1 01:00:52,849 --> 01:00:53,950 Matt Walter, thank you 2 01:00:53,950 --> 01:00:55,351 for being on the JET. 3 01:00:55,752 --> 01:00:58,154 And Matt is one of the 4 01:00:58,154 --> 01:00:59,655 managing partners of Guardian JET, 5 01:00:59,989 --> 01:01:02,058 one of, if not the largest broker, 6 01:01:02,492 --> 01:01:03,726 of JET aircraft in the 7 01:01:03,726 --> 01:01:04,627 United States, right? 8 01:01:05,028 --> 01:01:06,429 Correct, yeah. Awesome, awesome. 9 01:01:06,429 --> 01:01:07,230 Thank you very much for having me. 10 01:01:07,230 --> 01:01:07,497 Absolutely. 11 01:01:08,164 --> 01:01:09,432 Yeah, can you tell me a 12 01:01:09,432 --> 01:01:11,200 little bit about Guardian JET 13 01:01:11,401 --> 01:01:12,435 and who Guardian JET 14 01:01:12,435 --> 01:01:13,469 is for the uninitiated? 15 01:01:13,936 --> 01:01:15,438 So Guardian JET, full 16 01:01:15,438 --> 01:01:16,939 service consultant and broker. 17 01:01:17,707 --> 01:01:18,708 We do it a little 18 01:01:18,708 --> 01:01:20,777 differently than others in our space 19 01:01:21,010 --> 01:01:21,911 and our competitors. 20 01:01:22,278 --> 01:01:24,514 And we will do a lot of, 21 01:01:24,514 --> 01:01:26,516 we take a consultative sales approach. 22 01:01:26,516 --> 01:01:27,350 We have plenty of people 23 01:01:27,350 --> 01:01:28,451 that cost and just say, 24 01:01:28,451 --> 01:01:29,318 hey, I wanna upgrade my 25 01:01:29,318 --> 01:01:30,486 JET or I wanna buy a JET. 26 01:01:30,920 --> 01:01:31,487 But for the people 27 01:01:31,487 --> 01:01:32,355 that are getting into it 28 01:01:32,355 --> 01:01:33,289 for the first time, 29 01:01:33,823 --> 01:01:37,026 or for fortune companies that 30 01:01:37,026 --> 01:01:39,462 own one or three or five jets, 31 01:01:39,462 --> 01:01:41,497 they come to us for consulting, right? 32 01:01:41,564 --> 01:01:43,733 Fleet planning, when should I own? 33 01:01:43,733 --> 01:01:44,901 At what point should I, 34 01:01:45,868 --> 01:01:47,570 how many hours do I fly? 35 01:01:47,570 --> 01:01:48,638 How many, if I'm flying a 36 01:01:48,638 --> 01:01:50,239 hundred or 150 hours a year, 37 01:01:50,706 --> 01:01:52,408 when does it make sense to make the jump 38 01:01:52,408 --> 01:01:53,209 from charter or 39 01:01:53,209 --> 01:01:54,477 fractional into whole ownership? 40 01:01:55,078 --> 01:01:55,945 On the other side of 41 01:01:55,945 --> 01:01:57,313 it, you have corporations 42 01:01:57,613 --> 01:02:00,583 that have one or three or five jets 43 01:02:00,883 --> 01:02:01,984 and they have a director 44 01:02:01,984 --> 01:02:03,486 of aviation in charge of, 45 01:02:03,486 --> 01:02:05,922 you had run a flight departments before 46 01:02:05,922 --> 01:02:06,656 and you know that 47 01:02:06,656 --> 01:02:08,658 there's a lot to do in that. 48 01:02:08,658 --> 01:02:11,094 You have to operate, you have to worry 49 01:02:11,194 --> 01:02:11,861 about getting your 50 01:02:11,861 --> 01:02:13,629 executives safely across the world. 51 01:02:14,097 --> 01:02:16,232 And that's a full-time job, right? 52 01:02:16,232 --> 01:02:16,666 You have to worry about 53 01:02:16,666 --> 01:02:17,967 operations and managing people 54 01:02:17,967 --> 01:02:18,701 and managing flights. 55 01:02:19,402 --> 01:02:20,203 So we come in there 56 01:02:20,203 --> 01:02:21,070 with the fleet planning 57 01:02:21,337 --> 01:02:22,271 and we help, it's more of 58 01:02:22,271 --> 01:02:23,439 a capital plan and saying, 59 01:02:23,639 --> 01:02:25,441 okay, when is the right 60 01:02:25,441 --> 01:02:26,676 time to trade out your jets? 61 01:02:27,643 --> 01:02:28,411 What does it cost? 62 01:02:28,411 --> 01:02:29,378 You know what it costs to 63 01:02:29,378 --> 01:02:30,513 operate what you're operating? 64 01:02:31,180 --> 01:02:32,081 But what does it cost 65 01:02:32,081 --> 01:02:33,850 to operate the planes 66 01:02:33,850 --> 01:02:35,118 that you don't operate? 67 01:02:35,485 --> 01:02:36,652 What should you operate? 68 01:02:36,652 --> 01:02:37,553 When should you trade? 69 01:02:37,854 --> 01:02:39,355 And so we do those 70 01:02:39,355 --> 01:02:40,990 presentations and those fleet plans. 71 01:02:41,657 --> 01:02:42,391 And so we're helping 72 01:02:42,391 --> 01:02:43,760 directors of aviation 73 01:02:44,494 --> 01:02:48,064 and just manage their 74 01:02:48,064 --> 01:02:49,265 assets like an aviation, 75 01:02:49,832 --> 01:02:50,933 like a stock in a portfolio. 76 01:02:51,768 --> 01:02:53,970 So then do you also come back and say, 77 01:02:54,604 --> 01:02:57,640 you know, the financial structure of it, 78 01:02:58,407 --> 01:02:59,575 is it better to lease? 79 01:02:59,575 --> 01:03:00,610 Is it better to buy? 80 01:03:01,010 --> 01:03:03,813 Should you pay X amount of dollars? 81 01:03:03,813 --> 01:03:04,413 I mean, do you get 82 01:03:04,413 --> 01:03:05,414 involved in any of that? 83 01:03:05,615 --> 01:03:06,282 Yeah, we do, we 84 01:03:06,282 --> 01:03:07,450 measure all of that stuff. 85 01:03:07,450 --> 01:03:08,718 And for us, we're not 86 01:03:08,718 --> 01:03:10,319 always telling someone 87 01:03:10,319 --> 01:03:11,387 what you should do, but 88 01:03:11,387 --> 01:03:12,255 we're presenting options 89 01:03:12,522 --> 01:03:13,556 and showing the costs 90 01:03:13,556 --> 01:03:14,757 and the pros and the cons 91 01:03:14,757 --> 01:03:15,525 of each option. 92 01:03:16,058 --> 01:03:17,927 So we get into cash versus lease versus 93 01:03:17,927 --> 01:03:19,028 finance all the time. 94 01:03:19,629 --> 01:03:20,596 We also get into 95 01:03:20,596 --> 01:03:22,665 charter versus fractional 96 01:03:22,798 --> 01:03:24,667 versus whole ownership all the time. 97 01:03:24,667 --> 01:03:26,369 If you're gonna own a jet, should you 98 01:03:26,369 --> 01:03:27,270 chart it on the side? 99 01:03:27,270 --> 01:03:28,271 What does that look like? 100 01:03:28,838 --> 01:03:29,405 When it comes to the 101 01:03:29,405 --> 01:03:30,706 finance and the cash and leasing, 102 01:03:31,874 --> 01:03:33,576 there's a lot of times with leasing, 103 01:03:33,576 --> 01:03:35,878 there's not an aviation reason to lease. 104 01:03:36,345 --> 01:03:37,446 There might be, you know, 105 01:03:37,446 --> 01:03:38,447 there might be a business reason 106 01:03:38,447 --> 01:03:39,215 to lease a jet. 107 01:03:39,982 --> 01:03:40,850 But when you're looking at 108 01:03:40,850 --> 01:03:42,885 10 year total life cycle costs 109 01:03:43,152 --> 01:03:44,120 or net present value, 110 01:03:44,353 --> 01:03:45,621 leasing typically loses 111 01:03:45,788 --> 01:03:47,256 to finance and cash. 112 01:03:48,090 --> 01:03:49,392 Sounds like cost is a big 113 01:03:49,392 --> 01:03:51,027 factor in all this, right? 114 01:03:51,027 --> 01:03:52,328 Like if you're talking on a corporate 115 01:03:52,328 --> 01:03:54,230 level, business level, 116 01:03:55,398 --> 01:03:57,600 just the ownership cost of a jet, 117 01:03:57,600 --> 01:03:58,668 the operating cost of 118 01:03:58,668 --> 01:03:59,902 a jet seems to be like 119 01:04:00,169 --> 01:04:01,637 one of the major factors. 120 01:04:01,637 --> 01:04:04,173 Is that, when we're talking about this, 121 01:04:04,407 --> 01:04:06,676 that keeps being kind of like, 122 01:04:06,676 --> 01:04:07,777 even when I'm talking to Jason about it, 123 01:04:07,810 --> 01:04:09,779 it's just like, cost, cost, cost. 124 01:04:10,146 --> 01:04:11,347 Are there other factors like, 125 01:04:11,914 --> 01:04:12,715 does somebody just say, 126 01:04:12,949 --> 01:04:13,950 this new jet came out, 127 01:04:13,950 --> 01:04:15,318 it's really cool, can we get one? 128 01:04:15,851 --> 01:04:17,787 We get calls like that, we do, we do. 129 01:04:18,054 --> 01:04:18,754 And then again-- I've 130 01:04:18,754 --> 01:04:20,289 seen like the Bombardier, 131 01:04:20,623 --> 01:04:22,425 what is it, the 8000, it just came out. 132 01:04:22,425 --> 01:04:23,593 Like that thing's bad ass. 133 01:04:23,626 --> 01:04:24,293 It is. Like-- 134 01:04:24,760 --> 01:04:24,961 Fast. 135 01:04:25,094 --> 01:04:26,095 Four cabin zones, one 136 01:04:26,095 --> 01:04:27,196 stop anywhere in the world. 137 01:04:27,630 --> 01:04:28,331 Right. Shower. 138 01:04:28,798 --> 01:04:29,599 Very well, you guys 139 01:04:29,599 --> 01:04:30,600 have an option for that. 140 01:04:30,867 --> 01:04:32,301 Yeah, so do you get that too? 141 01:04:32,635 --> 01:04:34,403 Or is it mostly just like, 142 01:04:34,403 --> 01:04:34,904 hey, what are the 143 01:04:34,904 --> 01:04:36,172 pros and cons cost wise? 144 01:04:36,272 --> 01:04:37,940 We get all of it, right? 145 01:04:37,940 --> 01:04:39,075 So we definitely get those guys. 146 01:04:39,442 --> 01:04:41,310 And honestly, that's where we shine 147 01:04:41,444 --> 01:04:42,278 because we take that 148 01:04:42,278 --> 01:04:43,613 consultative approach. 149 01:04:43,846 --> 01:04:46,215 So we are talking to those guys 150 01:04:46,215 --> 01:04:47,617 and we're coaching them through it. 151 01:04:47,617 --> 01:04:48,851 And we once had a guy say, 152 01:04:48,851 --> 01:04:50,319 "I gotta do a case study on you guys. 153 01:04:50,319 --> 01:04:52,188 You guys have helped me, you haven't 154 01:04:52,188 --> 01:04:53,022 asked me for a penny." 155 01:04:53,256 --> 01:04:53,990 We're not gonna put a 156 01:04:53,990 --> 01:04:55,157 proposal in front of somebody 157 01:04:55,391 --> 01:04:56,993 until they're ready. 158 01:04:56,993 --> 01:04:58,227 Because they have so many questions 159 01:04:58,227 --> 01:04:59,462 and they don't know what they don't know. 160 01:04:59,896 --> 01:05:01,430 And our industry is just so vast 161 01:05:01,430 --> 01:05:02,798 and it can be opaque at times. 162 01:05:03,032 --> 01:05:04,333 And so we do get those calls. 163 01:05:04,800 --> 01:05:05,835 And we love those calls. 164 01:05:05,868 --> 01:05:07,036 Because then we can educate them. 165 01:05:07,303 --> 01:05:08,938 And here I am, I've been 166 01:05:08,938 --> 01:05:09,939 doing this for 13 years 167 01:05:09,939 --> 01:05:11,607 and I've gotten pretty good at it. 168 01:05:11,607 --> 01:05:12,475 And my company is, 169 01:05:13,509 --> 01:05:14,176 we're just the greatest. 170 01:05:14,176 --> 01:05:14,877 We just have so much 171 01:05:14,877 --> 01:05:16,245 data and so many analytics. 172 01:05:16,913 --> 01:05:18,180 And so we just wanted to 173 01:05:18,180 --> 01:05:19,282 share that with everybody. 174 01:05:19,582 --> 01:05:22,051 And I think guys really appreciate 175 01:05:22,051 --> 01:05:23,252 our sort of open and 176 01:05:23,252 --> 01:05:24,253 transparent approach. 177 01:05:24,253 --> 01:05:25,488 We're very liberal with our data. 178 01:05:25,488 --> 01:05:27,156 We wanna just educate the 179 01:05:27,156 --> 01:05:28,391 smartest people in the world. 180 01:05:28,724 --> 01:05:30,526 And I get to educate them on something 181 01:05:30,526 --> 01:05:31,594 that I'm an expert in. 182 01:05:31,594 --> 01:05:34,397 So it really, yes, we get those calls 183 01:05:34,597 --> 01:05:36,332 and we're able to drop some knowledge 184 01:05:36,332 --> 01:05:38,501 on someone who's obviously brilliant 185 01:05:38,501 --> 01:05:39,969 in another aspect of his life. 186 01:05:39,969 --> 01:05:41,070 But he doesn't know aviation. 187 01:05:41,370 --> 01:05:42,338 And so he comes in and says, 188 01:05:42,705 --> 01:05:43,973 "I wanna buy a Global 8,000." 189 01:05:43,973 --> 01:05:44,607 "Well, but you're only 190 01:05:44,607 --> 01:05:45,574 going New York to Florida. 191 01:05:45,574 --> 01:05:47,209 Maybe you don't need the Global 8,000." 192 01:05:47,209 --> 01:05:48,210 And we go buy a Global 8,000. 193 01:05:48,210 --> 01:05:48,444 Yes, I do. 194 01:05:48,611 --> 01:05:49,111 Yes, I do. 195 01:05:49,512 --> 01:05:49,712 Right. 196 01:05:50,413 --> 01:05:53,716 So with that said, it seems like 197 01:05:54,483 --> 01:05:56,319 there's a broad range of brokers, right? 198 01:05:56,886 --> 01:05:58,120 So how do you narrow it 199 01:05:58,120 --> 01:06:00,222 down to who's the right broker? 200 01:06:01,057 --> 01:06:03,693 And what broker's gonna 201 01:06:03,693 --> 01:06:04,694 give me the most value? 202 01:06:05,728 --> 01:06:07,163 Right broker's always guardian jet. 203 01:06:07,163 --> 01:06:08,497 That's what I say sometimes. 204 01:06:09,131 --> 01:06:09,732 That's what I say. 205 01:06:10,166 --> 01:06:10,800 There's a lot of really 206 01:06:10,800 --> 01:06:12,168 good brokers out there. 207 01:06:12,168 --> 01:06:12,768 There's a lot of people 208 01:06:12,768 --> 01:06:14,704 that do it the right way. 209 01:06:14,704 --> 01:06:16,372 What's worked for us, again, 210 01:06:16,372 --> 01:06:17,673 is we take a little different approach 211 01:06:17,673 --> 01:06:18,908 with all the consulting, 212 01:06:18,908 --> 01:06:20,209 which leads to the brokerage 213 01:06:20,209 --> 01:06:21,077 and the buying and selling. 214 01:06:21,877 --> 01:06:25,281 We've sort of centralized our approach 215 01:06:25,514 --> 01:06:26,716 where we have a lot of 216 01:06:26,716 --> 01:06:27,817 sales guys in the field. 217 01:06:28,050 --> 01:06:28,818 We have pretty much 218 01:06:28,818 --> 01:06:30,219 all of the United States 219 01:06:30,419 --> 01:06:31,654 covered, we have, I think, 220 01:06:31,654 --> 01:06:34,023 18 regional sales directors now, 221 01:06:34,023 --> 01:06:35,624 and that's all in the US. 222 01:06:35,925 --> 01:06:37,560 We have Western Europe, South Africa, 223 01:06:38,361 --> 01:06:39,695 two in Brazil, two in Mexico. 224 01:06:40,129 --> 01:06:41,998 Brazil and Mexico have been huge for us. 225 01:06:42,932 --> 01:06:45,968 So you want a broker that has subject 226 01:06:45,968 --> 01:06:47,370 matter expert, right? 227 01:06:47,370 --> 01:06:49,071 They understand the cost. 228 01:06:49,071 --> 01:06:51,007 They need to understand your mission. 229 01:06:51,007 --> 01:06:51,941 The main thing for me, 230 01:06:51,941 --> 01:06:53,275 though, it comes down to trust. 231 01:06:53,542 --> 01:06:55,311 You have to trust your broker. 232 01:06:55,878 --> 01:06:59,882 You're entrusting him with a lot of 233 01:06:59,882 --> 01:07:01,751 expensive decisions, 234 01:07:02,251 --> 01:07:03,352 which airplanes to get, 235 01:07:03,352 --> 01:07:03,986 because the devil's in the 236 01:07:03,986 --> 01:07:04,987 details on these airplanes. 237 01:07:05,554 --> 01:07:07,189 So in a buy situation, 238 01:07:07,390 --> 01:07:08,057 and you're buying a 239 01:07:08,057 --> 01:07:09,091 pre-owned jet, for instance, 240 01:07:09,425 --> 01:07:10,226 and you need to 241 01:07:10,226 --> 01:07:11,027 understand that maintenance. 242 01:07:11,394 --> 01:07:12,728 And you really have to understand 243 01:07:12,728 --> 01:07:15,097 on a 10, 15, 20-year-old machine, 244 01:07:15,097 --> 01:07:15,798 maybe that's two or 245 01:07:15,798 --> 01:07:17,199 four or 8,000 hours on it, 246 01:07:17,600 --> 01:07:19,235 you got to know what you're doing. 247 01:07:19,468 --> 01:07:21,370 So how do you find the right broker? 248 01:07:21,404 --> 01:07:25,808 Well, again, it's just who's available. 249 01:07:26,475 --> 01:07:28,177 We pride ourselves on being super 250 01:07:28,177 --> 01:07:29,311 responsive all the time. 251 01:07:29,311 --> 01:07:30,046 We pride ourselves on 252 01:07:30,046 --> 01:07:31,047 going above and beyond. 253 01:07:31,047 --> 01:07:32,048 If somebody asks for one 254 01:07:32,048 --> 01:07:33,315 thing, we send them five things. 255 01:07:34,717 --> 01:07:35,985 I think they need to know, 256 01:07:36,218 --> 01:07:37,520 again, you got to trust them. 257 01:07:38,054 --> 01:07:39,955 They need to know their product, 258 01:07:39,955 --> 01:07:41,524 and they need to know the industry. 259 01:07:41,524 --> 01:07:42,258 They need to be connected. 260 01:07:42,591 --> 01:07:44,260 So I think there's a number 261 01:07:44,260 --> 01:07:45,327 of great brokers out there. 262 01:07:45,528 --> 01:07:47,163 I made a joke last night to you guys 263 01:07:47,329 --> 01:07:49,098 that it's an unregulated industry. 264 01:07:49,365 --> 01:07:49,765 Well, that was gonna 265 01:07:49,765 --> 01:07:50,633 be an expression, right? 266 01:07:50,666 --> 01:07:53,068 If I wanted to buy a jet or 267 01:07:53,068 --> 01:07:54,236 if I wanted to sell a jet, 268 01:07:55,070 --> 01:07:59,575 I would assume that there's all kinds of, 269 01:07:59,575 --> 01:08:00,643 because these are like 270 01:08:00,643 --> 01:08:02,511 complex flying machines 271 01:08:02,511 --> 01:08:03,646 going over people's heads. 272 01:08:04,413 --> 01:08:05,214 There's probably gonna 273 01:08:05,214 --> 01:08:06,315 be a lot of regulations 274 01:08:06,449 --> 01:08:07,416 around who can be 275 01:08:07,416 --> 01:08:09,418 involved in that transaction. 276 01:08:10,152 --> 01:08:11,520 Who can be involved? 277 01:08:11,520 --> 01:08:12,388 There's got to be tons 278 01:08:12,388 --> 01:08:13,456 of regulations, right? 279 01:08:13,889 --> 01:08:14,490 And then I learned from 280 01:08:14,490 --> 01:08:15,925 you, that's not the case? 281 01:08:16,225 --> 01:08:17,326 So lots of regulations 282 01:08:17,326 --> 01:08:18,527 in the flying of them 283 01:08:18,527 --> 01:08:20,329 and the operating of the actual jet, 284 01:08:20,362 --> 01:08:21,931 but in the trading of these assets, 285 01:08:21,931 --> 01:08:22,898 there's no regulations. 286 01:08:23,132 --> 01:08:24,600 That's so insane. 287 01:08:24,900 --> 01:08:25,434 The barber down the 288 01:08:25,434 --> 01:08:26,268 street. That just blows my mind. 289 01:08:26,836 --> 01:08:27,369 You could print the 290 01:08:27,369 --> 01:08:28,137 business card tomorrow 291 01:08:28,137 --> 01:08:28,838 and call yourself a jet broker. 292 01:08:28,838 --> 01:08:31,340 So I get in trouble if I try to cut hair, 293 01:08:31,807 --> 01:08:32,575 but I can sell a jet. 294 01:08:32,575 --> 01:08:33,309 But you can sell a jet 295 01:08:33,309 --> 01:08:34,109 to anybody. Yes. 296 01:08:34,343 --> 01:08:35,744 Dude. Your barber down the street 297 01:08:35,744 --> 01:08:37,813 has to pass more tests to cut your hair 298 01:08:38,047 --> 01:08:39,248 than you do to become a jet broker, 299 01:08:39,715 --> 01:08:40,015 managing 300 01:08:40,015 --> 01:08:41,417 multi-million dollar transactions. 301 01:08:41,717 --> 01:08:43,686 So it's important that you know who 302 01:08:43,686 --> 01:08:44,386 you're doing business with 303 01:08:44,386 --> 01:08:44,954 and there's a lot of 304 01:08:44,954 --> 01:08:45,754 great guys out there. 305 01:08:46,288 --> 01:08:47,389 We will, at Guardian Jet, 306 01:08:47,389 --> 01:08:48,390 be the center of it all. 307 01:08:48,390 --> 01:08:49,291 We'll quarterback it all, 308 01:08:49,325 --> 01:08:50,259 but you're gonna need 309 01:08:50,259 --> 01:08:51,393 an aviation attorney 310 01:08:51,827 --> 01:08:53,562 who will work with your in-house attorney 311 01:08:53,562 --> 01:08:55,097 and Guardian Jet's in-house counsel, 312 01:08:55,097 --> 01:08:55,831 but you're gonna want a 313 01:08:55,831 --> 01:08:57,433 subject matter expert. 314 01:08:57,433 --> 01:08:58,601 We have a lot of people that say, 315 01:08:58,601 --> 01:08:59,535 well, I got my 316 01:08:59,535 --> 01:09:00,970 in-house counsel, he can help. 317 01:09:01,370 --> 01:09:02,671 Aviation is so unique 318 01:09:03,205 --> 01:09:03,906 that you really need a 319 01:09:03,906 --> 01:09:04,840 subject matter expert. 320 01:09:05,374 --> 01:09:06,876 You may need a financier, 321 01:09:06,876 --> 01:09:07,810 maybe you're paying cash, 322 01:09:07,810 --> 01:09:08,577 maybe not, but we talked 323 01:09:08,577 --> 01:09:10,379 about lease or getting a loan, 324 01:09:10,379 --> 01:09:10,913 so you're gonna wanna 325 01:09:10,913 --> 01:09:11,914 talk to a couple of banks. 326 01:09:12,515 --> 01:09:14,216 There's banks, there's niche banks, 327 01:09:14,216 --> 01:09:14,683 there's the big 328 01:09:14,683 --> 01:09:16,085 banks, there's small banks, 329 01:09:16,652 --> 01:09:17,153 you might have a 330 01:09:17,153 --> 01:09:18,387 relationship with the bank 331 01:09:19,121 --> 01:09:19,989 that's getting an aviation. 332 01:09:21,790 --> 01:09:23,692 Talked about management companies. 333 01:09:24,093 --> 01:09:25,427 You need someone to operate it 334 01:09:25,995 --> 01:09:26,529 and there's a lot of 335 01:09:26,529 --> 01:09:27,596 great management companies 336 01:09:27,596 --> 01:09:28,631 out there, big or small. 337 01:09:30,199 --> 01:09:30,866 Someone's gonna manage 338 01:09:30,866 --> 01:09:32,234 your actual flight operation, 339 01:09:32,535 --> 01:09:33,936 schedule flights, schedule maintenance, 340 01:09:34,303 --> 01:09:35,871 handle car service, handle catering, 341 01:09:36,071 --> 01:09:37,873 just make one phone call 342 01:09:38,207 --> 01:09:39,275 and they handle your entire 343 01:09:39,275 --> 01:09:41,343 aviation operation, right? 344 01:09:41,343 --> 01:09:43,179 And so at Guardian Jet, we try to, again, 345 01:09:43,546 --> 01:09:44,813 we don't say, hey, go talk to this guy, 346 01:09:44,813 --> 01:09:45,848 we wanna be involved. 347 01:09:46,348 --> 01:09:47,783 So I'm feeling overwhelmed now. 348 01:09:47,816 --> 01:09:48,250 You're mentioning all 349 01:09:48,250 --> 01:09:49,218 these people, right? 350 01:09:49,218 --> 01:09:50,819 I'm thinking about owning a jet, 351 01:09:50,819 --> 01:09:51,253 I'm thinking about 352 01:09:51,253 --> 01:09:52,988 looking into that global 8,000 353 01:09:52,988 --> 01:09:54,190 that I have my eye on, right? 354 01:09:54,590 --> 01:09:55,958 And I'm like, I don't 355 01:09:55,958 --> 01:09:58,894 know an aviation attorney. 356 01:09:59,128 --> 01:10:01,197 I don't know a financier 357 01:10:01,197 --> 01:10:02,831 that is going to help me 358 01:10:02,831 --> 01:10:04,166 with aviation, so. 359 01:10:04,199 --> 01:10:05,201 So the broker is gonna 360 01:10:05,201 --> 01:10:06,268 be the one facilitating 361 01:10:07,036 --> 01:10:07,770 all of that, right? 362 01:10:08,037 --> 01:10:08,571 How do I know that? 363 01:10:08,571 --> 01:10:09,438 A guy's not trying to screw me, 364 01:10:09,438 --> 01:10:11,373 it's an unregulated industry, right? 365 01:10:11,373 --> 01:10:12,908 So how do you vet these people? 366 01:10:12,908 --> 01:10:14,143 How do you know that that 367 01:10:14,143 --> 01:10:14,977 broker is a good broker? 368 01:10:15,344 --> 01:10:17,346 And that's, and honestly, for us, 369 01:10:17,513 --> 01:10:18,514 I think a little easier 370 01:10:18,514 --> 01:10:19,982 because we've been around now 371 01:10:19,982 --> 01:10:20,916 since 2002. 372 01:10:21,717 --> 01:10:22,751 We're up now over, we 373 01:10:22,751 --> 01:10:24,186 just keep growing each year, 374 01:10:24,186 --> 01:10:25,955 but we're now gonna probably do 150 375 01:10:25,955 --> 01:10:27,356 transactions this year. 376 01:10:27,356 --> 01:10:28,224 So for us, we've just 377 01:10:28,224 --> 01:10:30,192 built this amazing team 378 01:10:30,492 --> 01:10:31,694 and we always invite people, come to 379 01:10:31,694 --> 01:10:32,328 Guilford, Connecticut, 380 01:10:32,328 --> 01:10:33,162 come see the team, come 381 01:10:33,162 --> 01:10:33,996 see the trading floor. 382 01:10:34,296 --> 01:10:34,997 Look at all of our 383 01:10:34,997 --> 01:10:36,732 data, we have more data 384 01:10:36,732 --> 01:10:37,833 than anyone else in the industry. 385 01:10:38,267 --> 01:10:40,436 So for us, I think 386 01:10:40,436 --> 01:10:41,403 it's a little bit easier 387 01:10:41,804 --> 01:10:43,372 because we've been around for a long time 388 01:10:43,372 --> 01:10:44,607 and we've grown and we've grown 389 01:10:44,607 --> 01:10:45,874 and we have a lot of good relationships. 390 01:10:45,874 --> 01:10:47,676 We do 40% of the Fortune 100 companies. 391 01:10:48,277 --> 01:10:48,978 Now they're half of our business 392 01:10:48,978 --> 01:10:49,511 is high net worth 393 01:10:49,511 --> 01:10:51,113 individuals and private companies. 394 01:10:51,113 --> 01:10:51,814 And we've just always 395 01:10:51,814 --> 01:10:52,881 tried to do the right thing. 396 01:10:53,616 --> 01:10:54,450 And so when someone 397 01:10:54,450 --> 01:10:55,751 brings me in as a referral, 398 01:10:55,751 --> 01:10:58,087 because a lot of big lead 399 01:10:58,087 --> 01:10:59,088 generation source for us 400 01:10:59,088 --> 01:11:00,656 is getting referred into places, right? 401 01:11:00,656 --> 01:11:01,156 You're not cold 402 01:11:01,156 --> 01:11:02,825 calling anymore, it's harder. 403 01:11:03,459 --> 01:11:04,860 I sort of did it the old fashioned way 404 01:11:04,860 --> 01:11:06,962 when I first started in 13 years ago. 405 01:11:06,962 --> 01:11:07,830 I was going around and 406 01:11:07,830 --> 01:11:08,797 knocking on hanger doors 407 01:11:08,797 --> 01:11:09,665 and putting pamphlets 408 01:11:09,665 --> 01:11:10,366 under people's doors 409 01:11:10,366 --> 01:11:11,166 if they weren't there. 410 01:11:11,166 --> 01:11:12,167 And I'd take any meeting 411 01:11:12,167 --> 01:11:13,335 to get inside the place 412 01:11:13,335 --> 01:11:14,436 and then I'd try to go from there. 413 01:11:14,937 --> 01:11:16,105 It's harder to do that now. 414 01:11:16,338 --> 01:11:17,239 It's harder to do that now. 415 01:11:17,473 --> 01:11:18,374 So for us, if we get 416 01:11:18,374 --> 01:11:19,208 referred into someone, 417 01:11:19,475 --> 01:11:20,209 we just want, we want to 418 01:11:20,209 --> 01:11:21,210 do a good job for everyone. 419 01:11:21,910 --> 01:11:23,078 Especially get referred into someone 420 01:11:23,078 --> 01:11:25,447 because now, hey, your client tells you, 421 01:11:25,447 --> 01:11:28,417 you brought me into a deal to service him 422 01:11:28,417 --> 01:11:29,551 and he tells you how great I did. 423 01:11:29,551 --> 01:11:30,619 I want you to tell your friends, 424 01:11:30,619 --> 01:11:32,054 I want you to bring me into more deals. 425 01:11:32,054 --> 01:11:32,888 And so we always just 426 01:11:32,888 --> 01:11:33,789 try to do the right thing. 427 01:11:34,289 --> 01:11:36,425 And for me, I learned a long time ago 428 01:11:36,792 --> 01:11:38,227 to be customer focused, 429 01:11:38,460 --> 01:11:39,728 not transaction focused. 430 01:11:40,329 --> 01:11:41,697 When you're customer focused 431 01:11:41,897 --> 01:11:43,399 and you have to have a long term vision 432 01:11:43,932 --> 01:11:45,634 and it's not about what's 433 01:11:45,634 --> 01:11:46,935 good this month or this week 434 01:11:46,935 --> 01:11:47,870 or this year because 435 01:11:47,870 --> 01:11:49,338 these guys have friends, 436 01:11:50,239 --> 01:11:51,006 they're going to come back. 437 01:11:51,407 --> 01:11:52,374 They might start with a 438 01:11:52,374 --> 01:11:53,676 citation or a challenger 439 01:11:54,209 --> 01:11:56,211 or a mid-size and then 440 01:11:56,211 --> 01:11:57,546 three or five or seven years. 441 01:11:57,546 --> 01:11:58,147 And it's always quicker 442 01:11:58,147 --> 01:12:00,115 than they think coming back. 443 01:12:00,449 --> 01:12:01,150 That's got to be hard though, 444 01:12:01,150 --> 01:12:02,718 as a sales organization, right? 445 01:12:02,718 --> 01:12:04,019 Because it's like, I've been in sales. 446 01:12:04,253 --> 01:12:07,056 I know what it's like to have sales goals 447 01:12:07,056 --> 01:12:09,258 and sales numbers you got to hit, right? 448 01:12:09,892 --> 01:12:12,494 And for you to have 449 01:12:12,494 --> 01:12:13,495 that longer term vision, 450 01:12:13,595 --> 01:12:14,897 it's kind of unusual 451 01:12:14,897 --> 01:12:16,398 in a sales environment 452 01:12:16,598 --> 01:12:18,333 because so many people in sales 453 01:12:18,333 --> 01:12:19,368 environments are just like, 454 01:12:19,368 --> 01:12:21,837 no, we have to do whatever it takes 455 01:12:22,237 --> 01:12:24,340 to hit these numbers or else. 456 01:12:24,940 --> 01:12:25,841 Yeah, but that's a 457 01:12:25,841 --> 01:12:28,077 problem in this market, right? 458 01:12:28,077 --> 01:12:31,046 In this world, because say we go out 459 01:12:31,046 --> 01:12:32,915 and vet a Gulfstream for somebody 460 01:12:33,549 --> 01:12:35,317 and we take it through 461 01:12:35,317 --> 01:12:36,218 the maintenance process 462 01:12:36,618 --> 01:12:37,786 and we find out in the maintenance 463 01:12:37,786 --> 01:12:39,054 process, there's an issue. 464 01:12:39,054 --> 01:12:40,389 There's a problem with this airplane. 465 01:12:40,422 --> 01:12:40,689 Okay. 466 01:12:41,223 --> 01:12:42,791 So now it's a choice, right? 467 01:12:42,891 --> 01:12:45,360 We need to either fix it and move forward 468 01:12:46,028 --> 01:12:48,430 or do we not say anything, right? 469 01:12:48,797 --> 01:12:50,766 So, and I think you'll find on the lower 470 01:12:50,766 --> 01:12:51,533 end of the spectrum, 471 01:12:51,533 --> 01:12:52,434 you'll find that brokers 472 01:12:52,434 --> 01:12:53,669 aren't gonna say anything. 473 01:12:53,669 --> 01:12:54,369 No, just gonna push it 474 01:12:54,369 --> 01:12:56,638 through because it's a paycheck. 475 01:12:57,373 --> 01:12:59,141 So they wanna get it out 476 01:12:59,141 --> 01:13:00,609 the door as quick as they can. 477 01:13:01,176 --> 01:13:02,778 Whereas you look at, you know, Guardian 478 01:13:02,778 --> 01:13:05,514 and some of the other big, you know, 479 01:13:05,814 --> 01:13:06,615 established brokerages 480 01:13:06,615 --> 01:13:08,150 and us included, right? 481 01:13:08,617 --> 01:13:10,953 We wanna make sure that, you know, 482 01:13:10,953 --> 01:13:12,154 we push out a quality product 483 01:13:12,387 --> 01:13:12,955 because we don't want 484 01:13:12,955 --> 01:13:13,322 that person to get it. 485 01:13:13,355 --> 01:13:14,990 Give me some green flags and red flags. 486 01:13:14,990 --> 01:13:16,558 What do I need to be looking for? 487 01:13:16,792 --> 01:13:19,862 If I'm looking at, well, you know, 488 01:13:19,862 --> 01:13:20,963 I'm thinking about owning a jet 489 01:13:20,963 --> 01:13:21,997 and like maybe somebody 490 01:13:21,997 --> 01:13:22,931 introduces me to somebody 491 01:13:22,931 --> 01:13:23,766 that's like, yeah, this guy 492 01:13:23,766 --> 01:13:24,600 will sell you a jet, right? 493 01:13:25,200 --> 01:13:27,736 What do I, how do I vet that person? 494 01:13:27,736 --> 01:13:28,070 How do I interview that person? 495 01:13:28,103 --> 01:13:29,238 Well, it's funny because you say, 496 01:13:30,139 --> 01:13:31,774 this guy will sell you a jet, right? 497 01:13:31,774 --> 01:13:32,474 And a lot of people, 498 01:13:32,908 --> 01:13:34,243 I think the changing, 499 01:13:34,243 --> 01:13:35,244 the thinking is changing. 500 01:13:35,244 --> 01:13:36,979 A lot of people think, I need a jet. 501 01:13:36,979 --> 01:13:38,413 I'm gonna call you sell me something. 502 01:13:38,413 --> 01:13:39,515 And we took this approach. 503 01:13:39,782 --> 01:13:41,517 50% of our business is acquisitions. 504 01:13:42,718 --> 01:13:45,154 Half of that is new and used, right? 505 01:13:45,154 --> 01:13:46,355 So we buy half of our 506 01:13:46,355 --> 01:13:47,589 acquisition is new and half is used. 507 01:13:48,123 --> 01:13:49,391 But we're not trying to sell you 508 01:13:49,391 --> 01:13:50,225 something from our inventory. 509 01:13:50,926 --> 01:13:51,560 We're gonna go out, 510 01:13:51,560 --> 01:13:52,528 we want you to hire us 511 01:13:52,528 --> 01:13:53,829 as an acquisition agent to 512 01:13:53,829 --> 01:13:54,963 go out and blanket the market. 513 01:13:54,963 --> 01:13:55,597 Now I have your best 514 01:13:55,597 --> 01:13:56,932 interest at heart, right? 515 01:13:56,932 --> 01:13:57,900 Now I'm going to look 516 01:13:57,900 --> 01:13:58,901 at the entire market 517 01:13:58,901 --> 01:14:00,536 and I'm gonna take 30 518 01:14:00,536 --> 01:14:01,937 airplanes for sale in this model, 519 01:14:02,137 --> 01:14:03,972 20 here, 15 here, 35 here, 520 01:14:03,972 --> 01:14:04,940 and I'm gonna distill it down 521 01:14:04,940 --> 01:14:05,808 based on a lot of 522 01:14:05,808 --> 01:14:07,443 discovery early on in the process 523 01:14:07,810 --> 01:14:09,178 because I wanna understand your mission. 524 01:14:09,945 --> 01:14:10,746 I want you to 525 01:14:10,746 --> 01:14:11,713 understand your own mission. 526 01:14:12,247 --> 01:14:13,816 I want you to understand the costs 527 01:14:14,116 --> 01:14:15,751 because there's a lot of costs that 528 01:14:15,751 --> 01:14:17,352 people don't know about 529 01:14:17,352 --> 01:14:17,853 and not everyone's 530 01:14:17,853 --> 01:14:18,887 always so upfront about that. 531 01:14:19,855 --> 01:14:21,023 But as an acquisition agent, 532 01:14:21,023 --> 01:14:22,658 now we have your best interest at heart. 533 01:14:22,858 --> 01:14:23,826 Let us bring you a list 534 01:14:23,826 --> 01:14:25,427 of, a short list of finalists 535 01:14:25,427 --> 01:14:26,995 that we can go deep on together. 536 01:14:27,596 --> 01:14:29,465 But now I represent you and 537 01:14:29,465 --> 01:14:30,866 I can get you the best price 538 01:14:30,866 --> 01:14:31,733 in the market versus 539 01:14:31,733 --> 01:14:33,068 I'm selling you something. 540 01:14:33,602 --> 01:14:35,070 I'll go get paid by the seller. 541 01:14:35,070 --> 01:14:35,704 Well now I don't have your 542 01:14:35,704 --> 01:14:37,039 best interest at heart, right? 543 01:14:37,072 --> 01:14:40,075 So now I want to just go find an airplane 544 01:14:40,075 --> 01:14:41,043 where I can get paid versus 545 01:14:41,043 --> 01:14:42,277 finding you the best airplane 546 01:14:42,277 --> 01:14:43,011 and then working on your 547 01:14:43,011 --> 01:14:44,213 behalf to cut the price down 548 01:14:44,213 --> 01:14:45,414 and save here and save there. 549 01:14:47,082 --> 01:14:47,449 So for me, it's not, hey, sell me a jet. 550 01:14:47,449 --> 01:14:49,751 So for me, it's not, hey, sell me a jet. 551 01:14:50,285 --> 01:14:52,221 I think the thinking's changing, right? 552 01:14:52,221 --> 01:14:53,188 Is hey, I wanna hire you 553 01:14:53,188 --> 01:14:54,289 to buy me a jet, right? 554 01:14:54,289 --> 01:14:55,290 And so now that's the 555 01:14:55,290 --> 01:14:56,658 better way to think about it. 556 01:14:57,025 --> 01:14:57,493 But again, you gotta 557 01:14:57,493 --> 01:14:58,293 understand the mission, 558 01:14:58,894 --> 01:14:59,695 understand the costs. 559 01:15:00,329 --> 01:15:01,597 Yeah, so I'm also coming 560 01:15:01,597 --> 01:15:02,731 back, like how do I know? 561 01:15:02,931 --> 01:15:04,633 Even if I'm in a conversation with, 562 01:15:05,033 --> 01:15:06,168 I mean, Guardian Jet's got 563 01:15:06,168 --> 01:15:07,135 a great reputation, right? 564 01:15:07,135 --> 01:15:08,871 So it's like, that's an easy one. 565 01:15:08,871 --> 01:15:09,938 But if I'm talking to 566 01:15:09,938 --> 01:15:11,373 maybe a smaller broker 567 01:15:11,740 --> 01:15:12,374 or somebody that 568 01:15:12,374 --> 01:15:13,942 doesn't have that reputation, 569 01:15:14,977 --> 01:15:15,511 how do I know? 570 01:15:15,777 --> 01:15:17,512 I think kind of like what you said, 571 01:15:17,746 --> 01:15:20,015 just to paraphrase it and bring it back. 572 01:15:20,816 --> 01:15:21,850 The first question is gonna 573 01:15:21,850 --> 01:15:23,585 be, what are you looking to do? 574 01:15:24,052 --> 01:15:25,254 It's not gonna be, hey, 575 01:15:25,254 --> 01:15:26,188 let's go look at this. 576 01:15:27,222 --> 01:15:28,490 So it's just how they approach it? 577 01:15:28,490 --> 01:15:29,458 It's how they approach it? 578 01:15:29,958 --> 01:15:31,326 Not transactionally, but-- 579 01:15:31,426 --> 01:15:31,727 Exactly. 580 01:15:32,528 --> 01:15:33,495 Not trying to take you 581 01:15:33,495 --> 01:15:34,329 right to the biggest thing 582 01:15:34,496 --> 01:15:35,130 that's gonna get you right out of the gate. 583 01:15:36,064 --> 01:15:37,566 And here's what it's gonna cost you 584 01:15:37,566 --> 01:15:39,668 and making sure that you're fully aware 585 01:15:40,502 --> 01:15:41,670 of all the bills that are 586 01:15:41,670 --> 01:15:42,771 gonna come in on this airplane. 587 01:15:43,238 --> 01:15:46,475 Because again, people like us, 588 01:15:46,675 --> 01:15:47,910 we wanna see recurring 589 01:15:47,910 --> 01:15:49,311 customers keep coming back. 590 01:15:49,811 --> 01:15:51,246 So if we take them down a road 591 01:15:51,346 --> 01:15:53,815 where we show them data that's not right 592 01:15:54,016 --> 01:15:55,717 and it's skewed, 593 01:15:56,418 --> 01:15:57,786 then we're not gonna see 594 01:15:57,786 --> 01:15:58,954 that customer again, right? 595 01:15:59,087 --> 01:15:59,254 Yeah. 596 01:15:59,254 --> 01:15:59,855 Because they're gonna end 597 01:15:59,855 --> 01:16:00,656 up getting into something 598 01:16:01,156 --> 01:16:01,757 they can't afford, 599 01:16:02,257 --> 01:16:04,826 and it's gonna be that broker's fault. 600 01:16:05,360 --> 01:16:06,028 So do people 601 01:16:06,028 --> 01:16:07,296 typically know what they want 602 01:16:07,296 --> 01:16:08,430 when they start the conversation? 603 01:16:09,097 --> 01:16:09,598 Think they do. 604 01:16:09,798 --> 01:16:10,766 Not always. 605 01:16:11,533 --> 01:16:13,802 Sometimes you say, I want this airplane. 606 01:16:14,136 --> 01:16:14,836 And then sometimes you 607 01:16:14,836 --> 01:16:15,837 get somebody that says, 608 01:16:15,837 --> 01:16:16,638 I have this amount of 609 01:16:16,638 --> 01:16:18,407 money, what can that buy me? 610 01:16:18,407 --> 01:16:19,708 And you still have to, I used to say, 611 01:16:19,908 --> 01:16:21,276 I can tell you what you need 612 01:16:21,276 --> 01:16:22,544 with three questions, right? 613 01:16:22,611 --> 01:16:23,412 How far are you going? 614 01:16:23,946 --> 01:16:25,447 How much money do you have to spend? 615 01:16:25,447 --> 01:16:26,715 And then most importantly, 616 01:16:26,915 --> 01:16:28,717 how much money do you have annually 617 01:16:28,817 --> 01:16:30,519 to pay for the operating costs? 618 01:16:31,286 --> 01:16:32,554 And how many people you travel with. 619 01:16:32,654 --> 01:16:32,888 Okay. 620 01:16:32,921 --> 01:16:34,790 And that alone can, you know, 621 01:16:34,790 --> 01:16:36,825 it's funny because it's not like cars 622 01:16:36,992 --> 01:16:39,361 where there's 300 623 01:16:39,361 --> 01:16:41,697 available at any given time, right? 624 01:16:42,130 --> 01:16:43,532 It's a finite amount of models 625 01:16:43,532 --> 01:16:44,766 and then within those models, 626 01:16:44,766 --> 01:16:45,634 there's a finite amount 627 01:16:45,634 --> 01:16:46,868 of good airplanes for sale. 628 01:16:47,536 --> 01:16:49,438 There's only so many to choose from, 629 01:16:49,871 --> 01:16:50,872 but people come into this 630 01:16:50,872 --> 01:16:52,274 all the time not knowing. 631 01:16:52,274 --> 01:16:53,375 Or maybe they heard something, 632 01:16:53,642 --> 01:16:55,277 hey, I really heard about this G280, 633 01:16:55,277 --> 01:16:56,178 I wanna, or the 634 01:16:56,178 --> 01:16:57,713 Challenger 300, tell me about that. 635 01:16:57,713 --> 01:16:58,747 And then we just talked to them 636 01:16:58,747 --> 01:17:00,282 about the pros and cons of each, right? 637 01:17:00,682 --> 01:17:01,350 Do you find yourself 638 01:17:01,350 --> 01:17:02,250 having to talk people down 639 01:17:02,250 --> 01:17:04,419 out of like, like things 640 01:17:04,419 --> 01:17:05,087 that might not be appropriate? 641 01:17:05,354 --> 01:17:06,888 Like they want the Escalade, 642 01:17:06,888 --> 01:17:08,557 but they really need a caravan, you know? 643 01:17:09,257 --> 01:17:11,026 Just literally two years ago, 644 01:17:11,026 --> 01:17:12,627 two years ago we talked, we were, 645 01:17:12,627 --> 01:17:13,395 a guy came to us and he 646 01:17:13,395 --> 01:17:15,230 wanted to buy a $50 million global. 647 01:17:15,731 --> 01:17:17,199 And we just listened to his mission. 648 01:17:17,199 --> 01:17:19,034 We said, you know, your first time owner, 649 01:17:19,368 --> 01:17:20,369 we like to start, dip 650 01:17:20,369 --> 01:17:21,370 your toe in the water. 651 01:17:21,370 --> 01:17:22,337 Let's go with the Challenger, 652 01:17:22,337 --> 01:17:22,871 let's go to the super 653 01:17:22,871 --> 01:17:24,473 mid-size and see how that works. 654 01:17:24,473 --> 01:17:25,240 And he got the super 655 01:17:25,240 --> 01:17:26,108 mid-size and loves it. 656 01:17:26,341 --> 01:17:27,042 Doesn't go out of the 657 01:17:27,042 --> 01:17:28,310 country, didn't need a global. 658 01:17:28,610 --> 01:17:29,678 So we have talked people down. 659 01:17:30,112 --> 01:17:32,614 Again, against our own self-interest. 660 01:17:33,415 --> 01:17:34,049 You know, best way I 661 01:17:34,049 --> 01:17:35,017 talk about our companies 662 01:17:35,017 --> 01:17:35,817 when I tell stories 663 01:17:35,817 --> 01:17:36,785 about deals that I've done 664 01:17:36,785 --> 01:17:37,285 for people that are not. 665 01:17:37,285 --> 01:17:38,553 Sure, well, no, no. 666 01:17:38,720 --> 01:17:39,855 I mean, because ultimately 667 01:17:39,855 --> 01:17:41,256 he is gonna probably come back 668 01:17:41,256 --> 01:17:43,158 and get that global, right? 669 01:17:43,492 --> 01:17:45,027 I mean, he's gonna grow into it. 670 01:17:46,428 --> 01:17:46,461 (laughing) 671 01:17:46,728 --> 01:17:48,096 And here's something too 672 01:17:48,096 --> 01:17:50,365 that just to quick talk about, 673 01:17:50,365 --> 01:17:51,533 but you know, you said, 674 01:17:52,100 --> 01:17:53,835 well, there's a list of maybe 15 675 01:17:53,835 --> 01:17:55,537 of these type of airplanes on the market. 676 01:17:55,537 --> 01:17:58,273 We wanna get a G280, there's 15 of them. 677 01:17:58,573 --> 01:17:59,775 And we're just using that number. 678 01:18:00,475 --> 01:18:03,345 But out of that 15, there could be six 679 01:18:04,146 --> 01:18:06,448 that are just great 680 01:18:06,448 --> 01:18:07,516 airplanes to go after. 681 01:18:07,816 --> 01:18:09,351 So then the question comes back, why? 682 01:18:09,618 --> 01:18:10,986 Isn't it all maintained the same? 683 01:18:10,986 --> 01:18:12,020 It's regulated, it's FAA 684 01:18:12,020 --> 01:18:13,088 regulated, blah, blah, blah. 685 01:18:13,221 --> 01:18:13,422 Sure. 686 01:18:13,789 --> 01:18:15,323 Well, yes, but just like 687 01:18:15,323 --> 01:18:16,758 your car or anything else, 688 01:18:17,225 --> 01:18:18,527 you know, the quality of the 689 01:18:18,527 --> 01:18:19,795 work that you've done to it 690 01:18:19,795 --> 01:18:21,263 to maintain it through the years 691 01:18:21,663 --> 01:18:23,432 can vary from owner to owner, right? 692 01:18:23,799 --> 01:18:26,268 So we make sure we articulate that 693 01:18:26,368 --> 01:18:27,469 because we get that question. 694 01:18:27,536 --> 01:18:28,670 Well, I really like that one. 695 01:18:28,670 --> 01:18:29,838 That one looks great, 696 01:18:29,838 --> 01:18:31,907 interior fits, well, it's great. 697 01:18:32,841 --> 01:18:34,776 Well, yeah, but there's some issues here. 698 01:18:35,110 --> 01:18:36,812 This is, you know, let me explain it. 699 01:18:37,412 --> 01:18:39,214 There's the best deal and 700 01:18:39,214 --> 01:18:40,615 there's the best airplane. 701 01:18:40,615 --> 01:18:40,816 Yeah. 702 01:18:40,816 --> 01:18:41,683 So then you have to pay up 703 01:18:41,683 --> 01:18:42,651 to get the best airplane, 704 01:18:42,651 --> 01:18:45,220 especially right now, which is Q4. 705 01:18:45,220 --> 01:18:46,521 Q4 is typically 35 to 706 01:18:46,521 --> 01:18:47,456 40% of our business. 707 01:18:47,722 --> 01:18:49,458 So sometimes success is 708 01:18:49,458 --> 01:18:50,692 buying the airplane, right? 709 01:18:50,692 --> 01:18:51,893 Getting a good airplane. 710 01:18:51,893 --> 01:18:52,928 And so we have those 711 01:18:52,928 --> 01:18:53,628 conversations all the time, 712 01:18:53,628 --> 01:18:55,163 but this airplane is $2 million cheaper. 713 01:18:55,163 --> 01:18:56,031 Why don't we get that one? 714 01:18:56,398 --> 01:18:57,632 Well, but look at the total time. 715 01:18:57,632 --> 01:18:59,000 Look at the equipment, look 716 01:18:59,000 --> 01:18:59,768 at the paint and interior. 717 01:19:00,035 --> 01:19:00,235 Look at the cost. 718 01:19:00,235 --> 01:19:00,735 There's a reason. 719 01:19:01,002 --> 01:19:02,871 Look at the maintenance status. 720 01:19:02,871 --> 01:19:03,572 Look at the pedigree. 721 01:19:03,572 --> 01:19:04,906 You can't put a price on pedigree. 722 01:19:05,173 --> 01:19:06,108 Pedigree is my favorite, 723 01:19:06,108 --> 01:19:07,943 favorite thing to buy on air. 724 01:19:08,310 --> 01:19:10,479 I want that big corporate gold standard, 725 01:19:11,046 --> 01:19:12,214 unlimited resources, did 726 01:19:12,214 --> 01:19:13,415 every last service bulletin 727 01:19:13,415 --> 01:19:14,416 and modification and 728 01:19:14,416 --> 01:19:15,517 upgrade all that airplane. 729 01:19:15,984 --> 01:19:16,318 Yeah. 730 01:19:16,618 --> 01:19:17,686 You know, you can walk in their hangar 731 01:19:17,886 --> 01:19:19,755 and eat off the floor, it's so clean. 732 01:19:19,755 --> 01:19:20,489 And that's the type 733 01:19:20,489 --> 01:19:21,356 of operation, you know, 734 01:19:21,523 --> 01:19:22,357 those airplanes aren't 735 01:19:22,357 --> 01:19:23,391 hanging on trees, right? 736 01:19:23,391 --> 01:19:24,292 There's a lot of other 737 01:19:24,292 --> 01:19:25,894 great airplanes out there too, 738 01:19:25,927 --> 01:19:27,095 but you do have to, you 739 01:19:27,095 --> 01:19:28,096 know, you can open the page 740 01:19:28,096 --> 01:19:29,631 and see there's 30 aircraft for sale, 741 01:19:29,631 --> 01:19:31,666 but you really got to dig and see, okay, 742 01:19:31,666 --> 01:19:32,634 how are they operated? 743 01:19:32,634 --> 01:19:33,668 Where in the world are they based? 744 01:19:34,369 --> 01:19:35,570 We do a lot of 745 01:19:35,570 --> 01:19:37,773 imports, but it can, as more, 746 01:19:38,006 --> 01:19:39,307 again, building the team, right? 747 01:19:39,307 --> 01:19:40,108 When you do an import, 748 01:19:40,108 --> 01:19:41,943 it gets even more complex. 749 01:19:42,310 --> 01:19:43,545 Do you find on, you 750 01:19:43,545 --> 01:19:44,646 know, talking about the, 751 01:19:45,213 --> 01:19:46,381 I don't know, like the best 752 01:19:46,381 --> 01:19:47,315 airplane or the best deal, 753 01:19:47,749 --> 01:19:48,183 if you're talking 754 01:19:48,183 --> 01:19:49,084 about the best airplane, 755 01:19:49,618 --> 01:19:51,419 is it also, because if I'm 756 01:19:51,419 --> 01:19:52,387 thinking about jet ownership, 757 01:19:52,621 --> 01:19:53,488 I'm thinking like, I'm 758 01:19:53,488 --> 01:19:54,689 not going to have this thing 759 01:19:54,856 --> 01:19:55,857 for the rest of my life, 760 01:19:56,358 --> 01:19:57,392 at some point I'm going 761 01:19:57,392 --> 01:19:58,693 to want to sell it, right? 762 01:19:59,094 --> 01:20:00,996 So do you have that as part of the fact 763 01:20:00,996 --> 01:20:01,897 or what you're talking 764 01:20:01,897 --> 01:20:02,497 about, where it's like, 765 01:20:02,864 --> 01:20:03,899 this will maintain a lot 766 01:20:03,899 --> 01:20:05,367 of that value, you know, 767 01:20:05,567 --> 01:20:07,469 if you maintain the aircraft. 768 01:20:08,003 --> 01:20:09,504 Every time we go into a deal, 769 01:20:09,504 --> 01:20:10,806 I'm thinking of the Agri-S tragedy. 770 01:20:11,273 --> 01:20:12,007 Absolutely. I always want to 771 01:20:12,207 --> 01:20:14,342 understand, restyle, to the 772 01:20:14,342 --> 01:20:15,577 point where on the finance, 773 01:20:15,577 --> 01:20:18,013 we can run analyses that predict what 774 01:20:18,013 --> 01:20:18,847 it's going to be worth 775 01:20:18,847 --> 01:20:19,848 based on a couple of different 776 01:20:19,848 --> 01:20:22,050 sensitivities, okay, 777 01:20:22,050 --> 01:20:22,918 and a strong market, a 778 01:20:22,918 --> 01:20:24,085 middle market, a weak market, 779 01:20:24,152 --> 01:20:26,888 but more importantly, on the front end, 780 01:20:26,888 --> 01:20:27,656 you know, where is this 781 01:20:27,656 --> 01:20:28,790 going to be in three or five, 782 01:20:28,790 --> 01:20:29,257 first we're going to 783 01:20:29,257 --> 01:20:30,625 understand how long that someone 784 01:20:30,625 --> 01:20:31,626 thinks they're going to own it, right? 785 01:20:31,626 --> 01:20:32,894 Where is this going to be, okay, 786 01:20:33,628 --> 01:20:34,963 you have a 15 year old plane, 787 01:20:35,330 --> 01:20:35,764 well, if you're going 788 01:20:35,764 --> 01:20:36,731 to sell it in five years, 789 01:20:36,731 --> 01:20:38,433 now it's 20 years old, and just again, 790 01:20:38,667 --> 01:20:39,768 depending on the maintenance cycle, 791 01:20:40,235 --> 01:20:42,671 what it's equipped with, you know, again, 792 01:20:42,671 --> 01:20:43,638 we want to buy after a 793 01:20:43,638 --> 01:20:44,573 big maintenance inspection, 794 01:20:45,006 --> 01:20:46,341 not on the way in, unless 795 01:20:46,341 --> 01:20:47,576 sometimes people want to 796 01:20:48,577 --> 01:20:49,611 do a big refurbishment process. 797 01:20:49,611 --> 01:20:49,911 That's right. 798 01:20:49,911 --> 01:20:50,812 Then now walking into 799 01:20:50,812 --> 01:20:52,314 an eight year, 16 year, 800 01:20:52,314 --> 01:20:53,381 or 10 year inspection. 801 01:20:53,949 --> 01:20:55,317 Maybe isn't the worst thing in the world, 802 01:20:55,317 --> 01:20:56,484 if you want to make the jet your own, 803 01:20:57,152 --> 01:20:58,486 a lot of times those people say, 804 01:20:58,486 --> 01:20:59,087 well, I'm going to own 805 01:20:59,087 --> 01:20:59,988 it for 10 or 15 years, 806 01:21:00,121 --> 01:21:01,289 don't think I've had people say to me, 807 01:21:01,289 --> 01:21:03,024 don't even, I appreciate it, Matt, 808 01:21:03,091 --> 01:21:04,426 you're wanting to think 809 01:21:04,426 --> 01:21:05,460 about my exit strategy, 810 01:21:05,460 --> 01:21:06,328 I really appreciate that, 811 01:21:06,328 --> 01:21:07,195 but pretend I don't care 812 01:21:07,195 --> 01:21:08,230 about residual value, 813 01:21:08,230 --> 01:21:09,397 okay, well then we can go buy 814 01:21:09,397 --> 01:21:11,299 that plane overseas that had hail damage 815 01:21:11,299 --> 01:21:12,334 because it's a really good deal. 816 01:21:12,634 --> 01:21:13,468 You told me you don't 817 01:21:13,468 --> 01:21:14,769 care about residual value, 818 01:21:15,203 --> 01:21:16,137 let's go buy that plane, 819 01:21:16,137 --> 01:21:16,972 it's a really good deal 820 01:21:16,972 --> 01:21:18,073 on a late model, low 821 01:21:18,073 --> 01:21:19,708 time airplane, let's do it, 822 01:21:19,708 --> 01:21:20,842 and my customer's okay with 823 01:21:20,842 --> 01:21:22,077 it because he wanted to own it 824 01:21:22,110 --> 01:21:23,511 for a long time so the residual value 825 01:21:23,511 --> 01:21:24,613 was less important to him. 826 01:21:25,080 --> 01:21:26,214 Right, right, and then 827 01:21:26,214 --> 01:21:27,115 they can do whatever they want 828 01:21:27,115 --> 01:21:28,817 with it because they got a great deal, 829 01:21:29,317 --> 01:21:30,652 use that extra money to-- 830 01:21:31,119 --> 01:21:31,653 Yeah, and if you're 831 01:21:31,653 --> 01:21:33,121 gonna worry about the resale. 832 01:21:33,588 --> 01:21:34,856 For the longer term owners, 833 01:21:34,856 --> 01:21:35,991 but if you're gonna own it 834 01:21:35,991 --> 01:21:36,958 for two, three, or five 835 01:21:36,958 --> 01:21:38,360 years, now the residual value, 836 01:21:38,360 --> 01:21:39,494 now you have to buy it right 837 01:21:39,494 --> 01:21:40,528 and you have to have a plane 838 01:21:40,528 --> 01:21:41,129 that's gonna have 839 01:21:41,129 --> 01:21:42,397 another buyer after that, 840 01:21:42,397 --> 01:21:44,032 you don't want to be the 841 01:21:44,032 --> 01:21:45,100 last buyer of an airplane, 842 01:21:45,600 --> 01:21:46,968 in that instance with a two, three, 843 01:21:46,968 --> 01:21:48,203 five year ownership scenario. 844 01:21:48,603 --> 01:21:49,271 Can you talk to me about 845 01:21:49,271 --> 01:21:50,839 the consultative approach 846 01:21:51,239 --> 01:21:52,274 because one of the 847 01:21:52,274 --> 01:21:54,042 things when I talk to you 848 01:21:54,042 --> 01:21:55,610 about Guardian Jet and the 849 01:21:55,610 --> 01:21:57,512 way that you approach things, 850 01:21:57,512 --> 01:21:58,813 you talk about your consultative approach 851 01:21:58,813 --> 01:21:59,614 and all the resources you 852 01:21:59,614 --> 01:22:00,448 have and all the data you have, 853 01:22:00,682 --> 01:22:01,616 when did you guys make the 854 01:22:01,616 --> 01:22:03,118 decision that that was the way 855 01:22:03,118 --> 01:22:04,319 that you wanted to do business? 856 01:22:04,719 --> 01:22:06,354 Because that can't be cheap, right? 857 01:22:06,388 --> 01:22:07,789 No, we have other brokers 858 01:22:07,789 --> 01:22:08,790 that look at us all the time 859 01:22:08,790 --> 01:22:10,392 and say, boy, you have a lot of overhead 860 01:22:10,392 --> 01:22:13,295 and just it works for us, right? 861 01:22:13,428 --> 01:22:15,597 Sale in the field, they go get business, 862 01:22:15,597 --> 01:22:16,298 and then the central 863 01:22:16,298 --> 01:22:17,766 location in Guilford, 864 01:22:17,766 --> 01:22:19,301 and now we have an office in London 865 01:22:19,501 --> 01:22:20,935 and we have one in Denver now as we keep 866 01:22:21,336 --> 01:22:22,637 and again salesmen all over the world, 867 01:22:22,971 --> 01:22:24,406 but they get business and 868 01:22:24,406 --> 01:22:25,840 then the team in Guilford 869 01:22:26,408 --> 01:22:29,244 runs the deals and our consulting team 870 01:22:29,244 --> 01:22:30,278 and we have a technical 871 01:22:30,278 --> 01:22:31,513 team, we have a legal team, 872 01:22:31,513 --> 01:22:33,415 so we have all aspects of a deal too. 873 01:22:33,415 --> 01:22:34,616 Again, we still have a partner with 874 01:22:34,616 --> 01:22:35,617 teammates on your team, 875 01:22:36,851 --> 01:22:37,686 but the consultative 876 01:22:37,686 --> 01:22:38,453 approach has helped us 877 01:22:38,453 --> 01:22:40,889 because when somebody calls 878 01:22:40,889 --> 01:22:42,457 or when you get referred into somewhere, 879 01:22:42,724 --> 01:22:44,426 you can't have the first conversation, 880 01:22:44,626 --> 01:22:45,794 be, okay, well, here's my proposal 881 01:22:46,194 --> 01:22:47,696 and let me know when you're ready, 882 01:22:47,929 --> 01:22:49,130 call me when you're ready to buy. 883 01:22:49,164 --> 01:22:52,600 I literally won a deal earlier this year 884 01:22:52,767 --> 01:22:54,736 and the guy told me, well, I 885 01:22:54,736 --> 01:22:55,937 had feedback from somebody else, 886 01:22:55,937 --> 01:22:57,806 but the story was, well, why did, 887 01:22:57,806 --> 01:22:58,707 I was like, I'm just curious, 888 01:22:58,707 --> 01:22:59,374 I was like, I'm thrilled 889 01:22:59,374 --> 01:23:00,375 that he picked us obviously, 890 01:23:00,642 --> 01:23:01,810 but why did he go with Guardian Jet? 891 01:23:01,810 --> 01:23:02,310 He was talking to 892 01:23:02,310 --> 01:23:02,911 some other great brokers. 893 01:23:03,878 --> 01:23:05,347 Well, one of the brokers actually said, 894 01:23:05,347 --> 01:23:06,247 hey, yeah, there's a 895 01:23:06,247 --> 01:23:07,215 lot of hand holding here, 896 01:23:07,215 --> 01:23:08,516 and it's like he put it in these words, 897 01:23:08,516 --> 01:23:09,584 but there's a lot of hand holding here, 898 01:23:09,851 --> 01:23:10,685 call us in three months 899 01:23:10,685 --> 01:23:11,653 when you're ready to buy, 900 01:23:11,653 --> 01:23:12,754 and I'm sitting here 901 01:23:12,754 --> 01:23:13,888 getting my consulting team 902 01:23:13,888 --> 01:23:15,690 to produce cash flows for a Challenger 903 01:23:15,690 --> 01:23:17,192 versus a Golfstream versus a Phenom 904 01:23:17,759 --> 01:23:18,560 because, you know, right, 905 01:23:18,626 --> 01:23:19,694 light, super mid and heavy, 906 01:23:19,928 --> 01:23:21,563 or large cabin, and the 907 01:23:21,563 --> 01:23:22,831 guy was just so thankful, 908 01:23:22,831 --> 01:23:23,398 he just said, oh my 909 01:23:23,398 --> 01:23:24,132 God, this is just such, 910 01:23:24,566 --> 01:23:25,867 it's not just a one year budget, 911 01:23:25,867 --> 01:23:27,002 it's a 10 year budget, right, 912 01:23:27,268 --> 01:23:29,704 buy, fly, sell, tax benefits, 913 01:23:29,971 --> 01:23:31,272 so again, we just, but 914 01:23:31,272 --> 01:23:32,240 we're set up like that. 915 01:23:32,440 --> 01:23:33,475 That's easy for us because 916 01:23:33,475 --> 01:23:34,376 we've had the infrastructure, 917 01:23:34,609 --> 01:23:36,111 so it took a long time to build, 918 01:23:36,711 --> 01:23:39,014 but I think we realized that was the way 919 01:23:39,147 --> 01:23:40,615 because a lot of people had questions 920 01:23:40,615 --> 01:23:42,183 and there was so little data out there, 921 01:23:42,183 --> 01:23:43,618 and I think there's more available now 922 01:23:43,618 --> 01:23:45,053 with obviously the internet, 923 01:23:45,320 --> 01:23:46,688 the internet's here to stay, I think, 924 01:23:46,721 --> 01:23:48,757 we get the worldwide 925 01:23:48,757 --> 01:23:50,925 information superhighway. 926 01:23:53,128 --> 01:23:53,962 So there's a lot more 927 01:23:53,962 --> 01:23:54,896 information out there, 928 01:23:54,896 --> 01:23:55,997 but we realized, and 929 01:23:55,997 --> 01:23:57,966 again, kudos to Mike Dwyer, 930 01:23:57,966 --> 01:23:59,567 our founder, and I learned 931 01:23:59,567 --> 01:24:00,702 everything I know from that man, 932 01:24:01,269 --> 01:24:02,771 but he had a vision, 933 01:24:02,771 --> 01:24:03,371 and he seems to always 934 01:24:03,371 --> 01:24:04,572 be ahead of this stuff, 935 01:24:04,572 --> 01:24:06,007 but he just saw people needed help, 936 01:24:06,374 --> 01:24:07,475 whether it was a high net worth 937 01:24:07,475 --> 01:24:08,710 individual who knew nothing, 938 01:24:08,977 --> 01:24:09,677 or a high net worth 939 01:24:09,677 --> 01:24:11,212 individual that owned something, 940 01:24:11,212 --> 01:24:13,114 but knew nothing about the next phase 941 01:24:13,114 --> 01:24:14,516 or another segment of the market, 942 01:24:14,749 --> 01:24:16,818 or a director of aviation 943 01:24:16,818 --> 01:24:19,087 operations for a big company, 944 01:24:19,087 --> 01:24:19,654 whether they operate 945 01:24:19,654 --> 01:24:20,822 one, three, or seven jets, 946 01:24:21,456 --> 01:24:22,957 like you had done in your former life, 947 01:24:22,957 --> 01:24:25,527 we realized that even the most 948 01:24:25,527 --> 01:24:26,694 business-savvy director 949 01:24:26,694 --> 01:24:30,298 of aviation from pilot 950 01:24:30,298 --> 01:24:31,766 and no business background 951 01:24:32,167 --> 01:24:34,169 to pilot and very 952 01:24:34,169 --> 01:24:35,136 savvy business background, 953 01:24:35,136 --> 01:24:35,870 they all need help. 954 01:24:35,870 --> 01:24:36,438 They all need help 955 01:24:36,438 --> 01:24:37,705 reporting up to executives 956 01:24:37,906 --> 01:24:38,973 and making decks and 957 01:24:38,973 --> 01:24:40,909 bringing subject matter experts 958 01:24:40,909 --> 01:24:43,945 to help tell the message and talk about, 959 01:24:44,012 --> 01:24:45,480 so that consultative approach 960 01:24:45,647 --> 01:24:47,549 has really, really helped us out a lot. 961 01:24:47,849 --> 01:24:49,751 Yeah, and so what you do is you're making 962 01:24:49,884 --> 01:24:52,353 these resources available prior to them 963 01:24:52,353 --> 01:24:53,588 even talking to you, 964 01:24:53,588 --> 01:24:56,658 from my understanding, like going on the 965 01:24:56,658 --> 01:24:57,392 Guardian Jet website 966 01:24:57,392 --> 01:24:59,194 and everything, there's resources there. 967 01:24:59,227 --> 01:25:00,829 Our, you can go on the 968 01:25:00,829 --> 01:25:01,796 Guardian Jet website, 969 01:25:02,397 --> 01:25:04,566 we have director of IT again, 970 01:25:04,566 --> 01:25:06,334 just because of very, 971 01:25:06,334 --> 01:25:07,769 very analytical approach, 972 01:25:08,036 --> 01:25:10,138 but our resting pulse, talk about a 973 01:25:10,138 --> 01:25:11,039 transparent approach, 974 01:25:11,039 --> 01:25:12,140 our resting pulse is 975 01:25:12,140 --> 01:25:13,074 you go to our website, 976 01:25:13,508 --> 01:25:14,375 John Q. Public can 977 01:25:14,375 --> 01:25:15,543 click, you can do range rings, 978 01:25:15,543 --> 01:25:16,711 you can look at cabin comparison, 979 01:25:16,978 --> 01:25:18,680 you can look at cost comparison, 980 01:25:18,913 --> 01:25:19,681 it's a high level, but 981 01:25:19,681 --> 01:25:21,616 it's powerful stuff there, 982 01:25:21,616 --> 01:25:22,617 there's a lot of data there. 983 01:25:23,051 --> 01:25:24,052 We want you to call us, 984 01:25:24,052 --> 01:25:25,153 and what we've learned with that 985 01:25:25,153 --> 01:25:26,788 consultative approach is, 986 01:25:27,188 --> 01:25:28,857 if 99 out of 100 guys hire us, 987 01:25:28,857 --> 01:25:29,557 there might be that one 988 01:25:29,557 --> 01:25:30,825 guy that uses us for our data 989 01:25:30,825 --> 01:25:31,826 and does something else or 990 01:25:31,826 --> 01:25:32,694 does something on his own, 991 01:25:32,694 --> 01:25:33,695 but there's 99 clients 992 01:25:33,695 --> 01:25:34,629 there out of that 100, 993 01:25:34,629 --> 01:25:36,397 because they see that you care 994 01:25:36,397 --> 01:25:36,998 and they see that 995 01:25:36,998 --> 01:25:37,866 you're going out of your way 996 01:25:37,866 --> 01:25:39,200 to give them good data and 997 01:25:39,200 --> 01:25:40,335 that we have that good data 998 01:25:40,735 --> 01:25:41,402 available quickly. 999 01:25:42,103 --> 01:25:44,873 And so, I think 1000 01:25:44,873 --> 01:25:46,207 putting that all out there 1001 01:25:46,441 --> 01:25:48,710 has worked for us, right? 1002 01:25:48,710 --> 01:25:49,210 A lot of people, I 1003 01:25:49,210 --> 01:25:50,111 think, shield information 1004 01:25:50,378 --> 01:25:51,246 to use it as their edge. 1005 01:25:52,013 --> 01:25:53,648 We think differently, we think, okay, 1006 01:25:53,915 --> 01:25:55,950 I'm talking to the 1007 01:25:55,950 --> 01:25:56,985 smartest guys in the world, 1008 01:25:56,985 --> 01:25:58,486 I want to give them data and let them 1009 01:25:58,486 --> 01:25:59,187 read the tea leaves. 1010 01:25:59,454 --> 01:26:00,855 I want to be here to coach and advise 1011 01:26:00,855 --> 01:26:02,690 and give my recommendation when asked, 1012 01:26:02,690 --> 01:26:05,326 but it's not a, never feel pushy with us. 1013 01:26:05,393 --> 01:26:06,127 Well, it's gotta be great to have 1014 01:26:06,127 --> 01:26:06,761 somebody that's like, 1015 01:26:06,761 --> 01:26:07,629 hey, I read all the 1016 01:26:07,629 --> 01:26:08,830 stuff you guys put out, 1017 01:26:09,230 --> 01:26:10,965 and I think, it's like, 1018 01:26:10,965 --> 01:26:12,133 that probably saves you time 1019 01:26:12,133 --> 01:26:14,068 in having to educate them with stuff, 1020 01:26:14,636 --> 01:26:15,270 if they're already out 1021 01:26:15,270 --> 01:26:15,970 there educating themselves 1022 01:26:15,970 --> 01:26:16,838 on the stuff you're putting out. 1023 01:26:17,138 --> 01:26:17,705 One of the things that 1024 01:26:17,705 --> 01:26:18,606 we have is Jet Finder 1025 01:26:18,606 --> 01:26:21,242 and you can plug in, hey, I 1026 01:26:21,242 --> 01:26:22,510 have this many passengers, 1027 01:26:22,510 --> 01:26:23,411 this is my budget, this 1028 01:26:23,411 --> 01:26:24,445 is how far I want to go, 1029 01:26:24,445 --> 01:26:26,214 and it'll produce some 1030 01:26:26,214 --> 01:26:27,448 available options there. 1031 01:26:27,949 --> 01:26:28,750 And you can set alerts 1032 01:26:28,750 --> 01:26:30,318 where you get notified 1033 01:26:30,318 --> 01:26:30,852 if there's a price 1034 01:26:30,852 --> 01:26:31,920 reduction or a new airplane 1035 01:26:31,920 --> 01:26:33,354 came to market or an airplane sold, 1036 01:26:33,354 --> 01:26:35,156 and I'll get texts or calls one morning 1037 01:26:35,156 --> 01:26:35,990 and they'll say, hey, did 1038 01:26:35,990 --> 01:26:36,858 you see that Challenger 300 1039 01:26:36,858 --> 01:26:37,725 that came out last night? 1040 01:26:38,760 --> 01:26:39,494 No, but give me 10 1041 01:26:39,494 --> 01:26:40,461 minutes, let me go get school. 1042 01:26:40,895 --> 01:26:41,829 Because they're getting alerts 1043 01:26:41,829 --> 01:26:42,597 and they're seeing this 1044 01:26:42,597 --> 01:26:43,431 stuff sometimes before. 1045 01:26:43,431 --> 01:26:44,465 I'm seeing it because my 1046 01:26:44,465 --> 01:26:45,767 researchers are putting it in live 1047 01:26:45,767 --> 01:26:47,669 real quick and learn about a plane 1048 01:26:48,570 --> 01:26:48,937 most of the time 1049 01:26:48,937 --> 01:26:49,771 before it comes to market. 1050 01:26:50,371 --> 01:26:51,639 What's the future hold for you guys? 1051 01:26:52,073 --> 01:26:52,974 Where are you going? 1052 01:26:52,974 --> 01:26:54,208 Because I know we talked about some 1053 01:26:54,208 --> 01:26:55,443 international offices, 1054 01:26:55,443 --> 01:26:56,778 some other lines you're getting into. 1055 01:26:57,312 --> 01:27:00,348 Well, so near term is 1056 01:27:00,348 --> 01:27:03,084 finishing Q4 strong, right? 1057 01:27:03,685 --> 01:27:04,586 Again, I said it, 35 1058 01:27:04,586 --> 01:27:06,487 to 40% of our business 1059 01:27:06,688 --> 01:27:07,488 has done this quarter. 1060 01:27:09,490 --> 01:27:11,626 100% tax depreciation is certainly-- 1061 01:27:12,093 --> 01:27:13,394 Not a bad time to buy a job. 1062 01:27:14,395 --> 01:27:15,163 Has certainly helped. 1063 01:27:15,163 --> 01:27:15,897 And again, we said 1064 01:27:15,897 --> 01:27:17,098 whether that's actually 1065 01:27:18,333 --> 01:27:19,167 gonna be useful for 1066 01:27:19,167 --> 01:27:20,435 someone as they dive into there, 1067 01:27:20,435 --> 01:27:21,669 or if it's just a mental thing, 1068 01:27:21,669 --> 01:27:22,537 and there's just a lot of 1069 01:27:22,537 --> 01:27:23,571 people that wanna buy and sell 1070 01:27:23,571 --> 01:27:24,339 by the end of the year. 1071 01:27:25,273 --> 01:27:27,675 Long-term vision, we set out about a year 1072 01:27:27,675 --> 01:27:28,676 and almost two years 1073 01:27:28,676 --> 01:27:30,011 now to double the company 1074 01:27:30,011 --> 01:27:30,712 in three years, and 1075 01:27:30,712 --> 01:27:31,713 we're on our way to do that. 1076 01:27:31,946 --> 01:27:33,314 We expanded into the light jets, 1077 01:27:33,615 --> 01:27:35,416 so we set out a growth in the light jets, 1078 01:27:35,450 --> 01:27:37,218 because again, our thing-- 1079 01:27:37,919 --> 01:27:38,920 Describe light jets for me, 1080 01:27:38,920 --> 01:27:39,487 because I don't know, 1081 01:27:39,487 --> 01:27:40,688 like a jet's a jet to me, 1082 01:27:40,688 --> 01:27:41,422 so what's a light jet? 1083 01:27:41,456 --> 01:27:42,523 And I say light jets, and 1084 01:27:42,523 --> 01:27:43,558 we've always done light jets. 1085 01:27:44,058 --> 01:27:45,026 We've sort of specialized in 1086 01:27:45,026 --> 01:27:45,860 the super minute and above. 1087 01:27:45,860 --> 01:27:46,861 We've always done light jets. 1088 01:27:47,128 --> 01:27:48,329 I say light jets, to me 1089 01:27:48,329 --> 01:27:50,164 light jets means light jets 1090 01:27:50,365 --> 01:27:51,199 and smaller, so light 1091 01:27:51,199 --> 01:27:52,233 jets and turboprops, 1092 01:27:52,233 --> 01:27:53,468 so it's like patient jets, phenoms, 1093 01:27:54,269 --> 01:27:55,403 Pilatus, King Air, right? 1094 01:27:56,270 --> 01:27:57,772 Right, so some of your 1095 01:27:57,772 --> 01:27:59,207 shorter range smaller jets? 1096 01:27:59,207 --> 01:28:00,074 Yes. Yeah, okay. 1097 01:28:00,708 --> 01:28:01,576 I just named model, 1098 01:28:01,576 --> 01:28:02,210 that didn't tell you what-- 1099 01:28:02,510 --> 01:28:03,678 Yeah, yeah, yeah, I don't 1100 01:28:03,678 --> 01:28:04,312 know what those are either. 1101 01:28:04,545 --> 01:28:05,113 (laughing) 1102 01:28:05,880 --> 01:28:07,348 Everything's a 300 in this world. 1103 01:28:07,382 --> 01:28:08,650 Right, we always talk about-- 1104 01:28:08,650 --> 01:28:09,517 We just got another one. 1105 01:28:09,717 --> 01:28:10,251 Right, right. 1106 01:28:10,551 --> 01:28:11,786 Yeah, G300, talented 300. 1107 01:28:11,819 --> 01:28:12,253 Yeah, G300. 1108 01:28:12,287 --> 01:28:13,421 300, 300. 1109 01:28:14,288 --> 01:28:15,089 Which one am I talking about? 1110 01:28:15,390 --> 01:28:17,158 Yeah, smaller cabins don't go as far, 1111 01:28:17,158 --> 01:28:18,593 don't cost nearly as much to operate, 1112 01:28:19,193 --> 01:28:20,094 and there's a lot of 1113 01:28:20,094 --> 01:28:22,297 growth in that aspect. 1114 01:28:22,297 --> 01:28:23,564 I mean, there's just so many people 1115 01:28:23,731 --> 01:28:24,532 with planes in this 1116 01:28:24,532 --> 01:28:25,767 country, it's just unbelievable. 1117 01:28:26,134 --> 01:28:28,736 So we started the light jet business, 1118 01:28:28,736 --> 01:28:29,237 and again, it's light 1119 01:28:29,237 --> 01:28:30,471 jets and turboprops, 1120 01:28:30,471 --> 01:28:31,673 and it's really, again, 1121 01:28:31,673 --> 01:28:32,774 we alluded to this before, 1122 01:28:32,807 --> 01:28:33,875 but it's not always 1123 01:28:33,875 --> 01:28:35,410 hitting grand slams for us, 1124 01:28:35,410 --> 01:28:38,746 it's volume, it's a lot of deal, right? 1125 01:28:38,746 --> 01:28:40,648 Again, doing the right thing over time, 1126 01:28:41,616 --> 01:28:43,051 starting with a guy small 1127 01:28:43,051 --> 01:28:44,652 and then kind of grow with him. 1128 01:28:45,253 --> 01:28:47,355 So we see a lot of growth in that, 1129 01:28:47,355 --> 01:28:49,524 we have whole companies focused on it, 1130 01:28:49,524 --> 01:28:50,425 we have two main people 1131 01:28:50,425 --> 01:28:51,526 that are focused on that, 1132 01:28:51,526 --> 01:28:52,527 we wanna grow that over the 1133 01:28:52,527 --> 01:28:53,594 next couple of years as well. 1134 01:28:54,028 --> 01:28:54,228 Nice. 1135 01:28:54,696 --> 01:28:55,463 What would you say to 1136 01:28:55,463 --> 01:28:58,566 somebody that is getting into 1137 01:28:59,133 --> 01:29:00,835 the idea of jet ownership, 1138 01:29:00,835 --> 01:29:02,003 maybe for the first time? 1139 01:29:02,470 --> 01:29:03,638 Where should they start? 1140 01:29:03,638 --> 01:29:05,139 What should they be thinking about first? 1141 01:29:06,708 --> 01:29:07,408 That's a good question. 1142 01:29:07,408 --> 01:29:08,843 So presumably, you 1143 01:29:08,843 --> 01:29:10,011 would have already been 1144 01:29:10,078 --> 01:29:11,813 flying private somehow, right? 1145 01:29:12,080 --> 01:29:13,715 It happens, but it's rare 1146 01:29:13,715 --> 01:29:15,116 that, this has happened, 1147 01:29:15,650 --> 01:29:16,951 where people come in and they say, 1148 01:29:16,951 --> 01:29:17,819 I've never charted an 1149 01:29:17,819 --> 01:29:18,786 airplane, I've never, 1150 01:29:19,153 --> 01:29:21,155 I don't know anything, just I have money, 1151 01:29:21,155 --> 01:29:21,989 I need to tax write 1152 01:29:21,989 --> 01:29:23,291 off, and I think it's cool, 1153 01:29:23,291 --> 01:29:25,226 I wanna, that's happened, that's rare. 1154 01:29:25,793 --> 01:29:26,627 And we tell those guys, 1155 01:29:26,994 --> 01:29:28,096 you should go charter jet, 1156 01:29:28,096 --> 01:29:29,931 go charter jet, get to feel what you, 1157 01:29:30,431 --> 01:29:32,133 get to see what you like, 1158 01:29:32,200 --> 01:29:35,103 see what cabin size is, 1159 01:29:35,837 --> 01:29:36,971 what internet connectivity, 1160 01:29:37,472 --> 01:29:39,407 what type of missions 1161 01:29:39,407 --> 01:29:40,308 you're doing, right? 1162 01:29:40,308 --> 01:29:41,376 So go charter jet. 1163 01:29:41,376 --> 01:29:42,377 So someone that's now, 1164 01:29:42,377 --> 01:29:43,010 so again, presumably, 1165 01:29:43,177 --> 01:29:44,512 they would have had X 1166 01:29:44,512 --> 01:29:46,214 number of hours flying for years. 1167 01:29:46,514 --> 01:29:48,382 So what I say to these guys, again, 1168 01:29:48,382 --> 01:29:50,318 I said it earlier in this conversation, 1169 01:29:50,952 --> 01:29:52,420 really understand your mission. 1170 01:29:52,954 --> 01:29:53,921 Buy an airplane for 80 1171 01:29:53,921 --> 01:29:55,189 or 90% of your mission. 1172 01:29:55,189 --> 01:29:56,023 Don't buy the airplane 1173 01:29:56,023 --> 01:29:56,991 because you take one trip 1174 01:29:56,991 --> 01:29:58,493 to Japan every year, right? 1175 01:29:58,493 --> 01:29:58,693 Yeah. 1176 01:29:59,594 --> 01:30:02,797 So buy a plane that fits 1177 01:30:02,797 --> 01:30:03,998 80 to 90% of your mission, 1178 01:30:04,632 --> 01:30:05,900 really understand the cost. 1179 01:30:05,900 --> 01:30:06,834 There is no rush, 1180 01:30:07,168 --> 01:30:08,403 although it happens all the time, 1181 01:30:08,403 --> 01:30:09,070 and it's great for-- 1182 01:30:09,070 --> 01:30:11,005 We're in Q4, man, I gotta get this done. 1183 01:30:11,873 --> 01:30:12,407 We get that all 1184 01:30:12,407 --> 01:30:14,108 November 10th that people need 1185 01:30:14,108 --> 01:30:15,209 an airplane by the end of the year, 1186 01:30:15,209 --> 01:30:16,010 and we'll work with them, 1187 01:30:16,010 --> 01:30:17,011 we'll work at their pace, 1188 01:30:17,011 --> 01:30:18,012 we will do that. 1189 01:30:18,679 --> 01:30:20,248 But to my end, it's because 1190 01:30:20,248 --> 01:30:21,516 people's total tax structure 1191 01:30:21,516 --> 01:30:23,050 come into focus 1192 01:30:23,050 --> 01:30:23,851 towards the end of the year, 1193 01:30:23,851 --> 01:30:25,853 so they know now what type of 1194 01:30:25,853 --> 01:30:26,587 write off they're gonna need. 1195 01:30:27,388 --> 01:30:28,990 But for me, it's there's no rush. 1196 01:30:29,290 --> 01:30:30,391 I will move at the rush 1197 01:30:30,391 --> 01:30:32,059 pace, but there is no rush. 1198 01:30:32,059 --> 01:30:33,828 You have time to really do your research. 1199 01:30:33,828 --> 01:30:34,929 I mean, the amount of research I do 1200 01:30:35,430 --> 01:30:36,998 when I go buy a car or something, 1201 01:30:36,998 --> 01:30:38,466 I mean, it's amazing how 1202 01:30:38,466 --> 01:30:40,168 sometimes people just jump right in. 1203 01:30:40,168 --> 01:30:40,935 So understand the 1204 01:30:40,935 --> 01:30:42,670 mission, understand the costs 1205 01:30:42,970 --> 01:30:43,805 of ownership and 1206 01:30:43,805 --> 01:30:45,573 everything that goes into ownership. 1207 01:30:47,108 --> 01:30:47,875 So I think those are the 1208 01:30:47,875 --> 01:30:48,609 two most important things. 1209 01:30:49,076 --> 01:30:50,144 Yeah, I totally agree. 1210 01:30:50,144 --> 01:30:51,712 The whole team that you trust, right? 1211 01:30:51,946 --> 01:30:52,914 That's the main thing here, 1212 01:30:52,914 --> 01:30:54,549 is that you gotta know who you trust. 1213 01:30:55,516 --> 01:30:56,150 Any final thoughts 1214 01:30:56,150 --> 01:30:56,984 before we wrap things up? 1215 01:30:57,752 --> 01:30:58,753 I think we covered a lot. 1216 01:30:59,287 --> 01:31:00,288 I could take three hours 1217 01:31:00,288 --> 01:31:01,589 to do something like this. 1218 01:31:01,589 --> 01:31:03,591 So we did a lot in 40 minutes here. 1219 01:31:03,591 --> 01:31:04,292 And I just wanna say 1220 01:31:04,292 --> 01:31:05,326 thanks very much for having me. 1221 01:31:05,326 --> 01:31:06,194 I think you guys are on to 1222 01:31:06,194 --> 01:31:07,328 something really cool here. 1223 01:31:08,095 --> 01:31:08,429 Excuse me. 1224 01:31:08,796 --> 01:31:10,731 I think we're in a very cool industry. 1225 01:31:10,932 --> 01:31:12,266 Again, I said it earlier, it's opaque. 1226 01:31:13,134 --> 01:31:14,569 It's niche, it's very cool. 1227 01:31:14,936 --> 01:31:16,037 And not a lot of people are 1228 01:31:16,037 --> 01:31:17,338 doing this in other industries 1229 01:31:17,338 --> 01:31:18,306 in other areas of life, 1230 01:31:18,306 --> 01:31:19,273 you're seeing the podcasts 1231 01:31:19,273 --> 01:31:20,074 and things like that. 1232 01:31:20,074 --> 01:31:21,576 So the fact that you guys are doing this, 1233 01:31:21,576 --> 01:31:22,476 I think it's really cool. 1234 01:31:22,510 --> 01:31:22,977 Thank you. 1235 01:31:23,177 --> 01:31:23,611 Pleasure to be here. 1236 01:31:24,278 --> 01:31:25,413 The whole thing is just to get this 1237 01:31:25,413 --> 01:31:26,314 information out there 1238 01:31:26,547 --> 01:31:27,348 kind of like your vault. 1239 01:31:27,648 --> 01:31:30,751 And so people can click on episodes 1240 01:31:30,751 --> 01:31:31,552 and see what they wanna 1241 01:31:31,552 --> 01:31:33,721 see and learn what they need. 1242 01:31:33,955 --> 01:31:34,822 But dude, thank you for 1243 01:31:34,822 --> 01:31:35,723 taking the time to do it. 1244 01:31:35,723 --> 01:31:37,325 I mean, this is great. 1245 01:31:37,658 --> 01:31:38,926 You guys are kind of 1246 01:31:38,926 --> 01:31:40,261 at the top of the game 1247 01:31:40,328 --> 01:31:43,097 on jet brokership, or what is it, 1248 01:31:43,097 --> 01:31:43,631 brokership brokerage? 1249 01:31:43,631 --> 01:31:43,998 Brokerage. 1250 01:31:45,233 --> 01:31:45,433 Yeah. 1251 01:31:45,933 --> 01:31:46,534 On jet brokerage. 1252 01:31:47,635 --> 01:31:50,304 And I think it's just a great example 1253 01:31:50,304 --> 01:31:50,938 of how to do things 1254 01:31:50,938 --> 01:31:51,572 right in the industry. 1255 01:31:52,073 --> 01:31:54,075 And that's the kind of 1256 01:31:54,075 --> 01:31:55,109 perspective we're looking to have. 1257 01:31:55,176 --> 01:31:55,443 So once again, thanks so 1258 01:31:55,610 --> 01:31:57,311 Matt Walter, Guardian Jetffff. 1259 01:31:57,778 --> 01:31:58,679 Appreciate it, Matt. 1260 01:31:59,013 --> 01:31:59,480 Appreciate it, Matt. 1261 01:31:59,514 --> 01:32:00,615 Always, thanks very much. 1262 01:32:01,282 --> 01:32:02,083 All right, awesome.