‘Turnover’ in the restaurant business is very high, according to Entrepreneur.com. In fact, you can count on 90 percent failure rate, meaning they will likely close their doors before their fifth year of business.
Obviously, for those unfortunate business owners, one way to counter their losses is to consider selling their restaurant equipment.
As such, when you go to an auction, either on premise or at Lauro Auctioneers, you come with assurances that certain steps were taken by the restaurant owners in offering their equipment for sale:
Best selling condition…
A no-brainer, but the market for used restaurant equipment, particularly when it comes to high-end items like refrigeration and ovens, is competitive. Buyers are looking for only those items in best of selling condition; too, they are also looking at any warranties that may transfer with new ownership.
Value?
The Small Business Association (SBA) notes that merchandise for liquidation is generally fairly priced at 20 percent of retail value—check with an equipment appraiser to get an idea of fair value before you attend or browse an auction site.
The SBA studies also show that, when possible, one of the best locations to sell equipment is on the business’s premises.
And don’t overlook…
Tables. Chairs. These items are often thought not to be of prime value, but buyers may be interested in such items, including the decor of the restaurant.
Restaurant owners looking shopping commercial restaurant equipment auctions are always interested in good deals, but never at the expense of faulty items.
That’s why it makes sense to only do business with auction houses like Lauro, who have been in the business for over 20 years.
Contact us if you’re thinking about buying restaurant equipment at auction and we’ll make sure you get the best value for your money.
