If you are looking for a sample drone business plan template, here is a guide for starting a drone service company and free feasibility study to use.
Unmanned Aerial Vehicles otherwise known as drones have found a lot of uses. These include security, photography, movies, music and more. Several businesses have sprung up around this invention.
Interested in small drone business planning tips? If YES, here is a practical guide on drone business.
How to Start a Drone Manufacturing and Photography Business
Starting any business of worth requires careful planning and patience. A drone business is not left out of this. There has been an increasing interest among entrepreneurs in this sector. More people are now finding a drone business more attractive, hence their willingness to join. However, a drone business comes with its own challenges. There are several factors to consider during the initial planning stages, which is why this article has been written. Necessary tips and guidelines are given, which are essential to the success of the business venture.
Industries Where Drone Technology Has Found Relevance
Drone technology has today found a lot of usage in different industries. Some of these businesses include photography, the adoption of the technology by security surveillance companies, the movie industry, for survey purposes and a wide range of other areas where the technology has become relevant.
Consider the Startup Cost
What do you need to start a drone business? It is very important that you give serious thought to how much is required to start a drone business. Jumping into the business without careful financial analysis will most likely result in a failed business. A lot of businesses have become cash strapped (being underfunded) due to this mistakes. By carefully studying what it takes to set up a drone business, you are laying a solid foundation for your business.
Hiring the services of a business strategist/consultant is very important during the planning stages. By carrying out a cash flow analysis, it clearly exposes areas that need attention and helps in maximizing the profit potential of the business.
Drones have found a lot of applications both for private and public usage. Before now, private ownership of drones was a rare occurrence, but due to the versatility of drone machines, it has found usage in several industries. Today, drone technology apart from being used by the military establishment has found relevance and is widely used for business. News agencies, the movie industry, research organizations and several other industries have all adopted drone technology in promoting their businesses.
Knowing where your interest lies is important to the success of your drone business. Carefully choosing your most preferred drone business from the long list of sectors drones have found application can mean the difference between success and failure.
The Target Market
The target market is where the bulk of patronage for your services will come from. For a drone business to be effective, it is necessary that the target market should be clearly identified. Knowing your target market also comes with knowing your competition. Taking advantage of your target market goes together with effective marketing. How to Start a drone business requires that an elaborate marketing strategy is developed. This is targeted at increasing sales and patronage from clients.
To take advantage of your target market, consider putting in place a marketing department that will effectively plan on the marketing strategies to use. The quality of workforce in a business’ marketing department will determine the success of the marketing campaign, and by extension, the patronage of the business.
Identifying Your Competition
There are several other drone businesses that will compete with yours, which means that you need an edge over them to gain a fair share of the market. Providing innovative services will allow your drone business stay afloat, and be relevant over other competing drone businesses. Knowing your competitors weakness and exploiting these weaknesses can significantly increase your advantage over that of your competitors.
Working Within Regulatory Frameworks
There are established regulations a drone company or business must abide by. Owning a drone business requires the owner to fully abide by this regulatory framework, as failure to do so can result in sanctions against the business which is not good for any business venture. It is important that you study in detail any set guideline for drone business in order to avoid any disruptions to business.
Regulatory guidelines usually include issues like licensing and other related requirements. Fully abiding by these requirements is very important for anyone thinking of starting a drone business.
Purchase of Equipment
To start a drone business, all the required equipment need to be put in place. By having every equipment in place, the drone business has a higher likelihood of succeeding than not. The cost of these equipment should be factored into the startup costs. It is important that the quality of these equipment should be considered. Higher quality equipment significantly increase a drone business’ edge over competition.
Every business needs a form of backup for times of uncertainty or likely challenges that might occur. An insurance cover provides all the needed security during these trying times. It is important that the insurance cover should be all encompassing, covering every area of the business. Also, the insurance should be extended to the clients as it acts as a confidence booster for new clients. This convinces new clients that they are in safe hands should any eventualities occur.
As seen by the above information, starting a drone business requires careful planning and strategizing. Although quite challenging especially during its teething period (challenges faced during its early stages), it can be very rewarding if perseverance and diligence are applied.
AERIAL DRONE PHOTOGRAPHY BUSINESS PLAN SAMPLE
If you are looking for a sample drone photography business plan template, here is a guide for starting an aerial photography business.
Setting up a drone photography business is a great business move. This is especially nice if you are a very good photographer. The society we live in today is one that obviously can’t do without professionally taken pictures. This makes the business even more viable.
So, as long as people and events exist, there will always be a huge market for drone photography business.
If you are looking to start a drone photography business, I will assume you already know the process and already have plans to write a business plan. Well, to save you the stress of searching for an appropriate business plan, we have taken out time to write a drone photography business plan sample. This will help you come up with a great business plan which is needed to start your business.
BUSINESS NAME: Skyeline Drone Photography Company
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Financial Plan
- Competitive Advantage
Skyline drone Photography Company is owned by Theresa Wilson. It is a photography company that is based in Atlanta. At skyeline drone photography, we have the license that is needed to provide photography for lots of different purposes.
Some of the major purposes for drone photography are tourism, research, and education. Drone photography business requires a lot in terms of capital. This is however not an issue for us because we have been able to take care of this by borrowing from friends, family and the bank.
At Skyline drone Photography Company, we do not just work with people without knowing what purpose they intend to use their pictures for. We do this for security reasons and as a result of this, we have made arrangements with security agencies in the country to help us with this.
Our Products and Services
Skyeline drone Photography Company is in the photography business to provide high resolution pictures and quality photography services to clients both in and out of the United States. From our head office in Atlanta, we will offer our services to people in other parts of the United States.
Our vision at skyline drone Photography Company is to meet the photography needs of our clients as well as make good profits.
Our aim at skyeline drone photography is to become one of the top 20 most recognized drone photography companies in the United States. We aim to make this happen by making available top quality services to our numerous clients. We know it will take a lot of effort on our part if we must achieve this and rapidly also.
As a result of this we are taking advantage of the latest technology in the drone photography industry. One other thing we intend to do to put our business on the success map is to franchise it in 5 years’ time. This we believe will help our brand spread and become a force to be reckoned with in the United States.
The business structure of every business is a strong determinant of the success or failure of the business. As a result of this, we will pay special attention to the way our drone photography business is structured. To get the best structure possible, we will hire only those that meet our standards. We will also create a conducive environment for our workers
The drone photography business requires a high level of creativity as well as commitment from startups. Startups in this business also need good managerial as well as communication skills to make it in this business.
As a result of advancements in technology, the drone photography business has become very profitable. In this business are ample opportunities which when taken advantage of will lead to lots of good profit.
Not every form of photography needs drones. However, there are some forms of photography that only end up well with the use of drones. Putting this into consideration, with our drone photography business, we are targeting government agencies and corporate organizations. At skyline drone Photography Company, our target market include
- Movie Producers
- Building Surveyors
- Government Agencies
- Agricultural Businesses.
Sales and Marketing Strategy
We will make it a habit to make our brochures available to those we want to offer our services. Topping this list are movie producers, agricultural businesses, building surveyors and government agencies.
The following are ways that we intend to market our products.
- Make handbills about our firm and the services we offer available in areas where people can easily see them. We will be dropping them in hospitals, banks and places of worship.
- Adverts on forums and blogs
- Create a strong online presence by building a website and creating a Facebook page.
- We will join drone photography groups and clubs in our neighborhood. This will help us network and also get to know the latest trends in the drone photography business
- Offer cheap services to our first set of clients as well as our regular clients
- Increase our range by making sure our staff put on branded t-shirts with our logo on them.
- Provide a conducive working environment for our employees to make them more productive
Source of Startup Capital
We need a total amount of $100,000 to get this business running. At skyeline drone Photography Company, we intend to raise money for running our business from three major sources. They include from our personal savings, from friends and families and bank loans.
The field of drone photography requires a very high level of expertise. It is not a job that can be handled by just anyone. This reality has greatly reduced the competition that exists in this business. However, it does not completely eliminate it.
To stand out from other companies that are offering the same service, we will make sure that our business is located close to our clients. Also, we will employ professionals that are not only skillful but also have good communication skills and will treat customers with utmost respect.
This is a business plan for a drone photography business. It is a business that is based in Atlanta and owned by Theresa Wilson. This business will be setup with $100,000 which will be funded from our savings, and bank loans.
COMMERCIAL DRONE BUSINESS PLAN SAMPLE
We have written this drone business plan sample to help people interested in this sector of business. Our targets are specifically those with limited knowledge on how to write a good plan for their business.
We will always advise you to find out as much as you can about the business you are going into. The feasibility study is the method through which you will achieve this.
Armed with this knowledge, reading this sample will enable you articulate your findings into a solid plan of action.
Birds Eye Inc. is a registered drone photography business in to be located in Montgomery, Alabama. We specialize in the provision of High Definition aerial photography services to a variety of clients. These will cover environmental assessment studies, surveillance, power line inspections, commercial ads and much more. Although our business is new, we have been involved in the drone industry for over a decade.
Birds Eye’s proprietor James Scott has been involved in the running, maintenance and administration of major drone photography businesses in New York, California and Nevada. He is bringing his wealth of experience to set up a world class company that will provide services for both domestic and international clients.
- Products and Services
Because there is an increasing demand for highly professional drone photography services, our company is poised to provide these and more. Our services will include the provision of power line inspections, the provision of high definition commercial ads, environmental assessment services and surveillance. We will also provide training to drone technicians as well as advisory services.
- Vision Statement
We are in an industry that is highly regulated. However, we are backed by the advantage of experience. Hence, our vision is to establish a highly professional drone photography business. We seek to break into the top 10 bracket of the best drone photography services in America within 10 years.
- Mission Statement
At Birds Eye Inc. we have a mission to serve an industry driven by innovation by providing excellent services. All clients we will be working with will experience unbeatable drone photography services. Within the first 3 years of our take off, we seek to explore other drone business avenues. This will largely be determined by demand.
Drone business is capital intensive. The amount needed depends on the specific area of specialization. For our photography business, we need the sum of $1,000.000.00. This will be raise from loans which is already in the application stage. A monthly interest rate of 3% is being worked on, with the principal to be paid in 10 years.
- SWOT Analysis
A measurement of our competitiveness and vulnerabilities has been worked on by a reputable business solutions firm. We have identified areas we have the most advantage as well as those which we will need to work more on as well as plan ahead of time for. The results show the following;
Our strength is bolstered by the fact that our proprietor and management staffs have a significant measure of experience in the drone business environment. We are consolidating our advantage to run a highly efficient drone photography business.
Weakness is a constant feature for every business. However, identifying them and handling them effectively will help overcome them. Our weakness is in our size. Major companies needing the services of drone businesses prefer to work with established and well known brands. As a new business, we are not yet in the top league. This will limit the type of clients we will have initially.
There are increasing numbers of economic sectors needing the services of drone photography businesses. With several businesses and individuals needing our services, we have a unique opportunity to provide drone photography services that are second to none. We are also exploring possible areas of drone application that will enable us expand our services in the near future.
Threats to our drone business arise mainly from unfavorable policies that may disrupt or limit our operations. The aviation industry for good reason has limited the altitude range for drone operations. Unstable policies may lead to a change regarding other areas of operations.
Also, the increasing level of terrorist threats is bad for business. Terrorists are likely to use drones for the purpose of causing harm. This has led to stringent rules being implemented to regulate the industry. Although these are for safety reasons, it has created several hurdles to doing business. These are in the form of bureaucratic bottlenecks.
- Sales Projection
How much sales do we expect to attract over the next three years? Using the current demand for drone photography services, we have arrived at a likely projection. This has been shown by the chart below;
- First Financial Year $80,000.00
- Second Financial Year $300,000.00
- Third Financial Year $1,000,000.00
- Competitive Advantage
Success in this industry depends on the edge we have over our competitors. Although we are a small drone business, we have the advantage of having a team of seasoned professionals who have been involved in every level of management with major drone services companies. This will be used to our advantage in positioning our business for success.
Also, our connections are vast. We have succeeded in building our reputation with a rich collection contacts. These will be used in promoting our business as well as attracting patronage.
- Sales and Marketing Strategy
We have set up a world-class marketing department that will coordinate our marketing campaigns. These campaigns will focus on the most effective measures such as newspaper ads, social media promotion of our business, and taking our business to the doorsteps of potential clients.
- Target Market
Have identified our target market, and these consist of clients who frequently need the types of services we offer. Some of these include corporate clients, private/individual clients, surveyors, film and music makers, and agencies of government. To widen our reach, we are understudying other possible areas we may likely be involved in.
This drone business plan sample has provided you with a good tool to use when writing your plan. It skips to provide you with a summary of what is expected. Findings you make from your feasibility will help you expand on these areas and more.