The price of a NY liquor license varies depending on the kind of license you require, where your establishment is located, and the size of your business. A variety of licenses are available from the New York State Liquor Authority (NYSLA), including on-premises licenses for bars and restaurants, off-premises licenses for liquor stores, and manufacturing licenses for wineries, distilleries, and brewers.
On-premises licenses, which permit the sale of beer, wine, and spirits for consumption on the premises, are the most prevalent kind of license. Depending on where the establishment is located, the fee of this license varies. Depending on the venue’s size, the cost of an on-premises license in New York City can range from $4,352 to $64,000. The cost varies across the state, from $960 to $4,352.
Off-premises licenses are less expensive and allow the sale of beer, wine, and spirits for consumption elsewhere. An off-premises license in New York City costs between $4,352 and $8,904. The price in other regions of the state ranges from $96 to $960.
There are alternative choices if you want to invest in alcohol but don’t want to start a bar or restaurant. Anheuser-Busch InBev and Diageo are two examples of publicly traded corporations that produce or distribute alcohol. Exchange-traded funds (ETFs) with a focus on the alcohol sector, such as the Consumer Staples Select Sector SPDR Fund (XLP), are another option for investing.
Depending on the location and size of the establishment, starting a liquor store in Texas might be expensive. Generally, the cost to start a liquor store in Texas ranges from $50,000 to $200,000. Included in this is the price of a liquor license, which varies from $1,000 to $13,000 based on the size of the city or county where the store is situated.
Wine stores can be successful ventures if they are properly run and situated. Industry analysts estimate that a profitable wine shop might bring in between $500,000 and $1 million annually. Wine stores must invest a lot of money in equipment and merchandise, and their profit margins might be thin.
In conclusion, the price of a liquor license in New York in 2021 varies based on the license’s kind, location, and size. There are various alternatives available if you’re interested in investing in alcohol, including publicly traded corporations and ETFs. A liquor license will set you back between $50,000 and $200,000 when starting a liquor store in Texas. Wine shops can be successful ventures, but they need to make large inventory and equipment investments.