Here's an interesting trend, people are selling FedEx and other driving routes. In some cases, it is because the driver dislikes the route, even with only a four hour work week and a net income of over one hundred fifteen thousand per year. Clearly, something seems amiss, and that is most likely the case. For, a number of people buying Ground routes for sale are getting scammed.
One new owner said the route had been purchased without any assistance a few years ago. The former owner provided documentation and proof of income. While this is the case, the buyer, a former finance manager was still scammed when purchasing the route.
In order to avoid being scammed when buying an absent owner route, remember that just because an owner does not have to be present does not mean the business is successful. In addition, the path to ownership in this area can often very treacherous for a number of other reasons. Take for example, the finance manager who knew everything there was to know about buying and selling, if someone of that nature can be scammed, most anyone can.
While owning a business can prove fun and exciting, it can also be disappointing and frustrating. For, while sellers may quote that the individual can make a great deal of profit, this is not always the case. For, when buying routes, there is no guarantee as to how much money one can earn as an absent owner after doing so.
Sellers can also be misleading when it comes to how much time an owner will need to put into a business so that it runs correctly. While being successful is important, running the business correctly is a must in order to do so. As such, it is important to pay close attention to the word correctly when negotiating the purchase and sale of a driving route.
When it comes to an absentee owned FedEx route business, it should be noted that any business can be ran in this manner. For example, an individual could purchase an existing business, including management and staff, then sit at home and contemplate life. After which, the individual sells the business to someone for a slight profit, then that person does the same thing. After a few rounds, the business goes bankrupt, most likely at the hands a new owner.
To protect against scams, it is important to vet all aspects of ownership. For example, when purchasing any business, especially those advertised as being owner absent, obtaining owner name, length of ownership, tax documents, proof of income and statistics is essential. Whereas, it is also important to obtain information with regards to required man hours of employees and salaries, earnings and operating expenses to assure a business can succeed.
The bottom line, sellers will do almost anything to convince buyers a business is a legitimate owner absent opportunity. If this is the case, sellers will not have a problem providing any information requested by buyers, including current operating expenses, outstanding loans, payroll, employee names and references. If an individual denies to provide such information, it is most likely a good time to walk away.
One new owner said the route had been purchased without any assistance a few years ago. The former owner provided documentation and proof of income. While this is the case, the buyer, a former finance manager was still scammed when purchasing the route.
In order to avoid being scammed when buying an absent owner route, remember that just because an owner does not have to be present does not mean the business is successful. In addition, the path to ownership in this area can often very treacherous for a number of other reasons. Take for example, the finance manager who knew everything there was to know about buying and selling, if someone of that nature can be scammed, most anyone can.
While owning a business can prove fun and exciting, it can also be disappointing and frustrating. For, while sellers may quote that the individual can make a great deal of profit, this is not always the case. For, when buying routes, there is no guarantee as to how much money one can earn as an absent owner after doing so.
Sellers can also be misleading when it comes to how much time an owner will need to put into a business so that it runs correctly. While being successful is important, running the business correctly is a must in order to do so. As such, it is important to pay close attention to the word correctly when negotiating the purchase and sale of a driving route.
When it comes to an absentee owned FedEx route business, it should be noted that any business can be ran in this manner. For example, an individual could purchase an existing business, including management and staff, then sit at home and contemplate life. After which, the individual sells the business to someone for a slight profit, then that person does the same thing. After a few rounds, the business goes bankrupt, most likely at the hands a new owner.
To protect against scams, it is important to vet all aspects of ownership. For example, when purchasing any business, especially those advertised as being owner absent, obtaining owner name, length of ownership, tax documents, proof of income and statistics is essential. Whereas, it is also important to obtain information with regards to required man hours of employees and salaries, earnings and operating expenses to assure a business can succeed.
The bottom line, sellers will do almost anything to convince buyers a business is a legitimate owner absent opportunity. If this is the case, sellers will not have a problem providing any information requested by buyers, including current operating expenses, outstanding loans, payroll, employee names and references. If an individual denies to provide such information, it is most likely a good time to walk away.
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