As companies near the end of the year, they want to sell a lot of their old stock. In the new year, although the products are not actually old, they would technically be considered one year older. For this reason, many companies will lower their prices to get rid of older stock.

Businesses, such as catering equipment wholesalers, could mark down their commercial refrigerators, kitchen equipment or seasonal items before they close for the holiday season. This would be the ideal time to capitalize on those bargains. It’s a good idea to save up for those specials early in the year so you’ll be financially prepared come the end of the year.

Preparing for year-end sales requires some preparation.

• You have to do your homework. See what equipment you are waiting to acquire. Check the prices of the different units and keep a record of it. When the year-end specials are on, then you know exactly what you need to buy.
• Sign up for mailing lists. If you want to be the first to know about a sale, sign up for the company’s email newsletter. This way you will receive their latest email newsletters directly to your inbox. You’ll have information about what’s for sale, how much you’ll save, and the length of the sale.
• Save for sales. Keep a separate fund aside that you put a set amount into each month. A savings account that earns interest monthly is a good idea. This way your funds will grow and you will have a little more at the end of the year.
• Decide on a budget. Decide how much you want to spend on a catering equipment sale and stick to the budget. It’s the end of the year, so you don’t want to overspend. You need to think about the new year, overheads and bonuses.
• Delivery or pick up. Decide in advance if you will pay for shipping or if you have a vehicle to pick up the catering equipment. If you opt for a delivery option, be sure to include the cost in your estimate. If you pick up the product yourself, be sure to secure it properly to prevent damage during transit.
• Be realistic. The catering equipment you will buy at a year-end catering equipment sale will not be last rank, it will be last year’s rank, or possibly end-of-rank inventory. However, they will still be new and by no means obsolete, so you don’t have to worry about that.