Since: Sep 12

Location hidden

#3244 Mar 23, 2013
george wrote:
Dont let them take the route back! Sell it for what u paid 4 it or take a small loss on it!! Even if u have to hold 10 grand just so u save your credit! Or sell them the route what u paid 4 it and give them your truck or trailor just to save your credit!
We didnt have a choice in keeping our routes Snyders made route evaluations during the months May 2012-Jan2013 based on their evaluations we were Lo-Balled in the route buybacks Snyders wouldnt let us sell them. Based on a 6 month evaluations during the slowest time of the yr we all got Screwed
george

Brick, NJ

#3245 Mar 23, 2013
I sold out 2 years ago and everyone told me I was nuts! It was the old feeling if it feels like the bottom is coming out its just a matter of time when it comes crashing down! Routes were going 30 -1 so I new it was top so it was time to go! Best thing I ever did!
Hubby wife team

Hubbard, OH

#3246 Mar 23, 2013
Thanks for the replies. Okay well the situation is we are currently selling our route. Its been over a month and a half since we were told 30 days. Every week we get stuck with another route payment. We already transferred everything over to our buyer, so he is now getting any checks and cash account money. They keep saying its in the approval process. We also got in the mail a letter saying we owe 6k from our last settlement, which we knew would happen but our DM said it would be taken out when we get to closing. Snyders is saying they want payment in 10 days. Our buyer is already frustrated with the company and has talked about backing out. I don't think he will, but if worse came to worse and he walked away... we would also have to walk away from the route. I honestly do not care about my credit if it mean't to get away from this company. My husband and I pay cash for everything and do not need credit, though id hate to hurt my credit, like I said, worth it to be done. If they can get this approval crap done and set a closing, everything would be fine. I call almost daily for updates but nothing seems to be moving along.

The main question is other then it effecting my credit, what can/will synders do if we walk away from our route? Would they sue me for the loan amount I still owe?
Here Comes Herrs

Newberry, FL

#3247 Mar 24, 2013
The best thing I could have ever done was add a new Chip line to my portfolio.

Totally wide open market here in Florida. Lot of cold calling and door knocking to get started and running, but once in place, its been great.

Management is..well Management. They tried to stop me, but when I showed them my contract and called Legal, they were advised to stop the threats. All about READING and KNOWING your contract.

Now I'm looking for IBO's in the North Florda area that want a chance to actually make more than 17% and not worry about Promo fees.
The Franchise

Matthews, NC

#3248 Mar 24, 2013
Hubby wife team wrote:
Has anyone here walked away from their route still oweing money on the loan? What exactly happens? We have been told many different things from DM and other IOs. Our DM only said that our credit will be ruined and thats it.. is that true? Will they try to collect the remaining loan balance from us, or just resell it.
Also, has anyone here sold their route? How long did the full process take?
We had someone walk away owing a bunch of money. The day before they were being put on cash only load purchases, they pulled 6K, sold it (most of it was cash, c-store route) and never returned any inventory or gave back any of the money. S/L "bought" the route back at two times above the original ratio, used that money to go against the balance. She got threatened for the difference but nothing has happened to her yet. I doubt it will. The one thing S/l doesn't want is a legal procceding and in reality, it is just not that much money for a company the size of S/L.

I listed my route with a national broker and was under contract within a month. The entire process took about 100 days once under contract, give or take. I did have to stay on them the entire time and kept calling every week. I think S/L and my DM finally got sick of me and that kept the process rolling. The key if you sell is to get a NON-REFUNDABLE deposit of a minimum of 5% of the purchase price. That is a reasonable amount if you want to take the route off the market. The broker I used required a 4.9% commission and the downpayment was held with the broker. Once the route closed, the downpayment was released to the broker directly. IF my buyer had walked away, we would have split the downpayment. I hope this helps.

Since: Feb 13

Rochester, NY

#3249 Mar 24, 2013
S-l hassomeretarded ibos wrote:
<quoted text> lol sorry son if you are paying 400 a week in allowances )which I really don't believe but who I am to know whats going on up there , then I can see why you guys aren't making any money ....
We have a store up where every item goes in with a PA everyday...the promos add up quickly
cookieman

Eagle, CO

#3250 Mar 24, 2013
Here Comes Herrs wrote:
The best thing I could have ever done was add a new Chip line to my portfolio.
Totally wide open market here in Florida. Lot of cold calling and door knocking to get started and running, but once in place, its been great.
Management is..well Management. They tried to stop me, but when I showed them my contract and called Legal, they were advised to stop the threats. All about READING and KNOWING your contract.
Now I'm looking for IBO's in the North Florda area that want a chance to actually make more than 17% and not worry about Promo fees.
the way I read the contract we are encouraged to carry other lines as to reduce their exposure of our liabilities.
ktmracer475

Norman Park, GA

#3251 Mar 25, 2013
I have a chance to buy a Pep Farms combo route and now a SL route has also come up. These are in a Upstate NY. Not sure which to pick.
Any suggestions greatly appreciated to pros/cons of either.
Former UTZ IBO

Jersey City, NJ

#3252 Mar 25, 2013
I heard something interesting this weekend from a fellow IBO in MA. There were over 20 suits at the Foxboro warehouse last week. Only from hearing conversation did someone find out some of them were from General Mills. I know GM isone company out of many bidding foe the Robert's line (Pirate's Booty). But another threw in that GM is a huge company and that they have the power to purchase S-L outright. I don't know the size of the company personnally. I did find what he said was interesting. That warehouse is usually the first to know everything because it's where all the suits meet when there are business trips. They come in, settle down, go to all the surrounding stores, eat and drink on the company, and leave. DM's always TELL the IBO's to service their stores to a T so there's no backlash.
cookieman

Eagle, CO

#3253 Mar 25, 2013
ktmracer475 wrote:
I have a chance to buy a Pep Farms combo route and now a SL route has also come up. These are in a Upstate NY. Not sure which to pick.
Any suggestions greatly appreciated to pros/cons of either.
If you can afford pepperidge, do it. SL may be available again. Ive had 2 Peppridge Routes. Currently a snack route, also own Sl route. Sl route is 30% of income 50% of time. Pepperidge is 50% of income at 30% of my time.
Top Boss

Bolingbrook, IL

#3254 Mar 25, 2013
Yeah, but Pepperidge Farm routes cost an arm and a leg. It's a ripoff!!!!
cookieman

Eagle, CO

#3255 Mar 25, 2013
Top Boss wrote:
Yeah, but Pepperidge Farm routes cost an arm and a leg. It's a ripoff!!!!
Like I said I have owned 2.
chip man

Kennesaw, GA

#3256 Mar 25, 2013
PF cookie routes are hard to make money with unless you put down a big down payment or pay cash.If you pay over 40-1 plan on spending half of your gross income on the loan payment alone.Then you still have to pay the rest of your expenses.PF bread routes are cheaper and pay the same 20% commish.
Long Time Lance Man

Nazareth, PA

#3257 Mar 25, 2013
ktmracer475 wrote:
I have a chance to buy a Pep Farms combo route and now a SL route has also come up. These are in a Upstate NY. Not sure which to pick.
Any suggestions greatly appreciated to pros/cons of either.
I worked for lance for 24 years. when Snyder's took over the company they completely destroyed it. they also let me go. I am now working for Mission. the route is not much but I will build it up. I also interviewed for a Pepperidge farm cookie route. they gave the route to somebody else. they pay 20% on everything you sell Snyder's pays 17%. the lowest in the industry. the standard is 20%. Pepperidge cookie routes will probably go for a 40-1 ratio. that means for every 1000.00 worth of business you buy You will pay $40,000.00. example a route that sells $5,000.00 dollars of business a week will sell for around $200,000.00. These are the highest price routes out there. I still think it is a much better choice than a Snyder's route. you will pay a lot less for a Snyder's route. you have more independence working for Pepperidge then Snyder's. I hope this helps.
Bill

Qingdao, China

#3258 Mar 25, 2013
Does anyone here donate outdated chips to food pantry's? How much can you deduct from your taxes?
Bent over Billy

Jefferson, MD

#3259 Mar 25, 2013
Bill wrote:
Does anyone here donate outdated chips to food pantry's? How much can you deduct from your taxes?
Since you are in China, check that countrys tax laws.
Top Boss

Bolingbrook, IL

#3260 Mar 25, 2013
Bill is a communist!
Distributor

Fort Myers, FL

#3261 Mar 25, 2013
Please go with Pepperidge Farm.....do yourself the favor....(I did)...
ktmracer475 wrote:
I have a chance to buy a Pep Farms combo route and now a SL route has also come up. These are in a Upstate NY. Not sure which to pick.
Any suggestions greatly appreciated to pros/cons of either.
Rob

Ridgefield, CT

#3262 Mar 26, 2013
I did a little digging into Bridgford Foods. They happen to be publicly traded so they have filings with the SEC. They discontinued their sales through S/L. What other partner brands are losing sales and why? What about the chance of S/L getting bought out by a Frito-Lay type company. Is thate possible?

Bridgford (BRIDís) sales last quarter were $30.7M vs.$29.7M for the quarter ended January 25th 2013. For the quarter Wal-Mart was 14.3% of revenue compared to 10.8% in the January 2012 quarter, or $4.39M vs.$3.2M, up 34%. Dollar General also increased from 8.1% to 11.5% of revenue yoy.

Brid says in their SEC filing: "...w]e reduced product distribution through independent third-party distributors (redistributors) in the latter part of fiscal 2012 in favor of utilizing customer managed warehouse distribution centers to lower distribution cost. Approximately 900 customers were served in the third twelve weeks of fiscal year 2012 using this distribution method and the Company fully discontinued redistributor arrangements in the last quarter of fiscal 2012."

Since: Mar 13

Location hidden

#3263 Mar 26, 2013
Have owned a route for little less than a year. Been reading all the posts and two things I agree with. SL is not to be trusted at all and two, you can make a decent living but you do have to work and manage your own business and not let the selfish management do it for you. I do have a question to put out there. Has anyone had an attorney look at the portion of the contract that states what exactly what you have bought? SL will tell you that you bought accounts and not a territory but the contract clearly lays out a geographic description and map. Any thoughts?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Hanover Discussions

Title Updated Last By Comments
PA Who do you support for Governor in Pennsylvania... (Oct '10) 1 hr Jazzman 51,524
PA Who do you support for U.S. Senate in Pennsylva... (Oct '10) 1 hr Martin Luther 4,019
PA Who do you support for Lieutenant Governor in P... (Oct '10) Mon R Nixon 186
Straban Township man charged for Walmart thefts Sep 20 Petal Power 2
bulllys at the work place. Sep 19 Petal Power 3
Hanover Police Force Sep 15 Jeremy 1
Review: Dean's Auto Plaza (Sep '13) Sep 4 lesson learned 8

Hanover Jobs

Hanover People Search

Addresses and phone numbers for FREE

Hanover News, Events & Info

Click for news, events and info in Hanover

Personal Finance

Mortgages [ See current mortgage rates ]