Quote:
Originally Posted by 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.
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)