For Sale: Club Membership Unlimited flying for $500/mo Mooney M20F(KSQL)

Leftpaw

Filing Flight Plan
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Dec 6, 2018
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Leftpaw
Hi everyone,
As the title says I am offering a few flat rate lease spots in my Mooney M20F based out of KSQL.
As an owner, I wanted to offer a rental model that differs from the conventional format of renting by the hour. The truth is that fixed costs play a big role in aircraft costs, and the hourly rates must address the fixed costs in such a way that those costs are covered in peak times. So my aim here is to approach things differently and offer a program where you pay a flat rate over 12 months. This more directly addresses fixed costs. In return, you get to fly as much as you want and move your effective hourly rate down with each hour flown. Call it a rental program that is modeled after ownership.

Key points:
-This is limited to a small group, which keeps availability up.
-While there is no limit on the number of hours flown, there is a limit on the number of days the plane may be booked in advance without discussion.
-There is a 12-month contract requirement with a $1,000 deposit.
- You are responsible for fuel costs. The plane is on an auto fuel account so in practice, you will just be billed for the refuel. This allows you to shop for fuel on your cross-country flights and save a few bucks, and it saves me a number of headaches.
-The Keys are locked up in a code box at the plane, not in a key book locked in an office with business hours.
-You are responsible for your own checkouts and currency. I have a few Mooney instructors I can put you in touch with.
-There are minimum experience requirements. They *can* be waived but It would require paying for the increased insurance cost. Ideally, I want to find pilots that meet the requirements.

The plane is a 1974 M20F in good condition. It has a basic IFR panel with a GNS430/KX175/GTX327
It does 150KTAS on 10GPH in cruise and has a 1038lb useful load. The plane is a great cross-country traveler that flies on rails.

Moving forward,
Let me know if you are interested. If so, let me know if you have Mooney time, retract time, and what your total time is.

Regards
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Reminds me of the Diamondshare program. Good deal if you fly fairly often and the number of members is low. The Diamond program limits it to 2-4 partners. All-in was close to $1500 per 1/3 share. A rep was down here just a few weeks ago setting up a new owner and he was having no trouble finding folks to buy into the non-equity share.
 
I appreciate you chiming in. I haven't seen the Diamondshare plan, interesting.
 
I appreciate the endorsement. I sincerely think it's a pretty good deal for those that want to fly a lot. Including fuel cost if someone plans on flying an average of 4 hrs a month or 50hrs a year, it works out to about $165/hr...Fly 100hrs a year, you are looking at $105/hr.
 
I like the idea as well, and would look at it further if it was closer.

I’m curious at how effective this proposal would be, from a bottom line standpoint. $500 a month isn’t very much, when you take into account direct operating costs, engine reserve, hangar and maintenance—especially around the Bay Area where things are very costly. A cost analysis of this after a one year trial run would be interesting to see.
 
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If this was in Atlanta, I would definitely be all over that.
 
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