Digital Marketing. Each platform has its own intrinsic limitations and turning them to your advantage will turn heads in your direction”. Before joining the team, he reviewed films for a culture website, and still harbours ambitions of being a screenwriter. Start off with some basic, but high quality equipment, such as a digital video camera, sound recording equipment such as microphones, lighting equipment, and a digital SLR camera with a few basic lenses. Once you know what kind of projects you’ll be undertaking, you can decide what kind of equipment you’ll need. What area do you want your films to specialise in? Sutherland describes it as “a loose affiliation”. Registered No. Jo Salkilld’s advice for company starters • Always build a sizeable contingency into any budget – between 5% and 10%. This is so you can become known and respected for your specialised work. We’ll send you a link to a feedback form. Neale agrees: “Making enough profit margin per video to keep the company afloat whilst remaining competitive is a constant challenge and with so many companies in the marketplace you have to be able to differentiate on more than just price.”, Get the latest Startup news and information. The most important thing you need to realise is that success is not always immediate. Even to the untrained eye, the difference between professional and amateur footage is startling – bad lighting, bad framing and most importantly bad audio are a death sentence. So, think about hiring in the following areas: Setting up a limited company for contracting, How to form a company in the UK if you live overseas, Six things you need to know about how to set up a business, Co-Working Spaces – The Way Entrepreneurs Work. Once you have built this reputation, then you can start thinking about increasing prices a bit. Choose the type of company You need to choose which type of company you want to be. At some point, you’ll want to actually start producing music. Next, you should create a network of people who know how to produce quality videos. Do you really need to bring someone in?”. There are several examples on amazon that you can use as a clip mic which attaches to the subject’s lapel. Confirmation Statements Therefore, it is best to start off with some legal advice from a specialised business solicitor or a knowledgeable accountant. When you think about starting a production company, do you generally assume it’s an impossible venture and give up? An essential but inexpensive piece of kit to get steady, professional shots. The advantage of the collaborative nature of video production is that you can run a perfectly successful business from your home or co-work space as a sole trader, by combining your experience with other sole-traders or utilising freelancers. Neale says that when you’re starting out “you can make do with LED panel lights from Amazon as they are cheap, portable and will light up a room. It’s not necessary to have your own equipment package to start a company or to start working as a freelance cinematographer. Their most recent production, ‘ They Built It. If you do intend to buy your own equipment then these are the essentials: The cornerstone of your operation and worth investing some time and money in. Thread Status: Not open for further replies. Funding is one of the biggest obstacles to new business. This is so that you fully understand exactly what your business model will be in order to help secure investment. However, with a business model as intense as a production company’s. Whether it be for feature films, factual television and drama or feature documentaries, participants should be prepared to talk about why they want to set up on their own and what their goal or strategy is. Sutherland says that “most people who are starting up a video production company tend to be people who are both shooting and editing”. Sutherland explains that there are “more and more people coming into this space, and the entry point is lower and lower in terms of cost”. Where will you seek funding for your projects? Not too many people can say that. Here’s the truth about starting a production company: The truth is that while it’s hard work, it is still possible to successfully start a production company in today’s market and to make your business thrive. While there are traditional distribution pathways for conventional films, most production companies are also establishing their own distribution strategies to ensure that their work gets maximum exposure. Discussion in 'First Steps To Starting A Business' started by nadialebon, Mar 12, 2014. Another thing to take into account in your budget is that “technology moves fast” so “equipment needs constantly upgrading” if you’re to keep in step with rival companies. It’s the lower paid jobs that will absorb 80% of your time. Set artistic goals. Sutherland explains that you shouldn’t be “shy of making demands […] It’s part of the business […] If you’re clear with people in advance they like that”. Make the best work … Neale advises looking for “a microphone that plugs into your smart phone. • Keep at least one piece of paper for every financial transaction. Aiming for a TV contract or a movie deal may be the ultimate dream. Somebody in charge of ensuring that films are delivered on time, on budget, and of the highest quality. Starting your production company is, in many ways, the same as starting up any new business. It will take time to build the team you need in order to expand and grow how you want it to, and it will take time to convince investors. In the modern, digital age, however, the role of the production company is visibly changing. Purchase Your Equipment. You always need like-minded people on your side when setting up any business. If so, how will you achieve this? Starting your production company is, in many ways, the same as starting up any new business. If you intend to outsource things like camera work and sound recording to freelancers then their daily rate will probably include the cost of renting their equipment. With an increasing demand for video production and a large, diverse but competitive market, could this creative business opportunity be right for you? Social Media Management Just be aware of their limitations and don’t go trying to record a conference on one as most of them have a 10-minute record limit and you might miss some important dialogue just as the camera cuts out.”. But at some point you are going to come unstuck and that’s when you need a helping hand. Credit Insights, Company Dissolution professional support. Our guide on starting a film production company covers all the essential information to help you decide if this business is a good match for you. 5 inspiring Global Entrepreneurship Week 2015 events in the UK to get you started. Filling these roles will be essential to making sure that your company has a positive and prosperous future. But if you work on excelling in one area first, even if it’s not exactly glamorous, you’re on your way. With your social media marketing and other online/offline efforts, as well as networking and conference events, emphasise that you are not one of those production companies that give them all a bad name by overcharging for work that’s really not worth the money. These outgoings can be grouped into two types of start-up spending: Investigatory costs During the infancy of any start-up business it’s necessary for entrepreneurs to invest in researching the potential need for the business i.e. If you have no experience or formal education in video production it might be wise to take a course or a degree. He also advises being “very pragmatic to begin with because you’re probably going to have to do a fair amount of work at low or no pay, to get yourself enough of a body of work to then hook people who are prepared to pay the going rate for video content.” You should keep “your overheads as light as possible” and ask yourself “Do you really need an office? If you intend to use music in your videos “you should avoid using copyrighted music […] unless you have clearly agreed this with the client and they accept liability in writing”. Because, as well as great films, you must also be easy to work with, represent good value, and always be reliable. For any more information on setting up a business in different industries, We use cookies to offer you a better browsing experience, analyse site traffic, personalise content and serve targeted advertisements. paulears UKBF Big Shot Full Member. “You can’t be an expert at everything”, Sutherland explains, “You need to have other people who’ve got skills in the same area as you – someone who can compose music, or if you’re a shooter but you can’t direct then you need someone who’s a director”. Identifying your distribution strategy is increasingly important for today’s production companies. The truth about starting a production company. Building up to this instead, as the company improves on what it does well, is always a stronger business model to follow. Keep your overheads as light as possible – do you really need an office? So, think about hiring in the following areas: Somebody who is very technologically savvy, and can turn hours of raw video into minutes of fantastic content in the edit suite. Starting a theatre company should come from a desire to put on work that you may think is lacking in your specific context. Creating that ideal team around you will also be able to convince investors to invest, and marketers to trust them with their next advertising project. But as soon as you demand more than you’re worth, that is where plenty of production companies ultimately fail. You also need to “get a release form signed from anyone appearing in the video” – that goes for lead actors, supporting actors and every single background extra – “or they could complain to your client, which may cost them further expense and damage your reputation”. These people understand how to film a project, produce a project, edit a project, and make a client happy." We use cookies. Read about how we use cookies in our privacy and cookie policy. . Somebody who is persuasive, and able to source and exploit channels of distribution so that the films you make get into the best hands possible. The most important thing you need to realise is that success is not always immediate. Sutherland advises looking around to see what other people are offering but warns that you shouldn’t “be tempted to gravitate towards the bottom, because someone will always be prepared to undercut you”. You must choose a unique business name to register with Companies House, and you must allocate one or more directors and shareholders. Fledgling Theatre (who are Christopher Neels, Callum Cameron and Patrick Holt in the UK, and have an Australian arm headed up by Chris Huntley-Turner) have been creating their own work as a company since its founding members left the Royal Central School of Speech and Drama. “Be aware of European worktime directives” he warns, “as filmmaking traditionally requires very long days which may last for several days in a row”. Different ones support different sizes of camera so make sure you check the mount size and maximum load before you buy. Copyright © 2020 TheFormationsCompany.com Ltd | Registered in England. Most commonly, indie movies are made with a budget of $1 to $100,000, but it is rare to see an indie movie that has been made for over $100,000. Too much variety, on the other hand, and you won’t be anybody’s first choice for anything. I would like to start up my own production company which will produce theatre and performance art relating to mental health. A company isn't just the legal entity – it's the people making the work together. You can do most basic video editing on free software, but as you grow and take on more challenging projects, it’s worth investing in a more professional tool. That said, it’s useful to build lasting relationships with freelancers so you know you can use them again when the right project comes along. Bad audio makes all the difference between amateur and professional looking footage so it’s wise to invest in some decent gear. Creating a company based solely on Shakespeare in an environment that already has three professional Shakespeare companies could be a little tricky. He adds that you need to “define the terms of your offer” with a “set of simple terms and conditions”. Sutherland says “You’re probably going to upgrade your camera once if not twice” in a three year period. It may well sound obvious, but when you're getting stuck into the complexity of whether to be a partnership or company limited by guarantee, it's useful to be reminded. Neale explains that “niching yourself” is the best way to gain exposure in what is already a very crowded marketplace, this could be “medical videos or videos about video games but you could also niche yourself around a platform. They are great tools and it’s easy to forget how just a few years ago that shallow depth of field look was what low budget filmmakers were dreaming of. Many people choose to specialise in one particular area such as camera operation, lighting or sound and will have a background or education in the medium. He’s also contributed to many of our industry-renowned annual indexes, including Startups 100 and Young Guns, and created a number of the site’s popular how to guides. Domain and Names Independent movie production companies are production companies that operate without a studio or distribution contract or budget. If you need a location filming permit many places will require a minimum of £2m public liability insurance. The importance of a good distribution strategy. Business Insurance, Websites Both 2-day courses are aimed at those moving out of full-time employment into the freelance independent sector, and at people who are contemplating starting up their own companies. Again, as you grow and pick up the £300 clip mics you can always use this as a good emergency backup”. By browsing our site you agree to our use of cookies. Help us improve GOV.UK. Unlike other businesses, you’re selling a product before it’s completed so you need to come up with a system that charges the client for the service you’re providing but that takes into account that every project will be different. 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