Airplane Rental Business Start Up Information
Starting an aircraft rental business requires knowledge of local airport policies, Federal Aviation Administration requirements and general business considerations, including profitability and insurance requirements.
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Choose an Aircraft
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An aircraft should be chosen that will allow the maximum number of qualified pilots to be targeted or to address a specific aircraft type need within a market. Common aircraft used in rental operations are from manufacturers such as Piper, Cessna, Cirrus and Diamond. These also tend to be the most easily insured types.
Maintenance Requirements
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Maintenance requirements for aircraft offered in commercial operations differ from private aircraft. Commercially utilized aircraft (including those offered for rental) require annual inspections like private aircraft but also require an additional inspection to be conducted every 100 hours of use. These inspections must be conducted by a certified FAA maintenance professional.
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Insurance Requirements
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Insurance is strongly recommended for aircraft made available for rental. Prices for rental insurance include both liability and hull insurance considerations and can be obtained through quotes by an aviation insurance representative. Discounts are often available through membership in aviation organizations.
Determine Price
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This price should be calculated in consideration of all costs, including maintenance, storage, insurance, fuel and general operating costs. To offer the aircraft at a price that does not adequately cover these costs will result in an unsuccessful business model.
Local Airport Requirements
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Many airports have limitations and requirements that must be considered when commercially providing a service. Local commercial operator agreements may be required. Contact local airport management to determine operating guidelines at the airport where the intended service will be provided.
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