Great Idea(I think), you be the judge...

Sprint100

Well-Known Member
As most around me know, I am against being a CFI(hold the boo's and hum-bug's). My thoughts were more like, stay at the job I'm at and buy a plane, especially since I always wanted to own my own plane.
Well, I do love to fly and was always given the idea (at least the perception) of either being a CFI only or buy a plane and fly for recreation. Well, I just wondered about the possibility of doing both.
I would buy my own plane and CFI part-time. Money for renting the plane and my instruction time would go go back to the plane. Whadya'll think?!?!?!?!?!?!?!?!?
I was getting ahead of myself and looking at a Seneca to buy, but if this idea goes through I would definitely get a C172 or Piper Warrior or Arrow.
 

jon007

New Member
Great Idea, but lets not forget about the one small detail.

Getting Insurance.

Hard to get insured for a low time pilot. How much are you planning to spend for the airplane? Im sure you considered tie down costs and other little details.
 

Sprint100

Well-Known Member
The costs of insurance, maintenance, tie-down(hangar if I can get it), and fuel have been taken into consideration.
If I could manage instructing on a part-time basis that would be icing on the cake since I figured on eating the costs of the plane out of pocket. If insurance becomes a problem, I would get into a deal with another CFI with the required hours. Then, he could use it to teach, have the pay for his instructing time go straight to him and rental fees would go back to the plane. We would both work out dividing up the plane for personal flying time, etc. Basically I would be using him for his hours so I can fly with him and he'd be using me for my plane to instruct in and he'd have personal access to it also.
If this idea does go through, I'd work out the formalities with whoever I get into a deal with.
 

aviator

New Member
I think if you want to own your own airplane, great. If some how you think that buying an airplane will either make or save you money.......forget it.
 

Sprint100

Well-Known Member
[ QUOTE ]
I think if you want to own your own airplane, great. If some how you think that buying an airplane will either make or save you money.......forget it.

[/ QUOTE ]

Not thinking about it for the money. I know owning will be nothing but expense, just trying to figure out how to make this idea pay , if not for itself, then at least for maintenance or something.
Many of my ideas I look at like business propositions and I know that this will not be a profitable one LOL. If it works out to become more profitable than expected ,well that'll be, icing on the cake.
 

EatSleepFly

Well-Known Member
Here's a very rough breakdown of costs you're looking at:


Basic Monthly Costs:

Airplane Payments: $800/mo (Assuming $75k Arrow for 10 yrs)
Hangar: $400/mo (varies based on location)
Insurance: $800/mo (varies depending on lots of things)

Monthly Total: $2000

Variable Costs (hourly):

Engine Fund: $12.50/hr ($25k engine, 2000 hr. TBO)
Fuel: $32.50/hr ($2.50/gal. @ 13 GPH)
Misc. Maintenance: $25/hr

Hourly Total: $70/hr.

That means you have to charge $70/hr. just to break even on variable costs. Assume you charge $100/hr. for the airplane (Arrow) wet. That leaves you with a $30/hr. profit.

$2000/$30=~67 hrs. a month you'd have to fly to break even.

Like I said, those are rough guesses and I'm probably forgetting something. Chances are they are on the low side!
Hope that helps...
 

Sprint100

Well-Known Member
Thanks, ESF, that definitely helped!!!!!!! Hopefully, I can turn this idea into a reality and compensate you with the airplane.
 

mastermags

Well-Known Member *giggity*
Just think about this.... to make money, you will need students. To get students as a freelancer, you will need good reputation. But, you need a constant stream of students to consistantly have the money to put back into the airplane.

However, if you were planning on owning an airplane in the first place, then its a great idea. But as been said before, CFIing hardly puts food on the table, much less pays for an airplane. Good luck.
 

Derg

New Arizona, Il Duce/Warlord
Staff member
Buy the plane, move it to KSDL and both me and you can find students.
 

pilot602

If specified, this will replace the title that
Insurance isn't hard to get for a low time pilot (especially if it's in a single-engine, fixed gear, low HP aircraft). But it might be a little more costly than you might think. Even mroe so if you're going to do instruction. But it might not be as bad as you think. Do some research.

I'd still like to sell the Apache at some point and get a Champ or C-140 or some such taildragger and give instruction out of that. On my own terms.
 

Sprint100

Well-Known Member
That may be a possibility, Doug. Wife and I want to buy a house out of California (prices too high here). I have family in AZ and loved it there. When I visited Pan Am and Westwind, I stayed a few extra days to check out the city.
Once I got over the heat, it was lovely. Looking at the Scottsdale area, but when I went it seemed like one loooong road in and one loooooong road out. I get antsy in places like that. If something goes down I like to have options for escape, hopefully there are other routes in and out.
 

EatSleepFly

Well-Known Member
[ QUOTE ]
If something goes down I like to have options for escape, hopefully there are other routes in and out

[/ QUOTE ]

Well if you buy your own airplane, you're set!
 
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