You need to contact the appropriate agency in your state or country to find out what rules and requirements apply. In some cases, the Federal Aviation Administration requires a certificate of repossession.
Choosing a Suitable Location for your Repo Business Choosing a location for your business is not what you should do without due consultation. You need a desk, chairs, filing cabinets, computer and business telephone line. In fact, some states or countries require that individuals seeking to start a repo business have one or two years of experience.
However, repossession companies operate with a great deal of economic stability as during deleterious economic conditions many people fall behind on payments due on vehicles and other property. Obtain any permits and licenses you will need to run your business. The meetings could be daily, once in a week, twice a week or once in a month.
Also find one or two aircraft mechanics who can make sure all aircraft you handle are ready to fly. This type of business will be regulated, and the air travel may cause you to cross state lines from time to time, so be prepared. Nonetheless, if you are able to build a successful brand, you can pitch your business in any part of the world and still make success out of the business- especially if you run a repossession consultancy and advisory business.
One of the largest expenditures in the repossession business is your wrecker. They will expect a bond for at least 1 million up to 5 million. It is important to state that there will always be room for a repossession firm to form strategic alliance with one another which is why it is important to maintain a good network within the industry.
Choosing a Suitable Location for your Repo Business Choosing a location for your business is not what you should do without due consultation. You need at least one tow truck but obtaining two or three to start with ensures that you can repossess different types of vehicles and hire employees to help you.
Your business plan should outline and cover strategies on how you intend to manage and grow your repossession company. Hire employees with care. One of the major reasons why businesses struggle, fail and eventual close shop is the fact that the owners decided to choose a wrong location for the business.
Insurance Policy Writing a Business Plan for your Repo Company If you are looking towards starting a repo company, then one of the first steps that you are expected to take is to consult experts to help you write a good and workable business plan.Mar 14, · A career plane dealer and licensed pilot, Mr.
Hill, 66, estimates that he has repossessed hundreds of aircraft since his first propeller-powered Piper Cherokee in Learn about the business of aircraft repossession.
Take part in any training you can find available, or even better spend time with someone who does it for a living. Obtain any permits and licenses you will need to run your business.
Aircraft Repossession. We offer professional, dependable and responsive airplane repossession services nationwide. We recover private, corporate and commercial aircraft of any size and type, from the single piston to twin turboprops and jets, and are dedicated to bringing an aircraft back to it's legal owner.
Popovich, who was the original host of The Discovery Channel’s Airplane Repo program, says he never planned on being a repo man. He wanted to run an airline—and was well on his way to doing so inworking with his bank to arrange financing.
Corporate Jet Solutions offers professional, dependable and responsive airplane repossession services nationwide. We recover private, corporate and commercial aircraft of any size and type, from the single piston to twin turboprops and jets, and are dedicated to bringing an aircraft back to its legal owner.
The business plan consists of a narrative (body) and financial worksheets. Work through the sections in any order that you want, except .Download