Lansing Aviation is a new company that provides aircraft rental for general aviation enthusiasts, flight instruction, and a dependable aircraft to build flight hours. We will focus on aircraft rental for registered pilots and rental for beginning and advanced flight training. Initially we will be marketing our new business with aircraft specifications which include:
- Clean, safe, and nice-looking aircraft readily available.
- Professionally maintained by certified aviation technicians.
- Continuously updated with leading-edge avionics.
2.1 Company Ownership
Lansing Aviation, LLC has been created and legally organized as a Michigan Limited Liability Company based in Lansing, Michigan. The principle investors and operators will be responsible for all airplane acquisitions and company decisions.
2.2 Start-up Summary
The start-up costs of Lansing Aviation, LLC include:
- An aircraft down payment.
- Office expenses.
- Down payment on aircraft renter’s and flight instructor’s insurance.
- Hangar deposit and first month’s rent.
- Aircraft loan application fees.
- ADF radio purchase.
- A small cash reserve.
- Legal costs.
These are detailed on the following chart and table.
|Legal — Attorney Fees||$400|
|Office Supplies / Expenses||$200|
|Aircraft Insurance Down Payment||$925|
|Hanger Down Payment + 1st Mo. Rent||$600|
|New ADF Radio||$575|
|Aircraft 10% Down Payment||$3,600|
|MBNA Loan Origination Fee||$250|
|Total Start-up Expenses||$6,550|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$6,550|
|Start-up Assets to Fund||$36,300|
|Total Funding Required||$42,850|
|Non-cash Assets from Start-up||$36,000|
|Cash Requirements from Start-up||$300|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$300|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Michael J. Zorn – president||$10,450|
|Additional Investment Requirement||$0|
|Total Planned Investment||$10,450|
|Loss at Start-up (Start-up Expenses)||($6,550)|
|Total Capital and Liabilities||$36,300|
2.3 Company Locations and Facilities
Lansing Aviation will operate its aircraft out of Capital City Airport (LAN) in Lansing, Michigan. The aircraft will be hangared on the airport located just north of the I-96 Expressway and Airport Road exit. Students, renters, and instructors will be given full access to the hangar facilities. The aircraft records, scheduling, and office will be located at an off-airport location 15 miles north of Capital City Airport.