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Thread: Thinking about starting a club

  1. #1
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    Lightbulb Thinking about starting a club

    Hello,

    I have been thinking about starting a flying club or joining the Knik club.

    I would like to get into a 170 or a sedan with 4 - 8 people. For 4, the buy in would be around $10k with each putting in $1k to start the maintenance reserve, depending on where we park it the fixed monthly cost would be around $100 each and the hourly cost would be about $65 wet. Of course the buy in and monthly cost go down with more members and everything is negotiable.

    Ideally there would be no restriction to how much, how often, or where the aircraft could be flown and time would be scheduled on a first-come-first-serve basis. I would want to incorporate as an LLC or similar for everyones protection.

    Let me know if your interested or have ideas or comments.
    Thanks

  2. #2
    Member TWB's Avatar
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    Just my .02.

    Many folks want a plane but aren't able to buy one outright, so the idea of going in on one come sup. Sounds great. But is it?

    Granted I dont fly or own a plane, but that just gives me an unbiased opinion

    Twice now I have seen people do this only for it to fail miserably for one reason or another. It's not foolproof, there will always be an issue.
    We do not go to the green woods and crystal waters to rough it, we go to smooth it. We get it rough enough at home; in towns and cities; in shops, offices, stores, banks anywhere that we may be placed

  3. #3
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    TWB,

    Thanks for your input.

  4. #4
    Member TWB's Avatar
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    Quote Originally Posted by DaveInAlaska View Post
    TWB,

    Thanks for your input.

    Welcome
    We do not go to the green woods and crystal waters to rough it, we go to smooth it. We get it rough enough at home; in towns and cities; in shops, offices, stores, banks anywhere that we may be placed

  5. #5
    Member tboehm's Avatar
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    Default student pilot

    As a new and up comming pilot, this is the kind of thing that I would be looking for and would think that there would be alot of intrest in it. One of the big questions that I think would be a big player is if you would allow off field work. Wish you all the luck in starting. It might be worth getting some of the details worked out with a lawyer so that you could make some decisions and have something to give out to prospective members.

  6. #6
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    What differentiates a club from a partnership?

  7. #7
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    Mr. Pid

    The difference would be in how the partnership agreement was arranged. In a partnership each party owns a portion of the aircraft (and is equally liable) and listed on the registration. Each time a partner comes and goes the registration is updated. In a club, a corporation is created and it owns the aircraft. Members own a share of the corporation and that allows them use of the aircraft.

    tboehm

    The intent would be to allow off-airport landings but this would depend on the cost of the insurance and the importance placed on it by the majority of the members. When I spoke with avemco yesterday it looks like my estimates were a little low on the insurance. Their basic quote for 4-10 members was $6400/yr. I found it funny that this was regardless if we allowed student pilots or not. As for talking to a lawyer and having something prepared to hand out, youíre right; it would be a good idea. However, lawyers are expensive and working out all the details now just to have them change as more people come on board would be a waist of money. For me, the details are not as important as having an affordable means to fly is (if there were four pilots out there that would only agree to a 11,000 ft min, hard surface only aircraft, thatís what itíd be). www.knikflying.organd AOPA both have lots of information on their websites and this club would be run in a similar manner as agreed upon by those that wish to join.

  8. #8
    Member algonquin's Avatar
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    Default own or club

    I'm a little gun shy about posting what it cost me to own a plane in AK as I got attacked on it last time I did, but I don't think its out of the question to own Vs. club depending on one's personal type and amount of flying. If anyone is interested in what it cost me to have a plane PM me and I'll tell you, but you can't call me a liar.

  9. #9
    Member AkPacer's Avatar
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    Default Costs

    Algonquin...I have to say that i very much agree with your cost assesment as stated previously, its very much what it costs my partner and I to own.

    As for clubs or ownership, im in a partnership with a close friend. We have understadings with eachother, and have been going for almost 3 years strong. I by no means carry around bags of money in my pocket and this setup makes ownership very affordable for us. Just be sure to do your best in getting a good aircraft "the first time."

  10. #10

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    I want to go partners with my cousin someday, still saving money for an inexpensive 2 seater beginner plane...it helps to split insurance, annuals, storage fees etc so I;ve heard.

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