Whether it’s for your personal use or you’re looking into starting your own private jet charter business, there are a whole host of reasons to consider purchasing a private jet. Of course, for any of these reasons, the giant first step is actually buying the jet. What comes after that can be a bit trickier though, and it depends entirely on what you want to get out of the experience. So first of all, let’s take a look at some of the most common reasons people buy private jets.
7 reasons to purchase a private jet
- To start a private jet charter business.
- For your business’ needs or personal use.
- Unlike flying first class, you don’t have to put up with the hassle of flying publicly.
- As an indication of success, it maintains an image of upper class status.
- It’s the most luxurious and comfortable way of travelling quickly.
- You don’t have to put up with flight cancellations and rescheduling.
- If your business requires you to frequently make unscheduled trips and time-sensitive journeys by air, then a private jet is more of a necessity than a luxury.
Once you’ve got your private jet and the initial honeymoon period has passed, you’re going to need to think about how to be a responsible jet owner.
5 things to do after purchasing a private jet
1. Inspection: While it may not occur to you when you’re over the moon about having just bought a jet, this is the first thing you should do. Jets are expensive pieces of machinery and, like a car, you should check that everything is up to scratch and is exactly what you were promised.
2. Insurance: After inspecting it, the next thing you should do is take out a good insurance policy. Although you’re unlikely to ever need to use it, you’ll be covered if something unfortunate does happen. It’s likely to cost you a whole lot more if you don’t take one out!
3. Budget: Once the paperwork is out of the way, it’s time for some number crunching. You’re going to need to budget for insurance, taxes, fuel, and maintenance costs in the same way you budgeted for purchasing your private jet, otherwise you’ll soon be drowning in costs.
4. Personnel and staff: Once you get a feel for your plane and what you’re going to be using it for, consider any staff you may need and if they’d be permanently employed or on a contract. Some important jobs you should consider filling are cabin and flight crew, a legal team, an accountant, and a chef, but it really comes down to what you want.
5. Customize it to your tastes: Finally, if you’re the creative type, you may want to customize the interior of the jet to your tastes. Once this is done, or if you love it as it is, then you can take your first flight safe in the knowledge that you’re on the right path to being a responsible jet owner.