Used Restaurant Equipment: Is it Worth It?
Whether you’re investing money into a new restaurant or one you’ve had for decades, installing new restaurant equipment can be extremely costly. Some business owners are hesitant to invest in used equipment due to the potential risk of equipment being damaged or not having the capacity to work as efficiently as new equipment. However, there are many benefits to choosing the alternative used restaurant equipment, most notably price.
Here are the benefits of going the used route:
Drastic Price Difference
New restaurant equipment might be shiny and new, but it comes at a hefty price. The resale value of restaurant equipment is significantly less than the ticket price, even after just a few uses. Compromising on “newness” can save you hundreds if not thousands of dollars on equipment that, for all intents and purposes, is almost like new. Buying used equipment will leave more money in your business’s budget for other things like food or liquor ordering, payroll, marketing, or insurance.
Minimal Wear and Tear
Most resold restaurant equipment is like-new. Because the restaurant industry is difficult, many young businesses don’t see it to the end of their first fiscal year, leaving their equipment nearly like new. Doing background research on where your used restaurant equipment came from before you bought it can help you have a better idea of the volume and the intensity with which the equipment was used. Have some peace of mind and potentially save on technical troubles in the future with this information.
Also, keeping an eye out of for wear and tear signs such a rust, dents, or missing parts is a good indication of what the equipment has been through and whether or not it’s worth the investment. Some used restaurant equipment might still be new enough that it carries its original manufacturer’s warranty as well.
Used restaurant equipment is almost always sold by the original owner or at an auction. This means that more often than not, they just want to liquidate the equipment as soon as possible and are more lenient on price. Going with an auction, or buying directly from the seller, may give you more wiggle room in terms of price and, eventually, save you even more money than you originally intended.
When buying new equipment, you can expect to face a rapid depreciation in value within the first year. This means that you pay a hefty sticker price, only to find that you make next to nothing in comparison to the resale value, even after just a few uses. This is why it is better to be the used buyer than to sell; you are on the better receiving end of the item’s depreciation in value. Some buyers think that the location of used equipment matters when searching for restaurant equipment near me, but, when working with GatorChef, location is no longer a factor.
When shopping for used items, there is always a wider selection of options than the handful of new models available at the current time. Having your pick of models one, two, three, or however many years old gives you more variability in brand, accessories, newness, and price. This availability of options may help you find the perfect fit for your kitchen or restaurant without having to pay elevated prices.
There are various benefits of investing in used restaurant equipment. From price to the wider variety of options, if you do proper research you may just be able to find the perfect equipment you need at a great deal. Have you ever wondered “where can I find quality used Restaurant Equipment Near Me?” To find a wide array of used and consignment restaurant equipment, along with a wide array of brand new restaurant equipment, visit GatorChef.com today!