Like many Aussies working in the trucking industry, Paul Sumner has been in the game for a long time.
In fact, after 25 years running transport companies, he probably knows more than most when it comes to starting, running, and selling transport businesses. Proving that there’s always more to learn, it was only 12 months ago that Paul found out about GoGetta. And he hasn’t looked back since.
“Back in the day when I was younger I had alcohol contracts, then sold that company when I moved to Port Macquarie. I started up another business, sold it, and took some time off.”
His most recent venture is just over a year old, working with Coles Express and alcohol companies in the Sydney metro area. He has also taken on board several sub-contractors.
However this time, Paul decided to try things differently. Rather than go down the costly and time-consuming route of traditional lenders, he thought he would scope out what other options were out there. Searching online, he came across Stratton Finance, who offered up the GoGetta solution.
“I have never used a company like GoGetta before,” says Paul. “Previously I had used the big banks, or purchased trucks outright.”
It was the perfect fit. Paul was looking to branch out from transport into construction, but didn’t want to commit to the cash outlay before he knew it was going to work. Through GoGetta, he was able to road test (no pun intended!) new machines and vehicles with the option of returning them when he wanted to without penalty.
“It’s your call,” says Paul, “you get the budget given to you, so you can purchase what you need. And that’s how I’ve been able to try new things.”
The flexibility of GoGetta was the icing on the cake for Paul, who was attracted to the instant nature of the program. He was blown away by just how quickly he was able to get set up.
“The process is quite quick. It was just the matter of a phone call and GoGetta came back and said – yep, approved, and I went and got the truck! It was a very quick turnaround.”
For Paul, it meant being able to say ‘yes’ to new opportunities – such as construction – straight away, without waiting for lengthy red tape or bank approval.
“The good thing is I’m not purchasing a truck and then chasing new contracts,” points out Paul, “I can chase the contracts, start straight away, and then look to purchase down the track if it all works out.”
No wasted time, no wasted money.
After so many years as a business owner, Paul was also impressed with the way the GoGetta solution benefits small business owners. Not only does it avoid massive cash outlays and depreciation losses, the regular payments are an ongoing tax deduction.
“Purchasing a truck, you can only claim that on your tax as a write-off once, on depreciation, that’s it,” explains Paul.
“But with GoGetta, you can claim that with every payment, which makes a big difference when you’re a small business.”
Even for an experienced business owner, Paul still encountered difficult moments, payment terms of his clients being the most challenging. With many contracts paying on a six-week payment cycle, Paul needed to reshuffle some of his payments.
“The best thing with GoGetta is their flexibility. You can talk to them, and ask for a week’s grace…they have even offered me an extension before to help me meet my payments.”
The support from GoGetta was critical for Paul in the early days; and he says that provided you are honest, GoGetta will always go out of their way to help.
“As long as you don’t put your head in the sand and panic, and you call up and speak to GoGetta, they are very understanding.”
Looking forward to the future, Paul says that he will be staying with his current company for at least five years before looking to sell and start again. He’s excited that this time around, he’ll have the flexibility to explore new fields through the flexibility of GoGetta.
“Renting through GoGetta is a great option,” says Paul. “At the end of the year, if you’re not happy, you can give it back. You can weigh up the options and if for any reason it’s not working, you can get rid of it or change trucks.”
Paul is just one example of established Australian companies finding new ways to shape and grow their business.
Learn how GoGetta can help you and your business with our range of tools.