Tips to Get Your Business Ready to Sell
Interested in selling your FedEx route and moving on? Buying a FedEx route may have been your way into bundling your own business, but now it’s time to retire, to move on, or to try something new. What can you do to get your FedEx routes ready to sell? Here are some handy tips to initiate the process.
Check Your Calendar
FedEx definitely has periods of time where they are busier than others. That’s why professionals in the field suggest selling your route no later than August (due to the uptick in business that can occur from October onwards). When you time your sale right, you can also ensure that you get the most for your route, based on historical data. If you have had a good year, now is the time to sell.
Timing Is Everything
The reason above points to another very important consideration. FedEx routes are typically valued and sold based on historical data. That means that if you had a great year, your route is now super valuable. On the other hand, if the year hasn’t been as good to you as you might have opened, or your route is still fairly new, buyers might not be ready to buy. That’s why it is a good idea to get your route ready to sell by having a great year.
Evaluate Your Assets
Especially with a busy route that performs well, a buyer is going to want to know that they are buying into a sturdy business with strong leadership. If they are buying your route, they are also buying all of your assets – as well as your people. You need to ensure that your vehicles are up to snuff and that you can trust your employees to do a good job. If anything, this can make your route even more attractive (which will show in your performance).
Know When It’s Time
The best tip that we can give to know whether you are ready to sell, is to know when it’s time to sell your route at all. If you feel like you can still work your route, or hire someone to help you, you might be better off holding onto that asset and either working remotely or putting a few more years into your business.
Ensure that you know it’s time to sell, and then prepare for your sale with the above tips. If you have put in the work to build your business properly, chances are it will sell for the dollar amount of your dreams.