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Simplesteps
Level 2

Need to sell equipment from old business

I closed a business in 2011 and I have the equipment in storage since then. I am paying for storage and would like to stop that as soon as possible. Not sure were to start to get rid of that equipment. It's worth some money and I don't have the time to sell them. Any ideas?

5 Comments
ReneeJ
Level 2

Need to sell equipment from old business

Are there any other businesses that do the same kind of work still active in your community? Maybe they would be interested buyers in your equipment? 

EmilyCowan
Level 7

Need to sell equipment from old business

Hey @Simplesteps - a warm welcome to QB Community :smileyhappy:

 

Seven years is a long time to pay for storage. I totally get that time is of the essence here! Have you done much research into the local market, as @ReneeJ suggests? It may not take as long to find a buyer as you think.

 

But even if it takes some extra legwork to line up a buyer, you have to balance that against the cost of storage. Do you want to keep paying for storage? If not, your choices are sell, donate, or recycle. If you can find a buyer you'll be able to recover at least some of your storage fees. If you can donate the items, you may be able to get a tax write-off but it will likely take you just as much time to find a recipient - and you could be on the hook for delivery as well. Trash/recycle and you take a complete loss on the storage fees you've paid so far. 

 

What sort of items are we talking about? Office supply, industrial, novelty?

Simplesteps
Level 2

Need to sell equipment from old business

Hi Renee! Thanks for your response. Yes, there are other businesses, but they use different brands. They are franchises and usually get stuck with a certain brand, not the ones I have. These are frozen yogurt machines. And I have other equipment too like sneeze guards and a cold drop in unit.

Simplesteps
Level 2

Need to sell equipment from old business

Hi Emily, thanks for your reply. There are 3 frozen yogurt machines, sneeze guards and a cold drop in unit. I have tried to sell them but no luck. I am trying facebook Marketplace now. I have tried Craiglist before. I just need to get rid of them and hopefully grt some money out of them. I wonder if there is a service were people take care of the selling for a commission. I went through a couple pretty bad family situations that prevented me from focusing on getting rid of all in that storage.

EmilyCowan
Level 7

Need to sell equipment from old business

Yeah, that's a tough one! I wonder if the manufacturer has a takeback program or offers guidance on second life/repurposing? You're probably not the first customer faced with this dilemma, right?

 

I'm sorry to hear about the family stuff. I think that's a huge issue for small business/self-employed - when personal issues arise there is no one else to pick up the slack. 

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