THE INFORMATION CONTAINED HEREIN IS STRICTLY INFORMATIONAL.
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Call me to discuss the town in which you would like to locate. I identify the license and negotiate the price. Once fully negotiated, I create a Letter of Intent (LOI) with all pertinent business terms. Both buyer and seller sign the LOI. This document is NON-BINDING. It is meant to memorialize the business terms of both parties. This document is then turned over to an attorney, buyer's or seller's, to create the contract of sale.
Prices of licenses are subject to market conditions. Many factors affect the values of licenses, and since the number of license for sale varies at any point in time, the values can fluctuate both up and down by significant amounts. My transactional knowledge of the market can give you up to the moment pricing information.
I perform appraisals for Banks, values for Estates, and testify in Lawsuits as to values.
2. What role does the ATTORNEY play in my NJ liquor license transaction?
3. I want to open a New Jersey restaurant, which NJ liquor license do I need?
You will need a plenary retail consumption license, a/k/a "33" or a Broad C a/k/a "32".
See 2009 blog for definitions.
4. I want to open a retail store selling package goods by the 6-pack or fifth of alcohol.
Which NJ liquor license can I use?
The Broad C 32 NJ liquor license allows the sale provided the store has a bar area.
The distribution 44 is the package store NJ liquor license. Beer, wine and hard liquor can only be sold by the container, not by the glass.
5. How long does the transfer of a New Jersey Liquor License take?
It truly depends on the town. As short as 4 months, sometimes one year.
6. Can I place a my New Jersey liquor license anywhere in town?
There are 566 towns in New Jersey. Each one has rules about where you can place a license. Some say, not within 500 feet of a school, church or other license holder. Another has a 1500 foot rule. Your attorney will help you with the radius restrictions. Make sure you understand the rules prior to buying the license.
7. Can I use my New Jersey Liquor License in any other New Jersey town?
8. What is a pocketed or inactive New Jersey Liquor License?
In order to obtain a special ruling, the licensee must file a verified petition. Among other items of information, the verified petition must set forth how long the license has been inactive; the reason for the inactivity; efforts made to activate the license; the prognosis for activation; and previous petitions made by the licensee. It is within the Director's discretion whether to grant the relief sought. Although there is no limit to the number of special rulings that the Director may make with respect to any one license, the longer the license is inactive, the less the probability that the Director will grant the petition and issue a special order.
Typically, the Director will issue a special ruling for the first verified petition for a period of two years. Thereafter, special rulings will be granted on an annual basis. Usually, but not always, that the Director will usually grant the first and second petitions for relief. Thereafter, the Director's willingness to grant further special rulings for renewals will depend on the efforts being made to place the license and/or the reasons for the inability to place the license.
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