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Buying a Fedex Ground Route
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<blockquote data-quote="bacha29" data-source="post: 2284196" data-attributes="member: 58386"><p>He's keeping up with the payments and his help is staying around. He had to fire one guy who got in trouble with the law. Another ISP is expected to put his routes on the market due to an expected fraud conviction. Given the possibility that a couple of his routes will be dumped on the guy I sold to I will be standing by ready to help him if I can. Here's the funny part. The buyer of my routes bank wouldn't lend a dime even though his father was the president of the bank. It's like they said it's an intangible asset with no known book value beyond the blue book of the trucks and they are one of the fastest depreciating pieces of equipment known to the U.S. economy.While the chicks might be free they would be lending money for nothing and that wasn't good enough in the bank's mind. Therefore routes that are being sold for at prices above the trucks blue book are based on revenue growth that is completely speculative and completely under the control of X whose interests and profit margins will always come before the contractors margins. Now that the little sole proprietors are going away how long will it be until the investor class who has been propping up the market for these routes becomes as fed up as the little sole proprietors were when they got out? It all comes down to how much money you are willing to put on the table in exchange for a contract that in no way shape or form gives balanced representation to that money Oh by the way.That guy the route buyer fired. Another ISP had no choice but to hire him because the spare driver bin was completely empty. And this was a guy that UPS to their great relief was able to fire after 20 years</p></blockquote><p></p>
[QUOTE="bacha29, post: 2284196, member: 58386"] He's keeping up with the payments and his help is staying around. He had to fire one guy who got in trouble with the law. Another ISP is expected to put his routes on the market due to an expected fraud conviction. Given the possibility that a couple of his routes will be dumped on the guy I sold to I will be standing by ready to help him if I can. Here's the funny part. The buyer of my routes bank wouldn't lend a dime even though his father was the president of the bank. It's like they said it's an intangible asset with no known book value beyond the blue book of the trucks and they are one of the fastest depreciating pieces of equipment known to the U.S. economy.While the chicks might be free they would be lending money for nothing and that wasn't good enough in the bank's mind. Therefore routes that are being sold for at prices above the trucks blue book are based on revenue growth that is completely speculative and completely under the control of X whose interests and profit margins will always come before the contractors margins. Now that the little sole proprietors are going away how long will it be until the investor class who has been propping up the market for these routes becomes as fed up as the little sole proprietors were when they got out? It all comes down to how much money you are willing to put on the table in exchange for a contract that in no way shape or form gives balanced representation to that money Oh by the way.That guy the route buyer fired. Another ISP had no choice but to hire him because the spare driver bin was completely empty. And this was a guy that UPS to their great relief was able to fire after 20 years [/QUOTE]
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