If you have 1000 piece of equipment or if you think it is cool to have linked models sure.
If not place in the same model on workset which is open in only the plan view for food service. That reduces the load and lag you are worried about.
Template for the family: which to use depends on how you want the behavior. GENERIC would be my first choice considering their advantage with respect to view range. A more complex would be to mix specialty equipment nested as shared into a generic. This will give you the best of both categories. Scheduling as specialty equipment and visibility as generic.
Template for the linked project: Also depends on the visibilty behavior you expect when linking to your model. Food Service equipment fall under Architectural hence I would suggest using Architectural. If you use a Mechanical Template they would be half toned.
PS: Keep in mind, people need 1 less model to manage. Image every discipline want their furniture in a linked model 🙂