When it comes to equipment sales, you may have used equipment sit for months, even years, before you can finally sell it. That comes as quite a financial loss to you, especially if you are buying all new equipment for your factory and are still paying off the old equipment. The following techniques may help you profit on the equipment while you wait to sell it. The techniques may even help you sell the equipment faster than you would have with advertising alone.
Promote "Try Before You Buy"
Reaching out to other manufacturers is a good start, but they may not have the money to buy your used equipment outright, or they may be reluctant to buy it without being able to test it out. With a little legal help, you can set up rental leases that would allow you to make a little money on the equipment before it is sold. Other manufacturers can rent the used equipment from you under set terms with an option to buy it at the end of the rental term previously agreed upon. If and when you still have to pay on the used equipment, you can continue making the payments using the rental payments you receive from other companies.
First Half up Front, Second Half Later
Manufacturing and industrial equipment is expensive. There is no doubt about that, even where used equipment is concerned. If you can work out an arrangement, consider asking for half the sale price up front, and then in six to twelve months, the other half of the cost of the equipment sold. This not only helps you sell it sooner, but helps fledgling companies get started. Most of them are trying to figure out how to afford their equipment, and this helps out both of you.
Factory auctions are a big deal. The auction house you work with will promote your auction in every way possible, for a price. That said, you could, at the very least, sell a ton of stuff, pay the auction house's fees and the auctioneer, and be done with everything. Most of these auctions draw crowds from factories all over your state, and some people from even farther away. The best part is that there is absolutely no haggling about the price, and whoever buys your used equipment has to haul it away themselves.
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3 March 2017
After I inherited my parents manufacturing business, I realized that there were a few challenges that they hadn't addressed earlier on in their careers. For starters, the company was missing several safety protocols that I knew could help to fend off injuries and accidents. I started focusing on bringing things up to modern code, but it didn't come without its share of challenges. I wanted to make this blog to help people to know how to identify and resolve challenges that could cause problems in the long run. Read more about this topic on this blog filled with great content about manufacturing.