How can I make money with my own plane?

I know that it's oft told that one should "Do what you love... the money will follow..." but I think the reality, more often, is that when you take something you love and turn it into something where profit becomes the motive, the love tends to fade and even turn to resentment. That is far more costly, at least to me, then to keep the things I love separate from my "jobs" and allow my "jobs" to pay for the things I love... which continue to remain things I love.

These are my deep thoughts for the day.

Oh... and selling your plane won't make you money in the vast majority of cases. Usually, you show a pretty substantial net loss.
 
MuseChaser said:
I know that it's oft told that one should "Do what you love... the money will follow..." but I think the reality, more often, is that when you take something you love and turn it into something where profit becomes the motive, the love tends to fade and even turn to resentment. That is far more costly, at least to me, then to keep the things I love separate from my "jobs" and allow my "jobs" to pay for the things I love... which continue to remain things I love.
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That's been my experience. Jobs are work. There is a reason they have to pay you to get you to do it. Confusious say when man turns hobby into a job, man ends up needing a new hobby.
 
MuseChaser said:
I know that it's oft told that one should "Do what you love... the money will follow..." but I think the reality, more often, is that when you take something you love and turn it into something where profit becomes the motive, the love tends to fade and even turn to resentment. That is far more costly, at least to me, then to keep the things I love separate from my "jobs" and allow my "jobs" to pay for the things I love... which continue to remain things I love.

These are my deep thoughts for the day.

Oh... and selling your plane won't make you money in the vast majority of cases. Usually, you show a pretty substantial net loss.
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Juliet Hotel said:
That's been my experience. Jobs are work. There is a reason they have to pay you to get you to do it. Confusious say when man turns hobby into a job, man ends up needing a new hobby.
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I've had jobs that I enjoyed, and jobs that I didn't. I prefer the former.
 
Palmpilot said:
I've had jobs that I enjoyed, and jobs that I didn't. I prefer the former.
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I'm not saying its impossible to have a job you enjoy. What I'm saying is even the most enjoyable job is still a job. If you turn your hobby into a job, it isn't going to be a hobby anymore, its going to be work.

I really enjoy woodworking projects in my shop. After turning my aviation hobby into a job, I can absolutely say I would quickly come to never want to see the inside of a woodshop again if woodworking were my job.
 
Jared Smith said:
ive always been into aviation all my life but it’s really just hit me in the last 3 years or so. I’ve been flying since 2017 and have a piper arrow that I fly for recreation, Hopefully this spring I will have my ifr behind me as well. I’m self employed and enjoy what I do however I just have this itch that says start up a flying business! That all sounds good and well but I’m running short on ways to make flying pay! My plan would be to sell my arrow and buy a TBM 700 and fly lease out to a couple businesses and fly employees but I’m just not seeing this cash flowing. I’m not resourceful enough to know anything about the freight world. My history is in agriculture which says buy an at502 but my wife says NO to crop dusting. I have enough capital I should be able to buy a nice used tbm or something of that nature if I have good solid business plan of how to make GOOD money doing it.
Any ideas?
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Keep your money and work for other people as a pilot for a couple years. You’ll most likely learn enough as hired help to keep that money in the bank. If you do still want to go out on your own you’ll have a much better idea where and with what equipment to position yourself for success.
 
I believe that it's far better to make money first on sth else and then to organize some kind of "sightseeing flies from the air " thing and enjoy your plane and people you're giving emotions by organizing such trips. When I was just establishing my own business I had already earned my initial capital by taking online surveys. I know that it sounds kinda ridiculous, however it actually worked out for me owing to the article providing all necessary info about online surveys for money. Worth checking))
 
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I haven't read this whole thread so pardon if this is a repeat.

You cannot make money with your own airplane. The only people who make money in aviation DO NOT own operate airplanes (except lessors). An airplane owner is simply a profit center for the rest of the industry.
 
I'm going to have to disagree with Arnold. It's certainly NOT true in general. While it is often the case that the owner and the operator of aircraft are different people, there can be money made on both sides. Mr. Steven F. Udvar-Hazy would beg to differ with you. He's worth about four billion dollars from owning aircraft and he was told by people like you his business wouldn't work, but he, fortunately, didn't listen to them.

I know of a few people who have successful aircraft business either as owner-operators or as lessors. The key is to operate the ownership as a business. If you do it as a way to try to own an aircraft and still make a buck on it (or defray your personal ownership), you'll likely lose.
 
flyingron said:
I'm going to have to disagree with Arnold. It's certainly NOT true in general. While it is often the case that the owner and the operator of aircraft are different people, there can be money made on both sides. Mr. Steven F. Udvar-Hazy would beg to differ with you. He's worth about four billion dollars from owning aircraft and he was told by people like you his business wouldn't work, but he, fortunately, didn't listen to them.

I know of a few people who have successful aircraft business either as owner-operators or as lessors. The key is to operate the ownership as a business. If you do it as a way to try to own an aircraft and still make a buck on it (or defray your personal ownership), you'll likely lose.
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Why you think those people were like me is beyond my comprehension. Do you know me? Do you know them? Please don't make assumptions. If I remember correctly Udvar-Hazy made money leasing airplanes which I specifically exempted (parenthetically) in my post. I failed to add an emoji to indicate that this was somewhat tongue in cheek. I agree with you that some people make money in aviation.

P.S. Your fly in community looks very nice.
 
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