Fuel cards are the way your drivers will pay for fuel (if you enroll in a fuel card program). These cards look like a credit card, but there are important differences between a fuel card and a credit card.
In our experience, the salaries and wages (payroll) in a FedEx Ground route business cost between 40 and 50% of total business revenue. This is the largest line item expense in your profit and loss (P&L) statement. It’s no wonder then that many prospective business owners want more details about how drivers get paid.
On occasion existing managers choose to leave their position when a sale is in process. They may have stayed only to help out the previous owner or they may be looking for new work with someone they already know. Whatever the reason for their departure, it can add stress to the transition.
The route and trucking industry in the United States is in the midst of a severe employee shortage. The American Trucking Association (ATA) noted a shortage of 50,000 drivers at the end of 2015 and predicted that shortage would increase to 174,000 drivers by 2026.
You are charging FedEx for your services. You will negotiate each of the following ten charges with FedEx. All of these charges combined account for money flowing into your business. It’s critical you understand how and when those charges occur. And how you can increase your cash flow! Following is a quick overview of the charges you will negotiate as part of your Independent Service Provider (ISP) contract.