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Related Blog Posts

Liquor License Update – 2014

Jeremy Williams : February 23, 2014 12:09 pm : All, Commercial, Market Trends

Full Report of Missoula Liquor License value:

In the last two years we have seen a dramatic change in the landscape of Missoula’s restaurant industry.  Several years of stagnate growth finally let loose to fast change.  New breweries such as Tamarack, Lakeside, and Draught Works paved the way for the Top Hat, Plunk and others.  In the last two years, new life has been restored to Missoula’s downtown with expansion heading south.

Much of the growth can be attributed to the cost of getting into business.  Coupled with real estate being at an all-time low and liquor license values being half of what they were at the high, entrepreneurs captured an opportunity – an opportunity that gives them a chance of success when typical cost are so high it is hard to make it past the second year.

So what is the true value of a Missoula city all beverage and gaming license?

There are several things to consider when looking at historical values for a Missoula license:

  1. Was real estate transferred with the sale? If the license was transferred with real estate, the buyer and seller can allocate values to each asset. When the value is allocated by the buyer, the recorded sales price of the license can be skewed.
  2. What type of license was purchased? There are several types of liquor licenses available from cabaret to full liquor and gaming.
  3. Can the license be transferred or is it attached to a property?

For the purpose of discussion we are going to focus on the City of Missoula all-liquor and gaming license. Like many markets, Missoula liquor license values are directly related to supply and demand.

Click here to see Missoula area taverns, bars and casinos currently on the market.

 

Missoula Liquor Licesnse - Wililams & Associates

Missoula Liquor License – Williams & Associates

The graph illustrates how high demand for Missoula liquor license starting in 2007- 2008 drove down the inventory and pushed the price to a high of $1,000,000 in September of 2008. A changing market opened up the supply in 2010 and slowly reduced the prices. Today’s average price is around $625,000.  2013 had the highest volume of sales out of any year in the last 8 years.

Missoula All Beverage and Gaming

Average sales prices indicate that the values of Missoula liquor license are rebounding from a low in 2010. This year is showing low inventory so look for this trend to continue.

This graph shows the sales prices for liquor licenses sold since 2006. The low price of $300,000 is an example of how values can be allocated to reflect different prices. In this situation it may not reflect a true sales price and should be considered an outlier.

Overview: The value of a Missoula liquor license is established because it is a scarce commodity and they are not issuing any more. Even when prices were pressured down due to supply in 2010, there were only 5-6 available at any given time. So when prices are down it only takes 1,2 or 3 sales before they become scarce again. At the high in 2009, buyers most likely had to convince a seller to sell because there were none on the market. Any time you are dealing with scarce resources with small numbers of supply there can be a big upside.

Our Recommendation: BUY

Click here to see Missoula area taverns, bars and casinos currently on the market.

Call for more information on available liquor licenses not currently on the market.

Jeremy Williams
Windermere Commercial Department
406-532-7919
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Lolo Creek Steak House – Lolo, MT

Jeremy Williams : September 30, 2013 2:41 pm : Commercial

Montana Steak House For Sale!

Premiere Montana Steakhouse! Lolo Creek Steakhouse has a reputation both locally and nationally as one of Montana’s premier steakhouses. The log cabin-style restaurant is conveniently located on US Highway 12, approximately ¼ mile east of the center of town on approximately 1.38 acres. Family owned and operated, years of hard work and dedication to the perfect dining experience has led to exceptional growth in business over the last seven years, making Lolo Creek Steakhouse THE place to go for true Montana fare enjoyed in true Montana style. A shining example of what a Montana steakhouse should be, the restaurant has been featured on the Food Network as a top steakhouse in the country and recently won the 2013 Missoula’s Choice Award for best steak. The restaurant has a full liquor license and furniture, fixtures, and equipment are included in the sale, including its legendary wood-fired grill.

Lolo Creek Steakhouse is an excellent opportunity if you’re looking for an investment that has a long-standing, loyal local and national customer base with a far-reaching reputation for quality that generates strong cash flow that support the investment. Financing options are available so please call listing agent for additional details.

Click Here for More Information.

Jeremy Williams
Windermere Real Estate / Williams & Associates
jeremyw@windermere.com

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Missoula Liquor License – Value?

admin : April 21, 2012 8:33 pm : All, Commercial

It seems to be one of the main discussion points with commercial real estate, “Is there a liquor license included?” I hear that question asked more than probably any other when dealing with downtown Missoula commercial properties, and rightfully so. ”Liquor License” was such a buzz word in the past decade as they skyrocketed in value and diminished in supply. Everyone was intrigued by it whether they knew real estate or not. Like many topics of interest, there is also a lot of misinformation going around.

So what is the true value of a Missoula city all beverage and gaming license?

There are several things to consider when looking at historical values for a Missoula license:

  1. Was real estate transferred with the sale? If the license was transferred with real estate, the buyer and seller can allocate values to each asset. When the value is allocated by the buyer, the recorded sales price of the license can be skewed.
  2. What type of license was purchased? There are several types of liquor licenses available from cabaret to full liquor and gaming.
  3. Can the license be transferred or is it attached to a property?

For the purpose of discussion we are going to focus on City of Missoula all liquor and gaming license. Like many markets, Missoula liquor license values are directly related to supply and demand.

Click here to see Missoula area taverns, bars and casinos currently on the market.

 

Chart: Missoula Liquor Licence Sales (All Beverage)

The graph illustrates how high demand for Missoula liquor license starting in 2007- 2008 drove down the inventory and pushed the price to a high of $1,000,000 in September of 2008. A changing market opened up the supply in 2010 and slowly reduced the prices. Today’s average price is around $695,000. However, with low inventory we could see those prices start to rebound.

 

Chart: Total Sales (All Beverage)

Total volume of sales for Missoula all beverage and gaming license.

 

Chart: Average Sales Price (All Beverage)

Average sales prices indicate that the values of Missoula liquor license are rebounding from a low in 2010. This year is showing low inventory so look for this trend to continue.

Chart: Missoula Liquor Licences - Sales Trend (All Beverage)

This graph shows the sales prices for liquor licenses sold since 2006. The low price of $300,000 is an example of how values can be allocated to reflect different prices. In this situation it may not reflect a true sales price and should be considered an outlier.

Overview: The value of a Missoula liquor license is established because it is a scarce commodity and they are not issuing any more. Even when prices were pressured down due to supply in 2010, there was only 5-6 available at any given time. So when prices are down it only takes 1,2 or 3 sales before they become scarce again. At the high in 2009, the buyers most likely had to convince a seller to sell because there were none on the market. Any time you are dealing with scarce resources with small numbers of supply there is a big upside.

Our Recommendation: BUY

 

Click here to see Missoula area taverns, bars and gaming currently on the market.

Call for more information on available liquor licenses not currently on the market.

Jeremy Williams / Devin Khoury
Windermere Commercial Department
406-541-6550
1 Comment »