There has never been a better moment to start your own video production business. For over a decade, the industry as a whole has been undergoing a major transformation, and video production continues to discover new ways forward.
Whether you’re starting small and want to create solo or DIY projects, or you already have a firm goal and plan in place with numerous partners or employees, Here are the seven key factors to consider if you want to start your video production firm.
1. Name and LLC
This is not the first step you should take (you can always gear up, find clients, and start working as an individual freelancer first), but choosing a company name and submitting the LLC paperwork should be your initial official act of business. It’s a lot of hard work picking a name, but it may be more enjoyable than you might believe. You’ll need to come up with something witty that represents yourself while also being distinctive and avoiding infringing on the rights of another business.
2. Website
You’ll need a website for your business. Video production websites range in size and complexity, but having at least a basic and informative place to provide information about your firm’s work is essential. You can also create a variety of pages, such as pricing and blogging, following this path.
3. Work That is relevant
You’ll want to advertise your work as an example of your production company’s capabilities on your website, social media profile, or in person. If you’re just getting started, you may use previously shot footage or go out and make a new demo video. Ideally, after you’ve hired a customer and completed a project, this work will be one of your finest examples going forward.
4. Find a Rental Resource You Can Rely On
While some may claim that having your camera is a must, it is feasible to start a video production business without one. If you want to save money from the start, a project-by-project camera rental approach is ideal.
5. A Solid Base Camera
While the majority of consumers are still hesitant to spend money on a camera, the moment is now one of the greatest times to buy one. Not only is the mirrorless camera revolution heating up, but cameras that have just been outpaced by newer versions or upgrades are becoming far more affordable.
6. Setting Up Your Audio and Lighting
Making significant purchases in audio, lighting, and other video production equipment is not always necessary, as with camera gear. To stay on top of your game, you may rent equipment for a single event or throughout several events. Even better, renting can help you save money and streamline your billing by passing rental expenses straight to your customers.
You might also need to find the best music editing software to add sound effects, background music, and voiceovers.
7. Resources and Friends
I’ve worked as a freelance and in-house video producer for a tiny video production business, so I can tell you that the attitudes are not all that different between the two. When you’re starting on your own, the first thing you need to consider is what you can accomplish alone versus what another person could contribute (and how much it would cost). As you add full-time staff, the game becomes about finding the most effective methods to use everyone’s time and effort as efficiently as possible.
A powerful network of shooters, editors, and producers is unquestionably beneficial.