A continuation on the series HOW TO START A LAND SURVEYING. This article is based on step number one (1) on the points outlined in the initial post.
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
- How much can you charge customers?
- What will you name your business?
What are the costs involved in opening a land surveying business?
A land surveyor is a professional occupation and starting a business in the field is expensive. Besides the tens of thousands of dollars for training, there is the cost of surveying and computer equipment which can add tens of thousands of more dollars to the bill. Renting or buying a used surveying system can save a business a lot of money when it is getting started. In addition to the cost of the education and equipment, there is still the expense of renting an office, hiring staff, and marketing. Due to the nature of the business, most land surveying experts suggest companies purchase comprehensive liability insurance to protect them from lawsuits.
What are the ongoing expenses for a land surveying business?
Since the accuracy of surveying equipment is critical, it is important to maintain and routinely test all equipment. Any inaccurate or worn out equipment needs replacing immediately. Then there is the labor cost, plus the expensive of renting an office and marketing.
Who is the target market?
The target markets for a land surveying business are homeowners, land developers and public organizations. When starting a land surveying business, finding clients is one of the most difficult parts. New businesses can’t afford to specialize in one particular area of the industry.
How does a land surveying business make money?
Clients hire land surveying businesses to create precise measurements of a property. There are a wide range of potential clients including land developers, homeowners and public organizations.
How much can you charge customers?
Land surveyors can charge by the hour or by the job. The cost of surveying depends on a number of factors including the size, location and type of property, in addition to the type if report or map the client needs. The average cost for a land survey of a residential property on ImproveNet is $463.
How much profit can a land surveying business make?
According to the BLS, the median income for a land surveyor is $59,390 per year. The income can vary greatly depending on the type of land surveying.
How can you make your business more profitable?
Increasing the type of land surveying services a business offers is a great way to secure more work and higher profits. Land surveying business owners may also consider earning a license to fly drones so they can offer their clients aerial photography to help market a property.
What will you name your business?
Choosing the right name is very important. If you don’t have a name in mind already, read our detailed guide on how to name a business or get some help brainstorming a name with our Business Name Generator.
Then, when registering a business name we recommend checking if the business name is available in your state, federally by doing a trademark search, searching the web, and making sure the name you choose is available as a web domain to secure it early so no one else can take it.