Groveling apologies for asking a question that must be perennial, but I'm sure that somewhere in the LAA's knowledge base there will a guide to avoiding all the potholes that lie ahead of a newly constituted group. Or does each group invent its own wheel?
Richard
Forming a group
Moderators: John Dean, Moderator
Rule one is get the right people who all want the same aircraft. I have set up three groups over the years and the best way to start is asses local interest in the aircraft you want. Go out and get it, and then sell shares. This way you get what you want, everyone who joins gets what he or she are expecting and you get to choose who you share with. Interestingly it is also possible to turn a profit at shares in the right aircraft in the right location are worth more than the actual hull value!
There is a set of group rules on the LAA site, but no idea on the exact location. If you have to continually refer back to the rules then you got the wrong people, and life can be very tough. Just one bad apple can ruin the group, cost you lots of money and make you wish you had not got involved. Having said that I have only had this happen once, and I have been involved in 5 groups over the years. I now run my own, because I built it and the running costs are very low, but will go back to group ownership one day.
Your total maintenance bill each year will increase for every additional member you add to the group, assuming the total utilisation remains constant. I have no idea why this is, but it has always been true for me. Lastly, in a mature 15 person group you will get at least 6 and possibly 12 people who hardly ever fly but who pay the monthly’s so they “own” an aircraft. This can be very good, or very bad, depending on a number of factors.
Remember that if it is an LAA permit aircraft, all group members must be LAA members. Interestingly, the same is not true of the BMAA, and this may save you a lot of money if you are planning a big group.
Hope this helps
Rod1
There is a set of group rules on the LAA site, but no idea on the exact location. If you have to continually refer back to the rules then you got the wrong people, and life can be very tough. Just one bad apple can ruin the group, cost you lots of money and make you wish you had not got involved. Having said that I have only had this happen once, and I have been involved in 5 groups over the years. I now run my own, because I built it and the running costs are very low, but will go back to group ownership one day.
Your total maintenance bill each year will increase for every additional member you add to the group, assuming the total utilisation remains constant. I have no idea why this is, but it has always been true for me. Lastly, in a mature 15 person group you will get at least 6 and possibly 12 people who hardly ever fly but who pay the monthly’s so they “own” an aircraft. This can be very good, or very bad, depending on a number of factors.
Remember that if it is an LAA permit aircraft, all group members must be LAA members. Interestingly, the same is not true of the BMAA, and this may save you a lot of money if you are planning a big group.
Hope this helps
Rod1
021864
The basic rules for setting up a group are on the LAA website HERE