Anybody have any experience setting up a flying club, or flying co-op? There are four of us going in together on a airplane. Thought about doing a LLC and membership fees. Thought the LLC would be the best for liability reasons. Anybody have any ideas?

Trent

If you are an AOPA member, you can visit the website and view information on aircraft ownership, specifically parterships and flying clubs. They provide examples of agreements and advise ways of structuring the club/organization.

obxbushpilot wrote:If you are an AOPA member, you can visit the website and view information on aircraft ownership, specifically parterships and flying clubs. They provide examples of agreements and advise ways of structuring the club/organization.

Didn't even think about AOPA. THANKS!

madpilot,

An LLC works good but you should be aware of the paperwork requirements. I spend about 8 to 12 hours a year filing returns for the LLC. Please note that I am in Pennsylvania and it may be different for you where you live.

Good luck!

1) Choose your members VERY carefully.
2) In most of these deals, one or two members wind up doing ALL the paperwork, arrange for all the maintenance, and suffer ALL the headaches. If you're the one thinking about starting one, guess who that will be?
3) Find a WELL qualified CFI to conduct THOROUGH initial checkouts and recurrent training.
4) Make a training plan, and REQUIRE ALL members to complete it, or no fly. You don't have to put on the training, but you need to specify what meets the requirements.
5) Include a provision in your bylaws which permits you to get rid of a member for cause. There'll be one, trust me.

These things CAN and DO work out well, but only if they are well thought out to start with, and everyone plays by the rules.

MTV

mtv wrote:1) Choose your members VERY carefully.
2) In most of these deals, one or two members wind up doing ALL the paperwork, arrange for all the maintenance, and suffer ALL the headaches. If you're the one thinking about starting one, guess who that will be?
3) Find a WELL qualified CFI to conduct THOROUGH initial checkouts and recurrent training.
4) Make a training plan, and REQUIRE ALL members to complete it, or no fly. You don't have to put on the training, but you need to specify what meets the requirements.
5) Include a provision in your bylaws which permits you to get rid of a member for cause. There'll be one, trust me.
Like landing on the beach
These things CAN and DO work out well, but only if they are well thought out to start with, and everyone plays by the rules.

MTV

I agree with all of the above. Try and get members (owners) that you can delegate out duty's. A CFII, an A&P, CPA/bookkeeper ect.
Here's a thread on partnerships a while back. I think 2-4 people is a considered a partnership, 5 and more is considered a club?
viewtopic.php?f=46&t=6601&p=84515&hilit=partnership#p84515