Syndication - the debate

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Point 6 is really vital to drive home. One doesn't have to read pilot forums to realise how many people are trying to fly on a shoestring, and want the lowest cost coupled with minimal commitment. OK, it is a hugely enjoyable and addictive activity But there is no free lunch. A syndicate is the nearest you will get to one, but costs do have to be met "somehow".

BTW, set up rules for the duty drawback. Foreign flying is very rewarding and the duty drawback is a nice bonus at the end of it. But IMHO one should either account for the effectively cheaper fuel completely fairly (via rebates on the wet rate, until the "draw-backed" fuel is all consumed, or whatever) or the drawback should simply go into group funds. I've heard too many tales of drawback related mick-taking, and when I was renting my plane out years ago I had two cases of renters quietly pocketing the drawback. Both were instructors, oddly enough... I suppose they knew the game.

These were my thougts, in no particular order.

1. Select a plane that has the appropriate capability in terms of performance, equipment, airworthiness.

2. Choose members who can debate sensibly but also agree to compromise when required.

3. Find out when each group member prefers to fly (weekends, weekdays, two week long trips).

4. Make sure members will be committed and have some funds to deal with emergencies / unforseen costs.

5. Find out what kind of flying each member likes to do (VFR, IFR/IMC) and what kind of equipment they require to be maintained.

6. Agree who will be responsible for maintenance issues, finance, cleaning the plane and other aspects of plane ownership.

Finally, make sure there is a contract describing the shared agreement for the planes usage and operation, and how majority voting will be enforced.

That was what I found...

The problem is that your market gets chopped off at the top end, by the "fact" that those with good money buy their own plane. Also nearly all IR holders (who actually fly) have their own plane.

I would perservere. Put up an advert at your airfield saying something like that a syndicate is being formed around a good quality aircraft and you are looking for good quality people. I'd be quite up front about that. There is a lot of time wasters in GA but most of them know they are time wasters and if you put your cards on the table and sound like you know what you are doing, they won't bother you in the first place.

As in business, a good clean smart corporate image attracts the nice customers

In the long run, you may have to accept anyone who has the money to buy a share. Three years ago we allowed a guy who was just starting to learn to buy a share that had been on the market for a long time - the seller no longer flying our aircraft. For the group, it worked out well - a first rate member. For him, it's been a struggle to get to grips with a taildragger on tarmac, after a NPPL in a Pa38 and a taildragger convertion on grass - but has had the advantage of letting him gain confidence with an experienced pilot in the passenger seat.

I have been involved in setting up two groups, the first was just two of us and lasted 5 years till my friend had to give up flying. The second and current is three of us with a vacancy for a fourth.

I would order the priorities thus:

1: Decide in your own head what type of flying you wish to do.

eg: trips/bimbling, VFR/IFR, comfy/responsive. The IFR/VFR decision has the most ongoing cost implications (here in the UK anyway)

2: Find some other people who also wish to do the same type of flying.

This took at least 6 months active searching for both of the above groups so don't be in a rush. Be prepared to start with less people than you ultimately wish to have in the group. This will also test out the actual depth of member's pockets. Also there are two types of people out there. Those that will create new things and those that prefer to join in. Both can make very good partners but only one type will help form a new group.

3: Agree group size then a purchase and annual running cost budget

The ideal group size IMHO is 4 perhaps 5. 4 is the sweet spot for availability and cost where everyone will fly with adequate currency.

Budget for the best most modern aircraft that the group can afford but allow for about 20% extra after purchase to get it to zero defects.

4: Go find an aircraft.

You will have to kiss a lot of frogs but don't give up as your aircraft will be sat there waiting for you somewhere. There is no aircraft that some 'expert' won't rubbish in forums so become knowledgeable as a group about what you may wish to buy. Don't believe anything a seller or his agent says. If they won't let you photograph all logbooks to study at home walk away.

5: Get a DIFFERENT engineering company to do a pre purchase inspection.

The cost of this will easily be paid for in negotiation when the list of defects comes back. There WILL be a list of defects in anything you buy used so don't be put off. Bargain hard but put yourself in the sellers position too or you could lose a good aircraft. Remember it has been his pride and joy.

6: Copy an agreement from an established group and tweak it to what you all wish to do.

Hope this helps

Steve

5: Get a DIFFERENT engineering company to do a pre purchase inspection.

Different from the sellers one, I take it. Not different from the one you are likely to use. We saved the cost of OUR engineer going from Inverness to Cornwall by what he found.

[edited for layout]

I'm another member of SteveN's current group. At the time I joined (before we even had an aircraft), I had the alternative choice of joining an existing group that operated the aircraft type I most wanted to fly. Because I got on well with Steve and the other chap, I accepted their invitation. It is better to have a good group and perhaps not your first choice aircraft than to have the perfect aircraft but group issues.

I'm not suggesting that the other group has any problems, but I had no idea one way or the other.

As it happens, we ended up buying my first choice aircraft type anyway, so I got the best of both worlds :)