The aviation industry is becoming one of the biggest businesses in the world. With so many people travelling abroad or overseas, there is no doubt that this would be a wise investment. So if you enjoy travelling—whether as a pilot or flying as a passenger, there is no better time than now to turn this passion into a business Now, the big question is—how do you start? What type of aviation business is the best for you? Here are some of the many options you have:
- Private jet charter
The aviation industry is a booming business, employing more than one million Americans and generating around $200 billion in annual economic activity. Are you ready to steal the spotlight? As your business grows, bear in mind that more and more people will turn to you when they need to travel overseas. There is more comfort and convenience—not to mention luxury when using a private plane, as compared to commercial.
- Aircraft management
This can be a good start-up business as aircraft requires proper maintenance and overhauls. Many airlines and privates owners prioritize and invest on this. The first few months might be a little challenging, but once you figured out how the cash flows, it would be easier for you to grow. There is just so much money to be made in the business. The best thing about this and that the capital isn’t that big, and you don’t need much experience. Since you’re not flying the plane and you focus on maintenance, there are only fewer risks involved.
- Flight school
Running a flying school is also a good idea. There’s just a lot of paper-works you need to take care of. If you think you have enough knowledge and experience, it may be the right time to share it with others. Starting a flying school may require bigger upfront money, but the profit potential is huge as well. You also need to find the best staff and equipment to stay on top. This will be the backbone of your business. Other aviation small business ideas include aircraft sales and leasing, promotional events, and many more.
There are many other opportunities in the aviation industry. Just any other business, you need to weigh your options to make better decisions. Consult a financial expert and legal advisers.