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Are you buying a second or third FedEx route?

Are you considering adding a second or third FedEx route to your business? There is a lot of debate about whether it is a smart move. Some people think it is important to have multiple sources of income to be resilient if one of your sources fails.

Others believe that buying a second or third way can be detrimental to your business, as it can lead to higher risks, higher responsibilities and more investment in advance. Which side of the fence are you on? Let’s take a look:

Are you prepared for another route?

Before deciding whether or not to add another way to your business, you should ask yourself some important questions.

  • Do you have the necessary energy, time and resources to manage the new route?
  • Will the extra work increase your workload?
  • Do you already have the truck / cars and other equipment available?
  • Do you have backup or holiday drivers who know these new routes well?
  • You are prepared if you have these things or at least know what you may need when you get new ways!

Routes are expensive

There is no doubt about it ̵

1; adding a new one is expensive. That does not mean you should never think about adding a second or third route. It just means that you have to be realistic about the financial implications of this decision. Ask yourself:

  • How profitable is your current route?
  • How well does it perform?
  • Do you have drivers who can take this current route while you learn the new one?
  • Do you have spare trucks that you can use on new routes, or will you get new trucks?
  • Do you have the money set aside so that you can invest in a new route without facing any financial challenges?

All of these factors will play a crucial role in helping you determine if you are financially capable of buying another route or not.

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Can you set aside time to learn about the new route?

Buying a new route is not only about thinking in economic terms but also in terms of time you can spare. Since you are already managing your current route, do you think you can take some time to learn the new route?

Will it be okay for you to manage your current route while training for the new one? You may also need to deal with a replacement daily to ensure that he is doing a good job on the current route.

The benefits of buying a new route:

  • You can increase your income significantly (potentially double it). And when your revenue increases, you can save more money and possibly buy more routes in the future, which further increases your revenue.
  • You already have a legal advisor, tax specialist and accountant for the current route, so you do not need to duplicate these services for the new route. Also, even if your insurance may go up, it will still not double in premium size.
  • You will already have a sub-driver for the current route; You can learn to handle him and understand all the costs involved in retaining a driver. When your second route is up and running, you can get another driver for it, get out of the drive and take care of the handling side. This will free up a lot of your time.

Call us today at (860) 453-0116 to make sure you are properly protected!

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