Since the Federal Aviation Authority (FFA) has relaxed its rules about how people can do business using drones, experts are predicting the rise of a multi-billion dollar industry in the coming decade. With pizza restaurants like Dominos taking the lead, there is a lot more to drones than meets the eye. 

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Many people are upbeat about using drones to enhance their business and to make a couple of extra bucks on the side doing things like taking photographs, crop surveillance, parcel delivery, and even babysitting.

If you are considering taking up a business that involves flying drones, be sure to make a mental note of these quick facts:

1. What the FAA defines as 'low-risk scenarios'

Currently, the situations where flying drones are permitted include good weather conditions where the visibility is at least 3 miles, flying in sparsely populated areas when the drone and its cargo weigh no more than 50 pounds and ensuring that the package does not include hazardous materials and is securely attached to the drone.

The pilot's responsibility includes testing the drone pre-flight, not flying multiple drones simultaneously and meeting all physical fitness and mental health standards required to ensure the safety of people on the ground.

2. You need to get licensed as a drone pilot

Only a licensed drone pilot is permitted to operate a drone for business. The FAA requires pilots to pass a test to get a 'Remote Pilot Certificate.'

3. Things you can do now to make money with your drone

Here are some of the most popular ways your drone can become a money-generating tool for you:

Do you live in an agricultural area where farmers are concerned about crop surveillance particularly at night? You can use your drone to provide anxious farmers crop surveillance services with a night vision enabled drone that can also take pictures and send them to the land owner in real-time. Not only will this prevent trespassing by unwanted animals, but the farmers can also look at how their crops are doing.

Similarly, you could install a professional grade light-weight camera on your drone and capture amazing aerial photography. Such photos and videos are in great demand and can be sold to local dealers or online websites like Getty Images.

4. How to choose a low-cost drone for testing and practice

It is important to keep in mind is that crashes and accidents are inevitable until you get the hang of things. So you do not want to get a very expensive drone until you become a pro at flying. It is advisable to invest in a low-end quadcopter like the Hubsan X4.

When you are confident about your flying skills, you can upgrade to something like a professional Phantom 4.

5. Where to buy drone spares

The market for drone spare parts is still growing, so do not be frustrated if you are unable to find spares at first. Try Amazon and eBay. If all else fails, visit the model planes collector in your neighborhood or see if an engineer who owns a 3D printer could give you a hand.

If you do not live in the US, you need to check with your local aviation authorities to know whether you are allowed to fly a drone for commercial purpose in your country. Usually, low-end drones come under the same guidelines as model planes and kites.