Student entrepreneurs who sold booze stand to lose--big

Updated

For those of you looking to entertain your entrepreneurial spirit and start your own business while an undergrad -- whether it be to beef up your resume or to fund your alcohol addiction -- you'd be wise to learn from the failures of your predecessors. Otherwise, you may end up facing expenses you can't afford.

Take, for example, the brave founders of CampusDrank.com.

Campus Drank -- an online alcohol delivery service based in Madison, Wisc. -- came under serious legal scrutiny for operating without a liquor license and violating local laws governing the sale and distribution of alcohol. Such laws, according to Assistant City Attorney Jennifer Zilavy, dictate that a face-to-face transaction must take place in a store before a consumer can take possession of alcohol and the company could face fines of up to $500,000. The University of Wisconsin is still determining whether or not they will separately hold the student founders of the company responsible for violating UW policy.

While I find all of the impending legal sanctions a tad overbearing, the Campus Drank founders made some apparent mistakes.

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