Food-related businesses are complex and ever-evolving as they try to keep up with the changing desires of consumers. In the last few years alone, a greater desire for organic, gluten-free, and fresh foods has forced restaurants, grocery stores and convenience stores to adjust. As a result, lenders and appraisers have had to adjust as well.

According to an article titled, “Fast-Changing Food Industry Poses Challenges For Asset-Based Lenders, Experts Write,” both lenders and appraisers have to be careful when it comes to food-related businesses and know how the business will handle a liquidation. Equipment that displays food can have different values depending on the type of store that houses it. Restaurant equipment can have different values in different restaurants depending on a whole host of different factors, such as the cost to take equipment out of the building in order to sell it.

The bottom line is that when it comes to appraising, experience is crucial. Appraisers need to have knowledge about market trends and about different uses for different pieces of equipment. They have to know how to ask the right questions. A certified machinery and equipment appraiser is a well-trained individual experienced in appraising a variety of different types of equipment. If you have specific appraising needs, find a certified appraiser in your area.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute