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<blockquote data-quote="Mom" data-source="post: 940557" data-attributes="member: 39096"><p>I am a current ISP with an operation about that same size/setup,( I have a Manager who regularly acts as Business Contact, knows all my routes etc.) I was before ISP rollout also, IE incorporated, payrolled employees, workers comp blah blah...Please feel free to PM me with specific questions. Id be happy to look at expense information you have been provided etc and help with getting a feel for how realistic he is representing things.</p><p></p><p>Absentee ownership is totally possible. I wouldn't do it. It would drive me fricking insane not physically seeing my trucks leave, with my drivers in them, etc. But I'm a worrier. A good, reliable, experienced manager would be a requisite. Id ask to talk to the manager and feel him out...my manager, for example, is the best. There is another largish ISP in our building that lives several hours away, who has a 'manager'. Dude is a tardwad and things do not always go well for that ISP.</p><p></p><p>IMO, lots of reasons an ISP sells. Reasons I have seen firsthand: #1: Impending termination. This seller generally is in a HURRY to sell, and at a LOW price. Doesn't sound like this is your guy. Another common one is retirement. #3 is simply that people don't know how to handle a 'business' such as this. You have to have a THICK skin, major stress management skills, be able to handle a billion different personalities and make them all happy.</p><p></p><p>There are lots of other reasons of course, same as with any other person selling any other business.</p><p></p><p>One I would REALLY watch out for, though, with a new ISP....find out how they operated BEFORE ISP. You might be dealing with 3 former small IC's who either had to 'group up' and form a new operating entity or lose their 'jobs' under ISP. What these guys had to do was band together, so to speak, to create a 'service area' big enough to satisfy the requirements of ISP. So, instead of a a true single Owner, like me for instance, you REALLY have 3 dudes who still own their own trucks but work 'for' the newly formed entity. Did I lose you?</p><p></p><p>There are a few of these in our station, and they are bad, bad news. Imagine having three 'owning partners', who still actually hold the titles/loans/leases on their vehicles, but get a paycheck from the Authorized Officer. These dudes can walk at ANY TIME with no risk, and take their trucks with them.</p><p></p><p>Your 'manager' very well might be a former IC-turned-'employee' that will be getting a 'cut' of this sale and is just waiting for the sale to go through to bail on the operation. Might sound extreme, but, Ive seen it.</p><p></p><p>This whole post probably just confused you more. My kid is rubbing a melting popsicle on the cat right now, so I must go tend to that but feel free to ask whatever.</p></blockquote><p></p>
[QUOTE="Mom, post: 940557, member: 39096"] I am a current ISP with an operation about that same size/setup,( I have a Manager who regularly acts as Business Contact, knows all my routes etc.) I was before ISP rollout also, IE incorporated, payrolled employees, workers comp blah blah...Please feel free to PM me with specific questions. Id be happy to look at expense information you have been provided etc and help with getting a feel for how realistic he is representing things. Absentee ownership is totally possible. I wouldn't do it. It would drive me fricking insane not physically seeing my trucks leave, with my drivers in them, etc. But I'm a worrier. A good, reliable, experienced manager would be a requisite. Id ask to talk to the manager and feel him out...my manager, for example, is the best. There is another largish ISP in our building that lives several hours away, who has a 'manager'. Dude is a tardwad and things do not always go well for that ISP. IMO, lots of reasons an ISP sells. Reasons I have seen firsthand: #1: Impending termination. This seller generally is in a HURRY to sell, and at a LOW price. Doesn't sound like this is your guy. Another common one is retirement. #3 is simply that people don't know how to handle a 'business' such as this. You have to have a THICK skin, major stress management skills, be able to handle a billion different personalities and make them all happy. There are lots of other reasons of course, same as with any other person selling any other business. One I would REALLY watch out for, though, with a new ISP....find out how they operated BEFORE ISP. You might be dealing with 3 former small IC's who either had to 'group up' and form a new operating entity or lose their 'jobs' under ISP. What these guys had to do was band together, so to speak, to create a 'service area' big enough to satisfy the requirements of ISP. So, instead of a a true single Owner, like me for instance, you REALLY have 3 dudes who still own their own trucks but work 'for' the newly formed entity. Did I lose you? There are a few of these in our station, and they are bad, bad news. Imagine having three 'owning partners', who still actually hold the titles/loans/leases on their vehicles, but get a paycheck from the Authorized Officer. These dudes can walk at ANY TIME with no risk, and take their trucks with them. Your 'manager' very well might be a former IC-turned-'employee' that will be getting a 'cut' of this sale and is just waiting for the sale to go through to bail on the operation. Might sound extreme, but, Ive seen it. This whole post probably just confused you more. My kid is rubbing a melting popsicle on the cat right now, so I must go tend to that but feel free to ask whatever. [/QUOTE]
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