When restaurants or other establishments acquire a liquor license, it’s usually for one purpose: to serve alcohol. And while that’s the main benefit of having a liquor license, there are other advantages as well, particularly in Illinois.
Here are five advantages of having a liquor license in Illinois:
This is the obvious benefit for obtaining a liquor license. The ability to serve alcohol encourages your customers to arrive at your establishment earlier for some pre-dinner cocktails and it also gives them a reason to stay for an extra drink or two after they’ve finished their meal. The average check increases by at least 25 percent in establishments that serve alcohol compared to ones that do not. That’s a significant amount of revenue you’re losing by not serving alcohol!
Running a restaurant or bar can get expensive. But that’s where a liquor license can help. The average profit margins on alcohol are around 20 to 40 percent. That’s a low-cost way to increase revenue for your business, which will help you become more profitable! This increase in profits can help offset other costs to your business – like hiring new staff, renovations, or another improvements!
Possessing a liquor license can help provide new marketing opportunities that your business would not have without one. For instance, you could hold a beer or wine tasting event at your establishment, or a number of other liquor-based events to drive up your foot traffic. Your establishment could also become more attractive for events if people know they’ll be allowed to consume alcohol at your location. Having a liquor license simply provides more opportunities to your business that would not be there otherwise.
Avoid Negative Reviews
Most people expect a restaurant to serve alcohol, so if someone goes to your restaurant for the first time and you don’t have a liquor license, they may be disappointed. This could lead them to leaving a negative review about you online. Obtaining a liquor license and serving alcohol will help you meet all your customers’ expectations and needs and hopefully lead to more positive reviews.
Under Illinois law, businesses (other than truck stops) are required to have an on-premises liquor license in order to qualify to add video gaming to their establishment. Video gaming can provide an additional revenue stream to your business to help increase your profits. However, you need to have a liquor license before the State will even consider allowing you to add slot machines.
Want to learn more about getting your liquor license in Illinois? Check out our guide here.