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We are thinking of purchasing a hard liquor license for the

following reason: Our friend...
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.
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Answered in 7 minutes by:
12/2/2010
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 121,085
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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.


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Category: Business Law
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Experience: All corporate law, including non-profits and charitable fraternal organizations.
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