When long-time friends Kelvin “PJKev” Mensah and Aaron Wilson decided to turn their love for private jet travel into a new business, they had already established what was once described as a "stellar track record as entrepreneurs working with premiere startup organizations and influencers".
Mensah, a Ghanaian-American, already had two decades of experience in providing private flights across four continents and was recognized as one of the most successful private jet brokers in the world. Wilson’s background was as a business consultant and venture capitalist whose industry experience spanned across emerging technology, entertainment, and private equity.
Wilson and Mensah, who in early 2020 co-authored the widely praised 'How To Get Funding for Your Startup', around the same time launched Approved Jets, which began as a private aviation brokerage but has since morphed into a one-stop luxury travel booking destination. The dynamic duo generated first-year revenues in the millions of dollars – and both today believe they have just gotten started.
In an exclusive interview, Wilson said that the initial client list included many professional athletes, musicians, attorneys, physicians, and others who rely heavily on air travel - and often on short notice. After four years of steady growth, Approved Jets has expanded from air travel to securing yachts, ground transportation, and luxury vehicles – but this growth also revealed the opportunity for an even bigger vision.
Today, Approved Jets has spun off a sister enterprise, 'Approved Experiences', which will serve an even broader market. Wilson and Mensah have developed a mobile application – a tech-oriented product that further streamlines the luxury travel booking experience. Their vision was to enable subscribing clients to rent a villa, a yacht, a luxury vehicle, and more – an entire vacation – all using the Approved Experiences mobile app.
In the past, Wilson explained, people had to contact a representative, who then contacted the asset owners, and everyone had to wait while the details were worked out. When version 3 of the proprietary AI-backed infrastructure goes online, clients from myriad walks of life will be able to book an entire trip using the app, saving time and trouble for both travelers and vendors.
But that’s just the tip of the iceberg.
The app, which will at first be available via the Apple App store, essentially becomes a 24/7 concierge and personal assistant that can make dinner and airline reservations, arrange tee times at high-end golf courses, and provide other specialized services.
Approved Experiences has also created a proprietary news feed for its clients that will provide content ranging from travel news to politics, sports, and other topics of interest. Like-minded clients will be able to share their experiences with one another, as Wilson and Mensah have envisioned developing a virtual social club for their growing community of luxury travelers.
Not satisfied just with serving the top-end luxury travelers, Wilson and Mensah are further opening access to empty leg charters and joint charters that Approved Experiences members can secure at significantly lower prices.
Just as with the trucking industry, many charters 'dead end' at one location and either lie idle or return to home base empty. In either case, that costs money. Filling those empty legs with willing customers helps offset those costs and also builds relationships that can become long-term.
Similarly, like-minded individuals planning on traveling to the same destination can save money by traveling together, say, on a private jet with room for up to a baker’s dozen travelers rather than just one or two.
The rationale, says Wilson, is that while luxury comes at a cost, he wants to provide more people with access to it.
The typical charter for a 12-passenger aircraft from New York City to Miami is about $30,000 to $35,000, while a single first-class commercial ticket might cost approximately $3,000 - $4,000. So, with just 10 passengers, the charter is competitive with first-class commercial flights, but provides all the extra benefits and comforts.
Enrolling multiple passengers on charters also addresses the shortage of aircraft and available pilots, especially during peak seasons for chartered travel. In the real world, these shortages lead to pricing spikes that can be mitigated via joint bookings.
When asked about the uproar against the fuels used by private jets, Wilson relayed that Approved Jets is already earmarking funds to be allocated toward research & development with hydrotreated vegetable oil as an alternative fuel source. 'HVO', which repurposes a waste product into a fuel source, is not yet ready for prime time but could become a valuable tool for emissions reductions.
The advent of “fly-sharing” is also very high on the priority list for the team at Approved Jets and Approved Experiences. It simply means fewer airplanes would be taking the same number of passengers to high-profile destinations, which saves passengers money and simultaneously lessens the emissions of harmful substances into the atmosphere.
What’s next for Wilson and Mensah and their twin companies? Wilson is looking to forge partnerships with established brands, broadening the base of clients, and further streamlining the travel experience and making it even more enjoyable. In sum, as he puts it, "...creating a world of opportunity at one’s fingertips".
Wilson may be proudest of the fact that, “We used our own money to start this business, so we don’t have any investors, and to be honest, private aviation is an industry where there are high barriers to entry.”
