35 Pros & Cons Of Starting A Drone Surveillance Business (2024)
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
Trying to understand the pros and cons of starting a drone surveillance business?
Here are all of the pros and cons of selling drone surveillance online:
Pros Of A Drone Surveillance Business
Pros | Description |
---|---|
Flexibility |
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
Meaningful business connections |
You never know who you will meet as a drone surveillance business. This could be the start of an incredible business opportunity! |
High customer retention rates |
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer. |
Unlimited income potential |
With starting a drone surveillance business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make. |
Amazing perks and discounts |
Working in the drone surveillance business comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts. |
Predictable income stream |
Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless! |
Higher likelihood of getting referrals |
This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product. |
Simple business model |
A drone surveillance business has the advantage of a simple business model, which makes launching and building the business more seamless. |
Greater Income Potential |
With this business, the sky is the limit in regards to your income potential. |
Strong Demand & Relatively Recession Proof |
The demand for drone surveillance business is increasing year over year and the business is known to be relatively recession proof. |
You get to inspire others |
Your business is one that encourages and inspires others, which in itself, can be very fulfilling. |
You can promote and sell your product on Amazon |
Although there are some disadvantages to consider when selling your product on Amazon, there are also a host of benefits. Mainly, Amazon is the world's largest online retailer, so you're bound to tap into new business and reach an entirely new audience. |
You establish yourself as an expert |
With starting a drone surveillance business, you establish yourself as an expert in your niche, which builds your credibility. In return, customers are more likely to trust you and refer you to other friends and family. |
Can build solid foundation of clients |
It's unlikely you will have one-off customers as a drone surveillance business. Typically, you have a solid foundation of clients that use your product and services regularly. |
Results and revenue happen quickly! |
Unlike other businesses, it can be relatively quick to start seeing results and revenue. As long as you follow all the steps to validate your idea before launch, you are likely to see quick results and ROI. |
Cons Of A Drone Surveillance Business
Cons | Description |
---|---|
Motivation of employees |
If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
Longer Sales Process |
A drone surveillance business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers. |
Low margins |
The gross margins for your drone surveillance business are typically around 20%, which can make it more challenging to incur new expenses and maintain profitability. |
High employee turnover |
In the drone surveillance business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment. |
Taxes |
As a drone surveillance business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it. |
Stressful work |
This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments. |
Niche Market |
A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience. |
High overhead expenses |
With starting a drone surveillance business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below. |
You may need to charge sales tax |
If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out this article |
Churn |
In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible. |
Time commitment |
With starting a drone surveillance business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business. |
Difficult to build trust with your customer |
With starting a drone surveillance business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business. |
Complex development process. |
The development process for a drone surveillance business can be quite complex, which may cause delays and challenges when launching and growing your product. |
Complex maintenance |
Your drone surveillance business will require a long-term investment due to the need for updates, bug fixes, and security vulnerabilities. It's important that you (or someone on your team) stays on top of this at all times. |
Impatient customers |
You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service. |
Difficult to scale |
With a drone surveillance business, it can be challenging to find ways to scale. Check out this article that discusses scaling your business and the challenges that come with it. |
Learning Curve |
When you start your own business, you no longer have upper management to provide you with a playbook for your roles and responsibilities. You should know the ins and outs of every aspect of your business, as every decision will come down to you. |
Equipment Breakdowns |
Over the years, your equipment can get damaged, break down, and may need repairs which can be expensive. It's important you prepare for these expenses and try to avoid damages/wear & tear as much as possible. |
Technical issues can be frustrating |
Technical issues are common in this business. If you struggle with the technical side of things, you may want to consider outsourcing this responsibility to save yourself the time and frustration. |
More challenging to earn passive income |
It can be more of a challenge to make passive income in this business. Often times, the amount of revenue you bring in is limited by the amount of time you have in the day. |
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.