Business partners Arnold and James ask about the pros and cons of used restaurant equipment.
We are getting ready to open a new restaurant in a few weeks and just got cleared for financing from the bank. Now we are starting to buy equipment for the restaurant kitchen. However, we are having trouble agreeing on the type of equipment that we should buy. I (Arnold)say we should buy as much used equipment as we can, to save money for all the other start-up costs. James says we should buy new, because it comes with a warranty and if we buy used we will end up spending more on fixing the equipment, down the road or replacing it all together. What should we do?
Arnold and James
Check out my answer here.