Selling a route is not an easy task. Finding a qualified buyer for your course is the most challenging part. IDA is proud to assist route owners in finding qualified buyers. When searching for a buyer, we use the following steps.
Step 1 – Creating Awareness
We create awareness about the route that is available for sale as the first step in finding buyers. We make a route listing and advertise it online to let potential buyers know that the route is available. We use all marketing tools available and contact anyone who is interested in purchasing the course. The goal of awareness is to create interest in potential buyers.
Step 2 – Qualifying potential buyers
Once anyone expresses interest in the route, we start the qualification process. The qualification process begins with the signing of a nondisclosure agreement (NDA), which stipulates that any potential buyer will keep the route’s details confidential. After this is done, we begin to discuss the details of the course and how it works with potential buyers. We do our best to give them as much information as possible to help them make informed decisions about the route. Once we have established that the buyer is qualified to purchase the course, we verify that they are financially stable.
Step 3 – Connecting Buyer and Seller
IDA offers consultation to both buyers and sellers of routes. However, potential buyers are able to meet the seller only after they have been deemed worthy of the purchase. Both parties can discuss topics such as route schedules, significant accounts, sale prices, and other pertinent issues. They can also visit the route together.
Step 4: Negotiating the Purchase Price
We believe all information we have provided to the potential buyer, along with discussions with the seller and the ride-along, would suffice for him to make his final purchase decision. The potential buyer can send an offer directly to the seller or through IDA once the decision is made. Both parties are supported throughout the negotiation process. Once an agreement has been reached on the purchase price, we close the deal.
Step 5 – Closing of the Sale
The company that is associated with the route will handle all paperwork necessary for the purchase. After all, paperwork has been completed; financing can be approved. IDA makes sure that the buyer is ready to close the deal. We close the contract only if we are confident that the buyer has all the necessary information. After the sale is completed successfully, the IDA commission becomes payable.
Rick Coomer, a National IDA financial expert, provides services to customers in the fields of insurance and independent route management. His expertise is in analyzing economic trends and recommending the best ways to protect yourself against any legal action.