Starting and maintaining a business is a challenge, no matter which industry you are in. In an industry such as the private jet business, where your startup and overhead costs are very high, it is even more challenging to remain in the black and grow your business successfully. If you have the right business plan and are adequately prepared, it is possible to increase your private jet business while working with a cost-effective aircraft! Whether you start your private jet charter service in Australia, America, Africa, or anywhere else in the world, there are certain things that you can do to ensure that your business does well while you keep your overheads as low as possible by operating with a cost-effective aircraft.
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The Pillars of Growing Your Private Jet Business
The growth of a business in this sector depends on three key factors or pillars:
- Exposure and Reach
- Pre-qualifying clients
- A Client Management System
Exposure and Reach
Let’s take a closer look at the first pillar of growing your private jet business: exposure and reach. What do these terms mean? In a nutshell, they represent the number or volume of potential clients, or in marketing terms, “eyeballs” that your business is exposed to. Exposure really is the baseline of what gives a company its room to grow. You need to engage with your customers via marketing, where exposure and reach can be monitored using apps and algorithms.
To start off with, you’ll need to engage with your audience and find out certain things about them. Critical things for you to find out are:
- Where in the world is your audience based? With a private jet business, there may be many locations, but it makes sense to base your business on where the most significant number of potential customers will be. This will ensure a continued customer base.
- Why will your customers be making use of your service; for business or pleasure?
- What are the reasons that your potential customers are interested in using your service and not another service?
- Gather as much information, other than what we have already discussed, about your customers. It is good to know them as well as possible and anticipate their needs.
Private Jets are a luxury, even though they are well worth the rental fees. The more you can learn about your customer base and the more information you can offer them to put their minds at rest and assure them that you are the right choice, the better.
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Pre-qualifying Customers
Once you have used the marketing tools at your disposal to gather as much information about your potential customers as possible, you’ll need to put a system into place to qualify them. To do this, you will need to measure clients’ interest both online and when they visit you or you meet them in person. By “vetting” your client’s level of interest or their potential ability to make use of a service like yours, you will be preparing yourself realistically for future prospects. You should divide your potential client base up into the following groups:
- Current Clients: Ones that are willing, interested, and able to make use of your service.
- Tomorrow Clients: Those interested in the service but may not yet be financially able to make use of it.
- Potential Clients: Clients who have the means to make use of your service but may not currently be interested.
- Non Starters: People who will likely never engage with your business in any way.
Using these four classifications, your team can minimize time wastage and maximize their turnover, growing your business.
Your Client Management System
This is undoubtedly one of the most important things you’ll need to keep your business growing. If you don’t have a decent handle on your clients, your whole business will fall apart! Depending on whether your business is already substantial, with many flights and aircraft, or if you are just starting out with a single aircraft, you might need to consolidate or separate your client management system. A few things that you might need to factor into your system are:
- Following up on customer interactions
- Staff and client flight calendars
- Customer care and contact
- Pipeline: turning potential clients into today clients
Juggling all of these is not always easy, but it is a requirement for growing your business. Your clients are the lifeblood of your business and keeping them happy, keeping their needs in mind, and anticipating their future needs is what will set your business apart from the rest!
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Wrap Up
Your private jet business is your baby, and growing it is like raising a child. Sure there will be some teething issues, but it will be incredibly rewarding further down the line. If you ensure that you stay on top of all of the pillars to grow your business and keep your aircraft in tip-top condition, there’s nowhere to go but up…literally.