Auctionbid has been established for over 25 years bringing big results to the restaurant industry community. Since the begining of the Pandemic, restaurants have struggled to keep its door open. It all started with resauarnts, bars and the food service industry shutting down for different periods of time. The time has passed and many businesses have shut down due to lack of customers. Some businesses have survived but hanging on by a thread. Other reasons the restaurant business is finding it hard to survive is the employee hiring rate. It is extremly hard to hire a new employee with skills and dependability. Many of them come with no experience which created strain on the business. Finally when they are trained the employee starts to create bad habits on showing up on time and being available when you need them.This ends up putting more pressure on the owners in which the service becomes lessened and customer reviews started to become more negative. With rents going up, food cost up and employee work staff declining, many restaurant owners and corporate have failed to meet customer expectations. When all overhead starts to increase and daily business income decreases, the outcome is inevitable will happen. The time comes when ther businees is operating in the RED causing a hard choice to close its doors. When this is the case many businesses have no choice but to go to Auction. When choosing an Auction company, find out how experienced they are in the restaurant industry. Many auctioneers have been around for many years but don’t have the expericence and don’t produce the right results. Always take in to consideration the amount of restaurant auctions they have had and results totaled. All in all Auctions serve as a last ditch effort to monetize its inventory and assets. Auctionbid along with its afilliate company have been auctioning off restaurants, bakeries, deli’s, fastfood, hotels for over 25 years.

Michael Grosso