Jason Fox is well known to the New Zealand trucking industry as the Bay of Plenty branch manager of Credit One, as well as his past roles in truck sales with Trucks & Trailers and Penske. Now, after four years financing trucking companies, Fox has expanded his expertise to include business brokerage.
With a specific focus on trucking and transport-related companies, Fox says it’s his experience of valuing and selling trucks, his understanding of spec and value, and knowing the ins and outs of transport that set him apart as a business broker.
“After four years in finance looking at financials daily, I’ve seen the difference between a good and a bad business, those that are struggling and those that are profitable, especially regarding transport because that’s what I specialise in,” he says.
Fox is REA-licenced and works with a network of specialists to ensure his clients’ businesses are ready for sale – and that they don’t regret the decision.
“I can work with business owners to get their companies ready for sale. People also might not realise their business isn’t ready for sale. Do you have all the processes in place? What are your financials like? Is your business solely reliant on you, and will the business stand on its own feet with other management structures in place? These are things I can help people work through now if they want to sell their business in two or three years’ time.”
For those who want to sell their businesses now, Fox can do an evaluation, find interested parties, and discreetly negotiate the in-between.
Given the current constraints and delays with the delivery of new trucks, Fox suggested buying trucking businesses was a good way to expand fleets. “If you’re looking to expand your business now but are struggling due to the current short supply of trucks, you can buy a business, add in maybe a little bit of goodwill, and have the trucks, the staff and the work that goes along with it.”
While many business brokers sell many types of businesses, they might not fully understand transport. “I’d like transport operators to think, ‘I want to sell my business, Jason understands it.’ ‘I’m looking for a business. Jason understands it’,” says Fox.
Contact Fox at jason@vosperrealiy.co.nz or jason@creditone.co.nz, or 021 369 015 or 0508 300 500.
