Are you about writing a drone photography business plan? If YES, here is a sample drone photography business plan financial projection, cost, budget & forecast suitable for investors.
- Executive Summary
- Market Analysis
- SWOT Analysis
- Financial Projection
- Marketing Plan
- Marketing ideas & Strategies
Our Startup Budget and Expenditure
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a photo booth business; it might differ in other countries due to the value of their money.
When it comes to starting an aerial drone photography business the major areas that you look towards spending the bulk of your cash is in the purchase of standard aerial drones with excellent cameras and of course renting or leasing well located facilities. Aside from that, you are not expected to spend much except for paying of your employees and the purchase of supplies.
This is the key areas where we will spend our start – up capital;
- The Total Fee for Registering the Business in the United States – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of the business in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- Cost for hiring Business Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
- Cost for the facility and remodeling (construction of racks and shelves) – $70,000.
- The cost for the purchase of aerial drones, cameras and accessories (a 3D Robotics’ Iris or DJI’s Phantom series, GoPro Hero3 Black Edition, built-in Wi-Fi for downloading your footage and maximum compatibility with OEM and third-party accessories, a video transmitter, such as the Immersion RC 5.8 GHz 600mw, which greatly increases the range of a 5.8GHz link, and then you can pair it with a Duo5800 or Uno5800 receiver on the ground to get noise-free video.) – $150,000
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
- The cost for start-up inventory (stocking with printing and photography supplies) – $100,000
- Cost for store equipment (cash register, security, ventilation, signage) – $13,750
- Cost of purchase and installation of CCTVs: – $10,000
- The cost for the purchase of furniture and gadgets for the office (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $80,000.
- The cost of Launching a Website: $600
- The cost for our opening party: $7,000
- Miscellaneous: $10,000
We would need an estimate of $400,000 to successfully set up our aerial drone photography business in Bay Orleans, Massachusetts. Please note that this amount includes the salaries of all the staff for the first month of operation.
A Sample Drone Photography Business Plan Financial Projection
- Sources of Income
Wide – Spread Pictures® Aerial Drone Photography Company is established with the aim of maximizing profits in the photography / aerial drone photography industry and we are going to go all the way to ensure that we do all it takes to offer our services and products to a wide range of customers.
Wide – Spread Pictures® Aerial Drone Photography Company will generate income by offering the following services and products;
- Phase I Environmental Site Assessments for property analysis
- Create orthophotos, alternatively known as orthophotomaps (Orthophotos are commonly used in geographic information systems)
- Cartography services particularly in photogrammetric surveys, which are often the basis for topographic maps, land-use planning, archaeology, movie production, environmental studies, power line inspection, surveillance, commercial advertising, conveyancing, and artistic projects
- Other related aerial drone photography advisory and consulting services.
One thing is certain; there would always be corporate organizations, businesses and government agencies in Bay – Orleans, Massachusetts and in the United States of America who would always need the services of aerial drone photography companies for the various purposes.
We are well positioned to take on the available market in Bay – Orleans, Massachusetts and in the United States and Canada. We are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Bay – Orleans, Massachusetts to other cities in the United States and Canada where we intend marketing our services.
We have been able to critically examine the aerial drone photography / photography industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Bay – Orleans, Massachusetts.
Below is the sales projection for Wide – Spread Pictures® Aerial Drone Photography Company, it is based on the location of our business and the wide range of products and services that we will be offering;
- First Fiscal Year-: $100,000
- Second Fiscal Year-: $250,000
- Third Fiscal Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.