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A Brief History of Paramount Business Jets
Richard Zaher started Paramount Business Jets from his apartment in Manhattan, New York. The idea was to start a charter brokerage by being competent and ethical. A charter company that would represent the clients' interests in the marketplace.
Richard moved back to Daytona Beach, FL, and hired over a dozen Embry Riddle students to help him complete the initial research and development phase of the company’s extensive website.
PBJ opened an office in Boca Raton, FL, to cater to the high net-worth individuals and families in the area. The company was also looking for staff with more actual charter experience, which was more difficult to find in Daytona Beach.
The team began to create their own proprietary systems, becoming less dependent on subscription services offered to the majority of brokers. PBJ built a custom online quoting system as well as online private jet tools such as time and distance and airport proximity tools. These innovations and the lack of experienced brokers led Richard to the decision to build the company in such a direction that it would eventually operate online.
PBJ developed the industry's first transparent jet card membership program with two levels – Platinum and Black. Both feature fixed management fees on all flights, concierge credits, and fully transparent invoicing. Although many in the industry say “we are transparent”, PBJ is still the only company that has a jet card that reveals the broker's commission to the client.
After trying again and again to recruit talent with experience to work from traditional bricks and mortar, PBJ developed a custom state-of-the-art CRM system to manage all client trips and paperwork online. This CRM system would allow the company to tap into the vast amount of knowledge and experience of experienced charter brokers who could join the team and work remotely with PBJ.
PBJ became a D&B Platinum Rated Company in 2011. D&B, short for Dun & Bradstreet, is a reputed small-business credit reporting agency. Based on various scores and ratings meant to indicate how credible businesses and their finances are, D&B assesses companies' financial health. The D&B score can be used by business owners, customer, suppliers, and lenders for further business and financial decisions.
Richard Zaher was presented with the Eagle Excellence Award by his alma mater Embry Riddle for his work as the CEO, namely for building PBJ and growing it into one of the most reputable and trusted charter brokerages in the world. After receiving the award, Richard was asked to present a 15-minute speech about what it takes to build a startup to alumni.
After focusing more on the marketing aspect of the business, PBJ begins to make traction and gain more market share. Armed with core values of ethics and competence, the company continues to grow year after year. In 2013, Paramount Business Jets surpassed $5 million in revenue for the first time. Shortly after that, the Leesburg, VA, office was opened.
PBJ was approved as a member of the Air Charter Association of North America following a rigorous vetting process. Shortly after that, Paramount Business Jets was also ranked by the INC 500/5000 as the 2nd fastest growing travel company in the US.
Paramount Business Jets was ranked 409 on the INC 500 list of the fastest growing companies in America. Named a "pioneer of exclusive Transparent Private Jet Charter Pricing", PBJ was recognized as the top private aircraft charter company by Inc. Magazine's 2013 Inc. 500 List of the fastest growing private companies in America. The company's success was demonstrated by a staggering 1,093% growth between the years 2009 and 2012. Paramount Business Jets was also ranked second among the nation’s top 100 Travel and Hospitality companies.
PBJ was ranked by the INC 500/5000 as one of the fastest growing private jet companies in the US for 2 years in a row. Also, PBJ developed a 100-point advisory to provide unparalleled service in every aspect of private jet charter. This detailed checklist included over 100 factors that affect private jet charters worldwide, from crew and equipment as well as weather impact, to the FAA and DOT safety and security requirements.
To celebrate the company’s 10th anniversary, PBJ established a yearly scholarship at Embry Riddle, Richard Zaher's alma mater. The scholarship supports the growth of the next generation of business aviation professionals. “As an industry, we need to keep an eye on that kind of future we are helping to create,” said Richard Zaher. “We need to support young people for our industry to have a more successful future.”
PBJ continues to grow in sales and in the number of staff, as well as reputation and repeat clients. With the continuous investment in the staff, marketing, and development of the company and its culture, 2016 was the first year in which PBJ crossed $10 million in revenue.
Richard Zaher was appointed as VP of the Air Charter Association of North America (ACANA). The Air Charter Association of North America is a community that gathers companies associated with chartering aircraft with the highest standards of ethics, integrity, and professionalism across the globe. As the industry-leading authority in the field of air charter regulation and best practices, ACANA informs, guides, sets, and increases quality standards in the North American private air charter marketplace.
PBJ appointed an in-house safety officer to ensure that all aircraft and crew on all flights exceed the minimum safety guidelines of third-party safety rating companies. From this point on, the company culture includes safety as one of the primary values, and 100% of all client charters at PBJ are checked for safety prior to every flight, every time.
Richard Zaher was invited to the White House by First Lady Michelle Obama for his recognition as someone who contributes to society as well as to celebrate the Persian New Year at the White House with other prominent artists, actors, and successful entrepreneurs.
PBJ continues to reinvest in growing the team, technology, and marketing. After a year of incredible growth, PBJ crossed $15 million in revenue, just one year after exceeding $10 million.
PBJ made its third appearance on the Inc. 5000, based on 2017 revenues of $15.4 million and a cumulative three-year growth rate of 168%.
PBJ launches the world's first open source carbon offset system to help the aviation industry perform offset calculations instantly. For the first time ever in history, the public can calculate their aircraft specific fuel burn instantly and figure out the cost of the offset in as little as 2 minutes, as opposed to 2 to 5 days via other carbon offset companies.
Onward and Upwards! After landing a somewhat turbulent 2020. Paramount Business Jets exceeds 25 million dollars in sales.
Onward and Upwards! Paramount Business Jets exceeds 35 million dollars in sales after one of their most busy years.
PBJ grows 318% in 3 years making the INC5000 list.
