Questions to Consider Before You Decide to Sell Your FedEx Routes
Owning and operating a FedEx route business can be deeply rewarding, provided you are willing to work hard and put in the time and effort. However, there may come a time when you decide you want to sell your FedEx routes and cash in on the equity your business has earned. Before you do, consider the questions below to make sure you are making the right decision.
Is your business ready to sell?
One of the biggest mistakes FedEx route sellers make is to list their business for sale without doing any pre-sale preparation; this is a sure way to get potential buyers to run in the other direction. In addition to getting all of your paperwork and financial documentation in order, 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?
Major life decisions—especially the decision to sell a business—should never be based purely on emotion. Perhaps you had a bad day (or even a bad week), or something happened in your life outside of your business that made you think it might be time to sell. Do yourself a favor and wait a week or two for things to settle down before you move forward with your decision. Be 100 percent certain that you are ready to move on, and that the choice you are making is being made with a clear mind and an open heart.
What will the market dictate?
As in life, some factors in business are out of your control. Just like when you first started out and wondered if buying FedEx routes was a good investment, the current market will help you determine whether or not now is a good time to sell those routes. 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 working with a broker to help sell your routes.
Are you willing to stay on the payroll?
With your in-depth 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.
Is it time to look for a partner?
Sometimes business owners are still very optimistic about the future of their FedEx routes, but they no longer have the time or energy to devote to the business. In situations like this, the better option may be to look for a partner or co-owner instead of selling your routes. Splitting up ownership duties is an attractive option for many business owners, as it allows you to share the everyday duties and decision making with another person. This can take a lot of the weight off your shoulders while still allowing you to run a profitable business.
Is your heart still in it?
We talked earlier about leaving emotion out of business decisions, but to be a successful route owner it’s 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. Many business owners feel unmotivated from time to time, but if your business has become more of a burden than a pleasure, it may be time to consider a change.
Has your situation changed outside of work?
The only predictable thing about life is that it’s unpredictable. Things happen over the years, and you may be in a completely different state of mind now than when you first purchased your FedEx routes. If unforeseen events have sent you down a different path, selling your FedEx route business may be a necessary next step.
KR Capital is here for whatever decision is right for you.
As the leading FedEx brokerage firm in the country, KR Capital can help you answer the tough questions so you can decide whether or not selling your FedEx routes is the right decision. If you do decide it’s time to sell, our dedicated team will be with you every step of the way, from calculating the value of your FedEx routes and providing the latest market data to helping you find the right buyer and ensuring the sale goes smoothly.
Contact us today, or fill out our online form to learn more.