I saw the shortage of quality, timely maintenance coming in our area about three years ago. I would rather not go into detail on an online forum but let's just say the overall quality and availability of maintenance was obviously declining and that shortage had become a safety issue.
Because I have a personal interest in earning my A&P and I also need access to reliable maintenance (my wife and I are both pilots and we own two aircraft, a Mooney Bravo and a Cherokee 180), I made an agreement to purchase the local maintenance shop. My other motives for doing so were to stabilize the maintenance for my fellow pilot /owners on the field and in the area and to have an outlet for my commitment to lifelong learning upon retirement (coming in the next 5-10 years) Here's a photo of my Bravo in the shop undergoing a little TLC:
I have one full time mechanic and three part time mechanics currently working there. Here are some details that one might find helpful if one were to consider a similar path. I have often thought of taking this project "semi-private" in the form of a club but its working so well now that I'm not sure I want to change anything.
Costs and Liability:
1. Minimum cost for liability coverage is 10k per year. This will provide adequate coverage for aircraft in your care (up to a point - not adequate for turboprops and jets however) Here is a copy of the quote: 23-24 WBA Renewal Quote.pdf
2. Good Labor is HARD TO FIND. Be prepared to get creative with time off, work hours, whatever it takes to entice the person to consider accepting. The labor cost should equate to about 30-35% of the hourly labor rate.
3. The endeavor should exist in a separate LLC.
Time Investment:
I devote about 5-10 hours a week managing this business. I often choose to spend more of my time than that functioning as an apprentice mechanic out of personal interest.
Personal Maintenance Cost Savings:
Labor for my personal aircraft costs me my time only if I do the work and 1/2 of the normal hourly rate if one of the other mechanics gets involved. Parts are about 20% less than you would normally pay through a shop.
Is the business profitable? Surprisingly, yes, albeit with tight margins. It takes vigilance and I would not want to earn a living this way but it certainly sustains itself.
The goals I set out to address have been met. My aircraft are maintained safely. I have (almost) instant access to well vetted maintenance. I am learning more than I ever imagined. My flying friends also enjoy stable, quality maintenance. The shop sustains itself financially. This course of action is a big commitment. If you are reading this and you want more in-depth details (cost of acquisition, etc) feel free to DM me.
Alex