USA 88% on my Part 107 now what?

Ed107 · May 16, 2018

Looking to start my own business. What is the most profitable way to go? I live in a big city. 20k to invest.

The Editor · May 17, 2018

Moved to correct section

More details would be advantageous.....

So far we know you....

Have a desire to establish your own business
Live in a big city
Have 20,000 (somethings to invest)

Perhaps using search on the forum will assist?
Starting a drone business: should be required viewing
What is the next level: Advancing drone business

licensed pilot · May 17, 2018

These types of postings always remind me of this story...
"A young pedestrian on NYC's 57th Street sees a musician getting out of a cab and asks, “How do you get to Carnegie Hall?” Without pause, the artist replies wearily, “Practice, my son, practice.”

Ed107 · May 17, 2018

Thank you . I guess the answer I am looking for is what is the most profitable way to go? Realastate Photography, Mapping, Roof reports, Lidar mapping for Construction Companies, Tower inspections???? So many options?

licensed pilot · May 17, 2018

There is no way to answer that question. If there was one "most profitable" way to go we would all be doing it.
It depends on your expertise in business, in UAV operations, in marketing, in the area you are in (cant charge the same rates in Hicksville as in New York City) , the demand for aerial imaging, and how long will you stay with it before you see a profit over expenditures. I began in 2015, wasn't "in the black" until 2017. It takes time. "According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn."

Understand this; don't plan to leave your day job anytime soon. With a little luck and a lot of work building a customer base; you may generate a small part-time income after your few first dry years...Good luck.

Ed107 · May 17, 2018

Thank you. I will just start off with Aerial images 1st then expand from there after I build up a customer base. I passed my part 107 with an 88% last week. I have been flying for a few years now. I'm just so tired of working for other people. I really want to make this happen.

Ed107 · May 17, 2018

I believe what is needed to suceed in this business is to beat out all of the competition a one stop shop with multiple employed Pilots offering every type of Drone service available. There are companies that will come to you to train your staff on all of the 3d mapping, gps surveying, and Lidar system technologies. I have not seen anyone offering these services here in Jacksonville. I have been networking.

RobH2 · May 19, 2018

Generally, companies that offer everything, including the kitchen sink, often don't fare as well as companies that specialize and offer a handful of services very, very well. I'd say start off by doing anything and everything you can find to fly. You'll naturally gravitate to several of them that you enjoy and that are generating good cash flow. Once you've found those several services market them like crazy and be the best at them. Companies that specialize and provide better service than the competition generally can charge higher fees. Companies that are the jack of all trades generally grovel in the pit with everyone else seeing who can be the cheapest. Why fly 20 hours a week for $15/hr when you can fly 10 hours a week for $125/hr? You do the math.

Don't hire staff until the workflow requires it. As long as you can do all the jobs you don't need staff. It will take time to grow the business so be patient and be diligent.

Of course, if someone comes to you with a mission that is not your primary kind of job, do fly it if the money is fair and you need the work. That way you still are offering every kind of service available, but don't market yourself that way. Find the need and market towards it.

It will be easy for you to say, "the heck with it, those guys don't know what they are talking about, I'm going to offer everything and make tons of cash." Try everything at first. But, I encourage you to find what you are best at and market that. You'll enjoy it more, you'll be a more proficient expert at it, and it the long run you'll make better money.

Ed107 · May 19, 2018

RobH2 said:
Generally, companies that offer everything, including the kitchen sink, often don't fare as well as companies that specialize and offer a handful of services very, very well. I'd say start off by doing anything and everything you can find to fly. You'll naturally gravitate to several of them that you enjoy and that are generating good cash flow. Once you've found those several services market them like crazy and be the best at them. Companies that specialize and provide better service than the competition generally can charge higher fees. Companies that are the jack of all trades generally grovel in the pit with everyone else seeing who can be the cheapest. Why fly 20 hours a week for $15/hr when you can fly 10 hours a week for $125/hr? You do the math.

Don't hire staff until the workflow requires it. As long as you can do all the jobs you don't need staff. It will take time to grow the business so be patient and be diligent.

Of course, if someone comes to you with a mission that is not your primary kind of job, do fly it if the money is fair and you need the work. That way you still are offering every kind of service available, but don't market yourself that way. Find the need and market towards it.

It will be easy for you to say, "the heck with it, those guys don't know what they are talking about, I'm going to offer everything and make tons of cash." Try everything at first. But, I encourage you to find what you are best at and market that. You'll enjoy it more, you'll be a more proficient expert at it, and it the long run you'll make better money.

I see what you are saying and trust me I have done alot of studying on this. I will have a very significant initial investment. We just hired a new Realator today. Here is what we are looking at. We own this free and clear.

Ed107 · May 19, 2018

Ed107 said:
I see what you are saying and trust me I have done alot of studying on this. I will have a very significant initial investment. We just hired a new Realator today. Here is what we are looking at. We own this free and clear.

Ed107 · May 19, 2018

I'd say that's a great start.

Ed107 · May 19, 2018

I can carry part time salary for a year + no problem with 4 or more employees

RobH2 · May 19, 2018

Good luck with your adventure. I started my one-man business (it's not drone related) 30-years ago and am still going strong. There have been a lot of ups and downs but I survived. I hope you get off the ground (pun intended) quickly and fly high.

Keep us updated. We all love a good success story.

Ed107 · May 19, 2018

If anyone here is looking to get out of their 9 to 5 please text or call me Ed Mills Jacksinville FL 904-426-2968 I am Part 107 Certified and will have 3 mil+ Liability Insurance a great website domain already purchased: droneservicesjax.com.

John H. · May 21, 2018

Good for you Ed,
I’m looking for the best method or materials to study for the part 207 certificate. But, what type of drone are you operating your business with?
John

AIR-EYE · May 21, 2018

I have the inspire 1 pro. 5 zemuse cam. Phantom 3 pro, mavic pro , mavic air.. and haven't made much here in Nashville. Everybodys kids got one lol.. I have the 107 they don't. Folks don't want to pay anything.. its ridiculous. I'm thankful I have another business that has supported me and my family for 21 yrs. I may get lucky one day.. I'll keep plugging along.

John H. · May 21, 2018

What method or material did you use to prepare for the 107 certificate?

Ed107 · May 21, 2018

John H. said:
Good for you Ed,
I’m looking for the best method or materials to study for the part 207 certificate. But, what type of drone are you operating your business with?
John

Great info on this link:
Also a great book called Remote Pilot on Google Play Books.
Just have a Phantom 3 now but upgrading to an Inspire 2 after our house sells. Make sure you have your sectional charts and Metars /tafs down pact! Alot of great info on you tube.

Ed107 · May 21, 2018

Ed107 said:
Great info on this link:

To view this content we will need your consent to set third party cookies.
For more detailed information, see our cookies page.

Also a great book called Remote Pilot on Google Play Books.
Just have a Phantom 3 now but upgrading to an Inspire 2 after our house sells. Make sure you have your sectional charts and Metars /tafs down pact! Alot of great info on you tube.

Also this is a great site:
https://3dr.com/faa/drone-practice-tests/

After 2.5 weeks of studying and Reading the Remote Pilot Book on Google playbook about 6 times. I got an 87% on the 60 question practice test above Wich was only 1 point off from my actual "Real test" score. There are lots of you tube videos on Weather, Metars/Tafs and sectional charts. Another thing make sure you know your weather. Stable air mass as upossed to unstable, Cloud types and visability during certain weather conditions. It's not an easy test you really need to put some time in.

licensed pilot · May 21, 2018

Agree. Judging by the number of airspace questions by 107 "pilots" in some of these forums, the exam is not challenging enough. Too many are still trying to get by with easy as pie apps that are incomplete and defective when dealing with controlled airspace. Real pilots must learn how to read Sectional charts.