Saving Investment Money

Businesses in the food industry sometimes can come and go. According to some figures, about 90% of restaurants go out of business in the first five years or so that they’re in. When they do, some would try to recover some of their losses by getting rid of their equipments. 

For those starting new in the business, on the other hand, it doesn’t necessarily mean you need to buy all your equipments spanking new. To keep more money for use in some other areas, you can buy used equipments.

In most cases, buying second hand catering equipment Brisbane is one smart way of saving some of your start-up capital. Brand-new equipment can be very expensive. In buying used equipment, you can still choose the best brands at a lower original price.

 Here are some tips when buying used equipment for use in your establishment.

Equipment condition

Like any astute owner with good common sense, you certainly want to check the condition of everything that you will buy for use in your own kitchen. More important, you need to ensure that the pieces of equipment will work and can give you a longer lifespan than you estimated.

The condition you are looking for includes the provision that all the parts and pieces are there and are in good condition overall. Make sure that you have some kind of a warranty. Usually, these are good for about 60 to 90 days from date of purchase.

Some warranties are transferable to whoever will buy it (the new owner). Better still would be if these equipment still have manuals. 

Market price

For buyers, you need to take into consideration the wear and tear of the used equipment.  Also, it pays to know the ballpark prices of the items at present since it was purchased some time ago.

Typically, liquidated merchandise (including restaurant equipment) is priced at 20% of its regular value. You can also consult an equipment appraiser who can give you suggested pricing.  

Choose local sellers

Finding a local restaurant equipment dealer (or an owner) will enable you to check the equipment before buying. Also, you need not worry on shipping or transport expenses if you can pick them up. 

Likewise, if you have a whole kitchen to outfit, you may be able to buy out an entire kitchen for one price for another savings. You may be able to get a dishwasher, cold storage, stoves, ovens, grills and maybe even plates and cutlery in one substantially lower price than buying these pieces individually. 

Gently-used equipment

Obviously, a product that had been used for a long time has a shorter life span. On the other hand, a product that had been used for a short period has a longer life span. Don’t settle for kitchen equipment that had been used for more than three years.

At auctions, or from dealer of used equipment, you need to ask how many years of regular use had the equipment been used. Getting dealers who can divulge this information to would-be buyers is another story.