Opening a restaurant frequently requires purchasing a significant amount of commercial equipment. This translates into a large outlay of capital before you even serve your first customer. While leasing is one alternative for getting restaurant equipment without needing to invest loads of upfront capital, buying is almost always a more economical financial decision because of the long-term costs and potential tax deductions.
However, for cash-strapped restaurant owners, there is often insufficient capital to buy the latest, most innovative equipment. This doesn’t necessarily indicate that purchasing is out of reach. Instead, it just may require just a small amount of sleuthing and comparison shopping to hunt down the right things at a reasonable price. These places are often where it is possible to find those concealed, inexpensive gems to get your restaurant cooking whilst still remaining within your budget.
Restaurants Going Out Of Business
According to many industry studies, almost a quarter of all Fresh restaurants typically neglect from the first year. This usually means there is plenty of restaurant owners around who are selling their equipment to cover their losses. One of the best approaches to snap up affordable restaurant equipment is to keep your finger on the heartbeat of your regional competitors. If a neighborhood café, pizza store, or fine dining institution appears to be failing, it may be the right time to make an offer in their kitchen equipment. Not only will you be pleasantly surprised by the price which you’re able to get, but you might also make a new friend in the industry and source some new employees, too.
Obviously, not every single restaurant owner who’s shutting a business wants to work directly with new small business owners. Many will use auction providers, like Main Auction Services, to liquidate assets that they no longer need. The advantages of purchasing equipment in an auction is the supplier will provide comprehensive identification of each product, and an evaluation of current quality, together with overseeing the sale. In some cases, the supplier will even coordinate the delivery of these items for your restaurant. In the auction, you may pay a marginally higher price for equipment, but you’ll typically find prices to be well below those of fresh items.
Some auction service providers offer online inventories and valuations, along with the ability to get assets across the nation. Additionally, there are often bulk sales to sell off large inventories to a single purchaser at a discounted price.
Damaged Appliance Sellers
Are you searching for new appliances like refrigerators and ovens at a discount? One option is to check out the open box, scratched, dented, closeout and discontinued inventory in stores catering to the restaurant industry, as well as in large box retailers like Best Buy and Costco. Often the prices are slashed in half or longer, and since these things are a new product, they will be under warranty.
Most people think about their neighbor’s garage sale as the place to pick up some used paperback books and maybe a tennis racket. Yet, with many companies being managed from home offices, it’s not uncommon to discover a photocopier, a computer monitor, or a functioning adding machine sitting on someone’s front yard. It’s been known to occur for restaurateurs to sell their used kitchen equipment by their garage. If you’re in the market for used restaurant equipment, make it a habit to check out weekend garage sale ads in the local newspaper and on Craigslist.
Hotels, resorts, chain restaurants, and bigger retailers often donate outdated or damaged equipment to non-profit resellers like Habitat for Humanity ReStores. It’s not uncommon to find commercial sinks, work tables, dishwashing equipment, and even dining room tables and chairs which can be purchased at a fraction of their original price. Not only does the donator of the items get a tax break for giving away these items, but your purchase also goes to help those in need, making it a win-win for everyone involved.
Need Capital to Purchase Your Restaurant Equipment?
Whether you’re just entering the restaurant industry, want to make improvements to an existing location or you are working in your growth plans, capital is needed to purchase equipment. Whenever you don’t have a supply of ready cash, it might be the ideal time to discover a lender that you may work with.
Banks do offer small business loans, however, they are frequently working with restaurants because of the high failure rate in the industry. Additional choices? Using credit cards to purchase large ticket items like appliances can show you in debt that you’ll be paying off for several decades.
As the number one provider of restaurant supply stores in Tusla, Manin Auction Services provides restaurant owners the ability to trusted the working place to buy equipment when they want it. Buying is fast and get it now. We are a family-owned business in auctions featuring used and new commercial restaurant, bar and bakery equipment. We have more than 35 years of connected experience in the restaurant, foodservice, and related industries to the internet sales marketplace. Our company is one of the best and professional restaurant equipment provider in Grand Prairie and Irving. We supply a wide variety of quality, new and used restaurant equipment, kitchen supplies, appliances, furniture, and decor. Our staff is experienced and knowledgeable in the auction industry and business management. You can visit our stores in Grand Prairie and Irving for buying or selling restaurant equipment.
Main Auction Services, Inc. is a family owned and operated company bringing more than 35 years of combined experience in the restaurant, food service and related industries to the internet sales marketplace. Main Auction Services offers a wide variety of quality, new and used restaurant equipment, kitchen supplies, appliances, furniture and decor.