When you are paying $250k-$1mil up front for a liquor license your prices are already including a recoup for the upfront cost(s), so I’m not sure the current proposed model would lead to increased prices vs. current prices. The biggest thing is the state is now going to line it’s pockets by this.
Let’s have some fun!!
Current NJ population $ 8.9mil say $ 9million
Number of license per population 1 per 3,000
9 million / 3,000 = 3,000 approximate number of broad C (full service) liquor license currently in NJ.
3,000 X $ 7500 per year = $ 22,500,000 per year
3,000 X $10k per year = $ 30,000,000 per year
avg = $ 26,250,000 per year additional revenue for New Jersey
There is the state’s motivation for this…
