RE: Dave's comment. It is entirely possible to combine one's avocation with occupation. Hang around an FBO, witness the yearling CFIs thirsty for flight time. It isn't only a paycheck nor only flight time they seek although to ask them it is flight time which is of importance. But practically speaking they must eat therefore the paycheck is also important. The owner of a successful Part 141 school once commented to me (after I had suggested he pay his CFIs more money) that he couldn't keep them out of the cockpit...as to imply a love of occupation was compensation enough.
RE: TD's comment. Just a year before I started this thread I had tried to buy an existing banner tow operation. Forget the fact that the owner was a real whacko, the nail in the coffin was the FSDO put the kibosh on the deal. There was exactly ONE man in the whole Western Region willing to help but he was retiring and the man he passed the reigns to was decidedly against transfer of ownership and decidedly for supporting existing competition in the region (3 western states).
In this industry it is a third party aka fed govt which is an obstacle to overcome among the many obstacles in creating a successful business.
I know many others do prevail so lest this seem I am whining but at what cost? How much of personal monies are laid on the table for 1 to 3 years while the FSDO sorts it out? Bootstrapping...it is laughable. Small time investors...they'll likely bail before the feds get around to making a decision. I dare say it requires millions invested before a business is even launched. Screw that, the investor yields a better return on restored muscle cars or curio firearms. And, as explained to me in depth by two experienced, helpful men in two different FSDOs, quite often it the make or break of a private enterprise in aviation comes down to the decision of ONE person in the FSDO.
