This article includes several practical suggestions on starting an air transportation business.
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Elements of an Air Transportation Company Business Plan
Every business plan is unique. However, the most effective business plans do address specific sound business plan elements:
- Mission Statement – Your description of your air transportation business's reason for existing.
- Goals & Objectives – A list of mile markers on your air transportation business's road to success.
- Financial, Marketing & Action Plans – Specific plans that describe your business environment, demographic targets and quantitative estimates.
Well in advance of opening an air transportation business within your community, it's essential to determine what the competition looks like. Use the link below to get a list of local competitors in your city. After clicking on the link, type in your city, state and zip code to get a list of air transportation businesses near you.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
Once you've finished assessing the competion, be sure to speak with somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. It'd be crazy for them to teach you the business.
But, a person who owns an air transportation business outside of your community can be a great learning resource for you, after they realize you reside far away from them and won't be stealing their local customers. In that case, the business owner may be more than happy to discuss the industry with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
What's the best way to find an air transportation business entrepreneur in a different locale who can assist you?
No problem! Just use the link below and try a random city/state or zipcode. Then start dialing for advice until you are successful.
Three Arguments for Buying an Air Transportation Business
It's almost always preferable to buy an air transportation business than to pursue an air transportation business startup.
Due diligence and other business buying requirements are essential. But there are several reasons why buying an air transportation business may still be your best bet.
- Proven Profitability. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
- Established Operations & Processes. When you're shopping for an air transportation business, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Capital Acquisition. Lenders, investors and other funding sources almost always prefer business purchases to startups.
Don't Rule Out Franchising
The odds of achieving your primary goal of doing well with your venture zoom upwards if you decide to franchise in lieu of doing everything yourself.
Before starting an air transportation business, it's worthwhile to assess whether there are good franchise opportunities available that might be worth investigating.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing air transportation business, try these useful resources:
If you sell to air transportation businesses, this isn't the right place for you. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.