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    Cheers? The price of a liquor license is soaring

    Posted on June 18, 2015 by pbimultiplex in Business, News.

    A side-effect of the ongoing restaurant boom in Philadelphia: The price of a liquor license is skyrocketing. Licenses that two years ago sold for $85,000 are now priced at nearly $120,000, according to lawyers who specialize in the transactions.Compare that to 2002, when they sold for $35,000. Many restaurateurs consider a liquor license to be essential, as alcohol sales are far more profitable than food. Liquor licenses are governed by the state Liquor Control Board but are sold by restaurateurs on the open market through lawyers or brokers, and that’s where basic economics comes in. There are simply no licenses available, according to three local lawyers who specialize in liquor […]

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