Hi all, wondering who on here is on the business side of the homebuilt aircraft industry?
I'm tempted to start a business based primarily around the most simple of my designs: the modular SDDR/pt103/microlight/possibly motor glider design. The design has not gone through detailed design and is all so far preliminary design, but i am thinking of employing a couple of engineers at this stage to help speed up the process and leasing an industrial unit to get started.
The problem here is obviously that the business will be a money pit for the first few years, and wont turn over a penny/cent. Having engineers on the payroll obviously could help matters doing consulting etc, but i still expect this venture to cost several hundred thousand.
Just generally looking for some advice regarding this, it's difficult to compare to other industries and the typical 'start your own business' government websites have little relevant information...i've started a business with their assistance in the past (joinery and property development) but would be looking to sell it if and when my aircraft engineering business starts turning a profit.
Should be noted that i have more business experience than i do engineering experience, and although i'm not yet a qualified engineer, i can employ one (or 2) to do the detailed design and production design work rather than waiting till i'm fully qualified to start.
All help and advice is greatly appreciated.
I'm tempted to start a business based primarily around the most simple of my designs: the modular SDDR/pt103/microlight/possibly motor glider design. The design has not gone through detailed design and is all so far preliminary design, but i am thinking of employing a couple of engineers at this stage to help speed up the process and leasing an industrial unit to get started.
The problem here is obviously that the business will be a money pit for the first few years, and wont turn over a penny/cent. Having engineers on the payroll obviously could help matters doing consulting etc, but i still expect this venture to cost several hundred thousand.
Just generally looking for some advice regarding this, it's difficult to compare to other industries and the typical 'start your own business' government websites have little relevant information...i've started a business with their assistance in the past (joinery and property development) but would be looking to sell it if and when my aircraft engineering business starts turning a profit.
Should be noted that i have more business experience than i do engineering experience, and although i'm not yet a qualified engineer, i can employ one (or 2) to do the detailed design and production design work rather than waiting till i'm fully qualified to start.
All help and advice is greatly appreciated.