The owner has been working over the last several years to position his company to be able to benefit from FedEx's move to the Independent Service Provider (ISP) business model. As routes have become available, he has carefully selected the ideal routes to purchase. He would assume the lease on the truck (if any), and frequently keep the experienced driver as his employee. As of May 1, he will control nine routes, employ ten drivers, and own or lease ten trucks. His company is incorporated as a sub-S corporation. The owner seeks to sell his business to a financially sophisticated buyer, who will work with him (he is operationally sophisticated) in the negotiating process which is an important part of the ISP transition. The current owner is willing to stay on as an employed operations manager for up to two years; he will also consider holding a note, or a comparable buy-out proposal. This offering includes nine contracts with FedEx Ground to deliver and pick-up packages on a daily basis - in nine mostly contiguous Prime Service Areas [PSAs] in desirable sections of Connecticut. The business is listed at $360,000 plus the assumption of the leases on nine of the ten approved trucks (one truck is owned outright); or for $628,000 including the trucks. NOTE: As described above, FedEx Connecticut is in the process of moving to an Independent Service Provider (ISP) business model. This is a great opportunity for a new owner to work with the current owner to negotiate an excellent package with FedEx, which will go into effect on October 1, 2011. Negotiations start on July 22, and must be completed by September 16. A 36 page summary of this process is available for review.
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