5 Tips for Independent Film Production Startups
Before making the decision to start an independent film production company, you should distinguish the objective and focus of your business very concisely.
In a nutshell, you should know if your independent film production startup will need financing to support the company, the processes of developing and packaging screenplays, and whether or not you’ll want to organize a filmmaking team to support the business.
Even though startup film companies require the creative elements of branding, such as crafting a well-designed logo and a marketable company name, starting an independent film production company means starting a business. And that will demand some thoughtful planning, preparation, and work.
Establishing a film production company calls for creativity, patience, and wise investments in different parts of the business. To make good progress and get adequate returns, below we share five tips for independent film production startups and how they can best thrive in a competitive, right-brained industry.
Building the Right Team
Selecting the right business partners is one of the most crucial step towards achieving your filmmaking goals. A creative, motivated and passionate team of focused individuals will help you brainstorm on different concepts for the success of your startup business.
Ensure that your selected team of individuals have paralleled interests in the business as well as the heart to propel it to the next level. As you recruit individuals for your filmmaking team, consider asking them honestly about their previous work experience and the amount of investment (both time and financial) each prospect is willing to put into the business.
Write a Business Plan
To ensure that your film production company starts on a solid foundation, creating a viable business plan will better facilitate its long-term success. In addition to serving as a roadmap and basis for your independent film production company, the business plan may also include the necessary elements that can attract investors for funding purposes.
These elements include your film distribution strategy, the marketing plan behind your business, and a detailed production budget for any films you plan to make. Subsequently, engage your team to help in creating a clear budget and program.
Raise Enough Funds
Depending on the type of indie film production startup you endeavor to create, you can use your business plan to obtain funding to invest in certain filmmaking projects. By visiting different companies and potential investors (or even launching a crowdfunding campaign,) you can attract potential development and financing parties that regularly work in venture capital for innovative and creative projects.
Find Potential Clients
Reaching out and collaborating with reputable advertising and marketing companies in the film industry can boost your chances of finding potential clients. You should also use the Internet to market your indie film production company, especially on platforms like Facebook, YouTube, Instagram, and Google. Some of the top independent film production companies like 8180 Films have gained greater visibility and recognition in their films by investing in search marketing on the web.
Acquire Filming Equipment
For independent film production startups, it is advisable to acquire or rent filming equipment instead of purchasing it. This of course depends on the nature of your filmmaking business and how extensive you wish to take your production quality. Some award-winning independent film production companies still producing amazing films with minimal equipment and film production technology.
Because film production equipment, such as cameras, set lights, lenses, sound recorders, etc. are often hefty investments, renting or borrowing this type of equipment can be cost-effective for your business. Conversely, if you plan to produce high-quality films on a consistent basis, you may want to invest in such equipment for your independent film production startup.