FedEx Linehaul (Teams) Priced to Sell - $1.2mm Cash Needed to Close
As you are looking at Linehaul businesses, you are going to see these are now listing for 1X or 1X+ of revenue. This one is priced to sell quick because we have an opportunity to purchase another business.
This business was started in 2013 and we built it to 40 runs. We have recently sold all of the solo routes we had, and are now looking to move our team routes. Projected revenue for these 9 runs is $4.2 million per year. (Business did over $6 million as a whole in 2020 with the solos....so financials will not show the break down of just these routes.) Financials are clean though, as CPA has done the bookkeeping and taxes for all the years, and has done them under PCAOB standards.
$1,000,000 in truck financing on 8 of the trucks with 3 years left (roughly).
Weekly Revenue Per Team Run based on 4800 miles average per truck:
Fuel: $1824 (7.5 MPG at $2.85 gallon wholesale)
Drivers: $3900 (65 CPM plus 25% for payroll tax and workers comp)
Maintenance and Tires: $432 (.09 per mile/new trucks with warranties)
Truck Insurance: $100
eLog/GPS Systems: $46
Truck payment: $660
Net: $2335 per week potential
Reality is, multiply this by 46 weeks since you will lose drivers, drivers will get sick, drivers will take vacations, etc. That is $107,410 worth of potential cash flow per team run....but then you will have CPA costs, advertising costs, benefits, etc. You should be able to make around $80,000 net per team truck.
Those are real numbers.....not the inflated stuff you see from brokers who have never run this business.
We need to do a stock sale. This is a C corporation and we save nearly 7 figures on taxes. We will agree to take any and all liability for the company before the date of sale (there are no issues and we will carry money back until everything is proven to be clear.) If you are not open for a stock sale where we will take the risk of undisclosed skeletons, please don't waste each others' time.
Purchase price $3,500,000
Debt already in company:
$1,000,000 Truck debt
$1,000,000 Private Investor Debt ($96,000 per year interest only)
$250,000 Seller Carry back
$1,250,000 cash down payment
Business comes with one driver manager and we will also provide consulting for 6 months at no charge. Business is set up to run itself though..... I haven't been to a terminal in a few years.