How to help small bazillionaires finance their own personal jet in 2018
Posted September 01, 2018 09:57:47 A couple of weeks ago I asked if I could share some tips for small business owners with the help of some of the best advice on the web.
So here they are.
Buy your own jet.
I don’t have to tell you that you should buy your own plane.
And yet, for many, a plane is a necessity.
Many small businesses want to be self-sufficient, but don’t want to get into debt or worry about being a risk taker.
The small business pilot’s manual says: “It’s always better to buy a plane than to rent one.”
That’s not to say that you can’t buy a cheap plane for a few hundred dollars, or even get an inexpensive flight.
But you can buy a reasonably-priced one for a much less than you’d pay on a rental, and you can even buy a relatively cheap one to fly a smaller business around.
The only caveat is that if you buy a rental it’s probably not going to last.
“You’ll want to buy your plane for around the same price as you’re paying for the rental, even if you’re going to have to use it for other things,” says Simon Brown, managing director of consultancy firm Flightwise.
“If you buy the plane, you’re putting a big bet on it, and if it doesn’t work out, it’s your money back.”
Find a flight plan.
There’s a lot of bad advice on how to get a plane.
But it’s important to remember that there’s nothing wrong with flying a business jet.
It’s just not the right time or place to do so.
“Small business flight planning is probably one of the most important aspects of any business, and there’s really no point in doing it on your own,” says Brown.
If you can find a flight to do it, you can do it in your own time.
“It helps to know that the business has a route that they’re taking to get there and it helps to have a plan for the journey,” says Domenica Pinto, an accountant based in Madrid.
Plan a flight.
The most important thing about flying is knowing what you’re doing, and getting that in writing.
If your business has no other options, a business plan is a must.
Brown recommends a business flight plan that includes: the date and time you’re planning to arrive; the route that you’ll take; and where you’re taking the business.
“This is a good document for you to keep track of when you fly, so you can track what’s going on and where your business is,” he says.
“A flight plan will show you how long it will take, what’s the weather, the route you’re flying on, how long you’re staying at the airport, what sort of airport you’re using and much more,” says Pinto.
Get the ticket.
There are several different options for booking flights for small businesses.
You can book the business directly with airlines, or you can book them online.
Both options are available at Flightwise or on their website, but the most reliable is Flightwise’s Business Planner, which allows you to view all the flight details for the entire airline.
Brown says the best option for getting business flight plans is to go to an airline website like Delta or Frontier, which has a large database of flights.
“The websites are generally quite good, but it’s very expensive to get one of those,” he explains.
“They’ll be able to help you get a flight, but you might have to pay more for the flights themselves.”
Find your best route.
Brown advises looking at the routes of all the major airlines to see which ones are the best for your business.
For example, if you have an online business, you might be able the find a route online that suits your needs.
But if you are a hotelier or office worker, Brown suggests booking your business flights with a company like Priceline.
“Because Priceline doesn’t charge for the flight, you have no control over what you pay, which is the best,” he adds.
“I find that the best way to book business flights is to get them from one of their partners or directly from the airline.
It’ll be much cheaper.”
Be prepared to pay a premium.
For small businesses, there are some things you can expect to pay for.
“When I booked my flight for my business, I knew I’d be paying for a flight at least an hour and a half to an hour, and that was not a small business flight,” says Ben Schoenfeld, an Australian-based small business owner.
“We’re looking at a flight for the duration of the journey, and we’re looking for about 2,000 kilometres, so I was hoping to get