It is costly to open a restaurant and can take time to make a profit. You can save money by buying used equipment rather than new ones. These are seven reasons to buy used equipment instead of new.
It saves money
You may not have a lot of money or enough to purchase everything you need when starting your business. You will need equipment as well as insurance, employees, rent, and food. You can save a lot of money by purchasing used equipment for your restaurant or bar instead of spending a large portion of your startup capital on expensive, new equipment. It’s possible to still find top-of-the-line brands if you take your time and shop smart. Although these pieces are older than new, they cost a fraction of what you would pay for newer items.
You Can Haggle
You should expect to pay full price for anything you buy new. There is some room for negotiation when purchasing used items. Before you buy, improve your negotiation skills. Try negotiating a lower price instead of agreeing to the advertised price. Most sellers will openly negotiate a price, particularly if there isn’t enough room.
You may be eligible for free items
There is nothing better than receiving a free item, but you will rarely receive one when you purchase new. However, you can get free items when purchasing used items. To qualify for a free item you will need to purchase a lot of items from one vendor. The free items may be smaller than the ones that are included (don’t expect to get a freezer), but they’re still worth something and can be used elsewhere.
The Equipment is Good
You have done all the research and come up with a great idea for a restaurant. Not everyone is able to do the work necessary to keep their business afloat. About 30 percent of foodservice businesses fail to make it beyond the first year. This is a sad fact for the restaurant owners, but it opens up a great opportunity for you. Reselling gently-used items can help these restaurants recover some of their lost revenue. These items are in excellent condition and some have a warranty.
The Appliances are Durable
Durable items last. You want appliances that last. Equipment and appliances that are weak or fragile won’t be able to last long enough to be resold. They have poor-quality parts that can’t withstand the test of time. Don’t spend more money or the same amount on equipment of an unknown brand. Stick with trusted, established brands.
There is less depreciation
The worst is depreciation. This is most commonly associated with cars but it can also be applied to other things, such as real estate. The depreciation rate of new items is faster than that of used items. Because they are newer models, they have higher prices. You won’t lose as much money if you buy used items, but you can upgrade or sell it because you don’t use them.
It’s easy to find used equipment
It is easy to find used equipment. It doesn’t take long to find someone who has closed their business or is renovating their equipment. Many online shops sell used restaurant equipment. It is easy to find everything you need in one place.
It’s a smart move to buy used equipment for your new restaurant business. Although the equipment is often as good as new equipment, it costs less and depreciates faster. Contact us for more information on used or new commercial restaurant equipment. We will help you save money.