Offices and companies have a large amount of furniture in the form of cubicles, desks, chairs, sofas, etc. and they cost a lot of money. After a few times, the company may decide to remove the existing furniture and replace it with a new one to redesign the office or give it a whole new look. Businesses may also want to get rid of furniture if business is winding down or business is coming to an end. The merger of two businesses also results in the rendering of a significant amount of furniture unusable.
Keeping unused inventory wastes a lot of space and is also taxable, so businesses better do something about it.
What can companies do with old furniture?
A company can get rid of furniture by throwing it away, donating it, or selling it to some new company.
- Throw away: If the furniture is still in working condition, then throwing it away is not a good idea. It is true that the value of wood decreases over time, but it still has an important value that can be useful to recover part of the investment that the company made in the purchase of furniture.
- Furniture donation: This can be seen as a charity and provides some tax benefits. But a lot of times other businesses, even new ones, don’t want to feel like they’re dependent on someone else’s charity, so they don’t want donated furniture.
- Furniture sale: The sale of the furniture can be carried out by the company itself or through a furniture liquidator. If the company decides to do the business itself, they will have to save some time and shipping costs to finalize the deal. Settlement companies, on the other hand, take care of all the moving and shipping processes and also provide a better deal compared to what the companies can get on their own. Liquidation companies also have cubature trucks that make it easy to transport furniture. It is true that companies will not gain any tax benefits from selling, but the value they will gain will far exceed the tax benefits.
What are the benefits for buyers?
Strong, durable woods don’t come cheaper, and buying new office furniture can take a big chunk out of your budget. Buying cheap used furniture can help businesses, especially small and new ones, save a lot of money.
Additionally, new and custom furniture takes at least six to eight weeks to deliver. This time can be saved by purchasing used furniture from a closeout company.
Environmental benefits: If the furniture can still be used, throwing it away is certainly not good from an environmental point of view. Plus, buying new furniture means more wood cutting. Furniture clearance can save the environment by piling less necessities in landfills and by avoiding cutting down trees.
