How We Find a Route Buyer – The Route Exchange
The first thing we do is create listings and start running online advertising to generate interest in your route. We reach out to potential buyers that we have already spoken with regarding other opportunities. We contact any other services that may be able to help us find a buyer. Every marketing strategy and resource will be utilized to ensure your listing receives maximum interest.
Qualifying the Leads
Once we have someone that is interested we require a non-disclosure/non-compete agreement to be submitted. At that time we will discuss the details with the contact and go over the account list/sales report or any other information we have on file. We make sure they understand how the routes work and what they should expect moving forward.
If we feel that they are a good candidate we then ask for a verification of funds. The lead has to provide us with financial verification documents so that we know they have the money necessary for a purchase. This is an important step since most sellers do not want to offer owner/seller financing.
Connecting the Parties
Once the lead is qualified we typically reach out to the seller with the lead’s contact information. At this point they have been qualified and generally just want to check out the route in person. Usually a ride along on the route is scheduled. Many buyers just want to meet the seller and make sure this is a legitimate business.
After a meeting/ride along we would expect the lead to make a purchasing decision. Their offer can be communicated directly to the seller or through our service. If an agreement is reached then we can move forward toward the closing. We will help both parties through the offer and negotiation process.
In many situations the company (Bimbo, Pepperidge Farm, etc.) will handle any necessary purchasing paperwork. In those scenarios we are unable to assist in that process. However, if you want the buyer to submit a down payment/deposit and Letter of Intent then we can provide template agreements. That is completely up to you and is not required.
If the route is independently owned (vending, ATM, landscaping, etc.) then we can provide template agreements for the closing process. Of course the seller can consult with an attorney to draw up those documents if they choose to do so.
We make sure that the buyer is prepared for the closing and has any information they need on that process. If we are acting as an escrow agent then we can handle the disbursement of escrow funds. Our commission is always due after the final route closing takes place.