On The Business Side Of Things - What Would You Re-do?

[mountainflier]

Hey there!

 

Well, I hope this is a new topic. Cause if it isn't, then I was searching in the wrong forum again. No surprise there.

 

As I investigate the herculean effort of starting my own charter / tour / exec taxi service, I am really interested in your thoughts on something specific.

 

What have you experienced as the owner/operator that you wish you could go back and re-do?

 

OR

 

Most of us probably fall into the second category which is the observer (or the person that ended up paying for the boss's screwup). Of course, the boss maybe did something amazing that all owner/operators should do.

 

What are your thoughts / experiences / stories?

 

Scope of the business: single Astar operation in the Rockies (US) with one tenured pilot and one that will be ramping up.

 

Thanks so much.

[helipinch]

You CAN make a small fortune..... if you start with a large one!!!! :prop:

[kjw57]

If you can don't lease, own, or at least lease to own...Know your market, know your customers, and good engineering support can go a long way towards being profitable.

[mountainflier]

If you can don't lease, own, or at least lease to own...Know your market, know your customers, and good engineering support can go a long way towards being profitable.

 

kjw57,

 

AMMMMAZING!!!!! How did you know that leasing was one of my questions? My initial plan was to own (thus I become best buddies with my banker). Did you have a bad experience leasing or know someone who did? I know of some drawbacks, but what have you seen? Everyone pushes the lease for the tax right-off. But there are ways to work that on the lease to own and ownership as well.

 

I can certainly see the benefits of profitability on the ownership side if I can pull it off on the banking side. Plus, by owning you get to customize and keep it.

 

Anything else you can think of?

 

Thanks again!

[kjw57]

Aside from the running battle over who pays for what within the lease, there is zero accumulation of equity. It's better to own part of something than all of nothing so perhaps syndicating the purchase of an aircraft would work for you. Purchasing an aircraft within a seperate corporate entity that issues shares to participants based upon their level of financial involvement..Depends upon your comfort level with partners.