Starting a flight school.

[Rally]

I live in Florida. Recently somebody brought up the idea of starting a flight school on the airport. The airport is about 20 miles outside of city. The question is what am I looking at for a rental airplane? I am thinking a 4 seater like a C172 or a warrier. I will be selling a older C-172 to purchase this airplane. What would be made off of the airplane? Anybody ever done this? I know say say the best way to get a million in aviation is to start with 2 million. What curriculum should I use? The only reason I'm thinking about this is that recently a busy flight training airport closed (to build houses) and moved almost a hour our of the city. I also have the equity. The plane I'd be selling would be payed for so right off the bat I'd be making money.

Thanks

 

[NW_Pilot]

I live in Florida. Recently somebody brought up the idea of starting a flight school on the airport. The airport is about 20 miles outside of city. The question is what am I looking at for a rental airplane? I am thinking a 4 seater like a C172 or a warrier. I will be selling a older C-172 to purchase this airplane. What would be made off of the airplane? Anybody ever done this? I know say say the best way to get a million in aviation is to start with 2 million. What curriculum should I use? The only reason I'm thinking about this is that recently a busy flight training airport closed (to build houses) and moved almost a hour our of the city. I also have the equity. The plane I'd be selling would be payed for so right off the bat I'd be making money.

Thanks

Not sure if you have ever run a biz. before but you forgot to mention your overhead! Rental of an office or place to hold ground lessons, Insurance, Maintenance, Parts, Etc.

 

[Rally]

Maintenance would be done by approximately 3 different independent mechanics I would be on hand to give a hand. I happen to live on the airport for now. Office space will not be a problem. This is going to start out as a small operation probably one airplane, then maybe some leasebacks.

 

[navigator72]

What will set you apart from the others?
Can you survive financially with a solid week of IFR (no flying)?
Are students allowed to rent planes for pleasure flying?
Can you offer a competitive rate?

Have you checked insurance rates?

If a student bends the nose gear can you afford to be out of commission till the plane is fixed?
If the plane is out of commission, How do you plan on keeping the current students and renters happy?
How much profit is there in an hour of rental?

Not for me, but good luck if you try it.

 

[JediNein]

Insurance is your number one asset. Have too many problems and you won't be able to get insurance. Then you will not have a flight school.

We pay our bills on the flight instruction, not the aircraft rental.

Why sell your older C172 when it is an ideal trainer? Why not put it to use?

Good luck!
Jedi Nein

 

[Rally]

The problem with my C172 is that it is a 1956, not really ideal.

 

[NuGuy]

Heyas,

Over the years, I've seen several aquaintences try to make a go of the flight school deal.

Leasebacks, owned, new airplanes, old airplanes, discount school, premium school....it never really seems to make any difference. You are opening yourself up to heartache and financial disaster. You'd be better off throwing your money off a Mardi Gras float.

Leasebacks are a BAD, BAD deal for the owners. Time was about 10 years ago that no one really knew this, so you could still pull off a decent leaseback fleet. In the new "internet" age, pretty much everyone knows that leasebacks mostly suck, and you wind up with only two types of AC: the clapped out old birds that people are deparately trying to extract any residual value from (which in this GPS age no one wants to fly), and new birds where someone paid cash up front, and is taking a tax writeoff (and are so expensive, no one can pay the rental fee). You don't really see any of the in-between birds anymore, and they are the meat/potatos of any operation.

In all seriousness...I've NEVER seen anyone make a go of it in the long term, and certainly not with "well, I've got a buddy whos a mech, and a dude that's a CFI and another guy who has a 1964 150 for rent" type arrangements. And Florida is a graveyard for dead flightschools.

Do yourself a favor, and take your $$$ and do something better, like go to med school.

Nu

 

[WabiSabi]

Don't listen to the naysayers from the peanut gallery. If everyone had the attitude of say, "NuGuy", businesses would never start up. There is always a risk. Granted, you're getting a dose of reality from some of these posts but, take what you can from it and don't be discouraged.

I think that you'd be better off in having at least tried and failed (worst case scenario) than years from now regretting that you never gave it a serious effort. If you really want to do it, just do so and ignore the negativity.
Remember, FL is chock full of flight schools and some of them are successful. Many of which started with an airplane or two. What says that you can't be a successful one? You know, the Chinese proverb about a journey of a thousand steps....

For starters, go to tornado stricken ERAU, I'm sure they'd be willing to make you a deal on on leasing your future 172 or Warrior.