By: JENNIFER ALSEVER
Targeting an unexpected market segment (jet owners) and cutting out a huge startup cost (buying planes), Magellan Jets has seen its business really take off.
As the 2008 recession decimated the private-jet-rental industry, Joshua Hebert saw opportunity in all those empty planes. He and Anthony Tivnan launched Magellan Jets, an aviation broker offering charter flights and membership programs that include 25- to 200-hour buckets of private-jet flight time. A key to the company’s success at launch was its guarantee to members that they could book a jet virtually anywhere with just 10 hours’ notice. Annual memberships start at $100,000. Revenue grew 1,600 percent in its second year, and the company now guarantees a plane with as little as eight hours’ notice. Magellan’s continued growth, says Hebert, is the result of cultivating deep vendor relationships and identifying an unexpected customer base.
Click here to learn more about Magellan Jets and the Charter and Membership options available.