Strategies to Improve Profits in Flight AcademiesInk Well Mag November 17, 2015 0 COMMENTS
The general notion in the business world is that if you want to increase the profit margins in the simplest way, you just have to increase the turnover. This ideology applies to many, but not all – particularly in the aviation industry, wherein enhancing profitability has always been an issue for business owners.
Increasing the profits of your flight academy is not a walk in the park. Expect to encounter uncertainties, challenges, and errors ahead as the flight school business is not as clear out as the runway. On a brighter note, there are numerous ways on how to improve profitability beyond hiring management agents.
Embrace Innovative Methods
A common mistake many commit is they fail to utilize technological advancements. Don’t be afraid to capitalize on aviation management software because this can help you administer the academy better in terms of policy compliance, scheduling and dispatch, manpower tracking, and aircraft maintenance.
Maintain the Aircrafts Regularly
The flagship attraction of flight schools is their aircraft fleet. You can’t expect students to enrol in your academy if you’re using poorly maintained and oft-malfunctioning airplanes. Moreover, you may tend to spend less on aircraft maintenance than in repair, replacement, and compensation for flight accidents.
Hire Time-Conscious Personnel
Proper timing is everything. The more time you waste means the more profit you lose. Employing pilots and instructors who are not time-conscious can lead to loss of students and resources. Your staff should be competent in real time management of all factors and active towards unexpected challenges.
Act beyond the Common Notion
Thinking outside the box works for almost every industry. As a flight academy, your main purpose is to teach students how to fly aircraft. But, it doesn’t mean you have to confine the school in that function. You can also accept private flight tours or aircraft repair and maintenance besides teaching for money.
Mapping out the most suitable business plan and employing well-rounded staff are keys to improve the profit of your flight school. Learn to identify opportunities and ideas and make use of them.