For over four decades, I have started well over 100 businesses in any number of varied fields. In the past several weeks, this roster of start-ups has been expanded by two new or greatly expanded businesses that are related to yet another start-up of 18 months in the luxury vacation villa field.
Here’s the deal…I simply cannot help myself. lol When the creative juices start to flow, my greatest form of endorphin rush has always been starting a new venture or adding a novel twist to an existing one.
The first new venture, of only two weeks is actually a rocket-propelled version of someone else’s business that we took a major stake in – Pet Jets. This very unusual niche business arranges private aviation transport of cherished pets to accompany their well-to-do owners on private jets. Our new web site just went up and we have actually received a dozen new charter requests. Now, these little jaunts are not exactly “bargains,” often costing over $60,000 for even a one way trip for these pampered pets and their owners. However, the newly instituted “Pet Travel Club” actually cuts the cost in half for owners who partner up on their “Pet Trips.” By combining our inventory of “Pet Friendly” luxury villas around the world…one can now actually take your beloved pets on vacation with you. We give “togetherness” a whole new meaning. 🙂
The next venture, which actually launched only today is HL Cost Seg and this takes a nearly 20 year old, IRS-approved tax benefit for commercial real owners and applies the same benefits to luxury vacation villas and even boutique hotels. We partnered up with one of the country’s premier providers of Cost Segregation Studies and will offer to put up the cost of same for select properties in which we receive access to a negotiated block of unused time in these rental properties. We then re-market this acquired time, (always subject to availability on the Owner’s Calendar) to our HNW membership of luxury travelers. The result…villa and boutique hotel owners receive literally hundreds of thousands of real tax benefits and even IRS refunds…for a cost of nothing more than empty time in their properties. You can see an example of an $8 million vacation villa that received nearly $1 million in tax benefits resulting in a half a million in actual cash flow…all from a cost segregation study performed by our provider.
So, what’s the “Plight” referred to in my headline? Well, by the time the novelty of both of these great ventures wears off…I will likely have come up with many more “sure thing” ideas…some of which may actually be so…others, not so much. lol
The challenge is in finding professional operators and executors who can take the framework of my nascent business ventures and both implement procedures and sustain the growth to profitability. I’ve managed to find some great partner/operators in recent years but always need more. Any takers?