankruptcy in the last year,”1 adds Lombardo.While optimistic for the coming months, McCollum, like mostwholesalers, already has her eye on the end of the year.As for in store wine sales, “We are seeing more opportunities for theniche and smaller producers,” says Jaime Rubin, Vice PresidentBusiness Development at Massachusetts-based Ruby Wines.“Customers are spending more time in stores, allowing buyers to beable to reconnect and recommend new items; they are interested intrying new wines rather than quickly ordering curbside.”1Some states in the country have set a precedent for reopening numberslike Arizona, Texas, and Florida. Experiencing a V-shaped recoverycurve, where some other states are predicted to come in like a lamb andout like a lion, just as the seasons have. Despite cross country weatherdifferences, Eric Stewart, the President and Owner of Vanguard Wines,harps on restaurants continuing their outdoor dining efforts for the longhaul, preserving this new channel of business.THE ADVISOR MAGAZINE  | 6“Summer will be strong, but we reallythink the holidays and the ringing in of2022 will bring a sense of euphoria!”LET'S GET TO THE NUMBERSAcross the US, 98% of stateshave bars open indoors (eithercompletely, or with capacitymeasures in place) and 100% ofstates have restaurants openindoors to some capacity.2On Premise velocity in outletscurrently trading is +155% higherthan the same time last year..The comparable week last yearwas one of the worst On Premisedecline yet.2New York is the best performingstate vs the week ending on May15, with growth of +17%,experienced across the state,with NYC up +17% and the restof the state up +16%.2California experiences thestrongest velocity trend vs lastyear (+253%) due to tighterrestrictions at the time.2Stay tuned for more updates as the countryreopens.

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Next Steps For Restaurant & Bar OwnersIt’s no secret that the restaurant and bar scenewas one of the hardest hit industries during thepandemic with an estimated 3400 or 23% oftotal establishments closed permanently, according to Bob Luz’s report in the BostonGlobe. He says, “What we do know is thatBoston has been the hardest hit through all ofthis.”5High rent, strained relationships with tenantsand landlords, as well as uncertain return to“normal” of regulars, tourists and eventgoers, leaves some owners in limbo – should theyhang on to their license and power through, oris this a good time to evaluate another path?During this same time period, developmentprojects were put on hold leaving planning,sales, and securing licenses hard to come by.Relief was provided somewhat when licenserenewal came around in November 2020 as anexception was made to restaurants and barswho were not operating at that time but wereallowed to renew their licenses with noquestions asked.“An estimated 3400 or 23% of totalestablishments closed permanentlyduring the pandemic."5
(Bob Luz of Massachusetts RestaurantAssociation reported in Boston Globe.)by Glenn Lawler

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With increased demand and low supply, the value of these licenses is proportionately impacted.Right now, with optimism high for development opportunities, it may be the perfect storm forrestaurant and/or bar owners who are open to exploring their options to see what their liquorlicense is really worth in the current marketplace. Closures of some of Boston’s most beloved restaurants like McGreevy’s, Eastern Standard, IslandCreek Oyster Bar, Bar Boulud, and Post 390 to name a few, have some owners rethinking what thepath forward looks like. As things move back to as pre-pandemic as possible, the supply for liquor licenses is expected toincrease, as those who are not renewing in November 2021 will be re-introduced to themarketplace.If owners are on the fence and considering all of their options at this point, we can help evaluatewhat your on-premise license is worth today. In some cases, especially if you’re in the Boston area,we may even have a buyer for you.Reach out to us confidentially, we’re here for you. THE ADVISOR MAGAZINE  | 8All Alcohol Retail BeverageAll Alcohol Retail BeverageContact Ben For Full Details.#2 - Boston, MA#3 - Boston, MAOn Premise License Type: Store Location: Asking Price:#1 - Boston, MAContact Ben For Full Details.All Alcohol Retail BeverageContact Ben For Full Details.All Alcohol Retail Beverage#4 - Boston, MA Contact Ben For Full Details.*Contact Ben Jerrom directly for further details on all of our current listings.

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THE ADVISOR MAGAZINE  | 9QUESTIONS ABOUT LISTINGS?Call/Text Ben Jerrom Partner & Buyer SpecialistCell: 413.544.4960This very attractive, clean, and appropriately organizedAll Alcohol Liquor store is ideally located at a busylighted intersection in a top-line marketplace, anchoredwith a bank and an upscale Italian restaurant. The storeis well designed with soft tone lighting that enhances arelaxed shopping experience. There is a wide variety ofwine, as the store carries well over 1,000 wines in blondewooden racks and featured stacks, featuring botheveryday selections, as well as hand-selected premiumwines for special occasions and gifting. Multiple largecooler doors and a case walk-in cooler provide agenerous craft beer selection. The store also offers anample selection of premium spirits with a goodrepresentation of Craft, as well as lottery & tobacco. Don’t miss your opportunity to own a store in a regularlyfrequented marketplace on a main suburban road!NEW Listing: Liquor Store for Salein Attractive Marketplace!Plymouth County, MA $550,000 by Ben JerromContact Ben Jerrom directly for further details on all of our current listings.Wine & Malt Convenience Store Package Store with Full Liquor $249,900Middlesex County, MAEssex County, MAStore Type: Store Location: Asking Price:In The Heart of Boston $425,000Package Store with Full Liquor$375,000Package Store with Full LiquorSuffolk County, MA $875,000Wine & Malt Convenience Store Middlesex County, MANEW - $114,900

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Based on Liquor License Advisor's knowledge of themarketplace & list of active qualified buyers, we wereable to assist Todd in maximizing his return whenselling one of his stores. Although Todd was happy with his stores, heresponded to an ad he had seen from Liquor LicenseAdvisor to inquire about the window of opportunity inthe marketplace. When presented with all of thecurrent information he decided to pursue listing oneof his stores looking for top dollar. “I got more money formy store than I wouldhave in any otherscenario thanks to Dan(& team).”Todd B., Recent Seller5/5 Stars At Post-Closing InterviewSeller was a multi-store owner& selling wasn't on his radaruntil he considered themarketplace "bump" invaluation due to the pandemic.Knowing where the marketplace is going & how toleverage it allowed Liquor License Advisor to positionTodd's store in a way that was actually a highervaluation than Todd initially realized, which made it ano-brainer for him to list. Marketplace KnowledgeMany owners assume they already know the value oftheir store; however, when presented with the fullpicture, especially now with the current marketplace,they can be pleasantly surprised with today'svaluation. Openness To Explore Options Todd valued forthright communication, responsivesupport & an informative partner in his transaction -this made the process easy & straightforward.Experienced Professional"I wasn't really looking to sell."LiquorLicenseAdvisor.comTHE ADVISOR MAGAZINE  | 10

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For over 2 decades, our Founder, Dan Newcomb has been inthe liquor license industry. Every phone call that comes intoour office is about a liquor license. We don't work in anyother industry besides liquor stores and licenses.We provide owners with a "firewall" to protect them from allof the pitfalls we know are out there throughout atransaction because we know how to prepare the deal andnavigate the waters. We're here for you.Dan NewcombCEO & FounderBen JerromBuyer SpecialistJennifer MedicoTransactionSpecialistGlenn LawlerSeller SpecialistMichelle HansfordSeller ConciergeNatali WilliamsSpecial ProjectsSherri BeauchampMarketing SpecialistKyle NewcombSales Team Assistant

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© Liquor License Advisor 2021, All Rights Reserved Unless Otherwise NotedSpecial Contributions & Acknowledgements:- Features Editor & Editorial Assistant: Natali Williams;- Magazine & Digital Editor: Sherri Beauchamp.THE ADVISOR MAGAZINE  | 153 - Baker, Charlie. (Mass.Gov.) Baker-Polito Administration to Lift COVID Restrictions May 29, State to MeetVaccination Goal by Beginning of June. 4 - Lange, A. (2020, July 07). The Economic Importance of the Restaurant Industry. New Season. New Era (Pg 4 )1 - Bieler, K. (2021, April 23). What Wholesalers' Inventory Depletions Reveal About Industry Recovery. 2 - CGA Strategy. (2021, May 15.). COVID-19 On Premise Impact Report: Sales. Recovering, Reopening, and Rebounding (Pg 5-7)What's On The Menu (Pg 8-9)5 - First, Devra. (May 8, 2021) Amid restaurant closures in Boston, there is an opportunity to reshape the city’s diningscene for years to come, Boston Globe Online Article.

The Advisor Magazine - Issue #4

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