The presidential re-election of Donald Trump initially created unbridled investor enthusiasm across the stock market based on promises to limit regulation, lower taxes and bring the cost of oil down with his battle cry of “Drill-Baby-Drill! Wall Street coined this eagerness a “Trump Bump.”
Read MoreIf your service team is not truly customer focused… not truly tuned into being a part of a customer centric culture… then your customer experience is dead-on-arrival (DOA).
Read MoreThe last element in building equity in your FBO enterprise is developing a consistent customer service experience.
Think of a three legged stool where each leg represents a primary component that helps support the entire customer experience platform. The three legs must work in concert with each other. If one leg fails, the stool will collapse, causing a breakdown in delivering the best possible customer service experience.
Read MoreAs a continuation of our blog post regarding the value of creating a sound balance sheet with consistent EBITDA performance, we pick back up with the importance of conducting a financial ratio analysis which helps spot trends, whether good or bad.
Read MoreThe recent European Union Aviation Safety Agency’s (EASA) proposed ground handling regulations have sparked interest amongst leaders in the U.S. FBO Industry and was a general topic of discussion by FBO owners and operators attending the annual NBAA Schedulers & Dispatchers (S&D) Conference held March 12-14 in Ft. Worth, TX.
Read MoreThe annual NBAA Schedulers & Dispatchers (S&D) Conference offers a great opportunity to catch up with FBO clients, associates and leaders in order to get a feel for the pulse of the industry as well as issues that could impact policy and procedural changes. This year’s rendition, March 12-14 in Ft. Worth, TX, was no exception.
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FBO Fuel Sales Softened in 2023
The results of our Annual FBO Fuel Sales Survey indicate that fuel sales softened in 2023 following a relatively flat 2022 performance.
Read MoreA handy tool for FBOs to help manage profitability is to conduct a financial ratio analysis which will assist in spotting trends, both good and bad. This process will aid owners and operators to get a better grip on cash management and forecasting the effect that operations have on the bottom line.
Read MoreWhen it comes to reviewing the contract fuel section of your fuel supplier agreement, please remember that there are two sides to every coin. On one side there are the rewards that need to be examined. On the other side, there are potential risks that need to be weighed.
Read MoreMulti-Part Series on The 7 Immutable Elements of Building Equity in Your FBO Enterprise
An often-overlooked element in developing a better fuel supplier agreement is the ability to negotiate favorable credit card processing fees. If you want to have a tangible impact on your bottom line, watching your credit card processing fees is a sure bet.
There are many ways to attract customers to your FBO, including advertising, social media, word of mouth and face-to-face encounters at trade shows. But once you get first-time customers on your ramp, how do you motivate them to return and become loyal; the kind of loyalty that generates a recommendation to other flight crews and business aircraft operators?
Read MoreDespite the findings noted by Private Jet Card Comparison, JetASAP clients experienced an average 9% decrease in hourly rates over the past 90 days from quotes they received directly from charter operators. This Q3 pricing data is based on 3,924 quotes received by flyers through the app.
Read MoreResults of our Annual FBO Fuel Sales Survey are in, and we are happy to report that 75 percent of FBOs responding to the survey experienced positive — increased or the same — fuel sales in 2018 compared to 2017.
This is the third consecutive year we have seen an increase in fuel sales by more than half of FBOs responding.
Every January, FBOs begin to gear up for the annual NBAA Schedulers & Dispatchers (S&D) Conference where they can attract new business to their ramp while cementing trusted relationships with current customers.
At this year’s conference, Feb. 6-9 in Long Beach, Calif., we had a chance to converse with many FBO owners and operators, as well as schedulers and dispatchers, to find out how they view the health of the industry and if there are any real concerns going forward. We believe the following statements reflect the overall opinion on each subject:
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