Will Your Retirement Home Have A Liquor License? Choose Wisely.
on 28/12/13 at 1:33 pmBooze News
Many new and soon-to-be retirees will have to consider that very question as they ponder where and how they plan to spend their retirement years. Serving beer, wine, and even top-shelf liquor in continuing care communities and retirement communities appears to be a growing trend. In fact, the Massachusetts House recently gave initial approval to a bill that would allow municipalities to grant liquor licenses to these facilities. However, this concept isn’t completely new. A quick web search revealed similar legislative action dating back to 2002.
Deciding on a dry retirement home or one that serves booze adds to the list of questions and situations retirees will need to consider, and which won’t be as simple as the topic may initially suggest. Undoubtedly, bingo would be more interesting, and dinner conversations more dynamic with a Gin Rickey or dessert style Sauterne but, beyond happy hour specials and the occasional champagne brunch, how much extra would a stocked bar cost residents … and could this trend equate to a good investment opportunity?
From a pure numbers perspective, the global alcoholic drinks industry is expected to exceed $1 trillion in 2014, with market volume predicted to reach almost 210 billion liters, a 10% increase in five years (source: MarketLine). Furthermore, a National Health Interview Survey suggests that the drinking patterns of those aged 60 and older is robust and that, for many, drinking takes place on a regular basis. Specifically, the data suggest 50% of the men polled, and 39% of the women, were almost daily drinkers … with 5.9% of all men and 0.9% of all women reporting binge drinking once a month or more.