Restaurant and Food Processing Equipment Appraisals
There are reasons both good and bad for a restaurant to need its equipment values determined by a professional appraiser. Sometimes it’s because the entire franchise is being sold to a larger corporation and expanding, which means that proper restaurant equipment values have to be determined for each location. Sometimes it’s much simpler, in that a single restaurant is going out of business and will sell the building and everything it includes to another person. Food processing equipment appraisals are also imperative if one partner in the business is leaving and selling to another. In all of these circumstances, proper used equipment values must be determined.
If you’re in the restaurant industry, you know that restaurant equipment isn’t cheap. Stoves, ovens, broilers, hoods, and everything else in a restaurant has to hold up to extreme use for hours a day, meaning that you’re not just dealing with disposable assets that lose their value immediately. When a business is sold, it’s important that the restaurant equipment values are properly determined so that the proper fair market value is assigned.
CMEA Can Help
Capital Machinery and Equipment Appraisal (CMEA) are certified appraisers who can properly determine the value of every piece of equipment in a restaurant, from ranges to food processing equipment values. We have extensive knowledge of used equipment values when it comes to restaurants and are ready to help you create a true valuation of your business. Why might a restaurant need to have their equipment appraised?
- Sale – Whether the business is growing and going public, or closing up shop and being sold for parts, we will determine fair market value for the equipment.
- Partner Leaving – If one partner is buying out another, restaurant equipment values are necessary to get a fair price established.
- Donations – If you get a new kitchen appliance and are donating the old one to a soup kitchen, our valuation of the equipment will hold up to audit scrutiny.
- Divorce – A restaurant co-owned by a divorcing couple must be appraised to properly value the assets.
- Estate Planning – When creating legal trusts and wills, the proper used equipment values must be established.
- Collateral – When a loan is applied for with a financial institution, the existing tangible assets might be needed as collateral. Establishing the value of those assets can help secure the loan.
Some restaurant owners might think “can’t I just look up the value of the equipment?” Unfortunately, book values are often out of date and don’t take into account the wear that a particular piece of used equipment might have experienced. There’s also no certification involved unless you use an expert, and our certifications hold up in court.
Desktop Appraisals Available
We’re more than happy to fly anywhere in the world to perform our restaurant equipment valuations. But we also realize that not every budget allows for Certified Machinery and Equipment Appraisers to be flown in and boarded. That’s why we also offer desktop appraisals, a type of online equipment appraisal that lets us give our professional opinion on restaurant equipment values remotely. Let us know if you believe this type of appraisal will work better for you.
Whether you need restaurant equipment appraisals for one restaurant or 100, CMEA is ready to provide expert certification. No matter why you need a food processing equipment appraisal, we’re ready to give you the best around and will proudly sign our name to the valuation. Get the process started today!