Setting up a Syndicate in Oz

[daviojk]

Hi

A recent addition to the household, means 'Ground' is only giving me restricted clearances :sad:, so I am looking to setup a syndicate for my aircraft. I am not interested in renting it out, as in my experience it will get trashed :uhoh:

It is common practice in the UK, but after Googling (and looking on PPrune), I am struggling to find much about it here in Australia,

The aircraft is owned by a Pty Ltd, and the plan is to sell shares in the company to the syndicate members. Well aware of the potential pitfalls of large syndicate, so it will be restricted to a max of 4 pilots with sufficient experience.

Before, I start to incur professional fees in setting it up, are there any pointers, pitfalls, advice from people who have done something similar here in Australia?

Many thanks

[sasben]

A big one for me was getting an instructor into it as well. Then they can take care of the other members.

Our pty ltd was run with between 6 to 7 members, usually with one leaving and joining per year or two.

aviation trader is a good start to find people.

[Jabawocky]

If you can find one partner, and you both fly a fair bit, that will mean plenty of flying, not too much wear and tear, and you both know who did what.

All fixed costs charged out 50/50, such as hangar and insurance and all variable costs calculated out such as overhaul allowance, general maintenance etc and charged to the user as used. Pay your own fuel, and always leave her full.

Worked for me now for 7-8 years.... Mind you I have the best aircraft partner possible, so you will have to settle for second best:ok:

[Jamair]

All ya gotta do now Jaba is convince him that yous need a TBM850....:}

[Jabawocky]

That or a PC12...... Or Lancair Evolution.

We have discussed all these options a bit. Just one missing thing, and it's just a simple thing, a "zero" :sad:

[VH-XXX]

There are plenty of syndicates operating in OZ. Some work well and some don't. Worst one I know of the members keep crashing it and the repair time is very frustrating.

[WannaBeBiggles]

There's a couple of well established syndicates in BSK, why not just buy in to one?