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Today the company employs five pilots and has a high-season payroll of about 38 people. And it provides additional services, such as traffic flights for two Toronto radio stations from a base at Buttonville airport, as well as flights from the Canadian National Exhibition grounds during the summer – the only licensed downtown helicopter pad in the city. They also provide special operations; when Toronto recently celebrated the 30th birthday of the CN Tower with a re-enactment of the placement of the antennae on top of the tower, The Helicopter Company arranged for the importation and landing of the Sikorsky "Sky Crane" at the base of the tower.
But Henderson stresses that the key to the company's success is focus. "If you split your focus, you will lose it. By maintaining our tourism niche, we have gained and grown more as a business than if we had taken the typical model of aviation, which is to bid on every bloody contract on the market and see which one you get. Focus on your niche and what you're good at, and you'll have long term success."
www.helitours.ca
How to find the perfect buyer
The two questions you must ask… and how to learn even more
By Steven Beal and Ted J. Leverette
You can waste a lot of time and energy – and put yourself at risk – talking to unqualified buyers. Learn how to screen them, and you'll find the right buyer in a lot less time, and minimize risk.
Ask every buyer these two important questions
The first thing you should do when you communicate with prospective buyers is ask these questions. If they give the right response, great; continue discussions. But if they don't tell you what you want to hear, don't waste any more time.
Question One
What interests you in this type of business?
The right response
I know the industry because I’ve worked in it for many years.
Trying to sell to somebody who wants to go to school on your time usually means no sale. Worse, you could sell to somebody without qualifications to succeed. Unhappy buyers have a tendency to sue and/or not pay former owners.
Question Two
What salary must a business pay you, and what is the return you expect on your investment?
The right response
I need to earn at least [a specific sum] per month in salary. In addition, the business’ profit must yield me at least [a specific number] percent on my investment.
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