zx6rrider
Well-Known Member
Been kicking around the idea of starting a flying club with my 152 to make learning to fly more affordable and keep people flying. I've looked over the AOPA website a good bit but still have a few things I'm trying to figure out;
I see a lot of clubs set up with a low buy in ($1-3000), monthly dues and a fixed hourly rate. In this situation, who actually owns the aircraft and where does that buy in money go? Many of them say you get it refunded when you leave so is it just sitting in a escrow account? If the group owns the aircraft, then with a 2000 buy in, thats 15 people to a 152?
With the fixed cost, who foots the bill when something major needs fixed and there is not enough money in the MX reserve account from the hourly rate? (Think new cylinder 3 months after club is started) I know a club can be set up however you want and agree upon but trying to figure out what is normal.
I own the 152 outright and am not looking to make money but also don't want to sell it for 10,000 if I can only find 5 people interested. The engine will be overhauled if I do start a club so it would be nice to use the buy in for that but not sure how that would work if they leave. I have a couple guys at work that would like to fly but are apprehensive with the cost so thought this may be a good way to get them going.
Any other ideas are appreciated.
I see a lot of clubs set up with a low buy in ($1-3000), monthly dues and a fixed hourly rate. In this situation, who actually owns the aircraft and where does that buy in money go? Many of them say you get it refunded when you leave so is it just sitting in a escrow account? If the group owns the aircraft, then with a 2000 buy in, thats 15 people to a 152?
With the fixed cost, who foots the bill when something major needs fixed and there is not enough money in the MX reserve account from the hourly rate? (Think new cylinder 3 months after club is started) I know a club can be set up however you want and agree upon but trying to figure out what is normal.
I own the 152 outright and am not looking to make money but also don't want to sell it for 10,000 if I can only find 5 people interested. The engine will be overhauled if I do start a club so it would be nice to use the buy in for that but not sure how that would work if they leave. I have a couple guys at work that would like to fly but are apprehensive with the cost so thought this may be a good way to get them going.
Any other ideas are appreciated.