Are you about starting a drone inspection business? If YES, here is a complete sample drone inspection business plan template & FREE feasibility report. Okay, so we have considered all the requirements for starting a drone inspection business. We also took it further by analyzing and drafting a sample drone inspection marketing plan template backed up by actionable guerrilla marketing ideas for drone inspection companies.
So let’s proceed to the business planning section. One of the many drone related businesses that thrives in the united states and in most parts of the world is drone inspection services.
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
What is a Drone Inspection Business?
A drone inspection services company is any company that provides inspection with the aid of drones for organizations. It is a kind of security related service that works for both private and public clients at an agreed fee.
In the United States of America and in most countries of the world, you would be required to own a license before you can be permitted to start and run a drone inspection services company. If indeed you want to operate a corporate drone inspection company, you must go all the way to get it registered with the corporate affairs department of your state or country.
If you are considering starting your own drone inspection services company from the scratch, then your determination and diligence are some of the factors that can determine if you can succeed in your pursuit. There are many huddles you must scale through before you can setup a drone inspection services company in the United States of America and of course in most parts of the world.
If you are serious about starting a drone inspection services business, then you will find the business plan below very useful.
A Sample Drone Inspection Service Business Plan Template
1. Industry Overview
Drone inspection services are under the drone technology industry and this industry is rapidly gaining prominence in the globe beyond the military circuit. Drones are unmanned but controlled aircraft used in the military during war to attack the enemy’s camp, for surveillance and to gather intelligence. Drones are also used by the military to deliver foods to front line troops during war. Drones come in handy when the risk and difficulty involved in any military operation is high and unsafe for soldiers.
In recent time, the civilian community has started developing and making use of drones to carry out tasks such as surveying of vast farm lands, for delivery of parcels, to monitor and count wildlife and livestock, for geographical mapping, for search and rescue operations, for monitoring pipelines, for road patrol and for general commercial photography and motion picture filmmaking.
The commercial segment of the industry only represents an estimated 3.5 percent of industry revenue and it relies mostly on the recreational use of small UAVs. The FAA is currently working on rules for the integration of commercial UAVs into national airspace, but it missed its December 2014 deadline for rule proposals. As a result, those wanting to use UAVs for commercial applications have to apply for special FAA permission, a slow and limited process.
The drone inspection services line of business is indeed a growing sector of the economy of the United States of America and it generates several million dollars annually. The industry is responsible for the employment of several people.
Research conducted by IBISWORLD reveals that the next five years will be crucial for the industry’s future. As the Pentagon proceeds with new UAV programs, spending on UAVs will rise. Therefore, in the five years to 2022, industry revenue is forecast to climb at an annualized 5.7 percent to $4.3 billion; however, operators will continue to face uncertainty.
For instance, it is still unclear if sequestration (which eased in 2013) will come back in full force during fiscal 2016. Moreover, even if sequestration ends, the Pentagon will likely remain under budgetary constraints, putting industry projects in competition with the military’s other high-priority programs.
The report further shows that that in the United States, foreign companies face relatively easy huddles, hence making it easier for them to develop and sell new UAVs. China’s SZ DJI Technology Co., for example, has already become the world’s largest consumer drone manufacturer penetrating even the US market. In response, companies like Amazon.com have increasingly moved their UAV operations overseas.
The largest US consumer drone manufacturer, 3D Robotics, already conducts development and manufacturing work in Mexico. Despite this uncertainty, the market potential and declining costs of UAV technology will lead to increased industry participation, with the number of industry operators expected to climb at an annualized 4.0 percent over the five years to 2022.
The drone inspection services line of business is very open to any aspiring entrepreneur who has the capacity to open and run the business. Just ensure that you have all the required permits and licenses to operate a drone in the airspace.
2. Executive Summary
Eagle’s Watch® Drone Inspection Services, Inc. is a licensed drone inspection services company that will be based in Carson City – Nevada. We have been able to secure all the required security clearance and office facility to run a drone inspection services company in the United States. We are aware that to run a standard drone inspection services can be demanding which is why we are well trained and equipped to perform excellently well.
Eagle’s Watch® Drone Inspection Services, Inc. is a client-focused and result driven drone inspection services company that provides broad-based security services at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will deploy the latest drone inspection technologies for asset inspection and anomaly detection in the oil and gas and petrochemical industries. We will partner with some of the industry’s leading services and manufacturing companies to provide visual, thermal and confined space solutions to our clients.
We will work with one of the latest drone inspection software called BlueVu. One good thing about this drone inspection software is that it automatically organizes and analyzes your drone data to deliver better and faster insight about potential problems
Data can be viewed via 3D “point cloud” models that provide context and location. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their security or inspection concerns to our organization.
At Eagle’s Watch® Drone Inspection Services, Inc., our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in a wide variety of private security services.
Eagle’s Watch® Drone Inspection Services, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.
Our plan is to position Eagle’s Watch® Drone Inspection Services, Inc. to become one of the leading brands in the drone inspection services line of business in the whole of Nevada, and also to be amongst the top 10 drone inspection services companies in the United States of America within the first 10 years of operation.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Carson City – Nevada is the right place to launch our drone inspection services business before spreading to other parts of the United States.
Eagle’s Watch® Drone Inspection Services, Inc. is private – partnership business that is owned by Haley Jackson and his friend and business partner Michael Donald. The organization will be managed by both of them. They have combined hands on experience to help build Eagle’s Watch® Drone Inspection Services, Inc. to favorably compete with leading players in the drone inspection services line of business in the United States of America and on the global stage.
3. Our Products and Services
Eagle’s Watch® Drone Inspection Services, Inc. is going to offer varieties of services within the scope of the drone inspection services line of business in the United States of America. Our intention of starting our drone inspection services company is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.
Our business offerings are listed below;
- Industrial Asset Inspections and data acquisition with our certified pilots
- Data processing to create 2D and 3D images
- Using BlueVu, engineers and inspectors to locate, identify and diagnose problems for commercial or industrial assets.
- Detailed reports of the industrial or commercial asset condition including annotations, inspector comments, and recommendations
- Refinery and Storage Tank Inspections
- Flare Stacks and Chimneys Inspections
- Oil & Gas Pipeline Monitoring
- Safer & Faster Oil, Gas, and Petrochemical Inspections
- Roving patrol services within a defined parameter
4. Our Mission and Vision Statement
- Our vision is to build a drone inspection services company brand that will become the number one choice for both individual and corporate clients in the whole of Carson City – Nevada. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to provide professional and trusted drone inspection services that will help organizations and individuals effectively monitor their facility. We will position the business to become the leading brand in the drone inspection services line of business in the whole of Nevada, and also to be amongst the top 10 drone inspection services companies in the United States of America within the first 10 years of operation.
Our Business Structure
Eagle’s Watch® Drone Inspection Services, Inc. is a standard drone inspection services company that intends to start small in Carson City – Nevada, but looks to grow big in order to compete favorably with leading drone inspection services companies both in the United States and on a global stage. We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hiring the best hands within our area of operation.
At Eagle’s Watch® Drone Inspection Services, Inc., we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all our stake holders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Chief Security Officer/Manager
- Drone Pilot/Drone Inspection Consultant
- Admin and HR Manager
- Marketing and Sales Executive
- Customer Services Executive
5. Job Roles and Responsibilities
Chief Executive Office:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Chief Security Officer/Manager
- Manages the overall activities of security staff members
- Achieves maximum profitability and over-all success by controlling costs and quality of service
- Supervises weekly schedules. Schedule staff as necessary to ensure adequate and consistent levels of service
- Responsible for controlling policies and completion of necessary forms
- Submits reports on a regular basis to the management of the organization and give professional advice as at when due.
Drone Pilots/Drone Inspection Consultants
- Flies drones for the organization
- Handles services such as Industrial Asset Inspections and data acquisition with our certified pilots, data processing to create 2D and 3D images
- Uses BlueVu to locate, identify and diagnose problems of for commercial or industrial assets
- Compiles detailed reports of the industrial or commercial asset condition including annotations, inspector comments, and recommendations
- Handles refinery and Storage Tank Inspections, Flare Stacks and Chimneys Inspections, Oil & Gas Pipeline Monitoring, Gas and Petrochemical Inspections, Roving patrol services within a define parameter
- Plans, designs and produces security solutions (software and hardware et al) while managing all project delivery elements within time limits
- Liaises with clients to identify their security needs and to ensure customer satisfaction
- Provides security feedback and periodic reports to stakeholders
- Proposes ideas to improve provided security services
- Ensures compliance with insurance, legal, health and safety obligations
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities
Marketing and Sales Executive
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for increasing sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions
- Responsible for financial forecasting and risks analysis
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to
6. SWOT Analysis
Due to our drive for excellence when it comes to running a standard drone inspection services business, we were able to engage some of the finest business consultants in Carson City – Nevada to look through our business concept and together we were able to critically examine the prospect of the business and access ourselves to be sure we have what it takes to run a standard drone inspection services company.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Carson City – Nevada. Here is a of what we got from the critically conducted SWOT Analysis of Eagle’s Watch® Drone Inspection Services, Inc.;
Asides from the fact that our drone inspection services company is of world – class standard and the business is well positioned and well – equipped to meet the 21st century demand of both high profile corporate and individual clients, we have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details as regard drone inspection services. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.
As a new private drone inspection services outfit, it might take some time for our organization breaks into the market and gain acceptance from corporate clients in the fast – growing drone inspection services line of business; that is perhaps our major weakness.
The opportunities in the drone inspection services line of business is massive considering the number of clients who would need real – time update on inspection of their facilities. As a standard and world – class drone inspection services company, we are ready to take advantage of any opportunity that comes our way.
Some of the threats that we may likely face as a drone inspection services company operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operation and global economic downturn which usually affects purchasing cum spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
The drone inspection services line of business is one of the industries that are highly regulated so as to prevent costly security breaches that endanger the security of a country. So, if you are looking towards starting a drone inspection services company, then you should acquire drone inspection certification and related international security certifications; it will give you an edge amongst your competitors.
The truth is that the more relevant drone inspection certifications that you and your team have, the easier it is for you to convince people and organizations to patronize your services.
Although if you are able to build a successful drone inspection services company brand, you can pitch your business in any part of the world and still make success out of the business especially if you have some of the best drone pilots under your payroll. But if you are just starting out; especially if you are a newbie in the drone inspection services line of business, it is important that you locate your business in an area that can readily accept your services.
Furthermore, new software apps and emerging technology have made it easier for drone inspection services companies to gather all the needed data and information that will help them plan and project for the future.
8. Our Target Market
Even Though Eagle’s Watch® Drone Inspection Services, Inc. will initially serve small to medium sized businesses, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading drone inspection services companies in the United States.
As a standard and well – equipped drone inspection services company, Eagle’s Watch® Drone Inspection Services, Inc. offers a wide range of drone inspection services hence we are well trained and equipped to service a wide range of clientele.
Our target market cuts across people of different class and local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with smaller businesses.
Below is a list of the people and organizations that we have specifically designed our services for;
- Oil and Gas Companies
- Blue Chips Companies
- Religious Organizations
- Political Parties/Politicians
- Estates and Communities
- The Government (Public Sector)
- Schools (High Schools, Colleges and Universities)
- Manager of Stadiums and Public Facilities
- Entrepreneurs and Startups
Our Competitive Advantage
Surviving in the business world as a drone inspection services company requires more than your expertise and knowing how to deliver standard drone inspection services but also how to network with key people that matters; decision makers that can decide who a drone inspection contract is given to.
There are loads of investors that have a stake in the drone inspection services line of business, but one thing is certain, there is room big enough to accommodate both large and small drone inspection services companies. What smaller drone inspection services companies need to do to survive in the industry is to concentrate on providing drone inspection services to households, event planners, estates, communities, schools, hospitals and hotels et al before bidding for big security contracts from corporations, oil and gas companies and government agencies.
Eagle’s Watch® Drone Inspection Services, Inc. might be a new entrant into the drone inspection services line of business in the United States of America, but we have what it takes to improve worker safety by helping inspectors and employees stay away from dangerous inspection areas.
So also, our management staff are core professionals who are licensed and highly qualified drone inspection experts in the United States. We are a world class drone inspection services business that is well positioned and equipped to meet the 21st century security and inspection demand of both high profile corporate and individual clients. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category in the industry meaning that they will be more than willing to build the business with us and help achieve our set goals and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Eagle’s Watch® Drone Inspection Services, Inc. is established with the aim of maximizing profits in the drone inspection services line of business and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis.
Eagle’s Watch® Drone Inspection Services, Inc. will generate income by offering the following drone inspection services to our clients;
- Industrial Asset Inspections and data acquisition
- Data processing to create 2D and 3D images
- Using BlueVu to locate, identify and diagnose problems of for commercial or industrial assets
- Detailed reports of the industrial or commercial asset condition including annotations, inspector comments, and recommendations
- Refinery and Storage Tank Inspections
- Flare Stacks and Chimneys Inspections
- Oil & Gas Pipeline Monitoring
- Oil, Gas and Petrochemical Inspections
- Roving patrol services within a defined parameter
10. Sales Forecast
One thing is certain, there would always be clients who can’t afford to leave the inspection and even security of their properties to government security agencies. As a standard drone inspection services company, we are ready to take advantage of any opportunity that comes our way.
We are well positioned to take on the available market in Carson City – Nevada and we are quite optimistic that we will meet our set target of generating enough profits from the first six months of operation and grow the business and our clientele base beyond Carson City to other cities in Nevada and other states in the U.S.
We have been able to critically examine the drone inspection services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Carson City – Nevada.
- First Fiscal Year: $250,000
- Second Fiscal Year: $450,000
- Third Fiscal Year: $900,000
N.B: This projection was 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 services as we do within the same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there is stiff competition amongst drone inspection services companies in the United States of America; hence we have been able to hire some of the best business developers to handle our sales and marketing concerns.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard drone inspection services business that will leverage on word of mouth advertisement from satisfied clients.
Our goal is to grow our drone inspection services company to become one of the top 10 drone inspection services companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Carson City – Nevada but also in other cities in the United States of America.
Eagle’s Watch® Drone Inspection Services, Inc. is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to corporate organizations, schools, oil and gas companies and key stake holders in and around Carson City – Nevada
- Promptness in bidding for drone inspection services contracts from the government and other cooperate organizations
- Advertise our business in relevant magazines, newspapers, TV and radio stations
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality drone inspection services to them
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the drone inspection services line of business by storm which is why we have made provisions for effective publicity and advertisement of our drone inspection services company.
Below are the platforms we intend to leverage on to promote and advertise Eagle’s Watch® Drone Inspection Services, Inc.;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events/programs
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
- Install our billboards in strategic locations all around Carson City – Nevada
- Engage in roadshows from time to time in target neighborhoods
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.
12. Our Pricing Strategy
Just like in services and consulting business, hourly billing for drone inspection services is also a long – time tradition in the industry. However, for some types of contracts or clients, flat fees make more sense because they allow clients to better predict the overall service charges. As a result of this, Eagle’s Watch® Drone Inspection Services, Inc. will charge our clients both flat fee and hourly billing as long as it favors both parties.
At Eagle’s Watch® Drone Inspection Services, Inc. we will keep our fees below the average market rate by keeping our overhead low. In addition, we will also offer special discounted rates to start ups, nonprofits, cooperatives and small social enterprises.
We are aware that there are some clients that would need regular drone inspection services or related security consulting services, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by Eagle’s Watch® Drone Inspection Services, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulations of the United States of America.
Here are the payment options that Eagle’s Watch® Drone Inspection Services, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via POS
- Payment via online bank transfer
- Payment via check
In view of the above, we have chosen banking platforms that will enable our client make payment for services rendered without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
When it comes to starting 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.
In essence, the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The resources 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 drone inspection services company; it might differ in other countries due to the value of their money.
These are the key areas where we will spend our startup capital;
- The total fee for incorporating the business in the United States of America – $750
- The budget for basic insurance policy covers, permits and business license – $2,500
- The amount needed to acquire a suitable office facility (Re – Construction of the facility inclusive) – $150,000
- The Cost for equipping the office (computers, drone inspection software apps and other related software applications, printers, fax machines, furniture, telephones, filing cabins, security and safety gadgets and electronics et al) – $5,000
- The cost of launching an official Website – $600
- The cost for the purchase of 21st century drones, and related monitoring/inspection tools – $100,000
- Budget for paying employees for 2 months plus utility bills – $100,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous: $5,000
Going by the report from the market research and feasibility studies conducted, we will need about four hundred and fifty thousand (450,000) U.S. dollars to successfully set up a medium scale but standard drone inspection services company in the United States of America.
Generating Startup Capital for Eagle’s Watch® Drone Inspection Services, Inc.
Eagle’s Watch® Drone Inspection Services, Inc. is a private – partnership business that will be owned by Haley Jackson and his business partner Michael Donald. They are the sole financiers of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from the Bank
N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The survival and profitability of a business lies in the number of loyal customers that they have the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.
One of our major goals of starting Eagle’s Watch® Drone Inspection Services, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our drone inspection services a little bit lower than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Eagle’s Watch® Drone Inspection Services, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Securing a standard office facility and reconstruction inclusive: In Progress
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founder: Completed
- Applications for Loan from our Banks: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Design and Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed drones, drone inspection software application, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating an official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in the industry: In Progress