Are you interested in doing business in the aviation sector but you lack the funds to setup an airline? Then below are ten low capital business ideas in the aviation industry for 2020.
The aviation industry might no longer be as lucrative as it used to be—no thanks to factors such as bad economy, huge number of employees, increased terrorism and fear, higher insurance costs, and increasing preference for private jet flights.
However, there are still many ways to tap huge profits from the aviation sector, especially by starting businesses that may not be directly linked to flight services. If you are looking to start a profitable business within the aviation industry, here are 10 business ideas to consider.
Top 10 Best Aviation Based Small Business ideas for 2020
1. Aviation fueling service
The aviation fueling business is as old as the aviation industry itself. And it’s a very lucrative venture, since every aircraft needs fuel to fly. The business caters to both commercial and private airline operators, so there’s a decent market for smart players. If you have the required experience and startup capital, starting an aviation fueling business can be a very profitable business venture.
2. Aircraft wash service
Aircraft are washed regularly in order to make them look clean and attractive. In fact, clean aircraft is one of the reasons why customers love some airline operators. This explains why most operators deem it necessary to wash their aircraft often. Starting an aircraft washing service requires no formal qualifications or certification and requires minimal startup capital.
3. Consulting service
If you have several years of experience in any aviation-related field or specialization, you can turn that into a money-spinning business by offering consulting services to those who need them. For example, if you have retired as a seasoned marketer with huge experience in the aviation sector, you can offer expert advice to new airline and private airline operators on how to attract customers and grow their business.
4. Airport catering service
While waiting for their flights or after their hour-long flights, airline passengers usually feel the need to take some food. This is where airport restaurants and snack bars come in handy. If you pride yourself on having great culinary skills, you should consider starting a catering service that offers food to airport passengers. Similarly, you can collaborate with airline operators and provide pre-flight meals to their customers.
5. Aircraft parts sales
Since aircraft are common and are used every day, it goes without saying that some of their parts would need to be replaced at intervals or whenever they get damaged suddenly. This creates huge profit opportunities for businesses that offer these parts for sale. If you have the required startup capital and are very good at building connections, then you should consider starting a business that sells aircraft spare parts to airline operators.
6. Aircraft maintenance service
Aircraft crashes are usually fatal and poor maintenance practices is one of the commonest causes of crashes. This explains why airline operators are required to routinely check and maintain their aircraft. If you have the required knowhow, then starting an aircraft maintenance business might be your own way of tapping from the profits in the aviation industry.
7. Airline marketing
Some airline operators reward people who can bring them customers. And they usually pay huge commissions for each customer referred to them. The commissions are even higher for luxury airline operators who hire out private jets. If you have solid marketing skills and can easily convince people to take any action you expect of them, then you can earn a huge monthly income as referral commission from airline operators.
8. Flight school
Whether you are a practicing or retired pilot, you can share your aircraft flying knowledge and skills with others by setting up your own flight school. Although this will require some licensing, the whole startup process is relatively easy. Many people are willing to learn how to fly aircraft, and they will be willing to pay to get this knowledge from your flight school.
If you pride yourself on having deep knowledge of the aviation industry in your country, then you can start a blog and share your knowledge with others. Although your ultimate goal is to generate profits, you will need to focus on building a loyal audience through publishing quality, helpful, and valuable information. Once your blog becomes popular, you will be able to monetize it through multiple options, such as affiliate marketing, advertising, and so on.
10. Airport currency exchange
If you live close to an international airport and are looking to start your own business, then you should consider starting a currency exchange business within the airport provided you have the required know-how. Passengers entering and leaving a country usually exchange their currency at the airport, so there’s a huge market to cater to.