Did you know that business travel has declined by 71% for US-based companies since 2020?
The pandemic has changed the way people are traveling, and that includes businesses. Most of this was by necessity due to borders and even certain businesses being closed for part of the time.
However, travel budgets have changed and that has forced businesses to adapt to the new reality. So, one way that they have done this is by going towards charter plane travel.
This situation makes it a good time for someone to get involved in the charter plane business. But, as an outsider, you may be wondering what you need to know before you dive in?
Here is a brief guide.
Know Your Operations
When it comes to a charter plane, people are most likely going to have to use a regional airport to fly one. As a business owner, you are going to need to talk to the regional airport that you are planning on using for your planes.
Get an idea of the facility situation, how much it would cost to use that airport, and what the exact rules and regulations are for that area.
Once you have a good idea of what you would be working with, you can then determine who your fixed based operator will be. With this, you can get things such as hangars, good fuel prices, a safe place to park your planes, and more.
This website has a detailed brief about why having a good fixed based operator is essential for your business to thrive.
Know Your Customers
The next thing that you need to do is figure out who your target audience is going to be. Is it going to a rich individual that wants to have a private plane ready to go at a moment’s notice?
Or, will it be a business that wants to keep a charter plane on retainer for their business travel? Figure out who you are advertising your business to and once you do that, you can start building your extra services and amenities around that audience.
Know Your Schedule
Finally, it will be important to figure out how often you can have one of your charters fly and get a good idea of how long it would take to get a plane back and forth. This gives you a good idea of the maximum distance that you can fly and how many employees that you would need to hire.
Most importantly, mapping out your logistics allows you to figure out exactly how much it costs to fly frequently, fly a certain distance, and how much it costs to hire staff for a certain amount of time. You need to get these details ironed out, because nothing ruins a business faster than bad financial planning.
Learn More About Charter Plane Travel
These are three steps that you need to take before entering the business side of charter plane travel. If you follow these, you can get a good idea of what you have to base your business around, and if your planned operations are realistic and affordable.
To learn more about related subjects, check out our Travel section.