There?s not a lot of jobs that involves the need of your very own private jet but if you?re one of those entrepreneurs that is killing it in their respective field than a business private jet might just be right around your financial alley. By the year 2011, 11,261 private jets were registered by owners in the United States of America. Buying your own private jet is the ultimate form of independence and boss status. You have access and free will to go wherever in the world as long as you’re allowed to. To get an executive jet charter for business purposes, you?ll need major investment money for the jet itself, as well as the yearly costs for maintenance, pilot, airport storage, and fuel costs. Prepare to spend about $4 million for own and charter a jet in addition to about $100 thousand per year for maintenance.
Before you even put the money down for a business private jet and sign the dotted line, there are many things to consider. Such as:
- Consider the purpose of buying a business private jet. What do you need a private aircraft for? Do you need it just to travel to meeting overseas? Or is it something you want to use for paid vacations as well? Out of business aircraft passengers, about 22% percent are executive managers, 50% are of lower management, and 20% are technical employees, sales or service staff. Having a deeper understanding for why you need a business private jet will help you to get a good idea of how much money you?ll need to spend to buy an executive jet. Since this is for your business it?s coming out of your business expenses. Think about the opportunity costs and what else that money can be good for. Is it worth it. If so, you?re that much closer to being a business private jet owner.
- What size private jet do you need. This is a very important matter since it will tie into the overall cost of the private jet. The size of the private jet will also help you narrow down your options. Don’t just consider the amount of people the jet can seat. Think about how far you plan to travel and how much storage you will need in the aircraft.
- Get a good lawyer who understands FAA rules and regulations. One thing that flies over people?s head is the fact that they will need to know and fully understand FAA-Compliance regulations and tax fees before they put a down payment to own and charter a jet. Your best bet is to hire someone who knows the proceedings better than you can ever learn them. These are legalities you must adhere to and having an experienced and knowledgeable legal adviser with you will help immensely.
- Don?t forget to check and inspect the jet before purchase. Once you?ve made an informed decision as to which private jet to buy, get someone who understands the mechanics to check and inspect the aircraft before you making a final decision. This particular step is crucial and will help you avoid a lot of headaches down the line.
- Hire a management company to handle your affairs maintaining the private jet. The ultimate private jet needs the ultimate management company. Paying an organization that will help you maintain and oversee the yearly costs of the private jet is a great idea for veteran or newbie jet owners. Have the management company handle all the insurance, fuel, parts, maintenance, as well as pilot costs that comes with owning a vip private jet for business use. This way you don?t have to constantly deal with the headache maintaining your bills. You can never go wrong with asking for help when you need it the most.
Studies have shown that private jets use a network of over 5,000 airports in the United States, compared to commercial airlines which uses about 550. If you have all of these steps accounted for, it?s time to get your funds in order and prepare to finally join this network of millionaire business private jet owners. This is a major investment that will surely pay off, as long as it?s for the right reasons.