Where & How They AreDriving Industry ChangeIndustry SpotlightFeaturing Ben JerromWhat Pandemic RecoveryLooks LikeT H E N A T I O N ' S L E A D I N G L I Q U O RS T O R E & L I C E N S E R E S O U R C EADVISORADVISORI S S U E # 6 • A U G U S T 2 0 2 1
Some things will never be the same and some are looking familiar again.People are finding ways to celebrate the Summer season with family andfriends trying to make up for lost time, even if it's closer to home for some.With support from the State still in place, some owners are finding a newhurdle, having trouble with finding qualified staff. We are in a transition periodthat is interesting to watch unfold.In this issue, we discover which trends are here to stay and which ones willfall by the wayside for restaurant, bar, hotel and liquor store owners. Who'srecovering and who still requires support? Page 4 - Gen Z's Impact OnAlcohol: Where & HowThey Are Driving IndustryChangePage 7 - How Buyers CanGet The Upper Hand:Industry SpotlightFeaturing Ben JerromPage 11 - Top 10 TrendsFor On Premise: WhatPandemic Recovery LooksLike The Commonwealth of Massachusetts continues to recover as theSummer heats up. Where will the "new normal" take us?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.
byDan NewcombLooking forward to 2022 with the budget signed July 16, 2021, theCommonwealth is positioned for support and stability, focusing on thecommunities which were hardest hit during the pandemic.In some areas of the State a unique barrier has appeared - specifically in theservice industry with some restaurants choosing to close as a result of a lackof qualified staff to support the level of service their patrons are used toreceiving during the busiest weekend of the Summer, the Fourth of July.It's a unique time, as some are choosing to accept support payments from thegovernment rather than return to work at this time.Mass. Governor Baker signs the 2022 Budgetas law.THE ADVISOR MAGAZINE | 3www.LiquorLicenseAdvisor.comIn the CGA's Special Report, COVID -19Impact On Premise Impact Report forJuly 2021 showed some interestingsurvey numbers as patrons return toon premise.Some notable behaviours included:.
Where & How They Spend Their Money Is Changing The Industry by Dan Newcombwww.LiquorLicenseAdvisor.comTHE ADVISOR MAGAZINE | 4Dan Newcomb is Founder & CEO ofLiquor License Advisor & has been in theindustry for more than 20 years.
Gen Z’ers are not only changingwhere they will spend a majority oftheir time drinking, but also what theywill be drinking. The current drink ofchoice is hard seltzers, with Ready-to-Drink (RTD) cocktails and othercanned beverages also gainingpopularity and stealing a bit of theseltzer’s thunder. Pre-mixed cocktails wereperfect for evenings athome without a bartenderto mix a drink, and theconvenience of it, pairedwith the cost savings, arecontributing to theirlasting power.G E N Z ' S I M P A C T O N P O S T - P A N D E M I C A L C O H O LThere is a defined line between“pre-pandemic” and “pandemic”life. Everything as we knew itcame to a screeching stop, asbusinesses shut their doors andpeople sought at-homeentertainment options instead.However, the lines are becomingblurred as we move into “post-pandemic” life, especially when itcomes to consumerism and theways in which we purchase andconsume adult beverages - - andno one is more influential insetting and keeping these trendsthan Gen Z. Because thepandemic set in during whatwould typically be the most socialyears of their lives, they quicklymade being “socially distant” associal as possible. Rather thanspending their prime locked inisolation, they influenced themarket in new ways - ways soimpactful that they don’t seem tobe going anywhere any time soon. Drizly, North America’s largest e-commerce alcohol marketplace,recently released their 2021Consumer Report, in which theyrevealed many interestingfindings regarding how peopleplan to purchase and consumeadult beverages post-pandemic.Gen Z, fresh to the legal drinkingscene, is making a distinctivemark on this industry, paving theway for post-pandemic alcohol SURVEY SAYSTHE ADVISOR MAGAZINE | 5consumption and decipheringwhich pandemic trends will carryon. The Consumer Report highlightsa survey of “over 1,000Americans of legal drinking age,independent of Drizly’s customerbase, in late June 2021 on arange of topics, from theirbeverage choice inclinations forthis summer and fall (and whatinfluences those choices), tohow newfound interests at homestand to impact consumptionoccasions and locations longerterm, and how they arepurchasing alcohol.”The findings show that althoughthe younger drinking populationplans to return to restaurantsand bars, they also plan tocontinue drinking at home,especially while cooking andwhile watching TV and movies,one of the reasons why beingbecause it is less expensive todrink at home.And with the ease of onlineordering, a result of thepandemic with which manybecame comfortable, the abilityto enjoy beverages at home iseven more stress-free. MONEY TALKSContinued on Page 6.CONVENIENCE ROCKS
As a generation known for stating their beliefs and living by them,Gen Z is combining the best of the pandemic drinking scene withthe more traditional one, and the market is hearing them – andresponding. But this generation doesn’t only care about convenience and cost;they are also considered “conscious alcohol consumers”, and theypay attention to their drink ingredients, how they’re made, and bywhom. This younger generation focuses on health in mostaspects of their lives, which translates into them also wanting tochoose the most healthful option when it comes to adultbeverages. Factors such as minority ownership, sustainablepractices, and “healthy” ingredients are all important to Gen Z, aswell as family ownership, size, and local ownership. THE ADVISOR MAGAZINE | 6SUPPLY & DEMAND OFBOSTON AREA ON PREMISE LICENSESWith the pandemic hittingrestaurants, hotels and bars hard,as well as development being puton hold, the market is getting veryinteresting.Owners who are struggling toreopen or don't have plans toreopen may have a uniqueopportunity at this time.If you or someone you know wouldlike to discuss possible scenariosfor a Boston area On PremiseLicense you have - it's time toreally see what your options are.Call Liquor License Advisor first.G E N Z ' S I M P A C T O N P O S T - P A N D E M I C A L C O H O L C O N ' TCONSCIOUS CONSUMERS
INDUSTRY SPOTLIGHT Jerrom Advises Buyers How To Get The Upperhand by Michelle Hansford BEN JERROM Liquor License Advisor Partner Buyer Specialist In April of 2018 Liquor License Advisor welcomed Ben Jerrom as a Partner and Buyer Specialist Jerrom learned to navigate legalese and politics early in his career after interning at the Massachusetts State Senate working for a local Boston attorney doing some liquor license lobbying and working in New York City at Baker McKenzie LLP Jerrom admits those experiences have helped him transition nicely into the liquor license and liquor store industry as he has mastered how to communicate effectively with very highpowered high operating professionals At Liquor License Advisor Jerrom works closely matching Buyers with stores and licenses that suit their capacity he gives them the greatest chance of success by working closely throughout the deal with all key stakeholders involved Here s the Q A with our own Client Concierge Michelle Hansford who took to interviewing Jerrom Where do you spend your time outside of the office I love the outdoors in all sorts of different ways It s not limited to the mountains or flatlands or the ocean I love doing outdoor activities I try to get my dog off leash somewhere at least every other day I go out on my boat both with my wife and alone and I love to hike and camp and go fishing I do love video games as a typical millennial boy and I like to read a lot of news as political stuff is what I went to school for and I do enjoy educating myself on it a lot What s your favourite part of a transaction for a buyer deal My favourite part is when a buyer is clear about what he wants and the pre offer phase There s this dopamine rush when you know you have someone really close and they re excited about a store and there s all of this opportunity rushing in and none of the hurdles have gotten in the way yet Being able to guide them and make them comfortable for the rest of the way is definitely my favourite part
Would you say that you have a process that you guidebuyers through? Yeah, usually the buyer finds a store through Biz Buy Sell,our website, or an email blast, so step one is calling me.Step two is receiving the basic level information about thestore and them checking out the store. Step three is themost crucial stage which is getting them enoughinformation for them to feel comfortable enough to makean offer. You don’t want to flood them with too muchinformation during that first call; you want a certain levelof excitement and emotional investment so there’spositive buildup before you get into the nitty gritty ofeverything. What’s your advice for prepping buyers? I think this question has to do with the level of experiencea buyer has. A first or second time buyer should have allof their finances in order, number one, and number two isto trust the advice of your advisor, especially if you’reworking with us. A good example is when we’re workingwith attorneys. I refer someone to an attorney because Ithink that attorney will be ideal at getting that transactionfrom offer to close as smoothly and as quickly aspossible. Liquor stores and licenses is all I do, so trustingus along the way is the best thing you can do. As far asother preparation goes, know ahead of time what’simportant to you. Think about storage space, parkingneeds, neighborhood preference, what type of store doyou want, and if you are prepared for the amount of timethat you will have to spend there? Do you have someone inyour family that you can partner with who will help guideyou along? I would rather know your questions ahead oftime. You’ve worked with different experience levels,backgrounds, and cultures. Can you give some insight? We have experience of working with people of all differentbackgrounds, thankfully. It’s interesting becausesometimes it’s a bit of a study in anthropology becauseyou get to see what’s consistently important to people ofdifferent cultures. What the business community is like inthe culture where they came from a lot of times reflectshow they do business here and how they want to bemarketed to. I definitely think that there’s a changingdemographic. When you’re working with a buyer for the first time,what’s the biggest priority in advising them and building arelationship? Number one, find out what’s important to them, andnumber two, be honest with them. You don’t want to painteverything in a negative light, but you don’t want to lie tothem. I have inquiries come in every day – there’s noshortage of buyers. The buyers I have the bestrelationships with are the ones I have been the moststraightforward with. Honesty is definitely the best policy. How do you match buyers with stores? If you’re new to the market, a huge store with a lot of cashflow, commercial tenants, and a big price tag isn’t goingto be the right opportunity for you. Don’t bite off morethan you can chew, and be honest with what yourcapacity is. If you need to surround yourself with peoplewho have the experience, do that.
Are there hot markets that are doing really well right now? At the beginning of the pandemic, stores that operate 30-45 minutes outside of Boston were very attractive topeople because they have people who commute in and out, are middle-class, and are very desirable - and whowouldn’t want a store in a nice neighborhood. With working from home continuing for some, this has tipped thescale a bit - I don’t know if there’s a market that doesn’t have people going after it right now. Delivery companies are by far the hottest market sector we’re seeing right now because they don’t have to deal withthe same constraints of the competition like walk-in stores do. It makes no difference to them if there’s a walk-instore down the street. They are making a change in the industry and are accomplishing what most cannot. Thepandemic has certainly accelerated that. THE ADVISOR MAGAZINE | 9Do you have a big win or favourite story so far? Yes, I do. My friend Ike was a first-time liquor store owner. He is a Nigerian immigrant trying to build a life and is avery fair and honest guy. He was someone from the start who I was honest about how he could get the deal doneand what he was capable of, and where we could be lenient and where we had to be firm. I got him a decent volumestore, and he’s on his way to building his business. I was originally reluctant to tell him about this store because Iwasn’t, at the time, confident that he’d be able to close something like that, but it’s a great example of building arelationship with someone and a great story of putting trust in one another. Thanks to an attorney who did a greatjob, and his trusting that the people he was working with were the best, led him to something he really wanted. “Delivery companies are by far thehottest market we’re seeing right nowbecause they don’t have to deal with thesame constraints of the competition likewalk-in stores do. They are making achange in the industry and areaccomplishing what most cannot.” QUESTIONS ABOUT BUYING?Call/Text Ben Jerrom Partner & Buyer SpecialistCell: 413.544.4960Contact Ben Jerrom directly for further details on all of our current listings.“I would not have been able to purchasethe store I wanted if it wasn't for Ben (&his Team). I will go with them every time.”Ike A., Recent BuyerPost-Closing Interview:
OUR FEATURED LISTINGS by Ben Jerrom NEW Listing Charming Wine Shop Full of Potential The store currently offers wine craft beer and tobacco products with a substantial concentration on fine wine providing a range of high end varietals from around the globe The atmosphere is warm inviting customers to peruse their wide selection in this well lit well organized generously sized store Along with the large retail floor the space also contains a full basement for storage needs The current owner who has run the store for six years is open to a first time buyer There is a possibility for a future upgrade to an All Alcoholic Beverages License as well as the option to purchase the real estate allowing a new owner to truly mold the store into his her ultimate vision Norfolk County MA 359 000 Don t miss your opportunity to take this well loved establishment to the next level Call Call For For Details Details Listing Type Store Location Asking Price Package Store License All Alcohol Essex County MA NEW Listing 350 000 Package Store with Full Liquor Essex County MA NEW Call For Info Package Store with Full Liquor Boston MA NEW Listing 385 000 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
T I M E T O C E L E B R A T EAfter months of eating takeout in our houses,it’s time to get out! People feel morecomfortable in social settings with the currentvaccine availability, and they are making up forlost time, frequenting restaurants and bars inhigh numbers.S U P P L Y & D E M A N DCOVID led to the unfortunate closing of manyrestaurants and bars, and without thecustomer base to support them, no one wasreally looking to open anything new either.But the market has recovered quickly, andnow there is a huge demand - - and littlesupply. S T A Y C A T I O N SMany are ready to splurge and treatthemselves after cancelled vacations,celebrations, and other social gatherings thatCOVID prohibited. Returning to favorite eatingand drinking establishments serves as a treatfor most, especially for those who werefinancially impacted due to COVID.N E V E R T O O O L DThe vaccine availability has allowed the olderpopulation to feel at ease in restaurantsettings, and with their generally moredisposable income, they have been a positiveaddition to the market. T H E " G O - T O "Life is beginning to feel normal again, andconsumers are returning to their favoriterestaurants to enjoy their favorite meals, aswell as returning to their trusted drink ofchoice.With COVID finally taking a backseat in mostpeople’s everyday lives, the once strugglingrestaurant and bar scenes are coming back tolife, as patrons are making up for lost time andare hitting up their favorite eating and drinkingestablishments once again. Here are some ofthe trends: by Glenn LawlerT A K I N G A B R E A KBecause consumers are returning to theirreliable adult beverage choices, craft beerhasn’t enjoyed the popularity it did pre-COVID,as it was just taking off as everything wasshutting down. However, with consumers onthe prowl and comfort levels rising, consumerswill begin to experiment with new purchasesagain.G R O W I N G M A R K E THard seltzers and premade, packagedcocktails continue to gain popularity, as theirconsistent nature allows a customer to feelcomfortable with this purchase time and timeagain. The market for these choices has alsogrown rapidly over the recent months. F A C E T O F A C ECustomers are ready for in-person service,and this includes not only frequentingrestaurants and bars, but the desire to orderfood and drinks in person, rather than over thephone or computer.G O I N G O L D S C H O O LKeeping in mind the desire for in-personservice, customers also no longer feel the needto peruse a restaurant menu or cocktail listdigitally, and printed menus are coming backinto play.M A K I N G U P F O R L O S T T I M EThe high demand is not only affectingrestaurant and bar workers, but their suppliersand distributors as well. The industry iscoming together to provide for their returningcustomers, who are coming fast, with moneyto spend and lost time to make up.With the rush back to try to make up for losttime, the biggest hurdle some restaurant andbars owners are facing is having sufficientstaff to serve their customers as they once did.For some, now might just be the right time toconsider making a move in the marketplace.If you'd like to know what the current marketplacewill pay for your on premise license, call/textGlenn's personal cell phone at 617.817.5635
For owners who are not quite ready to sell...If you are on the fence about selling, but not quite there yet,we've compiled our top 5 strategies for setting your store upfor the highest possible return in the quickest amount oftime possible - guaranteed.If you're thinking of doing it yourself, these strategies are amust to having the knowledge of over 20 years and 1500+transactions in your back pocket!Click the button below to get your personal copy and setyourself up for success. You deserve it.
Thinking of selling on your own and don'twant to pay broker fees?Knowing who's in the market for your storeis key to understanding its true value andwhat the market is willing to pay. What owners need to fully understand is notall buyers are created equal. When you know who's in the market andhave a relationship with your local liquorlicense Advisor who only does liquor stores& licenses - you now have leverage andsomeone who can take you across thefinish line.We are here for you. THE ADVISOR MAGAZINE | 13Founder, CEOLiquor License AdvisorD A N N E W C O M Bdnewcomb@llausa.com617-306-1551Click To Play Video:
Did 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.Dan NewcombCEO & FounderBen JerromBuyer SpecialistJennifer MedicoTransactionSpecialistGlenn LawlerSeller SpecialistMichelle HansfordSeller ConciergeNatali WilliamsSpecial ProjectsSherri BeauchampMarketing SpecialistKyle NewcombSales Team Assistant
© Liquor License Advisor 2021, All Rights Reserved Unless Otherwise NotedSpecial Contributions & Acknowledgements:- Features Editor & Editorial Assistant: Natali Williams & Michelle Hansford;- Magazine & Digital Editor: Sherri Beauchamp.THE ADVISOR MAGAZINE | 15Balance & Stability: Emerging From The Pandemic (Pg 3 )1 - CGA's Special Report, COVID -19 Impact On Premise Impact Report for July 2021Top 10 Trends For On Premise: What Pandemic Recovery Looks Like (Pg 11)4 - Ten big trends in the US On Premise recovery. Summary of CGA’s Matthew Crompton and Andrew Hummelprovided a recent Brewbound Data Club webinar with the answers. July 7, 2021 (CGAStrategy.com)5 - Brewbound Data Club: CGA on the State of the On-Premise Channel Webinar. June 16, 2021. (brewbound.com)Gen Z's Impact On Alcohol: Where & How They Are Driving Industry Change (Pg 4-6 )2 - Ten big trends in the US On Premise recovery. Summary of CGA’s Matthew Crompton and Andrew Hummelprovided a recent Brewbound Data Club webinar with the answers. July 7, 2021 (CGAStrategy.com)3 - Brewbound Data Club: CGA on the State of the On-Premise Channel Webinar. June 16, 2021. (brewbound.com)
The Advisor Magazine runs on a monthly basis to keep stakeholders in theliquor store & liquor license industry in the loop.Liquor License AdvisorSuite 1, 2036 Ocean Street Marshfield, MA 02050 781.319.9800www.LiquorLicenseAdvisor.comCome back for Issue #7 which will tell the story of theactual rebound effect from summer sales and return tothe "new" normal.