Opportunity:
Problem: There is a lack of aerial sight-seeing tours or
charter travel by air within the Cayman Islands and neighboring islands.
Who: Tourists and residents within the Cayman Islands or who
plan on visiting the Cayman Islands and would like to travel in a unique or
privatized way. Also tourists or residents who would like a new style of
touring the islands and surrounding areas.
Where: The Cayman Islands specifically, but neighboring
Caribbean islands as well.
Current Solution: There is currently a helicopter tour on
the island, but one helicopter with one pilot will not sustain the mass influx
of tourists during high season.
How long will it be open: Someone will surely recognize this
problem soon and given the right person, would be able to exploit the
opportunity.
Innovation:
Seaplane tours are very popular among tourists or by
travelling residents in small islands. Seaplane charters to neighboring
countries and islands or sight-seeing tours would be something that could be
very profitable in the Cayman Islands.
The customer would be paying for travel or tours by
seaplane. The money would specifically be used for operating costs of the
airplane and the pilot’s time. The price would be too difficult to determine
right now due to the different operating costs of airplanes and the different
taxation system in the Islands. My best estimate would be a flat rate of $150
per hour and an extra $25 per person.
Venture Concept:
Applying seaplane tours and charters in the Cayman Islands
would be an easy task. It would offer an alternative to airline travel between
the 3 islands and be a more interesting way to travel. Tours would be able to
reach places that would take boats too long to get to and cars can’t go. The
most difficult part would be competing with the long established helicopter
tour pilot, but in season there will be plenty of business to be going around.
Unfair Advantage: Being a citizen and having the right to
work in the Cayman Islands is something that eliminates several competitors and
having my seaplane license is another advantage.
What’s Next: The company would initially start with one
small airplane but in 5 years it would be incredible to watch it grow to
multiple planes and pilots or to larger planes for large charters.
What’s Next: I want to be a big name in the aviation
community, however that comes to be. If this venture would help boost me into a
prominent aviation figure, that is what I would like.
I like that you are thinking outside of the box. You have a specific place with a problem and sometimes that can be a really good market to tackle. There is absolutely potential there as the Cayman Islands are a very popular vacation spot. I really like your idea, and great job!
ReplyDeleteThis was a very interesting post. I feel that you have done a really great job separating your concept from others that may be like it. This concept is very unique, and I feel that it has the potential to grow into something big. Great job!
ReplyDeleteI like how you've planned out your days ahead of time. I especially like how you have an end goal and then goals beyond that. Part of being an entrepreneur is always looking for new ideas and looking to the future. This is a very interesting concept and I really appreciate you sharing it.
ReplyDelete