Do you feel as if you are a naturally gifted salesperson and want to step into a world where aviation and sales collide? Then you might be interested in learning to become an aircraft broker!
If you have ever been on the fence about becoming a broker or even thought about it but never really took the plunge, then this article is for you.
In this post, we will discuss what being an aircraft broker entails, how to get started, and some of the benefits that come with the job title.
What Is An Aircraft Broker?
An aircraft broker is someone who buys and sells used airplanes. They work directly with customers and other brokers to find them the right airplane at the best price.
An aircraft broker can also help people buy new planes from manufacturers.
This type of broker works closely with the manufacturer’s representatives and helps negotiate the sale. The broker may also assist with financing options and arrange for delivery.
How To Become An Aircraft Broker
To become an aircraft broker, you must first decide whether you would like to specialize in buying or selling.
If you choose to sell, you need to learn all aspects of the industry. You should know the types of planes available, their prices, and how they compare to similar models.
You should also understand the different ways that buyers purchase planes. Some prefer to do so through private sellers, while others prefer to go through dealers.
Once you have learned everything there is to know about the market, you can start looking for clients.
Most brokers begin by working with close contacts such as friends and family members before branching out to larger groups.
Benefits Of Being An Aircraft Broker
Once you have established yourself as an expert in the field, you can expect to earn a good living. According to the Bureau of Labor Statistics (BLS), the median annual salary for aircraft brokers was $65,230 in May 2016.
The BLS reports that employment opportunities for aircraft brokers grew by 25 percent between 2010 and 2014.
As more companies continue to cut costs and increase efficiency, demand for these services is expected to grow further.
Another benefit of becoming an aircraft broker is that you can travel frequently. Many brokers spend time traveling around the country meeting with potential clients.
This gives them the opportunity to visit many airports and meet with many different people. It also allows them to build relationships with people who could potentially hire them later on.
As mentioned above, one of the biggest perks of being an aircraft broker is that it offers great flexibility. Because your schedule depends largely on client needs, you can easily pick up and drop off jobs whenever you want.
However, because most brokers work alone, they often face long hours. For example, a typical day might involve making calls, visiting clients, and attending meetings.
In addition, brokers usually work outside of normal business hours. This means that they are not always able to take advantage of the flexible schedules offered by some employers.
According to the BLS, the average number of hours worked per week by aircraft brokers was 40.7 in 2015. However, this varies widely depending on the company and position.
Some brokers work full-time, while others only work part-time. In either case, however, they typically work at least 35 hours each week.
Aircraft brokers generally work Monday through Friday, although some work weekends too. They may be required to work additional hours if they are hired by a large corporation.
In order to become an aircraft broker, most states require applicants to hold a license. However, this varies depending on the state.
Some states only require candidates to be licensed if they plan to represent themselves. Other states require anyone representing themselves to be licensed.
If you already have experience in the industry, you may be able to skip the licensing process altogether. However, you will still need to pass a background check and complete certain training courses.
Before applying for licensure, you will need to submit several documents including:
• A copy of your resume
• Proof of your education
• Your fingerprints
• Documentation showing that you have completed any required training
You will then need to pay a fee to apply for your license. Depending on the state where you live, you may need to wait anywhere from three months to two years before receiving approval.
After you receive your license, you must renew it every year. You will need to provide proof of continuing education or risk losing your license.
What Is The Difference Between An Aircraft Dealer And A Broker?
An aircraft dealer sells used planes. They do so by selling parts and offering maintenance services. They also sell new planes directly to customers.
On the other hand, an aircraft broker represents companies that buy and sell planes. They act as middlemen between buyers and sellers.
Becoming an aircraft broker is a rewarding career choice. It allows you to make money without having to deal with all of the hassles associated with owning and operating a plane.
Because brokers are independent contractors, their income often comes solely from commissions earned when they sell a plane.
As such, they can set their own hours and choose how much time they want to spend working each day.
However, there are many different types of aircraft brokers out there. Some specialize in one type of aircraft, while others cover multiple types.
If you’re interested in becoming an aircraft broker, start looking into what positions are available in your area.
Frequently Asked Questions
Do You Need To Have Previous Aviation Experience?
No. However, there are some jobs that require previous aviation experience. For example, pilots usually need to have logged thousands of flight hours before being allowed to fly commercial flights.
If you don’t have any prior experience, though, you should still try to learn about the industry. There are plenty of ways to learn about aviation.
You can read books, watch documentaries, attend seminars, and even take online classes.