John Fair’s professional journey began in high school when he worked summers at his father’s gasoline and propane business in Louisville, Miss., as a “grease monkey,” earning $20 a week. Initially employed at a lumber company, his father started a small distributorship called The Fair Oil Company near the mill in 1934, which became the family’s first company. When John’s father served as a medic in WWII, his mother ran the business with one loyal truck driver, embodying the company’s family-like atmosphere.
After graduating high school, John attended the University of Mississippi for a semester but didn’t excel. His father, recognizing John’s need to grow, gave him two choices: work with him in the family business and wait for the Vietnam draft—or enlist. John chose to enlist in the U.S. Navy and spent almost six years on a WWII destroyer. During his time in Jacksonville, FL, he met his wife, a native of Oxford, Miss. They have been married for 51 years, and they laugh that he had to go through 6 years in the Navy and go to Jacksonville, Fla., to meet a girl from Oxford.
Returning to Louisville and Taking Over the Family Business
After completing his military service, John returned to Louisville to start his family. He then enrolled in Mississippi State University through the GI Bill to study electrical engineering. When his father passed away, the family’s accountant, Mr. Chapman, who had been managing the family’s business, bought the gasoline business and took over the day-to-day operations of the propane business.
Faced with the decision to pursue an engineering career or return to the family’s gasoline business, John thought and prayed long and hard before making his choice. He says that advice from an MSU professor was critical when he weighed the prospect of an engineering career against the opportunity to run his family business. “Why spend years working your way up through management in someone else’s business when you could manage your own?” the professor asked him. He returned to Louisville to run the propane business for his mother.
In 1977, an unusually cold winter created a shortage of propane. John secured a set-aside contract with the government, ensuring his firm could supply local businesses with propane. That year, the business saw unprecedented profits. John purchased the company from his mother and decided to separate it from the propane business, moving into self-service gasoline stations, a strategic decision that fueled years of growth.
Building a Business Empire with His Son
Over time, the company expanded into high-volume self-service stations, becoming a prominent regional player. John saw potential in a vacant dealer station from his high school days and reopened it as a self-service location. He partnered again with Mr. Chapman and welcomed his son, Johnny, into the business. The business expanded to three locations under the partnership before they bought out Mr. Chapman’s share—and repurchased their old gasoline business from him as well.
John and his son built their first large-scale convenience store fifteen years ago, marking a new chapter for the company. With the gasoline business growing faster than propane and drivers becoming scarce, they eventually sold the propane business and focused on expanding convenience stores. With his real estate background, Johnny helped scout and purchase more locations, including a significant deal involving ten stores. Johnny’s patience and negotiating skills were instrumental in this acquisition, and he eventually became part owner, taking over day-to-day operations as president.
Today, John’s role focuses on handling special projects while Johnny manages the company’s growth, including their first out-of-state convenience store purchase in Alabama. John remains proud of his son’s leadership, noting, “He’s done awfully well, and I am very proud of him.”
The Fair family’s business has evolved from a small gasoline distributorship to a multistate operation while maintaining the core values of hard work, dedication, and family that have guided them for generations. These experiences laid a strong foundation for his later transition into angel investing.
Transition to Angel Investing
John has a wealth of experience, from traditional manual accounting methods to digital systems, shaping his role as an angel investor. He is not only focused on providing financial support to startups but also dedicated to enhancing mentorship for founders.
Beyond his business expertise, John’s dedication to supporting Mississippi’s entrepreneurial ecosystem is evident in his efforts to commemorate the Rotary Club’s centennial year and spread vocational tech programs across the district. His enthusiasm for investing in and mentoring startups, like Lobaki, reflects his commitment to fostering innovation.
After leading his family business, John shifted his focus to helping to lead Mississippi angel investing. In 2017, he joined and eventually became the President of the North Mississippi Angel Fund. He’s now spearheaded the newly launched Mississippi Angel Fund. In a recent meeting, John discussed his involvement with RebornC, a Mississippi-based high-tech startup focused on addressing climate change and building energy security and resilience. RebornC is preparing for its fundraising efforts by the end of the first quarter of 2025, which will enable them to scale up and commercialize their breakthrough technology in industrial electrification.
John is actively recruiting new members for the Mississippi Angel Fund to expand its investment capacity and expertise. His vision for the fund includes increasing membership to 30-40 individuals and enhancing startup mentorship opportunities by offering board positions and observer roles. John plans to lead monthly Zoom & in-person meetings for the Angel Fund to foster the group’s social aspect while enhancing its investment efforts.
A Bright Future for Mississippi’s Startup Scene
John Fair has been an incredible asset to Mississippi’s startup ecosystem. Aside from his leadership in angel funds, John is one of Innovate’s most active mentors in Innovate’s CoBuilders Accelerator, further demonstrating his dedication to building up Mississippi. He looks forward to hearing pitches from all 2024 CoBuilders participants at Pitch Day and looks forward to reconnecting with other investors during Innovate’s Accelerate conference on November 19th. Whether recruiting new members to expand investment capacity or supporting startups through mentorship, John ensures that Mississippi remains a growing hub for startup growth.
As John continues to build and support the startup community, his vision for angel investing, mentorship, and his family’s business legacy make him a pillar of Mississippi’s growing startup ecosystem. Innovate Mississippi celebrates John’s contributions as he paves the way for future startups and growth in the state. Looking back on his exciting journey with the North MS Angel Fund, John said,John said, “I’ve learned so much from my fellow members. With no prior experience in venture investing, I relied on their expertise to understand how to evaluate promising startups. I’m proud to say that we recently completed our investment portfolio, surpassing $2 million in diversified investment.”
