There are many ways for you to make money in aviation. The world of general aviation offers a wide range of planes for you to choose from – and this allows you to choose many ways of creating a business where you can generate income.
The first step is to determine what industry you want to be in. This can include photography, pesticide care, tourism or various other industries. This will allow you to choose a direction for your business. You can offer aerial photography, chemical spraying, flights for tourists and much more.
The next step is to determine what kind of plane you will need. Planes are not cheap, so you have to decide if you are going to buy new or used and if you are going to ask for investors to help you fund the initial investment of the plane. In some instances, you may even be able to purchase the plane with other individuals who also want to make money in aviation – and a sharing schedule can be established.
If you plan on purchasing a plane for general aviation with the help of investors, a complete marketing plan needs to be established. This includes being detailed as to what you are going to offer, what you are going to charge, and how you plan to market your business. This will allow investors to see how you plan on making your business profitable so they see a return on their investment.
You will need a pilot’s license as well as a plane if you plan on making money within the industry. Before you get too financially invested, it’s also critical that you do market research to find out if there’s room for you. The market may be oversaturated, making it hard for you to become profitable. There may also not be a need for what you plan on offering within your area.
To be profitable, it requires research, a full business plan, and a premium service.