Establishing a favorable fuel supplier agreement is arguably the most important agreement an FBO can have with any vendor. Done properly, it can add real intrinsic value to your business and, quite possibly, make or break your bottom line.
Read MoreThe robust increase in Jet-A fuel sales following the Covid-19 pandemic has seemed to hit a bit of a headwind as FBOs brace for a possible industry-wide slowdown. This is part of our takeaway from discovery discussions conducted at the Annual NBAA-BACE held October 18-20 in Orlando, FL.
Read MoreDespite the findings noted by Private Jet Card Comparison, JetASAP clients experienced an average 9% decrease in hourly rates over the past 90 days from quotes they received directly from charter operators. This Q3 pricing data is based on 3,924 quotes received by flyers through the app.
Read MoreMulti-Part Series: The 7 Immutable Elements of Building Equity in Your FBO Enterprise©
Fourth Installment on Airport Lease
For this blog post, we’ll continue our series called the 7 Immutable Elements of Building Equity in Your FBO Enterprise© with the fourth installment on our first element: Obtaining a Long-term airport lease.
Read MoreMulti-Part Series: The 7 Immutable Elements for Building Equity in Your FBO Enterprise ©
Third Installment on Airport Leases
For this blog post, we’ll continue our series called the 7 Immutable Elements of Building Equity in Your FBO Enterprise© as we dive deeper into the topic: Obtaining a long-term airport lease.
In our last post, we covered: Term and Option Years, Operating Rights and Assignment Sale Clause. Now we are ready to discuss the next three lease elements: Payments, Maintenance Responsibilities and Termination.
Read MoreOver the next several blog posts, we will do an in-depth dive into each of these elements, providing valuable insight to help you navigate your way towards operating a more successful FBO business. For this blog post, we start at the top: Obtaining a long-term airport lease with extension options. Your lease with the airport authority is the lifeblood of your business. Here are the critical components of your airport lease that we will look at:
Read More7 Immutable Elements for Building Equity in Your FBO Enterprise ©
There are several reasons why FBO owners and operators should want to build equity in their operation. Chief among them are:
In creating a great customer experience at your FBO, sometimes you have to go outside the box and think organically.
By that we mean taking a leadership role that involves creating an internal culture where employees have a vested interest in the outcome of the enterprise. This is accomplished by treating all employees as true stakeholders.
Read MoreManaging your brand equity is all about managing your stakeholder relationships. For the purpose of defining these terms, your brand is the name of your FBO and your equity is not only what you have invested in building infrastructure, it is also the investment in developing the kind of image that you want your brand to project.
Stakeholders are primarily your customers, employees, vendors and suppliers. These are the groups that can form an opinion of your FBO and can send or disseminate messages about your brand, whether positive or negative. That’s why managing these stakeholder relationships are critical to your success.
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