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Selling, Buying Used Restaurant Equipment Tips: When Selling Or Buying A Restaurant

Comments & Replies: 2 Views: 6325 Posted By: Joe Ranieri

Contributor: Joe Ranieri, Business Broker: LA, Orange Counties

The restaurant business is a tough business to be in, no one can dispute that, and so it's imperative that an owner's equipment is in good working condition.

A new owner should make sure that the restaurant's equipment is in good working order before they close escrow, because after escrow is closed, dilapidated equipment and costly repairs will come out of their pocket.

A new owner may take possession of the business and later decide to do upgrades to their equipment.

Tips For Selling:

1. Have equipment manuals and warranties (if applicable).

2. Clean the equipment, remove grime and grease as best as possible.

3. Call a restaurant equipment dealer, and especially inquire about their shipping fees.

4. Consider selling it yourself, possibly on craigslist, an ad in a restaurant equipment magazine, putting an ad on a bulletin board at a restaurant supply store.

5. Be realistic about pricing, because restaurants are constantly changing hands or going out of business, and so there could be a lot of equipment on the market at any given time.

Tips For Buying:

1. Contact a local restaurant equipment dealer.

2. Make sure that the equipment is in good working condition before buying.

3. Inquire with the health department to make sure that model of equipment has not recently been flagged and will be okay to put in your store.

4. Receive equipment, if from a dealer, that has at least some limited warranty, like 60-90 days.

Contributor: Shalonda Chappel, Escrow, Bulk Sale Services

This is very true. I had an escrow close and the Seller owned the business for over 20 years. When he purchases the business there were no requirements of having a grease trap in the kitchen and the burners on the commercial stove did not work . The New Buyer has to install and repair, prior to getting a health permit. This delayed the escrow closing for about 3 month. Due to the unexpected expense.

Helpful Resources To Assist In Selling And Buying California Businesses

William F. Ziprick, Attorney: Legal Services For Buyers And Sellers

Through creative problem solving, attention to detail, accessibility, & understanding that unnecessary delay is often a deal killer, I work closely with my clients and other professionals to consistently achieve a high rate of closings. Office: 909-255-8353, Cell: 509-951-7230.

Helen Yoo, New Century Escrow - Escrow Services In Southern California

Helen Yoo at New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.

Shalonda Chappel: Escrow & Bulk Sale Services - Southern California

Escrow services to brokers/agents, sellers, & buyers. Established 43 years. Extraordinary service. Experienced with handling difficult transactions. One stop for all your escrow needs: Bulk sales, lien searches, UCC searches, liquor license transfers, publishing & recording services. 951-808-3972.

Diane Boudreau-Tschetter: Escrow & Bulk Sale Services In California

California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.

Mike Hurrell, Broker: Laundry Specialist - Southern California

Providencia Properties Inc in association with Golden State Laundry Systems is a full service Coin Laundry Real Estate Broker. At GSLS you will receive personalized attention from our professional staff of coin laundry experts. To sell or buy a Southern CA laundromat call Mike at 310-223-2240 X209.

Ryan Clark, The Veld Group, Business Brokerage: Southern California

The Veld Group provides a refreshing approach to Business Brokerage, Mergers & Acquisitions and Business Consulting and Valuations. From Your Street to Wall Street, we cater to Main Street Businesses as well as more complex Strategic Firms and Start-Ups. Phone Ryan, Business Broker at 310-652-8353.

Joe Ranieri, Business Broker: Orange, LA County Areas

Having owned both retail and restaurant businesses for over 20 years, my interest turned to selling businesses rather than owning them. I specialize in Los Angeles & Orange County restaurants, fast food independents and chains, bars, & liquor stores. Call me direct at 714-292-5448 Cell/Text.

Lee Petsas, Business Broker: Southern California Area

Lee Petsas has been selling businesses with UBI Business Brokers in Southern CA since 1981. In 1999 he became the Owner and Broker for UBI. He has been approved multiple times by Courts as an Expert Witness in the area of Business Valuations.

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