Listing your FedEx route for sale can be stressful. While maybe you know a guy who knows a guy who might be interested, how do you know if that person can get financing? What if they don’t pass the FedEx background check or have issues with their driving record?
It only takes a couple of times trying to figure out of your friend’s ex-brother-in-law is the right buyer for you to understand the value of hiring a route broker. But why should you? Well here are 5 reasons to list your FedEx Ground Route with a route broker.
A Route Broker will Save You Time
The firs is that a route broker will save you time. Selling a route (just like your experience buying one) can be a part time job in and of itself, and you still have to run and manage your routes and perform all of your other daily tasks. The search for a buyer, taking out ads, answering messages, and figuring out if a buyer is eligible to purchase a route can all take huge chunks of time.
But a route broker handles those things every single day. They’ll do them more efficiently than you can, and they won’t waste time doing it.
A FedEx Ground Route Broker Knows Where to Find Buyers
Finding the right buyer can be really tricky. Where do you even start looking? You could look at other route owners looking to expand, drivers who might want to become owners, but then what? The other aspect to that is because a driver is qualified to drive doesn’t mean they have the financial resources and financing to purchase a route.
When it comes to other route owners, there are rules to how many routes one contractor can own in a single station and they will still need to have the financial resources or financing to take on another route. They might also need to hire a new driver, are more likely to bring their own equipment (leaving you to sell yours separately on the open market), and other factors.
For you, finding a buyer might be a challenge. For a route broker, it’s simply what they do.
You’ll Find Better, Well-Qualified Potential Buyers
It’s not enough to just find a buyer. You need to find the right buyer, and there are several criteria they need to meet.
- They need to have money or financing to buy your route and the associated equipment that goes with it (in most cases).
- They need to pass the FedEx background check.
- They’ll need to have a good driving record and be able to pass the rigorous FedEx driver training program.
- They’ll need to be prepared to own and run a route, and to spend time in training, time they may not be paid for.
The most common issue is financing, and that alone disqualifies many of those looking to purchase a route. However, other unforeseen issues can come up in the background check or with driving issues.
A route broker knows what questions to ask to determine if a potential buyer is likely to be qualified.
You’ll Know What Paperwork You Need
Like buying a house, buying a route involves a lot of paperwork. But so does selling one. The buyer will want to see bank statements, profit and loss statements, tax returns, and more. Essentially, they are doing due diligence to see if you are actually making money with your route, and that you are making as much as you have told them you are.
This is for their protection and yours. They want to ensure that they will be able to continually run the route profitably. You will be asked to certify that what you have told them about your route is true, and you don’t want to even accidentally not reveal something the buyer reasonably needs to know.
A route broker will know the paperwork you need, help you gather it, and will be able to guide you in how you answer buyer questions and at what stage of the buying process.
A Route Broker will be with You at Closing Time
Finally, if you have ever purchased a house, you know that closing can be a hectic and stressful time for buyers and sellers. The process of closing on a route is similar with some unique parts to it. A route broker will guide you through the process and will ensure that everything is set up to go smoothly from start to finish.
This is because they have knowledge you do not, and the experience to go with it. A route broker will be with you every step of the selling process.
Conclusion
A route broker is an essential part of the FedEx Route buying or selling process. They know where to find buyers, and the right buyers. They save you time, money, and effort. If you are ready to sell your FedEx Ground route, contact us at Route Advisors today. We’ll be with you every step of the way.