- What do you have? A complete detailed inventory is not necessary, but you should at least be able to list the larger pieces (ovens, mixers, refrigeration, furniture, ranges), the manufacturer or brand of the items, the condition of the items and the approximate age of the items. If you can also provide model numbers and serial numbers, this information is always helpful.
- What price will you accept for the entire lot? There are many websites that specialize in selling or auctioning food service equipment (one example is http://www.aacbid.com/). Research the realized prices for items similar to yours. Know your audience. A dealer who must be able to make a profit when reselling the items will obviously pay less than an individual who is buying the items to use.
- How quickly would you like to sell your items? The quickest method for getting the equipment out of your space, and the money in your pocket, is to contact a dealer who specializes in pre-owned restaurant equipment. Dealers can provide you with a quote, remove the items, and write you a check on the spot. Auction houses that specialize in restaurant equipment can maximize your profit, but the trade-off is a longer time between removal of the items, and receiving your money. Listing your items for sale to individuals can be the most time-consuming option of all.
Once you have considered these three questions, you will be ready to negotiate a successful sale, generate some cash flow, and open up some of that much-needed garage space!
