FedEx Routes: Read This Before You Decide to Sell
When it comes to FedEx routes, one of the most popular questions custom critical contractors often hear: “is buying a FedEx route a good investment?” The answer is often, a resounding yes, but with a caveat: The business will succeed as much as you are willing to work at it. The bottom line is that FedEx routes can be deeply rewarding to run, but also a challenge, requiring nimble thinking and hard work.
However, there comes a time in every independent business owners life when the decision needs to be made to continue working, or, cash in on the equity that the business has earned. If you are thinking of selling your FedEx routes, answer the questions below to make sure you are making the right decision.
Is Your Business Ready to Sell?
One of the biggest mistakes sellers of FedEx routes can make is to list their business for sale without doing the needed prep to sell. Potential sellers will likely run in the other direction if you have not done your pre-sale preparation. All financial documentation and paperwork should be in order. Plus, owners should take some time to reacquaint themselves with the daily operations of the business. Pretend you are in the buyer’s seat and be ready for anything. In today’s data-driven world, you will want to have your stats prepped and vetted.
Is Your Decision Emotional?
You have likely heard the axiom, “never go to bed angry.” The same is true when it comes to business: never make a money/major life decision that is based purely on emotion. More often than not, logic rules the day when it comes to business decisions. If you have decided it is time to sell your FedEx routes, you should likely “sleep on it.” Be one-hundred percent certain that you are ready to move on and that the choice you are making is with a clear mind and open heart.
What Will the Market Dictate?
Let’s be honest, some factors in business (and life!) are out of your control. Just like when you first bought your FedEx routes and wondered, “is buying a FedEx route a good investment,” the answer can determine when you are buying/selling. While FedEx businesses have shown serious growth potential for several consecutive decades, you will want to time your sale to put the most money in your pocket. This is one of the reasons to consider a broker to help sell your routes,
Am I Willing to Stay on the Payroll?
With your in-depth business knowledge of the FedEx route business, there is a chance that a potential buyer will want to keep you on the payroll, even though you are no longer an owner. This is a question you should ask yourself before listing your routes for sale. Do some serious soul searching to avoid the pressure and stress of having to make a time-sensitive decision.
Look for a Partner?
Sometimes business owners are still very optimistic about the future of their FedEx routes, but no longer have the time or energy to devote to the business. In situations like this, it may not be time to sell your routes, but instead, time to look for a co-owner. Splitting up ownership duties is an attractive option for many business owners, as it brings in an additional voice, and of course, half the work and half responsibility, albeit, at half the profit.
Is Your Heart Still In It?
We talked earlier about making business decisions sans emotion, however, to be a successful route owner, it is imperative to have your heart in the game. If you are feeling dread for an extended period of time when it comes to work, it might be time to list your FedEx routes for sale. We all need to put the effort in to conjure up motivation from time to time. If you need to put in a lot of work to get excited, then you should consider a change.
The only predictable thing about life is that it is unpredictable. You very well may be in a completely different state of mind than when you first purchased your FedEx routes. If unforeseen events have sent you down different paths, it may be time to list your routes for sale.
Selling a business can be one of the hardest decision you will have to make during your lifetime. It is also a very personal decision. Please make sure you have taken the time to consider all options before listing your FedEx routes for sale.