Thinking About Buying and Selling Jets? Then Read This!
A Gulfstream G-400 during takeoff (Photo credit: Wikipedia)
Business-minded people eye aviation as a lucrative ground for profitable investments. They would see airplanes, jets and helicopters as flying money-making machines they could make profits and help them achieve their business and financial goals. This business path, however, is not always smooth; it also has rough parts where the challenges of every entrepreneur take place.
As an entrepreneur, I would say that there is neither perfect industry nor perfect businessman. But there are many business options where we can find ideal for our set of skills and interests—domains where we can excel and be successful.
If you were passionate about airplanes or jets and you would like to venture into trade-a-plane or trade-a-jet business, you will be on the right track. Venturing into buying and selling jets involves a taxing process. Learning how to navigate in this industry is a requirement; otherwise, you will lose your investment and end up with nothing but an empty passbook.
While this business demands huge investment, you must start it right. You can’t venture into something you totally don’t know, so it is important that you have studied the complexities of this industry. And when you are done with your homework, get ready to find and see your place in the market.
Aviation is a lively industry but without knowledge, don’t expect to succeed. From the simple single-pistoned planes to the turboprop twins to the executive jets, you need to learn about your products. Whether you are trading or selling refurbished or brand new models, you have to know where to find them, how to get them and see if you had the right platform to market them. But also make sure you do the following when you are buying your planes and jets.
The Clientele. Each client will have different needs, purpose and purchasing power. It is better you have already prepared to cater their demands in order not to throw them away to a competition.
Find a Plane or Jet. Consider hiring someone with vast knowledge on planes and jets, or tapping a broker’s service. But if you would like to save on that part, check out on the Internet for reliable aviation resource, like Trade-A-Plane, where you can find new and used aircrafts.
The Transformation. Do it a little makeover. Transform it to a more alluring plane or jet to add to your already strong marketing and selling strategy. You can check out on latest interior designs and other promising features from the experts.
Overall Conditioning. This is crucial when you are procuring the plane or jet. You can’t afford to lose on massive repair expenses in the future. Before selling it, you also need to ensure the safety and protection of your clients. Make a thorough inspection.
The Test Drive. If buyers would spend more than a million for the plane or jet, it is only necessary that they would need a pre-sale spin. Usually, this is already part of the deal. A flight is expensive, therefore it should be a paid privilege.
Cost Analysis. We can’t deny that planes and jets cost millions. And when you are doing business, you would ensure you would gain profit. So, evaluate your overall expenses before trading or selling it.
The Maintenance. While your planes or jets are still waiting for the right buyer, maintenance is of utmost importance. Make sure you have a team that would always focus on this aspect of the business.
The Legal Protection. Just to make sure your business is protected and that you are not going to violate any of the aviation-related laws, you need to get legal advisors to guide you on the paperworks and handle the legal side of your business.
Venturing into this industry can be very tricky. But if you were prepared and backed with knowledge, inspiration and the determination to win, you will surely prosper in no time.
Brandon Peters is an entrepreneur, writer and a travel, gadgets, health, and outdoors enthusiast. He loves sharing his insights, knowledge and experience in different fields. You can follow him through Facebook, Twitter and Google+.
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Category: Business
