DRONE ECONOMICS CONSULTING

We provide different drone consulting services based on your needs. Economic impact, regulatory issues and business development are some of the key areas for drone business. Please review some of the consulting services here and contact us for a conversation.

ECONOMIC IMPACT

Both Jenkins and Vasigh have years of experience doing economic impact studies. According to Tatum,

“Economic impact has to do with the level of impact that some type of occurrence or event has on the marketplace. This may include unanticipated events such as sudden changes in the leadership of a major player within a given industry, new governmental regulations that affect a number of industries related to a given marketplace, or even some sort of act of nature that affects the ability of a major company within an industry to deliver goods and services to consumers. Typically, the goal is to not only identify when something changes and exerts an influence on market direction, but also to ascertain just how much of an impact has taken place.”[1]

There are three different aspects to economic impact. The first impact is referred to as the direct impact, which is the first round of spending.  This means direct transactions between those involved in the project.  The indirect economic impact includes the effect of local industries buying goods and services from other local industries. Whereas induced impacts are those jobs and earnings which result from the spending by people directly and indirectly supported by the project (see figure below).[2]

A video about Economic Impact Analysis by Daniel Findley

Regulatory Issues

As drones are heavily regulated by the Federal Aviation Administration in the United States, and by other regulatory bodies in other countries, a keen knowledge of the workings of government and how these policies affect drone decision makers is vital to growth.  A regulatory analysis is a formal analysis of a proposed government agency decision or guideline.  These can take the form of a cost-benefit analysis, environmental impact analysis, or an impact assessment.

Business Plan Development

One of the critical areas for any business is to have an ongoing business plan.  These can take many forms, but usually cover the following areas:

1.      Define goals

2.      Define your product and the markets it will serve.

a.     How will your product disrupt the current market?

3.     How big is the market?

a.     How many customers (there are always competitors)

b.     How much are they willing to pay?

c.     Is the market growing, mature, or declining?

4.     Who are the competitors?

a.     What are their markets share?

b.     What are their pricing strategies?

c.     Which distribution chains do they use?

5.     Market Forecasts

6.     Marketing strategy.

7.     Financials

8.     Recommendations going forward

Please contact us to talk about your drone consulting needs

Darryl Jenkins

airjenkins@aol.com

540-364-6913