How to Acquire Financing to Buy Your Florida Liquor License
As a business owner, starting a new venture requires a significant amount of funding from day one. Even after the construction and launch are complete, a steady flow of cash is important for pursuing potential business growth.
So, what do you do when you’re running short on money, but need to secure funding – and fast? And more specifically, when you’re looking for ways to pay for a Florida liquor license, what are your options?
We’re going to take a closer look at how you can take advantage of the opportunity to secure the money you need to get a liquor license quickly and easily. With this helpful guide in hand, you’ll know your next steps for acquiring a liquor license in Florida, and you’ll be ready to act now.
First, Discussing Liquor License Requirements in Florida
If you are just now learning how to get a liquor license in Florida, it’s likely that you’ve already discovered that it can be complicated. With a clearer understanding of the Florida liquor license requirements, as well as the types of licenses available, you can better choose the right option for your business.
According to Florida state law, a license is required for a business to sell beer, wine, and liquor.
There are two primary types of liquor licenses in Florida:
SFS f/k/a SRX License or Restaurant Only License
SFS licenses are designed for facilities that will, in most counties have a minimum of 2,500 s/f, can serve meals to at least 150 guests at a time, with more than half of its gross revenue coming from the sale of non-alcoholic beverages and food. These licenses allow restaurants to serve alcohol for on-site consumption.
Quota licenses are so named because they are issued only by quota increases in population. One new license is made available for each increase of 7,500 residents, which means that no more quota licenses will be issued until the county population increases by 7,500 or more.
A drawing is held to determine which applicants “win” the ability to apply for a new license. However, you are also permitted to buy, finance, or transfer a Florida quota license from an existing holder via a private transaction. (This is where a licensed liquor license broker is highly recommended).
As you can see, owning a Florida quota liquor license is the equivalent of holding something of considerable value. Because licenses are limited – and the demand for them is fairly steady – your FL quota license is an important business asset.
A professional license broker can help you determine which type of FL liquor license you need for your business, and can also guide you through the multi-step process of securing one. Furthermore, should you choose to finance the license, the broker is well-equipped to help you navigate that as well.
Can I Finance a Florida Liquor License?
Yes. In the state of Florida, quota liquor licenses (as defined above) are able to be financed. You can finance the acquisition of an FL liquor license, paying for it over time much as you would for a standard small business loan.
When Should I Finance My Liquor License?
There are a handful of situations in which financing a liquor license is the best-fit option. Both existing businesses and those that have yet to open may be able to benefit from this financing option.
Here are two very common scenarios in which choosing Florida liquor license financing can be a smart business decision:
- A business owner that is planning to open a restaurant or bar may realize that they are running low on cash by the time construction is complete. In this situation, a short- or long-term loan, as well as other financing options, can be a helpful way to acquire a liquor license and begin operations.
- A business owner that is currently operating an establishment may want to begin selling alcohol, as a way to boost revenue and expand the business. However, if capital is not readily available, financing the license may be the ideal route.
The Importance of Partnering with a Professional
Are you feeling somewhat confused about financing a Florida liquor license? You aren’t alone. Not only do you need to find a reputable lender that will provide fair terms for your loan, but you also need to be very precise about completing the process correctly. Additionally, it’s important to select a type of financing that’s suited to your needs and preferences.
For this reason, it is highly recommended that you work with a professional. That way, you can have someone advocating for you every step of the way, as well as knowledgeable support for all necessary preparation and documentation.
Beverage License Specialists is a professional brokerage firm in Florida that specializes in assisting businesses in the process of financing their liquor license (in addition to many other services we provide). Our extensive experience and up-to-date industry knowledge makes us an excellent partner in the financing process. We’ll help match you with the lender and financing option that’s right for you, finding the best liquor license loans in Florida at competitive rates.
Rather than struggle with the headache of attempting the process alone, let us serve as a trusted professional that puts your needs first.
Beverage License Specialists: Experts in Florida Liquor License Requirements
Whether you’re preparing to transfer, sell, finance, or buy a liquor license, navigating the process can be an intimidating experience. Because Florida licensing requirements can be fairly complex, even seasoned entrepreneurs can easily make a misstep.
Beverage License Specialists is a Florida liquor license brokerage firm with over three decades of experience, utilizing our breadth of knowledge and professional resources to simplify the process for business owners around the state.
We’ve spent years mastering the intricacies of state requirements and regulations, making us the ideal partner in your professional venture. From using the collateral of your license to purchase a Florida quota liquor license to getting a business loan with your FL license as a means to free up capital, our team can help you do it all.
Our broad range of services means that we can customize an approach that suits your specific needs, presenting solutions that serve your business and goals. You can be confident that the Beverage License Specialists team is well-equipped to guide you towards successful licensing, cutting down on stress and frustration considerably. Because you benefit from an experienced broker on your side, your risk for error will be dramatically reduced.
For more information about how to finance a FL liquor license, contact Beverage License Specialists today.
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