For the drone enthusiasts who want to turn their hobby into a lucrative business opportunity, now is the best time to launch a drone-based business!
Most of these people, however, do not know how and where to begin. There are fun aspects to it such as picking a name and designing a logo which do not really need to follow a strict guideline.
The purpose of this guide, however, is to highlight the important aspects that will help any drone business succeed in this fast-growing industry.
This article will provide all the necessary information and tips for setting up a drone business according to the Part 107 FAA drone rules which will help drone enthusiasts to obtain a Part 107 license, FAA rules and regulations, and drone insurance.
It’s going to talk about how to start a drone business to see if it really is the best business model for you.
Towards the end of this article you’ll find answers for some of the most frequently asked questions on how to start a drone business…
The drone market has seen rapid growth in recent years. Drones are now being integrated into the daily operations of the majority of industries today.
Aeronautical experts saw the potential for entrepreneurial growth in the industry after Part 107 FAA Drone Rules made it more viable.
Many entrepreneurs since then took the initiative to establish a drone business, so they could simultaneously expand with the UAS community.
A recent report indicates that the drone industry is set to grow from $17.82 billion to $48.88 billion by 2023. MarketsandMarkets claims that the drone industry growth is due to technological advancements, venture capital increases, and the rising demand for drone data.
An economic impact report on drone integration in America has been published by the Association for Unmanned Vehicle Systems International which details all economic benefits, including the impact that each U.S. State will experience. The following are the most important economic changes:
It is not easy to start a drone company. The following are the main guidelines involved in starting a drone business:
Passing the Part 107 exam is the first step in setting up a drone business. No one cannot legally fly a drone in any commercial use without a Part 107 certificate. These are the steps to obtain the Part 107 certificate.
This is where the most crucial decisions are made in order to build a successful drone company. The following research and decisions can help you launch a profitable drone business:
How can a drone business owner find potential customers? This step will help any small drone business owner find the right customers through some effective marketing efforts:
How does a drone company actually work? This is where important business decisions are made like staff recruitment or website design outsourcing or lead generation program implementation. Take a look at the following components:
Accidents do happen. A Part 107 certified pilot who has training is no exception. Even someone who has a proper certification can still crash a drone or suffer a mishap while flying.
Interference from radio towers, unpredictable weather conditions, and UAV failure are all possible causes for a drone to crash.
And it is for this reason that drone insurance is crucial. The following are the two types of drone insurance:
Verifly and Global Aerospace are two of the most recommended providers. Apart from insurance, an aspiring drone business owner should also consider these things:
As you can see, that’s a lot of stressful business essentials to consider.
Wouldn’t you prefer a business model that could offer you “mail box” money?
Part 107 FAA drone rules require that all flights in any drone business meet these criteria:
No drone should operate if these rules are not met – unless a a Part 107 waiver is obtained from the FAA.
Waivers for flying drones at night, or flying multiple drones, or even flying in restricted airspace can be requested. The FAA must receive a waiver request at least 90 days before the operation is to be started.
Here are some popular drone business ideas to help you start a drone company:
Starting a drone company can be a daunting task. Below are some of the challenges and obstacles that a drone service provider might encounter, together with some tips from the experts:
Due to the fact that most commercial drone pilots are freelance, the salary can vary quite a lot. Hourly rates can also vary depending on the industry and project. According to Marketwatch, thermography may yield better results wherein a drone pilot could earn up to $200,000 annually due to his thermography certification.
PayScale lists drone pilots’ hourly rates at $24.18, although they range from $17.75 to $78.49 for those with the highest earnings. Even though it’s difficult to estimate potential earnings of a drone pilot, there is the possibility of making hundreds of thousands of dollars each year which means taking on a lot of projects.
You see, the unfortunate fact about commercial drone pilots is that you only get paid for your time. You can never leverage that…
Thankfully, not all hope is lost.
Starting a drone business is hard work. One must be constantly improving skills, in addition to the usual challenges of finding clients and selling services.
Drone flying is a highly technical and competitive industry where there is a lot of other pilots who may be better than you. It is not enough to be proficient at flying your drone.
Although this guide is quite lengthy, it only covers the basics of starting a drone business. Some can still be unsure where to start. The best thing to do is to simply buy a drone and fly it around and have a feel.
Commercial drone piloting is an attractive and profitable career option. However, one would need to spend some money on the training courses, equipment, and insurance required to become a drone pilot – not to mention the startup costs involved.
The field is still in its infancy and offers many opportunities. The majority of industry experts believe that drone services will continue to grow past 2025. This means the outlook of this business is looking good for those who want to pursue it.
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, it’s all digital.
With digital real estate, you have the opportunity to completely walk away from your 9-5 job!
Sound too good to be true?
Of course it does!
But it isn’t…in fact, business owners wish they had this skill!
What exactly is the skill?
Well, basically you are acting as a conduit for small business to increase their bottom line.
What we mean is…
You are helping these businesses grow!
All you have to do is build and rank a website and forward certain jobs off to a business owner in town, you could even email it to them!
This works for literally any service based business… ie: tree service, plumbing, towing, etc.
Simple, after you forward the jobs off to a business owner and he makes closes the deal, you simply ask to agree to a WIN-WIN arrangement.
A fair price to charge per lead, depending on the industry is 10-20%… let’s just use the tree service industry for example and go by worst case scenario.
Let’s say you build and rank the site and only 20 jobs a month come in. The average tree service job is anywhere from $500-$2000!
That means at bare minimum you have an asset worth $1000 a month!
See why they call it digital real estate now?
That’s a rent payment.
The great thing is how easy it is to scale. You don’t have to answer the phone…all you have to do is get the phone to ring.
Truly passive income!
The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.
You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.
Once the training program is completed you will also have access to a Facebook group where you can ask questions and be in a community with others on the same journey as you.
Digital real estate allows you to have passive income with most of your day being spent OUT of the brick and mortar landscape.
Now, we know you probably have tons of questions…