How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 114076
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
10285032
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

We are thinking of purchasing a hard liquor license for the

This answer was rated:

We are thinking of purchasing a hard liquor license for the following reason: Our friend owns a restaurant that currently has a wine & beer license. They cannot afford to purchase a hard liquor license. My question is this: if we purchase the license what would be an appropriate financial agreement with the business owner regarding how we would be compensated for the cost of obtaining the license? Would we receive a portion of the liquor sales (i.e %age) and how much would be fair to both parties. We would like to own the license so if the business fails, we have "something of value" We are in California in Placer County
Thanks for your help. We realize there is much more to the process, but right now we need some idea of appropriate investment return to us.
Generally this is done by written contract where you would receive usually 5%-10% of gross sales from liquor and the contract would state you retain ownership of the liquor license.


I hope you found my answer helpful, please click on the GREEN ACCEPT button above for my answer (EVEN IF YOU ARE A SUBSCRIPTION MEMBER). This is necessary for me to be paid for my work and so that I can get credit for assisting you. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!

Please remember this is a dialog if you have follow up questions please use the REPLY button and ask. If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.

PLEASE NOTE WELL: IF YOU CLICK OPT OUT I CANNOT REPLY TO YOUR FOLLOW UP QUESTIONS AND YOU MAY NEVER GET ANY REPLY OR IT WILL DELAY MY ABILITY TO REPLY TO YOU. Also, if you use RELIST, I MAY NOT SEE YOUR RESPONSE AND IT WILL DELAY YOUR REPLY.

You can always request me through my profile at http://www.justanswer.com/profile.aspx?PF=10285032&FID=39 or beginning your question with “For PaulMJD…”

YOU CAN ALSO GO TO http://www.justanswer.com/lp/19qy-PaulMJD and request me.

Law Educator, Esq. and 5 other Business Law Specialists are ready to help you