Snyder's of Hanover
northeast snackman

Plainville, MA

#1397 Sep 7, 2011
Forget this chitter chatter. Any Lance guys out here that have gone through the transition? Anything to add or say about your personal situation? If you were an IO what did you buy your route for back then, what did Snyders-Lance buy your route for? What ratio? Did you sign a service agreement?
I have spoken to Lance guys on the street and they said Snyders was buying their routes for 10:1 ad they would have to pay 18:1 for the new routes. Any comments about this?
And lastly, mass io: good luck you masshole lol ;-)
Clocker

Wimauma, FL

#1398 Sep 7, 2011
Mass IO, I tried to sell my route after the merge was finalized and Snyder wouldn't let me. If you get a buyer don't be surprised if they won't interview him. Don't count on being able to cash out. I couldn't and had to take the buyout at ther same ratio I bought the route for.
MeMe

Seminole, FL

#1399 Sep 7, 2011
Clocker wrote:
Mass IO, I tried to sell my route after the merge was finalized and Snyder wouldn't let me. If you get a buyer don't be surprised if they won't interview him. Don't count on being able to cash out. I couldn't and had to take the buyout at ther same ratio I bought the route for.
I had a buyer for my route before we even knew about the merger and Snyder's told me that legally they could not let me sell the route, then I found out they were going to merge...which is fine because the last thing I wanted to do was screw someone, but my whole thing WHY can't they be honest with us just once or communicate even. I have "I don't know or "I don't have an answer" or "I really don't know what to tell you" permently drilled in my head.
Clocker

Wimauma, FL

#1400 Sep 7, 2011
MeMe you wouldn't be screwing someone if you sold the route. All Snyder had to do is match the buyers ratio and resell him the new route at the same. It's a wash whether its at 10-1 or 20-1. For some reason they don't want to do that. Not my problem, not yours. That's why there are lawyers. They are counting on us to just take their shit and not do anything about it. They obviously haven't learned from the last 10 million they had to pay out.
Lightered Knot Enterprise

High Springs, FL

#1401 Sep 7, 2011
Well I screwed up. I was working for the State of Florida as a LEO and was looking for an opportunity as a distributor, I found Snyder's-Lance and all that was presented seemed great. I trained for 2 weeks on a company route and loved it. On 8/15 we went live and it has been nothing but a nightmare. Four weeks in and I am due a check but cannot find out when it is coming or where it is at. Cannot seem to get orders on the same day of the week, and when they do come in are $500-$1000 short from the order placed. Then you have to fill stores with what you have and make it stretch to cover until your next order comes in, the stores call because the shelves are not "full" and the DM acts like it is your fault for not ordering enough when it is his warehouse that does not have what you are ordering and puts it all off on the IO. I have not signed financing papers yet, and have found the loop holes to let me out of the contract on 24hrs notice. As soon as I find another job I am gone. BEWARE if something seems to goo to be true....it is.
what now

Virginia Beach, VA

#1402 Sep 7, 2011
has anyone tried to negotiate a lower multiple for the new routes? it seems like they are really over valueing the new routes so much so that it will be hard to make any money after a very high route payment
northeast snackman

Plainville, MA

#1403 Sep 8, 2011
Lightered Knot Enterprise,

Your situation is harder ordering product vs going to an actual warehouse and grabbing what's there. I know our warehouse guy will short order the IO's who order cause he wants more product for the guys who show up to pick their order.
And with the sales pitch for the Snyders opportunity, you wouldn't have known if it was agood investment or not. On paper Snyders WAS the distributor to work with. Behind the scenes, not so much.
----------
What Now,

Unless Snyders is desperate you will not be abe to negotiate the ratio down. Unless you find out if a DM is running the route temporary and they NEED a buyer. They will tell you Snyders has multiple potential IO's behind you if you refuse the opportunity.
Let me ask you your situation, where you live, the average sales/week, what ratio you are offered, what type of route?
Lightered Knot Enterprise

High Springs, FL

#1404 Sep 8, 2011
A little FYI, if you buy an old Lance/Tom's truck to use someone, more than likely the DM, is getting a commission off of the sale.
Ohio

Bowling Green, KY

#1405 Sep 8, 2011
What are the loopholes please share
Lightered Knot Enterprise

High Springs, FL

#1406 Sep 9, 2011
Well I took a stand today after four weeks without a settlement check when I am due them, if no check today then my truck stays parked on Monday and everyday after until a check comes. They do not seem to understand anything else let me see if they understand empty stores. There are three of us and two of us took a stand. The other one was a company man before IO so he does not want to upset the cart. For me at this point I say screw the cart. I will not be signing any route financing papers anytime soon either. They are going to have to get all of this crap worked out before I sign anything else.

@Ohio: There are multiple was to get out of the contract. If we are under the same one, which I guess we are read Article 14.
dave

Bolingbrook, IL

#1407 Sep 9, 2011
light, you will get yelled at and fired
Ohio

Bowling Green, KY

#1408 Sep 9, 2011
dave wrote:
light, you will get yelled at and fired
Who the he'll are u
Lightered Knot Enterprise

High Springs, FL

#1409 Sep 9, 2011
@dave

They can not fire me, contracts are great when you know how to use them to your advantage. They can yell but I can yell back. I am smart enough and big enough that they do not want to cross me by yelling @ me. I may get scared and feel the need to defend myself.
Just saying

Hanover, PA

#1411 Sep 10, 2011
Anybody know what happened to Barry Sommers? He ran the Miami/West Palm area up until this week.
mass io

Plainville, MA

#1412 Sep 10, 2011
Lightered Knot Enterprise wrote:
@dave
They can not fire me, contracts are great when you know how to use them to your advantage. They can yell but I can yell back. I am smart enough and big enough that they do not want to cross me by yelling @ me. I may get scared and feel the need to defend myself.
----------
Hey, what you're saying is out of anger. And if you were smart you should read your contract or service agreement again. I'm sure there is a clause stating if you jeopardize anything between coporate and store level you will come up empty. Everything is held accountable on the IO and it will be justified to release you. You can go around beating people up, but you will be without a job, a reccommendation, a route and if you bought a route you will still have a note!!
Understandibly we are all agered by this merger-transition. There are thousands of IO's across the country who feels the way you do. People should have been proactive instead of reactive, and they would have been alot better off. Just saying
SpaceIO

Dallas, TX

#1413 Sep 10, 2011
What is your 24 hour loophole? My checks seem to get lost in the mail too. What are they doing? Tampa Guys have closed maybe they have some info for us. But the guys who lost their livelyhood by getting the boot have yet to get money from Snyder's for their "buyout". What's going on? They don't even know how much they are getting. Im shocked no one has called the State or an attorney to complain.
Lightered Knot Enterprise wrote:
Well I screwed up. I was working for the State of Florida as a LEO and was looking for an opportunity as a distributor, I found Snyder's-Lance and all that was presented seemed great. I trained for 2 weeks on a company route and loved it. On 8/15 we went live and it has been nothing but a nightmare. Four weeks in and I am due a check but cannot find out when it is coming or where it is at. Cannot seem to get orders on the same day of the week, and when they do come in are $500-$1000 short from the order placed. Then you have to fill stores with what you have and make it stretch to cover until your next order comes in, the stores call because the shelves are not "full" and the DM acts like it is your fault for not ordering enough when it is his warehouse that does not have what you are ordering and puts it all off on the IO. I have not signed financing papers yet, and have found the loop holes to let me out of the contract on 24hrs notice. As soon as I find another job I am gone. BEWARE if something seems to goo to be true....it is.
Clocker

Wimauma, FL

#1414 Sep 10, 2011
"Tampa Guys have closed maybe they have some info for us. But the guys who lost their livelyhood by getting the boot have yet to get money from Snyder's for their "buyout". What's going on?"

That's not true. We were told at the end of June who would be getting new routes and who would not. July 24 was the date they said we would turn in our routes. We did and shortly after that my old DM called to ask me to come in and sign the sales agreement. I looked it over, it was pretty basic and the figures were right according to the contract. I signed. The agreement stated I would get my buyout in 30 days. It was direct deposited to my account 6 days late on Aug. 30.
SpaceIO

Dallas, TX

#1415 Sep 10, 2011
Wow that will be great news for the Orlando guys who have not got their money yet, nor have they signed a sales agreement. So what I said is true...but not in Tampa. Its been 6 weeks for them without any money. Some guys need their equity to buy a route with another company.
Clocker wrote:
"Tampa Guys have closed maybe they have some info for us. But the guys who lost their livelyhood by getting the boot have yet to get money from Snyder's for their "buyout". What's going on?"
That's not true. We were told at the end of June who would be getting new routes and who would not. July 24 was the date they said we would turn in our routes. We did and shortly after that my old DM called to ask me to come in and sign the sales agreement. I looked it over, it was pretty basic and the figures were right according to the contract. I signed. The agreement stated I would get my buyout in 30 days. It was direct deposited to my account 6 days late on Aug. 30.
Clocker

Wimauma, FL

#1416 Sep 10, 2011
If they haven't been offered a sales agreement to sign in 6 weeks something is wrong. I suggest calling Earl.
Yaz in Florida

Hialeah, FL

#1417 Sep 11, 2011
Just saying wrote:
Anybody know what happened to Barry Sommers? He ran the Miami/West Palm area up until this week.
He resigned and has become an IO for S-L.

Don't ask, I won't tell you where.

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