Does FedEx Provide Training for New Contractors?
As an aspiring route owner, you may have heard that FedEx does not require route owners to have direct logistics experience. This means you are welcome to buy a FedEx route even if you’re new to the industry. With that said, you might wonder if FedEx offers training for new contractors.
How do route owners learn how to operate the business?
FedEx doesn’t provide formal training for new contractors. Instead, the selling contractor usually trains the new owner during a post-sale transition period.
In general, after a sale is officially closed, the previous owner will stay on and help train the new owner for a period of 2 to 4 weeks. This allows the seller to introduce the new owner to the drivers, service providers, and nuances of the business. It also enables the incoming contractor to ask questions as daily duties are performed.
Depending on the size and complexity of the business, this transition period may extend longer than four weeks. Regardless of the transition period, it is vitally important for both buyer and seller to have a clear understanding of what the transition will entail so that expectations are mutually aligned. This will allow the new owner to prepare accordingly. An experienced FedEx broker, such as KR Capital, can ensure that these terms are clearly outlined in advance.
In addition to receiving seller training, new contractors can consult their terminal manager for assistance and support.
The extent of seller training will be discussed prior to sale.
To make sure both parties are on the same page, the details of seller training should be established in the purchase agreement. This document is drafted after the due diligence phase has been completed. If you have any concerns about the training process, be sure to express them before signing the purchase agreement.
It’s wise to work with an experienced deal attorney when drafting this document – ideally one with experience in FedEx deals. A FedEx-specific broker can help guide you on how much training you will likely need based on your experience and routes you are purchasing.
KR Capital Brokers Fedex Routes for Sale
If you’re ready to become the proud owner of a FedEx route, contact KR Capital. With nearly a decade of experience, we have an in-depth understanding of the FedEx sales process. This has allowed us to seamlessly execute hundreds of sales throughout the country. Contact us at (503) 664-0753 or complete our buyer info request form to learn more.
