Video production services comprise wedding and party videography, corporate videos, and commercial projects. Although there’s no limit to the sorts of projects video production companies can undertake, specializing in a single area or another can significantly assist marketing efforts. Specializing will allow you to build a brand that can grow to become the bread-and-butter of your organization’s revenue stream. Companies that serve the community usually maintain one or two owner-staff who typically do all the work from the production work, editing to marketing. Take the following factors into consideration before launching a video production company.
Draft a business plan describing your video production goal, the amount of experience you’ve got as a producer, and a marketing plan. Make sure you have included details of the equipment you already have and know how to use as well as a budget to meet the needs of items you require to be self-sufficient, like lighting equipment, duplicators, and editing systems for video production.
Business entity. As a sole proprietor, you will need to file for an assumed name statement with the county clerk or file incorporation or limited liability company documentation with the Secretary of State. Acquire a tax ID from the IRS by filing Form SS-4, which can be found at IRS.gov.
Buy your equipment. Video producers usually have more than two cameras, a standard lighting set, wireless microphones, Adobe Premier for editing, and several camera lenses. Depending on the quality of the equipment, to get a full setup for your video production business, it will cost you at least $15,000, while high-end equipment costs can reach hundreds of thousands.
Create a website, design a logo, and business card to represent your brand as a video production company.
Make a reel showing your past work. A reel is basically a video compilation of what you’ve already done and is supposed to be around three to five minutes long. Make you have used the most creative angles and the best camera shots to show your keen eye for capturing special moments. If you don’t have any work experience, you can use, head out, and shoot stuff with the equipment you have to create a production library.
Make a service price list. In most cases, the criteria used can either be hourly or on a ‘per production’ basis. Offer all-inclusive packages as well as services like video duplication or family video editing.
Post the reel on your webpage and produce DVD copies of the reel to handout to potential clients together with a business card—network with corporate HR divisions, school drama departments, and wedding photographers.