The Best Time to Buy a FedEx Ground Route

There is all kinds of advice out there about when the best time to buy a business is. But the truth is, there is no best time to buy a FedEx Ground Route or any other business. There’s only the perfect time for you.

“Realistically, it’s not about timing—it’s about you,” says entrepreneurial guru Brian Scudamore. “Only you have the power to create your own success story, and that takes a certain type of person. It takes grit, it takes guts, but most of all, it takes vision. You have to be all in, and you have to really see the big picture.”

If you have the vision to see yourself in the delivery business and you are prepared to start that journey right away, there isn’t a better time to buy than now. But what does that really mean?

Developing A Business Buying Plan

A business buying plan is different than your business plan once you purchase a business. There are several questions you should ask yourself.

Why is now the best time to buy a FedEx Ground route for you? What events have brought you to this point?
How much delivery experience do you have? Do you need more before you get started?
Are you passionate about the delivery and logistics industry? Why?
What is your primary objective in buying a FedEx Ground route?

Once you can answer these basic questions, you are ready to move forward with some additional planning and questions. It’s important to revisit these often. Your why is the most important reason to own a business, and if you remain focused on that, it helps you stay motivated throughout the life of your business.

Having a Business Plan

The next key is to develop a business plan. Fortunately, with a FedEx Ground route, this is fairly simple. Hundreds of thousands of other route owners have preceded you, and there is no need to reinvent the wheel. There are business plan templates you can follow that will help you keep things on track.

A good business plan will do more than that for you though. It will help you develop cashflow plans, set up the insurance you will need, and ensure your delivery business is a successful one. But it provides another benefit as well.

A good business plan can help you when it comes to financing. Even for a business as straightforward as a FedEx Ground route, any lender is going to want to know that you have a business plan, and they will want to examine it. A part of this is simply ensuring that you know what you are doing in the industry. They are risking their money based on your ability to make a FedEx Ground route profitable, and they want to see that you are prepared.

A business plan does just that, and it reveals the ways that you have financially prepared for route ownership.

Being Financially Prepared

That leads to the next key. For it to truly be the best time to buy a FedEx Ground route for you, you will need to be financially prepared. This goes beyond just the cost of the route itself and any equipment that goes with it. It also means making sure you are adequately insured, that you have cashflow for the first few months of operations and that you have an emergency fund in case things go wrong.

There are other things you can do as well. Make a plan to save money on fuel and join rewards programs. Have a line of credit or a credit card you will only use for mechanical emergencies. Essentially ensure that you can continue operating your route even if things were to go wrong just like you would with any other business.

Have questions about what other things you might need to plan for financially? Talk to your route broker for advice. They can help you ensure you are truly ready to buy a FedEx Ground route now.

Being Mentally Prepared

Just like when you change jobs or if you were to purchase any other business, there is always a period of learning and adjustment. You’ll need to adopt new routines, spend extra time getting to know your route and your regular business customers, and adjust to driving your truck every day.

A FedEx Ground route is physically and mentally demanding, especially at first. Be sure you and your family and those close to you are mentally prepared for the initial toll of the break-in period, and the adjustment to a different schedule and routine.

Before you buy any business, you need to be mentally prepared for what that means, and buying a FedEx Ground route is no exception.