Steve VarsanoFounder at The Jet Business

The Jet Business CNBC Editorial January 2012

Name: The Jet Business CNBC Editorial January 2012
Uploaded: 2012-01-26T15:55:36+00:00
Duration: 1 min 47 s
Channel: Steve Varsano
Description: The editorial showcases the world’s first corporate jet showroom opened by Jet Business in Belgravia, London, designed to attract ultra‑high net‑worth…

26 Jan 2012 · 2 min

Watch on YouTube

1:47

The editorial showcases the world’s first corporate jet showroom opened by Jet Business in Belgravia, London, designed to attract ultra‑high net‑worth individuals with immersive features such as floor‑to‑ceiling video walls, a mock Airbus cabin, and blackout windows. The showroom offers a “one‑stop shop” where buyers can browse hundreds of jets, ranging up to $80 million, with a highlighted $40 million transatlantic jet that includes a double bed. Founder Steve Varsano notes a dramatic shift in demand: in the past three years, about 70 % of orders now come from outside the United States, driven by growth in China and other BRIC economies. He argues that corporate jets are no longer mere luxuries but can provide measurable economic benefits, citing a correlation between Fortune 500 company performance and jet ownership. However, prospective buyers must also contend with long delivery times—approximately five years from order to first flight.

Chapters

Welcome to the world's very first corporate jet showroom. This Bond-esque setup has been specially designed, from the floor-to-ceiling video walls to the mock-up Airbus interior, to lure in the very wealthiest of shoppers, people known in corporate jet parlance as ultra-high net worth individuals. The Jet Business, the company behind this extravagant showpiece, described this as a one-stop shop for for anyone with enough cash to spend on a corporate jet. Prospective buyers can browse through the hundreds of jets on offer, some costing up to $80 million, at the touch of a button. Blackout windows shield more privacy-conscious buyers from prying eyes. Jet Business founder Steve Varsano says his Belgravia showroom is a game changer for the corporate jet industry.
We think that a face-to-face contact is super, super important. We think that being able to have like an information library that you can display graphically on this huge video screen that you've seen is very important. So a lot of our clients, they think they know what's available out there, but really nobody really knows everything that's available.
For the small sum of $40 million, this is what you can get: a corporate jet capable of flying transatlantic flights, It's kitted out with all the mod cons. There's even a double bed in the back. But in these times of austerity, who actually has the money to spend on this?
It's completely changed. In the last 3 years, 70% of all orders are outside the US, with the big growth markets being China and the other BRIC economies.
And rather than proving a pricey luxury, spending on a jet could actually give your business a lift.
The days of corporate excess have gone, and I think now you have to be able to justify an economic benefit of using corporate business travel, and I think that's been proven. If you look at the performance of, say, the Fortune 500 companies, there is a correlation between the success of the Fortune 500 companies and those that own and operate business jets.
But if you feel that a corporate jet is just what your business needs to take off, then hopefully you're not in a hurry. Bear in mind that the average time between placing an order and that first transatlantic cocktail is another 5 years.