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Part 107 Business Development questions

AlphaMike2

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Dec 22, 2019
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I am looking to start a UAS business and focus on real estate photography as well as videography. I am looking to build a portfolio so far, so I have a few ideas on doing that as well, and plan to sell photos and videos online as a passive income. Those of you that are doing this as a business, do you run it under an LLC? I am looking to do that to protect my personal assets separate from the business. Was there a lot of fees associated with that?
 
I run a small marketing communications business as an LLC that, as of recently, offers aerial photography, videography, and photogrammetry via UAS. Getting an LLC is pretty easy. The specifics vary from state to state, but the basics are as follows: 1) Visit your state's Secretary of State's office website to search for a trade or trademark name for your desired company name to ensure it's available. 2) If you want to secure an LLC, you can have a lawyer draft articles of incorporation (an expensive route) or use an online service like LegalZoom. You'll need to pick a registered agent. This is a legal entity that will receive official mail on your behalf in the event you are served. It's just a legal formality, but it's needed to complete your LLC. The registered agent part is the most costly, but all told, you're out about $200 to $250 for name registration, LLC paperwork, publication of named LLC (not required in all states), and registered agent paperwork.

I would do a ChatGPT query for your state to determine the exact process and requirements. Yes, it does afford you some financial protections, but not to the same extent as a full-blown C- or S-Corp. If you're a sole proprietor, which I'm guessing you are, like me, you're the responsible party, not the company, in the event something goes south.

Look into liability insurance and property insurance for your drone(s). Also, it's important to obtain an EIN if you haven't already. This is free from the IRS. And of course, get your Part 107 Certification, which I'm guessing you already have, per the title of this thread. :)

Best of luck with your new venture!
 

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