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Drone Business

Discussion in 'Introductions' started by Gary M, Jan 17, 2016.

  1. Gary M

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    Hi everyone. I just joined this forum yesterday. I have been very interested in drones for the past couple of years but have yet to get one. I am finally going to take the leap and get one next month. I think what is interesting me the most is the business potential. I keep hearing about how the whole industry is set to explode and how many opportunities there will be. How many of you are finding work or success in real estate photography, agricultural, construction, surveys, etc? How extremely expensive is liability insurance to acquire? And how hard is the FAA 333 Exemption to acquire?

    I am stuck in a,dead end career and really need to find something else. I have always loved aviation and enjoyed photography. Somehow mixing those together sounds quite interesting. IF it would be something that I can pay some bills with, or even better, become full time.
     
  2. srcg

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    Interested


    Sent from my iPhone using PhantomPilots mobile app
     
  3. KEN2347

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    Out here in AZ it seems to be a good business.......especially with real estate.Drones are being hired at $300-$500 a gig to do aerial shots of homes for sale.Once I get good at flying i'm gonna jump in and make some $$$ myself.
     
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  4. Gary M

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    That's kind of my plan too. I'm going for the P3 Pro and am going to spend as much time on simulator and practice flights in the time that it takes to get my 333 Exemption,,, then see what happens.
     
  5. ScopeTech

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    Exactly what I'm setting up here in Canada; in order to fly commercially I need to hold 100k liability (purchased 2M) and need to file a flight plan with Transport Canada in advance. Once I've had a few flights with no incidents I have the opportunity to get what's called a Standing SFOC so that I can just do what I need to do without filing in advance.
    Lots of positive feedback here in my area, particularly with realtors.
    Just deciding on specific services to offer and price points, then will whip up a snazzy website and then market the $hit out of it!
    Might be handy that I know the owner of one of the largest real estate firms here in my area, with access to over 150 realtors through that one broker alone ;)
     
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  6. ep 1234

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    Location:
    Toronto Canada
    I am in Oshawa?Toronto. Where did you purchase your insurance?
     
  7. ScopeTech

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  8. pautsch

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    Location:
    Cold Lake
    where do you find all of your information for getting a licence to fly commerically?
    i live in cold lake and would like to start up a business
     
  9. BigAl07

    BigAl07 Moderator
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    Gary here are my ideas on your question:

    First I wish I had gotten the P3Advanced because currently NONE of my clients can use 4K and by the time most can I will be on to a whole other platform. I could have spent the extra $$ on more batteries.

    It "can" be a profitable company but you've got to go into it with your eyes open and your wallet ready. First you'll need to become a great pilot as well as be very good at photography, editing, and of course selling yourself. There is a lot more to it than taking the picture and collecting the $$.

    Also I can tell you from first hand experience to go "Legit" with a new business takes a lot more $$$ than I had thought. Do your homework and spend the time researching it. If I were you I would start off writing a detailed Business Plan and be sure to fully develop the SWOT within it. This will allow you to make some intelligent decisions instead of guessing or worse "hoping" your way through it. Also writing a good and detailed business plan can help you to learn your business and might even lead you to modify your path before spending the first penny. They take time and effort but if done correctly it can be worth it's weight in gold. Also if you're planning to get a loan or investors the Business Plan is a very high priority.

    Also keep in your mind that when Part 107 "finally" goes into effect the market will be flooded with "wanna be" Aerial Photographers who want to turn their hobby into a money machine. You really need to research your local market in-depth before jumping in head first at this point in the game.

    Liability - My current policy is for $500k at less than $600/year. I suspect that as more and more insurance companies buy into the Drone Game the prices will come down and I will be increasing my coverage to $1M or $2M later this year depending on premiums at that time.

    If you're a good UAS operator, have an eye for detail and composure, and you are good at marketing yourself you could carve a nice bonus income or even full-time career but it's not going to fall in your lap and start throwing $$$ at you. It's going to take some $$ to get started and stay afloat but if done correctly it can eventually turn into a pretty good business.

    Just do a lot of research and make informed not emotional decisions.

    Good luck and Safe Flying