Share in 500 - any tips??
Join Date: Nov 2002
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500 share system
Hallo MM,
You might know that as part of my 1980s & 1990s business of Starline Helicopters at Biggin and Redhill, the directors formed a subsidiary limited company business of Heli Sport. That was when a 500C could be purchased for around £100k. Heli Sport offered flying club memberships rather like a golf club. Pilots paid for a membership which lasted one year, but the big difference was we limited membership to twelve. The fee was £8,000 a year payable by a deposit of £5k and ten monthly payment of £300. Membership included a maximum of 30 hours each year after which further hours could be flown at £200 an hour, subject to being a 'second call' basis to other members. You might know the really posh golf clubs charge close to this figure PLUS a one-time entry fee sometimes as high as £20k. Our membership was sold out with a waiting list. A booking system was naturally necessary including allocating premium weekend flying slots which could be exchanged with other members. The business ran successfully for several years until sold. I believe it was continued by the new owners for several years.
The trick was of course to carefully select pilots with an acceptance flight check and any instances of bad airmanship was cause for forfeiture of membership. For eg, we had one member who arrived at Stapleford in a snowstorm and left the machine untied overnight causing me to make a midnight trip to recover the situation. That event was the only membership forfeiture we applied.
You would need an engineering price contract and suitable insurance and best to have a TRE on board. Hope some of this helps your project. Dennis K.
You might know that as part of my 1980s & 1990s business of Starline Helicopters at Biggin and Redhill, the directors formed a subsidiary limited company business of Heli Sport. That was when a 500C could be purchased for around £100k. Heli Sport offered flying club memberships rather like a golf club. Pilots paid for a membership which lasted one year, but the big difference was we limited membership to twelve. The fee was £8,000 a year payable by a deposit of £5k and ten monthly payment of £300. Membership included a maximum of 30 hours each year after which further hours could be flown at £200 an hour, subject to being a 'second call' basis to other members. You might know the really posh golf clubs charge close to this figure PLUS a one-time entry fee sometimes as high as £20k. Our membership was sold out with a waiting list. A booking system was naturally necessary including allocating premium weekend flying slots which could be exchanged with other members. The business ran successfully for several years until sold. I believe it was continued by the new owners for several years.
The trick was of course to carefully select pilots with an acceptance flight check and any instances of bad airmanship was cause for forfeiture of membership. For eg, we had one member who arrived at Stapleford in a snowstorm and left the machine untied overnight causing me to make a midnight trip to recover the situation. That event was the only membership forfeiture we applied.
You would need an engineering price contract and suitable insurance and best to have a TRE on board. Hope some of this helps your project. Dennis K.
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Heli sport ran very well! I was a member in 1992 and flew many happy hours in 'Oscar Oscar' when it was based at Redhill. Aircraft availability was pretty good and I do not remember any issues between members. It was there I gained my H369 type rating with the one and only Dennis K.
Last edited by Buttocknurdler; 9th Mar 2013 at 16:40. Reason: Corrected spelling of 'Dennis'
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I have been doing more digging and this is a very popular and workable scheme. I am in the process of putting together a prospectus, so if anyone is interested, please get in touch me with a PM.
Thanks again Dennis.
MM
Thanks again Dennis.
MM
Join Date: Aug 2007
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helispeediii
helisport was a great idea as dennis says,good members good times, i also think the 500 is the right machine,not as fragile as a 206, good luck helispeed iii[ also a partner in helisport ]
