The company will provide the necessary facilities for teaching, but the instructors will be independent flight trainers with advanced aviation backgrounds. Our competitive advantage will be that we are a small company that offers a personalised service. Our future goal is to acquire more aircraft for rentals and commercial use.
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Lol, I usually say this when a business is a little bit capital intensive albeit profitable. As a private jet charter company, you have to know who your customers would be. Your customers would be: Starting a Private Jet Charter Company — Your Target Customers Rich Business executives who prefer to fly private so that they can hold meetings on board, go from state to state, country to country and just attend to their busy schedules easily without stress.
Companies who want to transport a large number of their staff. Celebrities who desire privacy and secrecy. Event management companies organizing A-list events, weddings, etc.
Tourism planning and management companies. Football clubs to transport players and supporters.
The list is endless; with extensive research, you would be able to identify people that are in need of such services. Now, this kind of business is highly technical and you would need extensive research and knowledge to start this business.
First, you need to study the air charter industry to understand the laws, rules and regulations guiding the industry You should spend at least three months learning about the industry before venturing into the business; why? Because a lot of wealthy people have hurriedly ventured into this business in the past but failed and considering the fact that this business would suck up quite a sizeable amount of capital; you cannot afford to take fail.
So, here is how to start your private jet charter company. Decide on a niche-: Do you want to rent out your aircraft regularly or do you want to lease it out for long term use? This is the first question you should tackle.
You should also look at your pocket to determine how many jets you can afford in your fleet.
Write your business plan -: Because of how capital intensive this business is, you might need to seek extra financing and that means you would need a well written business plan for that. Before you write your business plan, do a proper research and feasibility study to find out how viable the business is.
Yes, people hire private jets but what is the percentage of people that do? How often do they do?
How long would it take to recoup your investments? What are the equipment, tools and resources you need? What are the taxes and levies you would pay and how much expenses would you undertake on average? What are the challenges facing people in the industry? Research your competitors -: You should also spend time learning some vital information about those already in the business and how they make profit, the challenges they face; just generally do a SWOT analysis of the business using your competitors as case study.
Purchase your aircraft s -: Now this is most important part. This means that you own the jet along with others and it would only be released for your use based on specific agreement. It helps to reduce the costs of owning and managing an aircraft but has its own challenges, the biggest one being the availability of the aircraft at all times when you need to serve your clients.
If you have solid financial standing, you can always approach your bank for a loan. Another idea is to look for someone with similar passion and business interest and then pool resources together and start the business.
Understand the financial implications of the business-: Some of the financial factors of the business would include-: The cost of the aircraft-:Or you need a sample flight school business plan template? If YES, then i advice you read on. If you asked an average person whose dream is to become a pilot, chances are that he or she is fascinated at the way airplanes moved up in the sky before the ambition came about.
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