fedexbuyer1
Member
I have been reading posts about buying a FedEx route and you have left me confused....
I cannot disclose where this route is or who it is because I have signed a disclosure agreement.
Will you please help me figure out if I should make the investment? Thanks in advance for your time.
I am in construction and have done well. I can pay cash for the routes. I live close to the routes. I have a manager in my construction business that wants in on the game and he is 30 years old and no kids so he can manage it for me pretty well.
Here is what I know:
The owner bought in 2010 but wants to sell. He used to own routes in a neighboring state and in another neighboring state. He said he sold because they were hard to manage that far away. However, two states away is the last route that he will keep because he has a good driver that wants to stick it out. So, he is not selling all of his routes....he is keeping one....in another state....sort of contradicts himself. He said he is selling because he wants to jump back into construction and make better money or move to the Sunny South.......I dont believe him.
He wants $650k
He owns 9 trucks worth about $220k
He has 4 routes and 2 supplementals
He has 6 drivers
Revenue is $650k
His expenses he says are $500k
He nets $150k
He says he only works 2 hours per day in the morning from home to make sure the trucks are working and out........I cant believe this.
Why would you sell a company that you work for 2 hours per day and make $150k?
Thanks again for your help....
BBSAM...What do you think?
I cannot disclose where this route is or who it is because I have signed a disclosure agreement.
Will you please help me figure out if I should make the investment? Thanks in advance for your time.
I am in construction and have done well. I can pay cash for the routes. I live close to the routes. I have a manager in my construction business that wants in on the game and he is 30 years old and no kids so he can manage it for me pretty well.
Here is what I know:
The owner bought in 2010 but wants to sell. He used to own routes in a neighboring state and in another neighboring state. He said he sold because they were hard to manage that far away. However, two states away is the last route that he will keep because he has a good driver that wants to stick it out. So, he is not selling all of his routes....he is keeping one....in another state....sort of contradicts himself. He said he is selling because he wants to jump back into construction and make better money or move to the Sunny South.......I dont believe him.
He wants $650k
He owns 9 trucks worth about $220k
He has 4 routes and 2 supplementals
He has 6 drivers
Revenue is $650k
His expenses he says are $500k
He nets $150k
He says he only works 2 hours per day in the morning from home to make sure the trucks are working and out........I cant believe this.
Why would you sell a company that you work for 2 hours per day and make $150k?
Thanks again for your help....
BBSAM...What do you think?
