Technology was the top performing industry group of S&P 500 stocks in 2017 according to USA Today, increasing in value by about 40%. Among the developments pushing the tech industry to greater heights are advances in the areas of artificial intelligence (AI), robotics and cloud computing. Not to mention the continued weaving of technology into facets of everyday life and business.
One of the buzziest areas of tech is drones. TV channel Viceland together with business powerhouse GE even dedicated a whole week to them in October 2017.
Originating in the military, drones have traditionally been used for security purposes. But in 2015, the Federal Aviation Administration (FAA) granted exemptions that cleared the way for drones to be used in new ways. Following the exemptions, drones became so popular that new commercial provisions had to be introduced the next year.
Nowadays drones are used in a myriad of manners, from entertainment to package delivery. “It gives [companies] less risk; you don't have to climb a roof or climb a cell tower,” says BirdsiVideo franchise owner Roger Armstrong.
To illustrate its usefulness commercially, here’s a short list of areas drones can be used in:
- Agriculture
- Architecture
- Construction
- Conservation
- Emergency services (e.g. firefighting)
- Engineering
- Infrastructure inspection
- Media
- Property scouting
- Package delivery
- Security
Analyst firm PricewaterhouseCoopers (PwC) views piloting drones as a business area with a lot of promise. “With an estimated market value of over $127 billion in commercial applications, drones are making the transition from novelty item to indispensable business tool,” says Michal Mazur, partner and head of Drone Powered Solutions at PwC.
With budding potential like that, it’s not a surprise franchises are starting to form with drones as a key element. And for prospective franchisees the benefits go beyond being in a growing business sector. Drone-based franchises are also typically home-based, and allow franchisees to decide if they want to make the business part- or full-time—a setup more and more prospective franchisees are seeking.
In addition to BirdsiVideo, which provides clients with aerial images and data collection, another drone-focused franchise is Hommati, which specializes in services to real estate professionals such as virtual staging, 3D interactive tours, and aerial video.
If you are interested in real estate, marketing, business services, and/or video production, operating a franchise with drones could be a good way to look towards the future.