Sergey Petrossov found a way to eliminate the ‘middle man’ in private jet charters, allowing members to book their private air travel within minutes right on their smartphones. That’s when he builds Jetsmarter, an app maybe some of us never imagined there’s gonna be a market for it. Like all visionary entrepreneurs, Sergey Petrossov is in the business of solving problems and creating opportunities
Jetsmarter is essentially broken down into three types of services. JetCharter allows members to charter a whole aircraft and tailor their entire trip. JetDeals offer exclusive one-way flights on private jets, which are offered free for members on the app. Finally, JetShuttle provides an option or members to search for and book an already scheduled flight as well as create their own JetShuttle. However even beyond all of these services, Jetsmarter is becoming a force to be reckoned with. Where they started as a company who was revolutionizing an existing industry, they have quickly transformed into a category creator. Founder Sergey Petrossov shares the vision and process behind developing a brand poised to democratize an entire industry.
Sergey said “When we started off we originally wanted to create an end-to-end digital charter solution, meaning you could go on the app and the transaction would be fully done in a couple of minutes. We did that but when we got in the game we realized that a lot of these operators were running extremely inefficiently. The average airplane that was certified to fly commercially was flying about 250 hours a year when optimally they could be flying say 1,200 ours a year. If you think about that it’s a $40 billion market flying at only one-fifth its efficiency. Then even out of those 250 hours flown 35% were empty. You had this glutton of supply because it was only servicing a small group of the market. We said if we could buy this excess capacity in bulk and for cheap then we could break it down by seat and open up massive opportunities. For the people that do fly it’s massive cost savings and we’d also open up an entirely new layer between business/first and private. We created new product lines out of it.”
60% of their members have never flown on a private jet before, they came from all different kinds of people. Obviously there is an inherent income minimum, but because we have varied product lines we can service different needs. I would say our products differentiate by trends and types of people. New flyers could be people that travel to a certain place and have some flexibility in their schedule. They join to change their lifestyle and how they get there. Some join for leisure, some join for business.
Our product isn’t intended to be a cost saver when it comes to business or first class, it is somewhere in between. If you are a high demanding customer, for you to get benefits out of our membership in terms of flying complimentary you need to have a more flexible schedule. If you are not that flexible, we have products like Create Your Own Shuttle, so instead of booking a whole airplane you book a number of seats. Essentially it’s like a regular airline but that flies just for you at your time of need. You have to pay for that flexibility, if you want to bring companions you pay for it.
For people that already fly and are spending $150,000 a year we can save them two-thirds of their money and they would still have the same amount of flexibility. For a person that has never flown before we can’t really save them money but we’re not intending to because we’re not a commodity. What we are trying to do is change their way of life. Jetsmarter really has become a category creator because what we’re seeing is that these people end up flying more. They start travelling more with their families and significant others because they can, and that is a new category. It’s like why you join an art club; you’re not doing it because you used to go but because it’s a lifestyle change.
Source : Haute Living NATALIE STOCLET