They held their value during our transition. Most had multiple bidders, some desperate to get up to scale so they were willing to overpay.Just out of curiosity for the people that have money to burn do singles usually start selling at fire sale prices or do they normally team up?
Personally I could not imagine teaming up with four other contractors
They held their value during our transition. Most had multiple bidders, some desperate to get up to scale so they were willing to overpay.
2010When did your state flip?
That's why they give so much time to get to scale. Everyone will change their mind 10 times. If you already own a few, bringing a few singles in as minority shareholders is pretty easy. It's like buying them out without the cash up front.I'll have to review my options first. I have 2 of the higher grossing routes in my terminal. I'll talk to a few guys about teaming up and listen to any offers before making my decision.
They are going to pay $X + or - 3.5% and that's it. Put the money in any "bucket" you want.
I don't know what to say on this anymore. I certainly don't dislike what I do, but if anyone is thinking they will suddenly have free reign over every aspect of their business, well that's simply not going to happen. It's always something with this company and the something always costs money and it always comes from the ISP'S bottom line. "Oh, just put together a request for renegotiation," they'll say. I have not met a single person who has felt that renegotiation (or first negotiation) was fair or even that the company listened to a thing. They are going to pay $X + or - 3.5% and that's it. Put the money in any "bucket" you want. Doesn't matter. When you come close to $X, added money in one bucket is simply subtracted from another. Your vehicles will have quarterly reviews and if not up to a subjective par, they will be "not deadlined". That is to say deadlined but under different terminology because technically they can't "deadline" a vehicle.
Your drivers will leave for Express because you won't be able to pay Express compensation and your cycle will begin again trying to find a replacement from local pizza joints, Craigslist, anyone who can pass a background check and meets minimum requirements. Inevitably in the first year or so that new driver will be involved in one or more accidents, have complaints, misdeliveries, be late, quit...but in these endeavors make no mistake about it --you are independent.
All that sound like it sucks? Yeah, sometimes. FedEx is just like every other global company tbough. High demands, relatively low return. All about the investors.
All that being said, I've had worse jobs and I'm optimistic about the future even though part of me thinks FDX will just keep more and more for itself.
Honestly, the happiest guys on our building were the guys with good routes who sold out for 6 figures. The least happy are the guys who Overpaid for routes that eventually could have been had for next to nothing.
Doesn't matter. They live within the letter of the law even while impaling the spirit on Lady Justice's sword.You just made an excellent case for "degree of control" on the part of FedEx.
They have reason to worry.Wow, this conversation sounds like bullshiiiiite! I've never thought for a second you guys are treated fairly. Sounds like these transitioning guys are coming out the cuts because they are worried they will make no money.
Revenue is up but so are costs. Every year the increased compensation from FedEx and overall growth ends up going back in to the company. I keep having to add additional trucks and drivers so my profit doesn't increase much. My company's value has increased but what I take home hasn't significantly.I'm a little confused everyone that I have talked to that are ISP have said they made more than when they were IC (maybe not by much but still more) are you saying that it is less profitable? I do realize pickup issues and a few other things are penalized at ridiculous levels but taking that out is anyone making less than when they were IC?
Has company value really increased? Word is getting out how the company bullies contractors, anybody with the kind of $ you will be asking for these entities are not as common as you think. These routes have decreased in value in recent years.