Last Updated on January 25, 2021 by Larious
If you love video and film and you want to use it to tell some amazing stories, then why not start your own video production company? Although starting your own company can be daunting, it’s often easier than you’d think. Keep reading below to find out more:
What is a Video Production Company?
Video production companies are responsible for the creation of video content. They produce content for things like TV shows, feature films, TV advertisements, and music videos. The two different types of projects video production companies create are:
- Content that they’re hired to produce, but they have no creative involvement in – in this instance, the video production company is hired by someone else to simply shoot the footage. They will not be responsible for creating a story, finding a location, hiring actors, etc.
- Content that they create themselves using their own creative team – the video production company will oversee the whole project. Not only will they be expected to create an engaging and entertaining story, but they’ll also write the scripts, find the right location, hire the actors, shoot the project, and edit the footage too.
Setting Up Your Own Video Production Company
The first thing you need to do if you want to start your own production company is to create a business plan. Although it can be daunting to start a new business, it’s often not as difficult as you’d expect. Here are some of the steps you should follow if you want to start your own production company:
- Do some market research – you will need to find your company’s niche. Think about the type of content you want to create. Maybe you want to produce some low-budget horror features or maybe you’d prefer to create some sci-fi genre films. It’s important to know the type of videos you want to produce before you start your business.
- Choose a business name – you will need to come up with a name that is memorable and meaningful to the business. You will also need to make sure that the name isn’t taken by another company. If the name is available, then apply for a trademark.
- Create a business plan – if you want your business to be successful, then you’ll need to create a solid business plan.
- Consider hiring an attorney – it can be difficult to set up a production company without the help and advice of an attorney. A small business lawyer will be able to give you legal advice throughout the process. They will help to make sure you’ve completed all the necessary documents you need to start a business and when you’re up and running they will help you to create contracts and hire employees for your project.
- Find funding for your business – production companies need money to grow. Most people who want to start their own production company will need to apply for a business loan or find investors.
- Complete the paperwork – there’s a lot of paperwork involved in setting up and running a production company. You need to create a business bank account, file an operating agreement, get an employer identification number, and lots more. Some states also require you to hold a business license too.
- Employ a great team of executives – the best creative ideas usually come from amazing groups of people. If you want to make your business a success, you’ll need to hire some creative employees.
- Hire an accountant – it’s a good idea to hire an accountant who is trained in entertainment financing. This is because entertainment payroll can be complicated. You need to find an accountant that is trained to handle a constantly rotating crew.
- Get insurance – accidents can happen anywhere, so it’s important to have the correct insurance in place to protect you should one occur.
- Show off your company – new production companies will have to create some proof-of-concept videos. These videos should show off your company and the capabilities of your team.
- Advertise – set up a website and create a social media presence.
Tips to Help You Create Amazing Videos
Videos are often judged on their presentation, content, style, production quality, and the information they provide. This means that the content needs to be amazing if you want to succeed in this industry. Here are some of our top tips to help you create amazing videos:
- Be original – videos need to be creative and original
- Make sure you plan your ideas – video producers will need to create a script and make a plan before they start shooting the video
- Set high standards – only hire actors who can do the role justice
- Consider the set – find the perfect location for the film
- Lighting – eliminate any unwanted shadows by setting up lights on the set
Whether you’re thinking of starting a small video production company and looking to shoot some simple solo DIY projects, or you’ve already got a vision and several employees and partners lined up, follow some of our advice above to get your production company up and running.