A California liquor license in San Francisco used to be a hot commodity. In one of the state’s most competitive bar and restaurant cities, the ability to sell booze was a major selling point for owners and operators. But these days, the price of those licenses has dropped dramatically. Liquo r license broker Cameron DeRuosi said the prices have come down because some businesses are closing and selling them at a loss. DeRuosi said that’s happening for a few reasons, including increases in labor, liability and food costs. “We were at about $250,000 net to seller back in 2022, and today we’re around $100,000,” DeRuosi said. “I’ve seen sales as low at $70,000 to $85,000.” According to state tax and fee data, people also seem to be buying less beer and wine. In fiscal year 2024, those sales dropped to their lowest levels since the 1960s. Still, operators like Bar 49 owner Colm O’Brien said a drop in the cost of a liquor license creates some opportunity despite the other challenges. “I think it’s positive for the neighborhood and the city going forward because it allows a younger generation, people with more creativity to get their hands on a license and open a space,” he said. NBC Bay Area’s Sergio Quintana has more in the video report above. ...read more read less