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    A Step-By-Step Guide to Closing Your Restaurant in an Organized Way

    Last updated 2 years ago

    Whether it’s by choice or financial necessity, closing a restaurant is a difficult process. It’s hard enough dealing with the emotions of shutting down such a personal operation without having to figure what to do with leftover equipment and furniture. Here is a step-by-step guide to help make the process a little easier. 

    1. Inform your customers

    The moment you decide to close your restaurant, you should put up notices in your windows, inside your menus, and verbally inform your customers. This will help ease the shock of customers who enjoy your food on a regular basis. Also, your customers may be more loyal than you think—you could find that they tell their friends about your restaurant or otherwise take it upon themselves to keep you in business

    2. Terminate lease

    If the closing of your restaurant is inevitable, then the next step would be to inform the owners of your building that you would like to terminate your lease. It’s important that you wait until your current lease has expired, as most property owners will charge you for terminating early. If you own the property wherein you run your restaurant, then you may want to start looking for a buyer. 

    3. Auction off equipment

    Lastly, there’s the matter of equipment—tables, chairs, ovens, refrigerator, and much more—that no longer has a use. Instead of taking a loss by donating all of your restaurant’s equipment, contact your local auctioneer.  You’ll be surprised at the prices you can fetch. The extra cash can help you toward whatever future endeavors you have planned.

    If you’re looking to auction off your restaurant’s used equipment, then contact us at Lauro Auctioneers. We have a total of 50,000 sq. ft. of auction space and showrooms, so no matter how much equipment you need sold, we have the room. Are you planning an estate auction or a business liquidation sale? If so, then give us a call at (954) 376-5945 to maximize your net profits. 

    Take a Look at These Resources if You've Enjoyed Our Recent Posts

    Last updated 2 years ago

    Looking for more information about the topics addressed in our recent posts? Read through the following resources for more details on the advantages of live and online auctions for both buyers and sellers. 

    • Looking for a general guide to online auctions? See the Online Auctions Guide and learn more about how auctions work, payment options, and tips for consumers. 
    • To learn more about e-payments and how to safely and responsibly set up an online payment account with any of the several services available today, try the Federal Trade Commission’s Consumer’s Guide to E-Payments
    • Would you like to learn more about liquidation sales? Check out this eHow.com post and get a general definition, as well as an overview of the various types of liquidation sales. 
    • Want more tips on how to bid at an auction? See DEAauctions.com’s list of auction tips and learn how to successfully bid in person and online. 
    • For the inexperienced consumer, visit MSN Money’s Home Loan Centre and read more about How to win at auction.

    Gordon Ramsay's Restaurant Tips

    Last updated 2 years ago

    It’s no picnic running a successful restaurant, but according to Gordon Ramsay, it is possible. In this video, Ramsay goes over the five essential elements of establishing and maintaining a lucrative and prosperous restaurant. If you are looking to open a restaurant or having troubling keeping your existing food business open, then follow the tips from this video. 

    One essential element to any successful restaurant is quality equipment. If you are looking for affordable, high-quality equipment for your restaurant, then call Lauro Auctioneers for information on our upcoming auctions.  We can also help you auction off your business and restaurant equipment. We specialize in auctions and liquidation sales, so call (954) 376-5945 today or visit our website for more information.

    Buying Restaurant Equipment in Florida: How You Can Benefit from Buying Liquidated Items

    Last updated 2 years ago

    For those unfamiliar with the concept of “liquidation,” the term describes a process by which a business or retail seller will sell slightly older products at reduced prices to make way for newer stock.

    In addition to some of the obvious benefits this process provides to the seller (added space, brand identity, etc.) there are also clear advantages for the attentive consumer—read on for more details. 

    Bulk Products at Reduced Prices

    Because the products the retailer or business is selling are slightly older, they are typically auctioned off at a price lower than retail. Customers willing to compromise slightly on the maxim of “newest is best” will be able to purchase high-end, branded products from manufacturers, major department stores, catalog companies, or bankrupt businesses at a clearance price. This becomes especially beneficial to buyers looking to bid on quality equipment or furnishings in bulk (for example, restaurant owners or startup businesses on a budget). And once you have made enough purchases of this kind, it becomes relatively easy to spot sellers that set the fairest prices and have access to the best merchandise. Yiu may even be able to make some new contacts in your line of business!

    Check Before You Buy

    Though many consumers may be initially leery of buying liquidated products in bulk, it is important to realize that most auction companies will assess any products or equipment before that merchandise is made available to bidders for sale. Furthermore, most auction companies (online or otherwise) allow users to contract their own technicians to examine equipment or perform their own independent inspections before committing to a purchase.

    If you’d like to learn more about liquidation sales and how you as a consumer might take advantage of purchasing clearance items via online or live auctions, call us at (954) 376-5945. You can use our website as a resource for more information about the auctioning process, and to get more details about the types of products and property we typically handle.

     

     

    New and Used Restaurant Equipment in Ft. Lauderdale: 4 Benefits of Auctioning Online

    Last updated 2 years ago

    As Internet use continues to grow and Internet purchasing becomes increasingly popular among consumers, the concept of online auctioning becomes more and more attractive to liquidators and private sellers.

    But what exactly are the benefits of online auctioning? Read through the following list of advantages to learn more:

     1.      Global Buyers

    Through online auctioning, sellers have access to a much larger and more diverse population of bidders (especially now that social media has become so dominant among Internet users). As such, they can expand marketing efforts beyond a specific locale, and (depending on the product itself) raise prices based on consequent increases in demand.

    2.      Expansive Showcasing

    Online auctions allow sellers to showcase entire collections of furniture or equipment via links to multi-page portfolios or additional Web pages. Consumers who may have been wary about buying an entire collection of equipment without first seeing each product included will feel much more secure about making a bid.

    3.      Elimination of Transportation/Storage Costs

    Inherent in the above advantage are savings in transportation and storage costs. While live auctions require sellers to finance both in order to place a product in view of bidders, online auctions rely on digitally uploaded photographs that cost the seller no more than the price of a camera and Internet/cable fees.

    4.      Digital Payment

    Once the online bidding process is concluded, payment is taken care of with a few clicks of the mouse. While most live auctions require bidders to pay in cash, to be brought on the day of sale, this more efficient method allows buyers to pay with a credit card or other Internet account system (like Paypal) which instantly transfers funds into the seller’s account.

    Want to know more about the online auctioning process and how you as a seller might benefit? Contact us at Lauro Auctioneers by calling (954) 376-5945. We are a family-owned auctioning company with experience in both live and Internet auctions, and can answer any questions you have about setting up an online profile for yourself or your business, and how to make a successful sale online.

     

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