907Pilot wrote:I think that I may have worded my initial question wrong or in a way that wasn't helpful really at all.
I have a plane parked at Lake Hood Strip. It is a C-170A. That side of my equation is already buttoned up.
My wife and I have very little debt and a few income streams besides our traditional jobs. We will be able to leave the traditional work force in the spring and have "irregular" jobs if we want to (read that as self employed). This is what we want.
Do any of you guys instruct on your own in your own plane or is it just not worth your time?
So, you're saying you want to try to make a living instructing in your own airplane?
If that's what you're saying, I wish you much luck.
What SPECIAL skills can you offer a prospective student? Are you on floats? There MAY be a little business there, but lots of competition. Same goes for off airport...lots of competition. Doing primary students? In a 170? Solo? You can't afford to insure that plane, by the way. Can you afford to lose the plane? You can't afford to NOT carry liability insurance.....that'll suck up a lot of the profit.
Do a business plan....figure in all the expenses.....ALL the expenses, then take a stab at estimating how much training you might do.
I think you'll find the bottom line isn't going to be pretty....UNLESS you have something special to offer.
FWIW
MTV