New Again Member Needs Business Help

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Apr 22, 2018
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Hi Everyone,,,I used to be a member here but haven't been on in over a year. I am back under a new name. I remember always getting good advice here. I am hoping that someone with more experience at the "Business" side of the drone business could advise me.

I have been Part 107 Licensed since the day it went active on 29 Aug 16. I so far have only worked in real estate video. I have added interior video and some other new features to my list of services. I have not yet been able to get enough business to be doing this full time. But I have a long list of satisfied clients, do work for many of the biggest names in real estate in my area. It really looks like my business is about to finally spring forward. But unfortunately, my gear is old and worn, and I'm in no financial position to replace it. My drone and batteries are getting old and I don't have a back-up drone., my computer I use for editing wasn't prime for this work to begin with and wants to crash anytime. I am on the verge of everything breaking at once, one crash away from "out of business," right when it looks like things are going to FINALLY be going good.

Part 2 of my dilemma...A client I did one job for last year was VERY impressed, and now wants to start up a new Aerial business with me. He does not want to be "part owner" or anything in my business. This would be a separate entity altogether, leaving me autonomy with my current business. Describes him being the money side of it and get's 20% for that and sounds willing to buy needed equipment. He is a at least somewhat wealthy, established businessman and lists all of the contacts he has in many industries which he could use to get work. He is looking at doing a few things that my business does not do, but much of what he is looking to get into would, technically, put that business in competition with my current business.

I don't know exactly what to do here. I would not say that I am opposed to starting a whole new Aerial business with someone else and maybe abandon my current one. But that has branding and name recognition I have worked close to 2 years on and I feel kind of squeamish on giving it up. Another part of me feels like I have worked hard at this with some success, but not the success I am looking for. And maybe this could be the opportunity to go into that next level. Should I just go with his proposal and take my existing clients there and start over? Do I co-own a competing business with him and try to keep one doing some work and one doing another?

Anyone have any thoughts on this?
 
Welcome BACK to the forum.

If you've been in business for 2 years now and you're not able to buy new equipment you're not really in business. I don't mean to sound cruel but at the 2 year mark you should have everything paid for and either making $$ or buying new equipment (or both). It honestly sounds like you have a hobby that has brought in a few dollars here and there. This type of business needs new equipment fairly often to "stay current" and you MUST have some type of backup system. Remember this when talking about business drones (or business anything):

1 drone is NONE.... 2 Drones is one . . .

What are the "terms" with your new business partner? If the business isn't making enough to pay his 20% how long will he keep funding it?

I don't know that I'd invest a lot in the business if I had already proven the business model doesn't work in my area. Sometimes you end up digging a bigger hole for yourself. Don't let your desire to be successful cloud good judgement. It's easy to "hope & dream" yourself into poverty. Be will to do something proven and/or different and let go of old ways.

Good luck and safe flights :)
 
Welcome BACK to the forum.

If you've been in business for 2 years now and you're not able to buy new equipment you're not really in business. I don't mean to sound cruel but at the 2 year mark you should have everything paid for and either making $$ or buying new equipment (or both). It honestly sounds like you have a hobby that has brought in a few dollars here and there. This type of business needs new equipment fairly often to "stay current" and you MUST have some type of backup system. Remember this when talking about business drones (or business anything):

1 drone is NONE.... 2 Drones is one . . .

What are the "terms" with your new business partner? If the business isn't making enough to pay his 20% how long will he keep funding it?

I don't know that I'd invest a lot in the business if I had already proven the business model doesn't work in my area. Sometimes you end up digging a bigger hole for yourself. Don't let your desire to be successful cloud good judgement. It's easy to "hope & dream" yourself into poverty. Be will to do something proven and/or different and let go of old ways.

Good luck and safe flights :)


I'm going to beg to differ on your opinion here. Maybe you read wrong into my post or I didn't explain correctly. I'm not a hobbyist with a drone that's done a couple shoots for a few people. Again, if you clearly read my post I have an established and growing client base that has been getting larger and better as I've gone along. I'm actually getting clients who left other operators that have been doing this since the 333 days, long before I got in the game, and came to me because my work and my customer service is better. I have always known the fact that it takes it least a year, and sometimes more, before a business is really up and running and making good profits. Years ago I used to sell real estate and it took about 15 months before I could say "hey,,,this is actually paying the bills now." I have been at this for a year and a half. All of the equipment I have is bought and paid for, my equipment issue is that it's aging. My business is not some hack hobbyist who is griping because he doesn't have start-up funds. I am a new business that is rapidly growing and therefore have growing pains that I am questioning how to address. You either totally misunderstood my post or are just one of those who is going to say that anyone's business who is not on the same level or set up like yours is a hack. I don't know which.
 
I dont think bigal wasn't trying to get u upset in anyway. He is just stating his opinion. Anyway I would get with this business man and find out details on how u 2 can be successful together. Even if u are with the guy for 5 yrs maybe branch off by yourself, or buy him/company....out right when u have sufficient savings. Then revive your original business...u have alot to think about good luck!
 
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@EVDS Gary I'm pretty sure if you'll take some time to read some of my posts you'll understand that I am here to help and volunteer many hours to our community trying to help and mentor to the best of my ability. I'm not calling anyone a hack nor was I attacking you personally. I merely look at it from a different point of view and have no emotion tied to your company so this gives me a totally different perspective. That doesn't mean I'm right but it also doesn't mean I'm wrong in my "assumptions".

I did not misunderstand your post I merely gave you my 2-cents on it. Take it or leave it but I can tell you that after 2 years you should be in a much different position than you are from a business stand point.

If your equipment is "aging out" after just 18 months of use then you should be rolling in the $$. Our business started early on with other brands of sUAS. Back in late 2014 we bought our DJI equipment and made the change to DJI across the board. We sometimes fly over 6 hours in a single day (on a weekend after a bad weather week) and still flew with the same equipment (Phantom3 Pro as primary and a Standard as back-up) up until last fall when we added a couple more to our fleet. My P3P has over 123 flight hours on it and it's still going strong. It's paid for itself many many times over.

Something just doesn't add up and it's a great time to figure out why the business isn't profitable or find out what your potential investor requires in the area of TERMS. Very few people "invest" in a company unless they intend to (EXPECT) see a very good ROI.
 
I'm going to beg to differ on your opinion here. Maybe you read wrong into my post or I didn't explain correctly. I'm not a hobbyist with a drone that's done a couple shoots for a few people. Again, if you clearly read my post I have an established and growing client base that has been getting larger and better as I've gone along. I'm actually getting clients who left other operators that have been doing this since the 333 days, long before I got in the game, and came to me because my work and my customer service is better. I have always known the fact that it takes it least a year, and sometimes more, before a business is really up and running and making good profits. Years ago I used to sell real estate and it took about 15 months before I could say "hey,,,this is actually paying the bills now." I have been at this for a year and a half. All of the equipment I have is bought and paid for, my equipment issue is that it's aging. My business is not some hack hobbyist who is griping because he doesn't have start-up funds. I am a new business that is rapidly growing and therefore have growing pains that I am questioning how to address. You either totally misunderstood my post or are just one of those who is going to say that anyone's business who is not on the same level or set up like yours is a hack. I don't know which.
You said in your original post that you "have not yet been able to get enough business to be doing this full time." Now you are taking offense at observations and suggestions by an experienced operator? Makes no sense. Which is it?
 

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