BlakeD

Hello Everyone. I'm new to the site so forgive me if I'm posting this in the wrong place. Looking for some ideas and tips on a business venture I'm looking into. I'm considering starting a small aircraft rental service in my area. I've talked to several renters, students, and instructors,,, all agree the area is lacking a reliable aircraft for rent. There actually isn't a twin available for rent, only singles. I'm considering the 172 and Seminole as the 2 aircraft I want to start with, I've had good luck and experience with both. I also feel that I can keep within my budget with these two aircraft, so the financial side is covered. And yes, I know it takes 2 million to make 1 million. Just looking for some positive advice and tips on this idea. Thank You.

N9373M

Make sure the a/c are maintained properly, databases up to date, etc. I've seen guys spend 10K on a paint job and leather interior, but did not touch the avionics. That lease back did not end well. Price competitively, allow for overnights/extended trips (i.e. 3 hr min/day).

I can rent a meticulous 172 for about 145/hr or drive up the road a piece and rent a ragged out Arrow retract for the same. The ragged out 172 "up the road" is about 120/hr. I'm in the Columbia, SC area.

Good Luck

73M (club member, owner, and now renter)

Flyhayes

Usually there is a reason that "reliable" rental aircraft are difficult to find. Running an aircraft is very expensive, with close to 90% of the rental cost being overhead. Be prepared to pay close to $12,000/yr for insuring the twin... The single engine could run you close to $6000/yr... Don't forget that you need to perform 100hr inspections in addition to the annual. Then you might have the local competition undercutting you with their less than stellar rentals.

It's a labour of love that will become like a second job to you if you are commited to keeping your costs down.

PM me if you want to know more about the joys of running an aircraft rental business.

OnCenterline

I would seriously re-consider trying to rent twins. Most pilots don't have an ME rating, and getting insurance as the owner to lease one, and as a renter to rent one, especially solo, are both expensive. Further, the performance of a Seminole isn't usually enough to entice a renter into renting one over something like a Cirrus.

Even in the hey-day (which wasn't all that long ago), twins on the rental line rarely flew. I can't imagine that has improved, and a sitting plane is an expensive plane. Besides, most potential airline guys/gals are going to go get their time at All-ATP or something similar.

If you want to rent two planes, rent two singles, if for no other reason than you'll be able to stagger the 100 hour inspections and keep one available.

Finally, if something breaks, fix it right away. It will be more expensive, but it will say much for your customer service skills.

Just food for thought.

paintyourjet

Unless your real familiar with the aviation business, your guaranteed to loose your shirt....that also goes for any business, gotta know the stuff real good.

BlakeD

Thanks for the advice. I failed to mention that I did plan on purchasing only one aircraft at a time. With the feedback so far I think the twin would come later, if it comes at all. I don't think I'll become a millionaire at this, but I think its worth a try.

chrisbuck243

Awesome to see someone willing to give it a shot. What part of the country are you in?