Your fuel supply agreement is one of the most important contracts in operating a successful FBO. Your lease with the airport authority is what puts you in business, but your fuel supply agreement is what keeps you in business.
National Business Aviation Association (NBAA) President and CEO Ed Bolen issued the following statement regarding action by Congress and the Obama administration to approve an extension of Federal Aviation Administration (FAA) funding, while Congress considers multi-year reauthorization legislation:
International Airport (SAT) in San Antonio, Texas, has been named an Authorized Service Center by Cirrus Aircraft to provide service support for owners of all aircraft models produced by Cirrus Aircraft.
As Congress and the White House finalized a package to raise the nation's debt ceiling, National Business Aviation Association (NBAA) President and CEO Ed Bolen said industry mobilization was important for keeping the bill free of proposals targeting industry – and that sustained vigilance would be needed as debt-ceiling developments continue to unfold.
National Business Aviation Association (NBAA) President and CEO Ed Bolen issued the following statement regarding the impasse surrounding congressional approval of a short-term funding extension to maintain all employees and operations at the Federal Aviation Administration (FAA), in lieu of a multi-year reauthorization.
The Jet Source Avionics Department is one of the first operators in Southern California to complete a second major installation of the new Garmin GTN 650/750 touchscreens
The National Business Aviation Association (NBAA) hailed the introduction of legislation by Sen. Pat Roberts (R-KS) to preserve the Block Aircraft Registration Request (BARR) program, thereby allowing people and companies to opt out from having their aviation movements tracked by anyone, anywhere in the world with an internet connection.
FBOs, submit your fuel prices in one place, and broadcast them to dozens of fuel programs and websites with acufuel.com.
Recently, I read a sidebar article about Dollar Hot Dog Night at the Rangers’ stadium. On Wednesdays when the Rangers are in town, they cook some 65,000 hot dogs for hungry patrons. At a buck each, the promotion attracts a lot of families to the game, and the conies are quickly snatched up!
The Art of the Deal
I’m sure you have your favorite sport, and if it’s baseball, you know how a hot dog with your favorite beverage tastes on a warm summer night around the diamond. It hits the spot! But something else is going on at the ballpark.
In the article, the writer asks a university professor for his opinion on why a $1 hot dog attracts so many to a game when patrons can have all the hot dogs they want for a lot less money by buying them at a supermarket and eating them at home.
His answer, posted in the Dallas Morning News, is what spurred me into writing this blog post.
According to Ernan Haruvy, a management professor at the University of Texas at Dallas, a perceived deal, such as the $1 hot dog, depends on several factors, including:
- Your physical surroundings
- The customer’s mood
- What the customer believes is a fair value for the transaction
OK, that all sounds logical because the customer is at the ballpark; therefore, the surroundings are fun. Secondly, because a day watching baseball is better than a day at work, the customer is probably in a pretty good mood. And lastly, $1 for a dog that usually costs $4 seems like a relatively fair value.
But what does this have to do with an FBO?
The National Business Aviation Association (NBAA) announced that business aviation veteran Roger Whyte has been enlisted to bring his vast knowledge of the industry, especially in the Asian region, to the Association's preparations for the 2012 edition of the Asian Business Aviation Conference & Exhibition (ABACE2012).