The Initial Phone Call: What to Expect When Selling Your Fedex Route With a Broker
If you are selling your FedEx route and looking to get in touch with a broker to assist with the sale, you are in the right place. You are probably wondering what will be discussed during the initial phone call. Below, we outline many of the common questions that take place between route sellers and brokers out of the gate. Some of the questions may seem obvious, but this checklist can help ensure you are prepared.
Location: What state and city are your FedEx routes in.
Financing: Are you willing to offer a potential buyer capital to purchase your route(s). While not an option for all sellers, cutting out the bank can often expedite transactions.
Gross Income: Ideally, you will have your gross income on hand for the past three-plus years. At a minimum, you should have the number for the past calendar year.
Profit: You gross income minus all expenses. This is a number that FedEx route buyers are sure to fixate on when considering a purchase. It is also a critical number to appropriately price your route(s) for sale.
Equipment: An inventory of the trucks and other equipment you currently own/operate to keep the routes humming along. These are the items that will be transferred along with the sale of the route.
Employees: A headcount of people currently on your payroll. Understanding a bit about the experience of your top performers can also be helpful.
Post-Sale Services: When you are selling your FedEx route you should have a good idea of how long you want to stick around after the sale is complete. Some route sellers want an immediate exit, while others are willing to lend weeks or months of training and support to help sweeten the deal.
Reason for Selling: They say if it’s too good to be true it probably is. Potential buyers inevitably ask who the FedEx route seller is walking away from their business….especially if it is profitable. It is helpful to be able to outline your reasons for selling.
When you are selling your FedEx route and working with a broker, it is imperative to provide open and honest answers to these and other questions. Everything you share is held in the strictest confidence and all data is properly secured. A broker will be able to get you the best price for your FedEx routes when you are willing to be forthcoming.
Of course, all of the information above will eventually need to be expanded upon, but coming to the table with this basic information, will allow your route to be listed that much quicker.