Inspired by the 18 year-old from England starting his own airline, I have to ask:
How do you do a Marketing Study to determine if there is a demand for your product? Do you phone people up and ask them if they'd use your service?
I've got enough cash scraped together to buy a clunky 172 (or something in that range) and get the red tape done, but that's about it. Just Day VFR only, nothing fancy.
I live in a city, so there may be a demand for sightseeing, occasional freight, etc. North is not an option due to family.
So how do you do it!
How do you do a Marketing Study
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Right Seat Captain
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Here is a tutorial on how to do a Market Study:
http://www.knowthis.com/tutorials/marke ... tstudy.htm
Good luck with your endeavour!
http://www.knowthis.com/tutorials/marke ... tstudy.htm
Good luck with your endeavour!
classiv,
Market study and Marketing study are two different things.
The first one will assess the present Market in terms of Demand. This Market is there and willing to use the cheapest most convinient mean to get the job done.
Trial ads, speaking with competition, finding alternative ways to do transport in your region are all techniques that can be used to assess that market.
Marketing, on the other hand, can be used to attract new revenue generating contracts. The clients might not have thought that they could use your services but using strategic planning and aggressive Marketing techniques, you're able to tailor your product to their needs and seal the deal!
You want my advice? Crunch the numbers many times...If you need 10, plan for 20, 30 or even 40...
Good luck
Market study and Marketing study are two different things.
The first one will assess the present Market in terms of Demand. This Market is there and willing to use the cheapest most convinient mean to get the job done.
Trial ads, speaking with competition, finding alternative ways to do transport in your region are all techniques that can be used to assess that market.
Marketing, on the other hand, can be used to attract new revenue generating contracts. The clients might not have thought that they could use your services but using strategic planning and aggressive Marketing techniques, you're able to tailor your product to their needs and seal the deal!
You want my advice? Crunch the numbers many times...If you need 10, plan for 20, 30 or even 40...
Good luck
In the business world, the rearview mirror is always clearer than the windshield...W. BuffettThanks,
Who do you recommend for insurance?
I suspect that could cost more than the plane!
What would I typically be looking at for insurance on a Cessna Single flying No Passengers Day VFR?
If I decide to fly pax, I imagine the insurance rates will all but double.
This could be a fun thing.
Fortunately I've got other sources of income so I can afford to do this kind of thing!
Who do you recommend for insurance?
I suspect that could cost more than the plane!
What would I typically be looking at for insurance on a Cessna Single flying No Passengers Day VFR?
If I decide to fly pax, I imagine the insurance rates will all but double.
This could be a fun thing.
Fortunately I've got other sources of income so I can afford to do this kind of thing!
Thanks, I've been around the block enough times to know that golden rule!
I've been looking at the Transport Canada application to obtain an OC.
For what I have in mind (basically legalized chisel charters) the process doesn't look that horrendous.
Starting with 1 small little airplane and going from there... what the hell you only live once.
I've been looking at the Transport Canada application to obtain an OC.
For what I have in mind (basically legalized chisel charters) the process doesn't look that horrendous.
Starting with 1 small little airplane and going from there... what the hell you only live once.
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Driving Rain
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True story,
The original location for the 5th Wheel Truck Stop chain in Milton On. located just off the 401 was started after the original 3 partners stood on the roof of a building near it's present location and counted TRUCKS. They counted them all day for 7 days. That was the basis of their market study and then with those numbers they prepared a marketing plan, took it to the bank. They expanded to 4 locations troughout Ontario and became multi millionares.
The original location for the 5th Wheel Truck Stop chain in Milton On. located just off the 401 was started after the original 3 partners stood on the roof of a building near it's present location and counted TRUCKS. They counted them all day for 7 days. That was the basis of their market study and then with those numbers they prepared a marketing plan, took it to the bank. They expanded to 4 locations troughout Ontario and became multi millionares.
