Private jets are great for business, but what if you’d like private jets to be your business?
The luxury and efficiency of jet travel isn’t just appealing to individuals and savvy corporations; it’s also becoming a viable business model. Entrepreneurs are embracing the uptick in popularity of chartered jet services by building businesses in this growing arena.
Although the dream of operating an airline might seem far-fetched, with a focused plan, this dream can become a reality. Here are a few important things to consider before starting a private jet charter service:
- Business model — What type of service would you like to offer? Who will be your main customers? The answers to these questions will determine whether you need to invest in top-of-the-line jets with all the amenities to cater to CEOs, politicians, and celebrities, or put your money toward reliable planes that simply offer a quick way for ordinary travelers to bypass the hassles of commercial flight.
- Funding — Think about how much capital you’ll need and how you’ll acquire funding to start your business. A small airline will require a large initial investment to purchase planes, hire experienced pilots, and begin marketing efforts to attract customers.
- Paperwork — You’ll need to incorporate your business, registering as either an LLC or General Partnership (assuming you aren’t the sole financial investor) as well as file paperwork with the Federal Aviation Administration (FAA).
- Specs — Finally, you’ll need to research and begin the process of purchasing aircraft. Based on your determined business model and budget, you’ll be deciding what types of jets are the best fit for your service: budget or luxury; large and economical or small and intimate; and new or pre-owned.
Taking care of all of these details for one jet can be complicated enough; purchasing multiple aircraft presents a host of hurdles. To ease this challenging task, seek out the services of a broker who specializes in jet sales. With their experience and knowledge of the market and industry, good brokers can help you invest wisely in the best aircraft for your new business.
Make your first business move a smart one: Get help finding your fleet of jets from a professional broker with experience.