The airline business is a capital intensive but highly lucrative business. This business targets the high-class in the society. This is how to start an airline business in Nigeria.
How To Start Airline Business in Nigeria
1. Have A Detailed Business Plan
A business plan gives you direction and opens your eyes to the wealth of resources you have at your disposal. Who are your target prospects? What things can you add to make your product more superior to your competitors? Hence you should have a detailed business plan.
2. Register Your Business Name
Before you can turn into a noteworthy airline businessman, you should register your business with the Corporate Affairs Commission (CAC) of Nigeria. This is to demonstrate how trustworthy your business is and how your business was supported lawfully. To begin the procedure of enlistment with CAC, it takes up to 2 a month to get the organization testament from any corporate Affairs Commission workplaces everywhere throughout the nation.
3. Management and Staffing
To run an aircraft business, you need to hire a good pilot, recruit cabin crew members, and also get other support staff who will help to successfully manage the business for you. How much you will be paying each of these members of staff will depend on their qualifications and experience. You will be able to know this from your feasibility studies and research.
4. Business Insurance
You need Insurance cover for your aircraft and other aspects of this business against eventualities. If you are sued, for example, you will need to present it. Also, aircraft business insurance will help salvage any liabilities during accidents. This insurance covers your staff too as well as your passengers on board.
5. Hire A Lawyer
Aircraft business is very risky and due to its complexity, you need to hire a lawyer who will help you with all the necessary paperwork in the Nigerian aviation industry. He or she will also help you to understand the laws, rules, and regulations governing the business in Nigeria.
6. Hire A Manager
Unless you want to run this business full-time, else, get an aircraft manager. It is either you hire a manager, or you commit the business to an aircraft management firm to help you run it, while you face other issues.