Tips for Selling & Purchasing Used Equipment
By Gator Chef Restaurant Supply
According to entrepreneur research, 90% of restaurants go out of business before reaching their five-year anniversary. This high amount of restaurant business turnover results in a market for used restaurant equipment. Selling some of your used restaurant equipment is one of the best ways to help recoup some of your losses. At the same time, you may also consider purchasing some used equipment for restaurant expanding or redecoration.
Tips For Selling
- Clean equipment so that it is in the best selling condition.
- Locate equipment manuals and warranties.
- Keep in mind that some warranties may be transferrable to a new owner.
- Determine the fair market price for your equipment. Take into consideration the age and ware of the equipment. According to the Small Business Association, (SBA) liquidated merchandise is normally priced at 20 percent of the retail value. Consult with an equipment appraiser for suggested pricing before you consider any offers.
- Sell it by yourself: target your market and approach similarly typed restaurants that might use similar equipment. For example, a Mexican restaurant might not need your deep fryer, but they might need extra ovens or refrigerator racks. Some smaller equipment might appeal to any restaurant. In this case, you might need to do your own advertising or put it on Craigslist.
- Sell it to a dealer: call restaurant equipment dealers for the used equipment details and discuss the shipping methods.
- The SBA warns that some restaurant equipment loses value if moved to another location, so keep your equipment on the premises for as long as possible.
Tips For Purchasing
You can sign up to our email list for used restaurant equipment updates and get the latest inventory for sale, and even some discounts.
Carefully check the equipment conditions before you purchase.
Make sure the used equipment has an appropriate warranty (usually it is between 60 - 90 days), or you may need to pay a lot of money to fix it when it is out of condition.
Find a local dealer so that you can go to check the equipment by yourself and don't need to pay for the shipping.
About Gator Chef Used Restaurant Equipment - Located in Illinois, Gator Chef sells and buys used restaurant equipment. More than 30 licensed technicians professionally test, clean and restore all used restaurant equipment to meet or exceed all manufacturers' specifications.
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