Why More Indian Entrepreneurs Are Joining the Jet Set

Why More Indian Entrepreneurs Are Joining the Jet Set

Why More Indian Entrepreneurs Are Joining the Jet Set

Although the exact numbers aren’t known, there are roughly 12,500 private business jet owners in the world, with the majority of these aircraft based in the United States. Clearly, that’s a very small percentage of the population. Of course, the percentage of people that can afford to own their own jet is rather small as well. However, just because you don’t own a private jet that doesn’t necessarily mean you can’t fly in one. That’s a new concept that has helped one young entrepreneur from India, and her business really takes off.

The Uber of the Skies

By now just about everyone has heard of Uber and Lyft, which have changed the transportation world, as we know it. No longer do people have to call a cab if they don’t want to drive themselves, thanks to these personalized shuttle services. So could this concept work in the aviation industry? Not only could it work, but it is working for the founder and CEO of JetSetGo, Kanika Tekriwal. Tekriwal started her company in 2012 and has enjoyed profitability since its inception. Based in India, JetSetGo has discovered a large market for her company’s services, which is essentially a taxi service in the sky.

No-Brainer for Customers

For example, let’s say you want to fly to New York and enjoy a Broadway show and an extravagant meal. Just throw down 20 million rupees ($300,000) and JetSetGo will get you there and back without any trouble. Prefer to take a short flight? That will cost about 200,000 rupees, or $3,000. Of course, this service is not for everyone, but according to Tekriwal, the company’s average customer has a net worth of about $100 million. Therefore, if you have the money to afford such luxury, why wouldn’t you use it? In fact, the JetSetGo CEO says it doesn’t take much to convince a potential customer to splurge on a private jet trip.

Win-Win for Everyone

The business has been a huge success because it relies on private jets already in the fleet. Customers don’t have to pay to purchase their own jet but instead get to use one of the 16 jets the company has access to. In exchange for managing and operating the private aircraft for the owners, JetSetGo gets the right to rent the aircraft out to its customers. JetSetGo supplies all the crew, engineers and everything else, including catering. It’s a win-win because they make a profit for the plane owners and their customers get luxury service for a great price.

Clear Skies Ahead

The future looks very bright for JetSetGo, as well. That’s because the travel industry grew by more than 20 percent in India in 2015 and those numbers are expected to continue to go up, as the country is on pace to surpass the U.K. as the third-largest aviation market in the world by 2026. Plus, India is currently home to more than 200,000 millionaires, which means the market for this service is also likely to keep growing.

 

We hope you found this article about “Why More Indian Entrepreneurs Are Joining the Jet Set” helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at www.GROCO.com.  Unfortunately, we no longer give advice to other tax professionals gratis.

To receive our free newsletter, contact us here.

Subscribe to our YouTube Channel for more updates.

Alan Olsen, CPA

Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com.  GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.

Alan L. Olsen, CPA, Wikipedia Bio

 

 

GROCO.com is a proud sponsor of The American Dreams Show.

 

American-Dreams-Show-Accounting-firm-in-ca-cpa-tax-advisors-groco-alan-olsen

The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.

Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.

They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:

Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…

Untitled_Artwork copy 4

MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness.  It’s mission statement:

In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.

Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.

Posted in
Leadership, Duty, Honor & Country With Lt. Gen. Mike Barbero

Leadership, Duty, Honor & Country With Lt. Gen. Mike Barbero

Retired US Army Lieutenant General, Michael D. Barbero, discusses leadership, service, duty, honor, and country on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is General Michael Barbero. General, welcome to today’s show.   Mike Barbero Thanks, Alan, how are you? Thanks for having me. It’s…

Regenerative Medicine and Creating Wellness with Dr. David Haasse

Regenerative Medicine and Creating Wellness with Dr. David Haasse

Dr. David Haasse, Founder of the MaxWell Clinic discusses regenerative medicine and creating wellness on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Welcome to American Dreams. My guest today is David Haasse. David, welcome to the show.   David Haasse Thanks, Alan.   Alan Olsen So do you have a remarkable background and career obviously that lot…

VC Insights From Silicon Valley Veteran Andrew Romans

VC Success With Silicon Valley Veteran Andrew Romans

Andrew Romans, General Partner of 7BC Venture Capital, Author, and University Professor discusses navigating Silicon Valley, venture capital (VC), startup success, and the future of tech investment on Alan Olsen‘s American Dreams Show. Transcript:   Alan Olsen Welcome to American Dreams. My guest today is Andrew Romans. Andrew, welcome to today’s show.   Andrew Romans Thank you so…

How Entrepreneurs Shine by Gino Wickman

How Entrepreneurs Shine With Gino Wickman 

Gino Wickman, Founder of EOS Worldwide and author of “Shine” and “Traction: Get a Grip on Your Business” discusses How to shine as an Entrepreneur on Alan Olsen‘s American Dreams Show. Transcript:   Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Gino Wickman. To welcome to today’s show.   Gino…