LIQUOR LICENSE BROKERS IN ORLANDO, FL
Getting Started With Liquor License Agents In Orlando, FL
Why do I need to hire professionals to help me buy or sell a liquor license for my business? We collaborate and advise all stakeholders from the establishment owners to higher level franchise developers and attorneys, at any level of the acquisition process. When buying or selling a liquor license, it is essential to be working with the correct purchase agreement. Otherwise you are bound to experience the pitfalls that this business is notorious for. While possible to do alone — Negotiating a purchase agreement that fairly protects both parties requires careful consideration and experience. Your purchase agreement should clearly state:
- The location of your establishment and your license number
- The purchase and sell agreement, outlining all properties involved (i.e. liquor license, liquor and related stock, furniture, building, etc)
- The total purchase price to be paid by purchaser, itemized by property
- Bill of Sale/ escrow outlining how the money will be handled and deposited
- Settlements of accounts as well as time of settlement
- Purchaser’s warranty
- Legalities such as disapproval of failure, risk of loss, binding effects, and arbitration
Avoid Costly Mistakes
The alcoholic beverage industry is governed by complex regulations and framework, varying by state. Partnering with a professional liquor license broker in Orlando, Fl will keep you from costly, yet avoidable mistakes. These mistakes often lie in the business licensing, permitting, and regulatory compliance. Something as simple as the seller using the buyer’s newly acquired license during the post closing process, unless otherwise stated in the agreement, can lead to enforcement action taken upon the buyer and seller.
Mediate Between Buyers and Sellers
A professional liquor license broker is not only invaluable for their knowledge of local and state regulation, but also for their ability to mediate and expedite the buying/selling process between both parties. From partnering with the seller to find a motivated and qualified buyer, to signing the papers, the liquor license brokers at Liquor License Professionals will ensure that both parties are receiving what they are entitled to as quickly and efficiently as possible.
Facilitate the Transfer Process
Upon closing, the brokers at Liquor License Professionals will ensure that the new ownership is properly documented, all fees from both parties are satisfied, and a transfer application packet is properly filled out and submitted to the Florida Department of Business and Professional Regulation.
The procedure associated in and during a sale deal involving a Florida Liquor License can be very complex, and can contain several possible risks and unintended challenges for either the buyer or the seller. Most of those issues occurred when buyers and/or sellers wanted to go at it alone without a broker ~ OR ~ they opted to go for the wrong broker.
- First – you need the best kind of Purchase Agreement to deal with. Generally, this is a by-product of excellent experience. Such an Agreement must protect both parties accurately and promptly: the Seller and the Buyer. Each party should get exactly what they are entitled to, and the Agreement itself should detail the necessary steps, timelines, and closing procedures accurately.
- The Seller wants to know that he or she will not necessarily have the license listed for any extended or unspecified time span. Before conducting any documents, the Seller wants to realize that execution by a skilled and driven Buyer is inevitable and a Seller may claim a prompt response to being able to negotiate with another prospective Buyer.
- The buyer must also know that he or she has “locked-in” a license that will be available and secured by the promised closing date.
- The Seller needs to know they work only with a motivated and capable buyer. The Buyer’s submission of an Earnest Money Deposit serves to ensure that the Buyer is committed to the transaction and is at risk if it fails to close as required by the Agreement.
- After Closing, the buyer must then know that he or she will have the necessary experience on their side to properly assist the buyer in submitting the Transfer Application packet to AB&T as necessary. The Buyer must know that they have an experienced ally working for them through completion of the transfer process and beyond when necessary or necessary.
Liquor License Professionals offers a choice of loan options to Clients, working to meet their needs and business goals.