Starting a hangar business can be a lucrative way to make money, but there are some things you need to know to set it up and run it successfully. This article will discuss the basics of what you need to get started in the hangar business, as well as some tips on making your business successful.
A hangar business offers storage and maintenance services for aircraft. It can also provide aircraft repair and maintenance. This business can be profitable and generate a steady income stream as there is a constant demand for these services. You can cater to various customers, including private pilots, airlines, and the military.
Finding the Right Hangar Location
The first thing you need to do when setting up your hangar business is to find a suitable location. The location of your hangar will be important for two reasons. First, it needs to be close to an airport so you can easily transport aircraft in and out of the hangar. Second, it must be large enough to accommodate the aircraft you will be storing.
You should also consider the climate in the location you choose, as some aircraft are sensitive to extreme temperatures. Owners will not want to store their expensive aircraft in hangars located in extremely hot or extremely cold locations.
Getting the Right Permits and Licenses
Once you have found a suitable location for your hangar, you will need to obtain the necessary permits and licenses from the government. This can be a lengthy and complicated process, so it is important to be familiar with the requirements in your jurisdiction.
You will also need to obtain liability insurance for your hangar business. This will protect you from liability if something goes wrong and an aircraft is damaged while in your care.
Getting the Right Equipment
The next step is to get the right equipment for your hangar business. You need ground support equipment (GSE) to move aircraft around on the ground. This includes items such as tugs, chocks, and ladders. You will also need a crane to move aircraft in and out of the hangar.
You must have reliable GSE maintenance and repair services because your hangar’s operations will depend on the equipment. Having proper preventive maintenance will ensure that there is little to no downtime for your business. Repairs must be done immediately, quickly, and correctly to keep your hangar running smoothly.
If you plan to offer repair services, you need to have a well-equipped workshop with all the necessary tools, including aircraft jacks, engine stands, and aircraft toolboxes.
Consider a security system as part of the equipment you need. The aircraft in your hangar are valuable assets, so you need to protect them from theft and vandalism. A good security system will deter criminals and give you peace of mind.
Hiring the Right Employees
Now that you have a location, the necessary permits and licenses, and the right equipment, you need to start hiring employees. The most important thing to look for in potential employees is experience working with aircraft. You should also make sure that they are physically fit, can lift heavy objects, and are trustworthy.
For your aircraft mechanics, you must require the necessary qualifications and certifications from the Federal Aviation Administration (FAA) for the maintenance and repair services you will offer.
Ensuring Safety in Hangar Operations
The safety of your employees, your clients, and their aircraft is of utmost importance. You need to have well-defined safety procedures in place and make sure that all your employees are properly trained in safety protocols.
Your hangar should also be equipped with fire extinguishers, first-aid kits, and other safety equipment. There should be clear exit routes in case of an emergency.
Offering Value for Money
One of the main elements of customer service is having fair prices. You need to be competitive with other hangar businesses in your area. Your prices should be high enough to cover your costs and make a profit, but not so high that customers will go elsewhere.
Another thing you can do is offer discounts and promotions. For example, you could offer a discount to customers who refer new business to you. You could also offer a discount to customers who prepay for services.
Providing Topnotch Customer Service
Creating a good relationship with your customers is essential for the success of your hangar business. You need to build trust and rapport with your customers. This means being honest, reliable, and providing excellent customer service.
Train all your employees to be prompt, efficient, and responsive to customer needs and concerns. They must always be professional and respectful and provide the highest level of service quality.
Top-quality customer service also includes having all the parts needed for aircraft maintenance and repair in stock. Your clients must never experience being delayed just because you don’t have the right parts on hand.
Grow Your Hangar Business
Once you have the basics down pat, you can further grow your hangar business by offering additional services such as aircraft rental, flight training, aircraft management, and charter services. You could also expand your business by opening additional locations.
Starting and running a hangar business can be challenging, but it’s also very rewarding. By following these tips, you can grow your hangar business into a successful enterprise.