How Long Does it Take to Sell My FedEx Routes?
When entrepreneurs decide it is time to sell their delivery business, one of the first questions they are likely to ask is how long will it take to sell FedEx routes. After all, there are undoubtedly reasons as to why they have decided to sell.
Independent Service Providers must be prepared to embrace the unknown, as the route selling process is comprised of a multitude of variables. However, there are several factors that you, the route owner, can control.
1) Documentation: The better shape your accounting is in, the more likely your route will sell faster than the competition. You will want to gather any and all information you would want to know as a buyer. You might not have to share every detail, but as the Boy Scouts say: Be prepared.
2) Your A-Team: Know in advance who you are using to represent your legal and accounting needs. We have seen some FedEx sellers make the mistake of recruiting these essential roles when a sale is imminent, and by then, it’s often too late to scout out the best talent.
3) FedEx Approval: Remember, if your prospective buyer does not clear the FedEx approval hurdles, the entire sales transaction will go up in smoke. In order to expedite the sales process, sellers should be prepared to assist the buyer with forming a new corporation, understanding ISP guidelines, drafting a business plan, etc.
4) Time Your Sale: The busiest time of year for package deliveries is no secret. Try to avoid seeking FedEx approval during the last two months of the year, as this can slow the process down considerable — even, possibly, pushing it into the following year.
The path your seller takes to seek funding is also a major factor in how long it will take to sell FedEx routes. The bank process can take weeks or months, while seller-based financing and cash transactions can expedite the sale exponentially.
This is why a broker should be a part of your FedEx routes for sale plan. With in-depth knowledge of the nuances and idiosyncrasies of buying or selling FedEx routes, a broker can likely sell your route faster, secure you more money, keep your personal data safer, and make sure the transaction goes smoothly from start to finish. A good broker will likely already have suitable and qualified buyers lined up for your routes — before you even post them publically.
Timing is everything in life. Do what you can to put yourself in the best position to succeed. The unknown is always lurking, but do yourself a favor and come to the table organized and prepared when it is time to sell your FedEx routes.