As a restaurant owner or even a manager, there are many financial considerations to make in order to maintain your business operations. First of all, you should make sure that you have the right Denver Restaurant Insurance policy. In addition, you should be aware of the legal costs of owning a business. Part of these efforts is determining what licenses you will need to run your establishment. Here are a few basics.
Retail Food Establishment License. Before you can open the doors of your restaurant, you will need this license. It’s a mandatory document that legally grants you the right to run your restaurant in your city and/or state. The Denver Business Licensing Center offers guidelines of just how to maintain this license.
Liquor License. If you plan to serve alcoholic beverages within your establishment, you are required to hold this license. Some of the requirements to obtain this license include completing a Colorado Liquor Retail License application, Sales Tax License, submitting to a background check, and providing your restaurant’s detailed floor plan. It’s important to be aware that applying for and receiving a liquor license can be a lengthy process, typically taking a few months.
Music License. Unlike a liquor or business license, it’s not up to the state or city to grant this license to you. You must procure a music license from one of the three major music royalty organizations. These are; the American Society of Composers, Authors, and Publishers (ASCAP), the Society of European Stage Authors and Composers (SESAC), or Broadcast Music, Inc. Not all music is covered by all three of these groups, so it is recommended to obtain a license from all three in order to avoid copyright infringement. Doing so may help you avoid costly litigation or fines.
At Insurance Centers of America (ICA) we understand the challenges and opportunities that come with opening a restaurant. Our trained professionals can ensure that you maintain the right Denver CO Restaurant Insurance Policy, to protect your business from potential financial losses. Please contact us today at (719) 528- 5400 to learn more about how we can best serve you with our comprehensive Denver Business Insurance policies.