Rob McKenzie <0730am> writes:

Yesterday while folding after my last tandem of the day at the
Andy Jackson Airpark a local pilot friend asked if it was true that Dianne and I
were closing our business. I confirmed it and the target date of May 31st 2019.
When she asked about how it would close and would it be taken over by another
instructor I stated we were just going to cut it up and sell off the pieces. She
was shocked and encouraged me to sell it as a business package since it would be
worth more (I disagree) plus it would be better for hang gliding as a sport to
continue the school (I agree).

I believe that it is likely worth more in pieces because a business like this
requires the talent(s) of an individual or partners and without such talent and
dedication, even a fully running business would soon fail. And anyone with such
required talent needs only some basic equipment and can build it up the way they
like, much like Dianne and I did over those 37 years. But to follow through on
that promise to her, and at least give it a chance to sell in a way that helps
the sport below is what a package might roughly look like.

I am therefore entertaining the idea of recruiting a new owner until Jan 1st
2019 with a qualified buyer taking over on about June 1st 2019. So after January
1st 2019 if we don’t see a qualified (talented and dedicated) buyer, I plan to
begin chopping up the pieces and selling them off with the last pieces becoming
available on June 1st 2019. The items to be sold are listed here with an
approximate value as an individual piece:

• 1,300 sq ft house in San Bernardino 10 minutes from the Andy Jackson Airpark.
  4231 Sepulveda Ave., San Bernardino, 92404. Current market value ~$300K.


• 2001 Ford Econoline 15 passenger Van with racks for 8 glider s non-stacked with
  90,000 miles, $4K.


• Custom storage container with 22’ length and racks inside to hold up to 48
  gliders. $3K.


• About 20 gliders of which 8 are Falcons, Freedom, EZ, Eagle, Spectrums, others,
  $15K.


• 15 harnesses and 15 chutes, $9K.


• Down tube stock of about 50 tubes, various brackets, frame parts, fasteners,
  wheels, simulator, radios, varios $4K.


• FLYTANDEM.COM domain, unknown value.

The entire package if the business is continued locally here would be let go for
$300K (no realtor needed and we won’t finance) which is about like saying, buy
the house at $300K and get everything hang gliding that we own (~$35K) included
in the deal.

It was been a wonderful experience with Dianne and I starting the business
together in 1981. It began with a single tandem glider which I purchased using
the profits from hosting the Socal Regionals, and as profits from tandems were
made, we reinvested to grow our inventory and sales volume expanding into full
instruction. Now after 37 years it has allowed us to realize over a million in
net worth, and all just from full time hang gliding.

I really am skeptical that it could be continued which is why I believe that
selling off the pieces is the only viable exit ramp. But that choice will come
Jan 1st. Contact through http://flytandem.com if you have a proposal or suggestion. Note: the local
flying site requires operating with PASA Certification and either SBFS or LBFS
insurance.