Multi Engine Risk Pool - Input Needed
Okay so here's my plan:
Buy a 1980 Beech Duchess. $95,000 with 15% down = $81,000 financed.
Monthly payment = $782. Insurance = $1,000/month for a total of $1,782 per month.
Engine Overhaul = $56,000/1,700 hours = $33/hour
Prop Overhaul = $8,000/1,700 hours = 5/hour
Maintenance Reserve = $50/hour
100 Hour = 20/hour
Total Variable Cost / Hour = $108 with markup = $117/hour dry rate.
I would market to between 3 and 5 flight schools. They bring in the students and pay $500/month for a 'subscription' to multi-engine access as well as my hourly rate of $117 tach time and then bill their own rate (wet or dry/hobbs or tach). I get first dibs on their multi engine students as the MEI and they get access to a twin without having to worry about utilization/insurance/maintenance on their own.
Thoughts? Concerns? Critiques? I really want to launch this idea but not sure what sort of market is out there for multi engine training.