Is There Life After Wall Street? Workers Find New Routes to Success

New York, NY (PressExposure) September 17, 2009 -- From: Jeffrey Sussman, Inc. Marketing Public Relations 249 East 48 Street FOR IMMEDIATE RELEASE New York, NY 10017


Contact: Jeffrey Sussman 212-421-4475 []

Wall Street has dispensed with more than 250,000 jobs, leaving many former employees bereft of a livelihood. The vast majority cannot find jobs in the financial services sector and are without the skills and backgrounds to move into other areas.

One former financial analyst and advisor with Ameriprise, a division of American Express, who had worked for a virtual who’s who on The Street for a period of nearly 30 years, has found new life owning a distribution route. Frank Magnetico’s resume had looked like a compilation of today’s banking headlines.

“It’s history now. In 2008, when I finally left The Street, I had had enough,” said Mr. Magnetico from his home in Plainview, Long Island. “I wanted to be my own boss and not be a dispensable pawn of wheelers and dealers.”

Mr. Magnetico read a newspaper ad placed by that offered budding entrepreneurs opportunities to own already established route distribution businesses. He called and was pleasantly surprised to be speaking to an old friend, Gene Marcello, a business consultant with, who suggested that Frank come in to the firm’s Great Neck offices to discuss his goals and financial needs.

“I learned of various established distribution routes and ultimately decided to purchase a FedEx route not far from my home,” said Mr. Magnetico.

Mr. Magnetico purchased a FedEx route with a protected territory, which was a turn-key operation, including a truck and training. He works five days a week.

“I’m my own boss; I earn good money; I don’t have to commute into Manhattan anymore; and I can spend plenty of time with my wife and son and play golf on the weekends. Buying a route has proven to be an excellent investment, for I’m building my own business; and in a number of years, I can sell it. In fact, from now on, I’ll decide when to leave. That decision won’t be made for me. I’m controlling my own destiny, and I like that feeling.”

Another former Wall Streeter found a second career after buying a Mr. Softee route. Bill Sonner had been a partner and market maker for twenty-one years with an old-line Wall Street firm, Vander Moolen, which was bought by Lehman Brothers. And we all know what happened to Lehman Brothers: it no longer exists! Out of work and unable to find another position with a financial services company, Bill took a position as a senior manager with a large semiconductor company, but that company was taken over and Bill found himself unemployed yet again.

“I wanted to be my own boss and not rely on the whims of the marketplace and bosses, I was searching the Internet one day, and I came across I shot off an e-mail, received a reply, and made an appointment to meet with a business consultant named Lou Sommer. We discussed various options and after much discussion, I decided to buy a Mr. Softee route, and it’s been an absolute pleasure. I work from the middle of March to the end of October, from about 1 PM to 9:30 PM. On non-school days, my two teenage kids often accompany me, and they love it. I have my own territory in the Five Towns on Long Island. I get involved in charity events and street fairs. I never had such a good time earning good money. It’s one of the best things that I have done, and it still leaves me plenty of time to be an independent financial advisor, so I now have the best of both worlds.”

A third former Wall Streeter, who had worked for one of the largest brokerage companies and who had carried numerous co-workers to safety from The World Trade Center on September 11, recently found himself unemployed along with thousands of others. For a number of personal reasons, he asked that his name not be included in this article. In his early forties, he was still ambitious and determined to find a new career. He read an ad in a local newspaper that seemed promising. It was for his own business, an established distribution route that promised to generate more revenue than he had been earning on Wall Street.

He phoned in Great Neck, Long Island. There he spoke with one of their business consultants, Peter Scherer, and then the company’s president Kenneth Sussman.

Mr. Sussman explained to him “that many people do not realize that distribution routes have been bought and sold for over 35 years, and RouteBrokers has been making a market in such routes for more than 25 years.”

He and Mr. Scherer further explained what it means to own a distribution route and then invited him in for a more extensive conversation. After more than an hour of discussing the various opportunities and requirements of a wide array of available delivery routes, including Tropicana, Snapple and FedEx., Mr. Sussman and Mr. Scherer suggested that a good match might be a Boar’s Head provisions route.

“He was an ideal candidate to own that route,” said Mr. Sussman, “for he has the necessary drive, knowledge, and energy. For every Boars Head route that we have for sale, only two out of every forty applicants prove to be qualified buyers.”

He had to decide if he wanted to take advantage of the available owner financing; but because he had been carefully saving for the day when he would purchase his own business, he decided that owner financing was not necessary.

Upon completing his purchase of the Boars Head route, he owned exclusive rights to protected stores on his route as well as a 16-foot refrigerated box truck and a sophisticated computer system. He immediately started making more money than he had on Wall Street. He not only serviced the customers who were on the route when he purchased it, but he added many new customers, retailers as well as large institutions.

“Buying a route was the best investment I ever made. Unlike stocks, its value doesn’t go up and down, it just goes up,” he said. “And I’m building equity in this business, so that I will be able to sell it at a profit sometime in the future. was instrumental in helping me achieve success. I no longer have to worry about being laid off, or seeing my company fall victim to the ups and downs of a changing economy. I have told many of my former colleagues who have been laid off on Wall Street, that there is indeed life after The Street. People from all walks of life can successfully profit from owning route distribution businesses. Buy an established distribution route, be your own boss, make money from day one, and enjoy life all over again.”

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Press Release Submitted On: September 16, 2009 at 12:14 pm
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