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Iman Gadzhi buys a $30,000,000 private jet from The Jet Business

TheJetBusiness・32 minutes read

The Jet Business focuses on efficient operations and high asset value, targeting the upper market segment with personalized services and long-term relationships. Owning a private jet offers flexibility, cost savings in the long run, and a personalized travel experience, but entails significant considerations like maintenance costs and unexpected inconveniences from renting out the aircraft.

Insights

  • The Jet Business prioritizes long-term relationships and referrals for sustainability, engaging potential buyers through educational showroom visits that offer a personalized experience with confidentiality maintained through discreet client visits and a full bar.
  • When selecting a corporate airplane, key factors include budget, cabin layout, age of the aircraft, maximum range for non-stop flights, baggage capacity, and financial planning considerations like fixed and variable expenses, potential profits from chartering, and unexpected relocation costs.

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Recent questions

  • What is the focus of The Jet Business?

    Time efficiency and capital asset value.

  • How does The Jet Business engage potential buyers?

    Through an educational showroom experience.

  • What are some key considerations when selecting an airplane?

    Maximum range, cabin size, and budget.

  • What are the benefits of owning a private plane?

    Flexibility, cost savings, and personalized travel experience.

  • How does The Jet Business ensure client confidentiality?

    Through a secret door for discreet client visits.

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Summary

00:00

Luxury Jet Business Showroom: Time Efficiency & Value

  • The Jet Business operates with a focus on time efficiency and capital asset value.
  • The trading floor resembles a Wall Street setup, with desks designed like a bombardier Global jet cockpit.
  • The sales and research team contacts jet owners worldwide, focusing on the upper market segment.
  • Long-term relationships and referrals are prioritized for business sustainability.
  • The founder started selling airplanes in 1980 after working in Capitol Hill and meeting a jet salesman.
  • The decision to open a showroom came after a hiatus from the aviation industry due to market shifts.
  • The showroom serves as an educational tool, engaging potential buyers for hours.
  • Confidentiality is maintained with a secret door for discreet client visits.
  • The showroom features a full bar and a club room for presentations, even at late hours.
  • Personal touches in the showroom include artwork and aircraft cross-sections, enhancing the client experience.

12:44

Choosing Corporate Airplanes: Size, Range, and Cost

  • Gulfstream 700 and Bombardier 7500 are the largest corporate airplanes currently available.
  • The video wall accurately represents the size of the passenger cabin from the Galley door to the bathroom door.
  • Filtering out airplanes based on budget is essential, with 27 models priced over $30 million eliminated.
  • Choosing between one, two, or three cabin sections depends on the number of passengers and desired layout.
  • The age of the airplane is crucial for bank financing, with a 20-year limit set for the loan term plus aircraft age.
  • Maximum range for non-stop flights, like Dubai to London, is a key consideration for selecting an airplane.
  • The Gulfstream 550, Challenger 650, Falcon 900 LX, and Praetor 600 are options for long-range flights.
  • Baggage capacity is a significant factor, with the Gulfstream 550 offering 6.4 cubic meters of luggage space.
  • Comparing cabin sizes and layouts between different airplane models is essential for passenger comfort and convenience.
  • Considering the cost breakdown between fixed and variable expenses, as well as potential profits from chartering the airplane, is crucial for financial planning.

25:12

Private Plane Ownership: Costs and Benefits

  • Flying private can incur relocation costs, which can be frustrating, especially when unexpected. Companies may charge extra fees for positioning the plane to certain locations, but it's not the full Charter rate, rather a negotiated fee based on direct operating costs.
  • Owning a plane involves various considerations, such as maintenance costs and potential damages. Some owners choose to rent out their planes to offset expenses, but this can lead to unexpected inconveniences like interior damage or strict rules for renters.
  • Having your own plane offers flexibility and convenience, allowing for spontaneous trips and cost savings in the long run due to reduced per-hour costs with increased usage. It also provides a comfortable and personalized travel experience for you and your companions.
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