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 MoreThe results of our Annual FBO Fuel Sales Survey indicate that on average, fuel sales were mostly flat for 2022. Although there were pockets of increased fuel sales, nearly 50 percent of FBOs surveyed reported either a decrease in sales or the same fuel sales levels for 2022 vs. 2021. By contrast, for 2021 only 28 percent reported a decrease or same fuel sales compared to the previous year. At the far end of the spectrum, 22 percent of FBOs surveyed indicated an increase in fuel sales of more than eight percent for 2022 compared to 40 percent in 2021, a banner year for fuel sales after the FBO industry regained its footing following the Covid-19 pandemic.
Read MoreThe days of servicing aircraft with an all-electric fleet of ground support equipment may be here sooner than you think. Already, many FBOs are looking to reduce their carbon footprint with purchases of electric tugs, golf carts, lav carts, potable water carts, belt loaders and portable electric GPU’s. But the biggest item, the electric refueler, has been the last major piece of the puzzle, until now.
Read MoreAs we turn the calendar page to 2023, it’s time for our Annual FBO Fuel Sales Survey. This is an opportunity for you to let us know how your fuel sales fared for 2022 compared to 2021 and help us predict what 2023 has in store for the industry.
Read MoreEstablishing a favorable fuel supplier agreement is arguably the most important agreement an FBO can have with any vendor. Done properly, it can add real intrinsic value to your business and, quite possibly, make or break your bottom line.
Read MoreThe robust increase in Jet-A fuel sales following the Covid-19 pandemic has seemed to hit a bit of a headwind as FBOs brace for a possible industry-wide slowdown. This is part of our takeaway from discovery discussions conducted at the Annual NBAA-BACE held October 18-20 in Orlando, FL.
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 MoreMulti-Part Series: The 7 Immutable Elements of Building Equity in Your FBO Enterprise©
Fourth Installment on Airport Lease
For this blog post, we’ll continue our series called the 7 Immutable Elements of Building Equity in Your FBO Enterprise© with the fourth installment on our first element: Obtaining a Long-term airport lease.
Read MoreMulti-Part Series: The 7 Immutable Elements for Building Equity in Your FBO Enterprise ©
Third Installment on Airport Leases
For this blog post, we’ll continue our series called the 7 Immutable Elements of Building Equity in Your FBO Enterprise© as we dive deeper into the topic: Obtaining a long-term airport lease.
In our last post, we covered: Term and Option Years, Operating Rights and Assignment Sale Clause. Now we are ready to discuss the next three lease elements: Payments, Maintenance Responsibilities and Termination.
Read MoreOver the next several blog posts, we will do an in-depth dive into each of these elements, providing valuable insight to help you navigate your way towards operating a more successful FBO business. For this blog post, we start at the top: Obtaining a long-term airport lease with extension options. Your lease with the airport authority is the lifeblood of your business. Here are the critical components of your airport lease that we will look at:
Read More7 Immutable Elements for Building Equity in Your FBO Enterprise ©
There are several reasons why FBO owners and operators should want to build equity in their operation. Chief among them are:
In creating a great customer experience at your FBO, sometimes you have to go outside the box and think organically.
By that we mean taking a leadership role that involves creating an internal culture where employees have a vested interest in the outcome of the enterprise. This is accomplished by treating all employees as true stakeholders.
Read MoreManaging your brand equity is all about managing your stakeholder relationships. For the purpose of defining these terms, your brand is the name of your FBO and your equity is not only what you have invested in building infrastructure, it is also the investment in developing the kind of image that you want your brand to project.
Stakeholders are primarily your customers, employees, vendors and suppliers. These are the groups that can form an opinion of your FBO and can send or disseminate messages about your brand, whether positive or negative. That’s why managing these stakeholder relationships are critical to your success.
Read MoreIn managing the day-to-day activities of your FBO operation, it’s important to motivate your service team in order to reach your desired operational objectives.
In developing your objectives, think of what your desired goal is (which is essentially a desired outcome). Objectives will help you focus on any particular task at hand and serve as a focal point for your service team as they work to achieve these goals.
Engaging customers in a meaningful and thoughtful way creates the glue that binds them to your FBO brand and helps broaden your market reach.
The more reach or penetration you have in your geographic area or region of influence, the more awareness you create for your brand, resulting in potential gain in market share.
Attracting and keeping transient FBO customers starts with making a first good impression; it begins with ‘curb’ appeal, or more aptly, ‘ramp appeal.’
Just like in the real estate industry, how potential or new customers perceive your operations starts with the moment they first lay eyes on your facility as they taxi onto your ramp.
As the effects of the COVID-19 pandemic on the U.S. and world economies begin to wane, the FBO industry is bracing for a slow but positive recovery.
This is part of our FBO industry forecast for the next three quarters and into the first part of 2022. Our forecast, threaded below, is based on our Annual FBO Fuel Sales Survey, interviews with FBO owners and aircraft operators, analysis of the oil markets and the aviation fuel industry.
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