As businesses continue to grow, there will need to be more investments that get put into the day-to-day operations. These are things that promote productivity, efficiency, and can help save money on your business expenses. Just like purchasing advanced digital software, purchasing an aircraft also has significant benefits for the growth of your company.
When it comes to investing in an airplane for your business, it’s about looking at the bigger picture. Here are just some of the benefits your company can obtain from owning or leasing a professional aircraft.
It Can Save Your Company Money
Acquiring an aircraft for one’s company can actually help to save money. One of the most expensive purchases companies make throughout the year is on travel for their employees. A company aircraft allows for multiple stops to be made. This can ultimately help save thousands of dollars on hotel fees, rental cars, meals, and other various expenses that it would require to make a multi-stop business trip.
Let’s not forget that your company will also be losing out on work that the employee who is traveling might not be able to do. If you have them driving from city to city, they’ll be spending more time behind the wheel than being able to accomplish their sales goals. If they have to wait several days throughout the month at an airport, they aren’t able to spend that time achieving your global partnership goals.
With a company like JetLoan Capital, they can offer financing that ends up making the overall cost of transportation for you, your employees, and your products that much more affordable, especially with there being significant tax benefits as well.
Don’t Forget About Tax Breaks
Speaking of tax breaks, your company may be able to save more money than you think. According to the General Aviation Manufacturers Association, general aviation aircraft sales increased by nearly five percent in 2018. Why? Because of the implementation of the bonus depreciation tax deduction.
After a tax overhaul done by Republican lawmakers, companies were provided a tax break for any investment they made towards various equipment and machinery. This also included the entire cost of an airplane during the first year of owning it.
You’ll Increase Productivity and Efficiency
As we mentioned before, many employees find themselves having to take multiple flights to various destinations around the country. In these cases, they could even end up having to drive or fly countless hours to try and save the business money. Talk about lack of efficiency.
Since an aircraft can allow for multiple employees to be on a plane at once, you’ll be cutting back hours wasted at the terminal or driving on the road, and they’ll be able to have more time to have meetings on the airplane itself. Your business will be able to accomplish more in one day than it would in a week simply because of the amount of time traveling takes up.
Your Company Will Have a Competitive Advantage
Think about it. If your company has the ability to relocate multiple employees quickly around the world, you’ll have significantly more of an advantage than a company that doesn’t own an aircraft.
Say you’re a public relations firm that is in the works of solidifying a deal with a big Fortune-500 company. You’re going against several other firms that are highly credible in the industry. This Fortune-500 company wants to set a meeting with you right away.
Instead of having your employees travel through a traditional airline or make the long drive, your employees can prep on the company airplane and be there within the same day. Showing your firm’s willingness to go above and beyond their expectations to put their needs first will make your business stand out from the competition.
If you’re considering acquiring an aircraft for your business, make sure to do a full evaluation of cost and productivity. Talk with your financial team to see if this would end up making the most sense for your company.