Snyder's of Hanover

Since: Jul 13

United States

#4093 Jul 15, 2013
Snyders CEO wrote:
<quoted text>And the Cobalt, I only drive Fords, and above, Ie, Dodge Honda, Yugo's, etc. And as for the horseshoes, I aint no REDNECK,right ma, although my sister is pretty HOT.
ok how bout u finance me and throw your HOT sister in,and ill let you buy product from me.....for the hustlers and ill get a yugo for you..
Snyders CEO

Frederick, MD

#4094 Jul 15, 2013
greennax wrote:
<quoted text>ok how bout u finance me and throw your HOT sister in,and ill let you buy product from me.....for the hustlers and ill get a yugo for you..
OK deal, but only half of the Hustlers, cause you get my sister, deal?
FORMER UTZ IBO

Littleton, CO

#4095 Jul 16, 2013
greennax wrote:
<quoted text>I believe its 18:1.
You really need to do your numbers. You said the route is selling for $118,000. You believe the ratio is 18:1? The weekly average for sales would be $6,555.56/week. His 1099 is $51,000/year. That's before expenses and deductions and taxes.

Now I really want you to buy the route. You, like everyone who was warned not to buy, will end up like the others. I don't remember the last IBO who lived off averaging $6,555 in sales per week. Good luck. Better yet, God be with you..........

Since: Jul 13

United States

#4096 Jul 16, 2013
FORMER UTZ IBO wrote:
<quoted text>
You really need to do your numbers. You said the route is selling for $118,000. You believe the ratio is 18:1? The weekly average for sales would be $6,555.56/week. His 1099 is $51,000/year. That's before expenses and deductions and taxes.
Now I really want you to buy the route. You, like everyone who was warned not to buy, will end up like the others. I don't remember the last IBO who lived off averaging $6,555 in sales per week. Good luck. Better yet, God be with you..........
now this is all a part of learning.I'm pretty sure after taxes and expenses its 51,000.it may not be 18:1 I'm really not sure how the ratio thing works yet..he avgs about 7,800 in sales a week and he dosent do saturdays.with the info given what would be the ratio??remember I'm still doing reasearch,thanks for your input.
FORMER UTZ IBO

Littleton, CO

#4097 Jul 16, 2013
greennax wrote:
<quoted text>now this is all a part of learning.I'm pretty sure after taxes and expenses its 51,000.it may not be 18:1 I'm really not sure how the ratio thing works yet..he avgs about 7,800 in sales a week and he dosent do saturdays.with the info given what would be the ratio??remember I'm still doing reasearch,thanks for your input.
The ratio would be 15:1

I know people that are grossing over $100,000/year and their taxable income after all said and done is in the mid 30's. The seller must really be cheating the IRS. We also had someone here who got caught and had to pay over $26,000 back in back taxes plus penalties, or go to jail.

$7,800/week is considered low in these parts. I know the cost of living is different everywhere. In these parts if an IBO isn't doing $10,000/week he'll always live paycheck to paycheck. That's just what I hear from my peers..........

Since: Jul 13

United States

#4098 Jul 16, 2013
That might not include cash stops.he showed me his tax stuff and has an accountant.so the lower the ratio the better it is?
FORMER UTZ IBO

Littleton, CO

#4100 Jul 16, 2013
greennax wrote:
That might not include cash stops.he showed me his tax stuff and has an accountant.so the lower the ratio the better it is?
Cash accounts should not be reflect the sale price. They're not guaranteed accounts.

The ratio correlates with the price. In your instance. You state the seller is averaging around $7,800/week. if the seller is asking $118,000 for the entire route divide 118000/7800 and you get around 15 times.

You should see what type of accounts you would be purchasing. Reading that the seller doesn't work weekends makes me tend to believe he has mostly c-stores. If he does have supermarkets then he probably pays someone to merchandise or run his route.

You will be all excited like everyone who first reads and signs. Then some time down the road you might have little issues, then larger ones, and only then you start realizing the contract is literally a one way contract. By then it'll be too late. You're route isn't doing what the numbers said. There's no product. Product is short coded. Stales are more than what was said. When the time comes and you get fed up you signed a contract that if you got a loan from BoA and you want to sell? There is a 7% fee off the top. And within the first year of selling? There's another 3% fee to S-L.

Get a copy of the contract you're gonna sign. Have a lawyer read it. As a matter of fact, have anyone else but you read it and ask them what they think about it. Your heart and mind are in it. You can't be neutral. That's how all the newbies get trapped. They were all gung ho, then reality stepped in.

Since: Jun 13

Location hidden

#4101 Jul 16, 2013
greennax wrote:
<quoted text>now this is all a part of learning.I'm pretty sure after taxes and expenses its 51,000.it may not be 18:1 I'm really not sure how the ratio thing works yet..he avgs about 7,800 in sales a week and he dosent do saturdays.with the info given what would be the ratio??remember I'm still doing reasearch,thanks for your input.
118k sounds high, i don't think I'd pay more than64-70k. If that dude gets 118k for a rt doin $7800 im selling immediately. It's not exactly a dream contract but its fun and all things considering an easy job. Get an accountant and make sure u have 4-6 grocery stores and its a good job. Good luck

Since: Jun 13

Location hidden

#4102 Jul 16, 2013
Multipliers are 15 and 18 for our routes?!

Since: Jul 13

United States

#4103 Jul 16, 2013
Thanks guys.thanks a lot!now I have a much better insight on how that works.if he subs it out to me at first do you think it could benifit me or hurt me..remember I'm very new and never did anything like this but always wanted to.also the 7800 may just be a 5 day run.it I did a saturday like I plan on I could pull a 10000 week.
abc123

Hanover, PA

#4104 Jul 16, 2013
greennax wrote:
Thanks guys.thanks a lot!now I have a much better insight on how that works.if he subs it out to me at first do you think it could benifit me or hurt me..remember I'm very new and never did anything like this but always wanted to.also the 7800 may just be a 5 day run.it I did a saturday like I plan on I could pull a 10000 week.
Former Utz IBO is giving great advice..I totally agree with everything said. I will add one more thing...always remember... a seller will make EVERYTHING sound so good no matter what your buying..don't forget...buyer BEWARE!! I do fine as an IBO but know what you are buying and committing to before signing on the dotted line.
Canthandle

United States

#4106 Jul 16, 2013
All I can tell you is run! I was a newbie 6 months ago. Grew sales, did what I had to to make it profitable and made some money doing it. Problem is, it doesn't take long to realize that there isn't a long term plan with this company . They screw up settlement checks which takes weeks to resolve, run out of product, force cross docks on you at wal mart and pretty much lie through their teeth with anything they say to you. I realized this, found a buyer, left s&l and bam they stil figure out a way to bleed you. Botched the paperwork ony buyer....turned around and forcefully bought the route for about $14k less than what they sold it to me for , and sent me the bill for $13k. It's not a terrible job, it's the unfair practices of the company. Read that contract in depth....you are giving up your right to any legal representation which means they can "f" u however they see fit and it's going to cost you legal fees to try and fight them. I'm am currently consulting a lawyer to try and fix this mistake that I made signing the dotted line. This company is all about a buck and they will stand in the iBo's back to get there. My 2 cents
cookieman

Eagle, CO

#4107 Jul 16, 2013
greennax wrote:
Thanks guys.thanks a lot!now I have a much better insight on how that works.if he subs it out to me at first do you think it could benifit me or hurt me..remember I'm very new and never did anything like this but always wanted to.also the 7800 may just be a 5 day run.it I did a saturday like I plan on I could pull a 10000 week.
Offer 10 to 1 are chain accounts only. Cash accounts have no value.He will tell you how much money he makes a on cash stops, but your business will be driven by chain customers. It sounds like you want to do this, which thousands of people do, but do not overpayy because you think you can grow this by 20% overnight. Slow sustainable growth is what you want, not unsustainable spike growth.
cookieman

Eagle, CO

#4108 Jul 16, 2013
GREENAX. If you really want to learn this business, go to work go frito lay.Then you will understand and appreciate the benefits if being an IBO.Don't sacrifice your family and livelyhood because you think you can do better than the last guy. His job is currently to sell his route.
cookieman

Eagle, CO

#4109 Jul 16, 2013
FYI. SL has always treated me fair.
Not ok

Beaumont, TX

#4110 Jul 16, 2013
I'm asking 69k for my route. I want to know if it's about right. 3 Walmarts a target and 5 other grocery stores. As well as 8 charge c stores and 12 cash c stores. I'm averaging over 6000 a week without trying or pushing displays/promos. Comes with truck. $60 week In gas. Bin route.
snackman

New Bloomfield, PA

#4111 Jul 17, 2013
Not ok wrote:
I'm asking 69k for my route. I want to know if it's about right. 3 Walmarts a target and 5 other grocery stores. As well as 8 charge c stores and 12 cash c stores. I'm averaging over 6000 a week without trying or pushing displays/promos. Comes with truck.$60 week In gas. Bin route.
Your route sucks if that's all you run is 6000 with 3 walmarts and 5 other grocery stores.

Since: Jul 13

United States

#4112 Jul 17, 2013
What if I try to partner with the seller?he will sub out the route to me and pay me a flat rate every week?then when the route is paid for I can get a substantial raise from him and he can still make money by doing minimal work.he has 4 grocery and good ones also a target.among cash stops I think its a good route,but from the insight you good ibos are telling me its way to high.if I can get this to a 12:1 will be better.I want to do this I don't want to kick my slef later
Not ok

Beaumont, TX

#4113 Jul 17, 2013
Well I shoulda explained a Lil more. 6000 without promo allowances (700-800 aweek) and cash collected(avg600 a week) I am also not a salesman but I do take care of my stores. If a good salesman had this territory they could do a lot more.
FORMER UTZ IBO

Littleton, CO

#4114 Jul 17, 2013
Not ok wrote:
Well I shoulda explained a Lil more. 6000 without promo allowances (700-800 aweek) and cash collected(avg600 a week) I am also not a salesman but I do take care of my stores. If a good salesman had this territory they could do a lot more.
Not trying to rag on you, but to say you're a good salesman in one sentence, then say if a good salesman came in he could do more than you doesn't sound good for you. It seems you do the bare minimum. I'm not saying go out to your stores everyday and maximize. You're the kind of seller I would like to buy from.

The asking price is what you can get for your route. Pre merger the Snyders routes were selling for 20:1 in this area. Then post merger mgmt suggests the routes should go for 18:1. Idiots. The product line IBO's own now has grown and now the routes are worth less? Mgmt are a bunch of controlled dumbasses. If you can get a buyer to purchase your route for 20:1 then that's the market. No different than selling your house. Your house/route is worth what someone will pay for it. Here is where you should use your sales skills to sell your route. You get one chance to make an impression.

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