Are you looking to get rid of surplus equipment?
Like most businesses, yours is changing. One day, your company may need 20 hydraulic lifts. The next, they may only need 15. You can understand how it’s challenging to figure out what to do with surplus equipment as your business shrinks.
Don’t panic. There are plenty of great ways to reuse or repurpose obsolete machinery. Keep reading for the top things you should do with excess equipment.
Using Online Auctions
Using online auctions can provide a great alternative to throwing away or disposing of them. Online auctions are a convenient and profitable way to liquidate excess inventory to a much broader buyer base. Besides running a traditional auction style, businesses can also choose to list a “Buy Now” option with a set price for their equipment.
View this page before putting any surplus equipment up for auction. They should also research the item to get an understanding of what comparable items have sold for and set a fair market price.
Determine if It Can Be Upgraded
If you have surplus machinery in your facility, determining if it can be upgraded should be your first course of action. Investigate what types of upgrades are available, what costs they entail, and the most cost-efficient way to take advantage of those upgrades. For instance, if it’s a computer, determine if you can add more memory or RAM for a small cost.
You might also look into upgrading the software you are using or look at fewer costly alternatives to maximize the equipment. It also could be as simple as refurbishing the existing item: maybe it only needs a fresh coat of paint or some additional cleaning or tweaking. If that doesn’t work, then you might look at replacing the equipment altogether.
Donating the Equipment
Donating the equipment will allow someone else to use it, which will benefit them and you. You can contact local charities, schools, or businesses that may have use for the equipment and donate it at no cost to them. This is a great way to give back to your community while also unloading equipment you no longer need.
You may even choose to donate the industrial equipment to a third-world country to give them access to the technology they may not have access to otherwise. Donating surplus equipment will also help you free up valuable resources, such as money and space.
Selling the Equipment
By selling your surplus equipment, there are a few things you should do. First, research the equipment to find its fair market value. You should also clean up and test the sold equipment to ensure that it is in good working order for potential buyers. Next, create a detailed description of the equipment, so buyers know what they are getting.
Afterward, list the equipment for sale either online or in print. Consider setting a deadline for buyers so you can spread the word about the sale. Take and share pictures of the equipment to show buyers its appearance and condition.
Consider These Tips on How to Git Rid of Your Surplus Equipment
Your surplus equipment should be put to good use! Donate it to a non-profit or charitable organization and help those in need, or recycle the items to reduce their environmental impact. Whatever you choose, be sure to start today. Take action now and make a difference in your community!
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