Selling your FedEx Ground business?
How to Sell Your FedEx route business.
Whether you are a Ground, Home Delivery, or Line haul contractor it’s important to hire a broker who is familiar with the FedEx selling process. Having been in your shoes before as a seller, our time is at a premium running the business on a day to day basis. Add on top of that putting a listing out there yourself and trying to sell your FedEx Ground business is like having 2 full-time jobs at one time. That’s where we come in at! Let’s take a look at the process of selling your FedEx ground business.
- Start with a free business valuation, we review your business a to z looking for any operating improvements and make the recommendations to you and go over the possible price range that we could get for your business. We use comps from other recent FedEx sales to show you what other routes similar to yours are selling for.
- A listing agreement is signed, we put together a prospectus including 3 years of 1099, 3 years of tax returns, a spreadsheet showing annual expenses with a cash benefit to the owner, truck info, driver tenure, and maps showing the service areas and FedEx station location, and other details related to your business.
- Once we have the prospectus completed we then market your business through our network of buyers, internet marketing, and print marketing. Once a prospective buyer reaches out to us we have them sign a nondisclosure agreement (NDA) we also screen them to ensure they are financially capable of purchasing your FedEx Ground business.
- We then schedule a conference call or an in-person meeting is scheduled. A question and answer session are held with the prospective buyer and seller related to the prospectus material given to the buyer.
- Buyer submits a letter of intent to outline the price, and terms of the deal, once accepted a deposit is also placed into an escrow account, taking your listing off the open market.
- The Asset Purchase Agreement is drafted and signed by both Buyer and Seller. The buyer has a 30 day or less due diligence period to review the business, verify the numbers, ask any last questions.
- Once the Buyer has completed the due diligence period both parties fill out the CR-030 form, seller turns in form and Buyers RFI into station management.
- Buyer has an interview with FedEx station management, once approved, truck inspections are arranged with station management, Buyer insures trucks.
- A meeting is held with the drivers and the new owner.
- The buyer funds the remaining balance owed, closing takes place, Buyer signs operating agreement with FedEx.