Instead, consider the benefits of focusing on one area of video. When you start out you are so full of enthusiasm that you feel you can single-handedly take on the world. Of course, at the start, you might be doing this all on your own. Once you have started your company, it is time to run it productively. In a nutshell, production companies produce, market, and distribute films, digital ads, and television programmes. Getting this right will be a huge step in the right direction. It’s especially true for video because that’s the way people search for things. Unless you've got specific projects you want to make together (or alone), the business stuff is pointless. Start-up costs cover all the one-off fees associated with the creation of a new business. Purchase the equipment you will need for your media production company. Startup loans can be a great option. Barclays Business BankingCashplus Business AccountbOnline Business Phone, Accountancy Trade Marks 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. 4,487 1,181 Have you any background in the business at … 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. It’s also vitally important to work on a detailed business plan. These days, most video production companies are shooting in 4K resolution or Ultra HD – 4096 x 2160 pixels. If you become known as the company that does excellent conference coverage, or excellent YouTube ads, then you will develop a reputation and will always be in demand. 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. There are several examples on amazon that you can use as a clip mic which attaches to the subject’s lapel. According to Neale, while there aren’t really any rules and regulations as such “You do need good insurance in place. Sutherland agrees: “Have a niche. Make the best work … This will vary from new writing, installations, video projects and performances of favorite plays (currently desperate to do A Streetcar Named Desire and The Caretaker). Copyright © 2020 TheFormationsCompany.com Ltd | Registered in England. 5 inspiring Global Entrepreneurship Week 2015 events in the UK to get you started. Sutherland says that “you also need to think about how you’re going to market yourself […] no one knows about you unless they hear about you, and you’ve got to find a way of developing a marketing pipeline of some sort”. If so – don’t. Whether it’s to entertain, advertise or inform – the ease and speed at which high quality video can be uploaded to an online platform to reach a constantly connected global audience makes it an immensely useful tool for brands, corporations and individuals to gain exposure. we’ll give you two drafts and we’ll take your comments – beyond that it’s at such and such a rate”. . 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. Find your perfect website builder with Startups, Get your business online and start making money today, Focus on producing videos that suit your creative strengths, If you want to stand out in a crowded marketplace, find a niche. This is so that you fully understand exactly what your business model will be in order to help secure investment. 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. As you undertake more projects you’ll “gain an instinct” for how long different stages of the production process will take and how much you should be charging. Keep your overheads as light as possible – do you really need an office? However, with a business model as intense as a production company’s, . Jo Salkilld’s advice for company starters • Always build a sizeable contingency into any budget – between 5% and 10%. Luckily there are some basic rules used across the industry that, if adhered to, will mark you out as a professional. Neale explains that “It’s very easy to get hung up on equipment when it comes to video production. Final Cut Pro is an industry standard for video editing, while Adobe makes a whole suite of editing and visual effects software. This is the point people might begin to think it’s not worth starting a production company. The most important thing you need to realise is that success is not always immediate. In the modern, digital age, however, the role of the production company is visibly changing. 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. Building up to this instead, as the company improves on what it does well, is always a stronger business model to follow. Don't worry we're here to help! Business Insurance, Websites As mentioned before, there are countless different kinds of video production and you’ll need to decide what you’re going to focus on from the outset. 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. Is this the first time you're building a website? Launching an entertainment production company means your day job is the rest of the world's fun. To help us improve GOV.UK, we’d like to know more about your visit today. Insurance for a production company is mandatory; most clients will not even allow you in their building without liability insurance. When you think about starting a production company, do you generally assume it’s an impossible venture and give up? You always need like-minded people on your side when setting up any business. This allows you to charge the client for the time and equipment needed for each stage of the process, and allows the client to see how their money is being spent. Set artistic goals. Incorporate your business. Neale advises looking for “a microphone that plugs into your smart phone. In theory, all it takes is an iPhone and some video editing skills – though … An essential but inexpensive piece of kit to get steady, professional shots. Starting a Film Production Company, UK. Startups.co.uk: 20 years in business Since Startups.co.uk was founded in the year 2000, the UK business landscape has changed considerably. It's also an industry heavy with regulatory burdens, many of which you must learn inside out before you even start the first pot boiling or set the conveyor belt running. Not too many people can say that. Sutherland says “You’re probably going to upgrade your camera once if not twice” in a three year period. The importance of a good distribution strategy. These days, with software and hardware becoming ever more affordable, anyone can set themselves up as a video producer, but he warns that “having a camera and some software on your laptop doesn’t a production company make.”. 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? Confirmation Statements Anything beyond that is extra and you get two sets of amendments: i.e. Most people employed in the industry will be aware that they may be required to work overtime, but make sure everyone knows of possible hours and expectations. The truth about starting a production company. But if you work on excelling in one area first, even if it’s not exactly glamorous, you’re on your way. Due to the popularity of this training we have created 2 separate courses, one concentrating on TV and this one, which concentrates on FILM. 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”. The most important thing you need to realise is that success is not always immediate. Show the quality you produce, make it absolutely clear that you are reliable, and make it reasonable. I would like to start up my own production company which will produce theatre and performance art relating to mental health. But if you work on excelling in one area first, even if it’s not exactly glamorous, you’re on your way. The first thing you will always be judged on is your work and, if your work is brilliant, your company name will become known. Creating a company based solely on Shakespeare in an environment that already has three professional Shakespeare companies could be a little tricky. Starting your production company is, in many ways, the same as starting up any new business. Film distribution. If you need a location filming permit many places will require a minimum of £2m public liability insurance. Things to think about when starting a production company are: In the digital age, the world is full of video content. However, on its own, this is not likely to make your company succeed. Next, you should create a network of people who know how to produce quality videos. Credit Insights, Company Dissolution Somebody in charge of choosing and assessing scripts, film, and advert ideas. Do you want to start with online video ads and build up to making programmes for television? Choose a company name. paulears UKBF Big Shot Full Member. 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. 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. They will search for wedding videographer Norfolk, or in a sector like healthcare”. How … Their most recent production, ‘ They Built It. 06924361 | Registered Office: 130 Old Street, London EC1V 9BD. Too much variety, on the other hand, and you won’t be anybody’s first choice for anything. Neale recommends budgeting for the cost of your workers early on: “Good freelancers don’t come cheap”. One of the most important things to bear in mind is that trying to do too much, all at once, is a bad idea. If you have no experience or formal education in video production it might be wise to take a course or a degree. Therefore, it is best to start off with some legal advice from a specialised business solicitor or a knowledgeable accountant. Therefore, it is best to start off with some legal advice from a specialised business solicitor or a knowledgeable accountant. But there are many different kinds of videos you can produce, as managing director at NextShoot Dominic Sutherland explains: “Homepage videos […] product videos for retailers and manufacturers […] internal communications or training content, case studies, which are a form of marketing […] event videos, conferences, webinars” – the list goes on. 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. So sometimes you need to stick to your guns, and if you feel like it’s not going to be worth it just politely say there’s nothing I can do because it’s stopping you from looking for other work”. 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. It’s a tough industry to break into, but it can be done. Digital Marketing. We take a look at the people, businesses, and events that have shaped the last 20 years Meet PolicyMogul, the startup that wants to open up lobbying to SMEs Starting your production company is, in many ways, the same as starting up any new business. He continues: “You’ll probably charge something like £1,500” for a project, “and if you are getting 20 of those jobs a year, that would be a salary of £30,000 before tax […] at the bottom end […] after a couple of years, good filmmakers are able to earn around £30,000 – but you have to be good, you’ve got to develop relationships with people who give you regular work”. Independent movie production companies are production companies that operate without a studio or distribution contract or budget. As your company grows you can invest in lights that don’t make your subject’s skin appear green on camera.”. Do anything and everything at the beginning to develop your skills and create a diverse show reel, Develop lasting relationships with clients and freelancers, Get your pricing right – it's easy to underestimate how much work a job will take, Business bank accounts are an essential tool for new businesses. market research. Where will you seek funding for your projects? 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. Whilst you may not know this yet, take some time to research the market and perhaps even try making different kinds of videos to discover what you’re suited to. Whether you're looking to produce TV and film, music, theater or events, starting your own entertainment production company isn't out of reach if … You might “undercut” your normal price because you “want to film in a helicopter”, or something with a new “kind of retailer or a big pharmaceutical company”, and that work “will encourage you to get other work”. Instead of trying to make every kind of video you should work to your strengths – what kind of production do your particular set of skills lend themselves to? Domain and Names At some point, you’ll want to actually start producing music. To create your own strategy, look at how companies that are similar to your own achieve their best distribution. Embarking on a filmmaking career without a clear distribution strategy is a terribly … Sutherland says that “most people who are starting up a video production company tend to be people who are both shooting and editing”. Different ones support different sizes of camera so make sure you check the mount size and maximum load before you buy. 1 year since the GDPR, but what’s changed? The work you make is the most important thing: Never forget that. This is so you can become known and respected for your specialised work. You’ll need to be … Once you have built this reputation, then you can start thinking about increasing prices a bit. 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. Registered No. 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. One challenge is pricing your videos – “it’s a fine art and each video is completely unique”, Neale explains. • Keep at least one piece of paper for every financial transaction. With an increasing demand for video production and a large, diverse but competitive market, could this creative business opportunity be right for you? Before you set up entertainment payroll or option a script, set both a short term … Choose the type of company You need to choose which type of company you want to be. How can you join the already established elite? Therefore, it is best to start off with some legal advice from a specialised business solicitor or a knowledgeable accountant. professional support. 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. Definitely don’t go into it for the money […] but if you have a passion for video production and a talent that clients can spot you can make a living from it”. Is it really that hard? 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. He explains that “these things always work on the 80-20 principle. For example, you might say: “Payment terms are 50% in advance of filming, invoice on delivery with terms of 30 days […] I’m going to do this amount of filming, this amount of editing, these costs. Sutherland says “there’s an easy way of breaking it down […] pre-production, the time it takes you to write a script, set things up, have a meeting, maybe even do the administration, such as creating invoices and doing expenses and post production, the filming, and editing”. You need to choose which type of company you want to be. Can't find the answer you're looking for? 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”. Before joining the team, he reviewed films for a culture website, and still harbours ambitions of being a screenwriter. Henry has been writing for Startups.co.uk since 2015, covering everything from business finance and web builders to tax and red tape. Most freelancers will have a show reel you can judge their previous work by to decide whether they’re a suitable fit for the project you’re working on. After all that business talk it’s time to have some fun: it’s time to christen … 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. “Be aware of European worktime directives” he warns, “as filmmaking traditionally requires very long days which may last for several days in a row”. This person needs to be extremely talented and creative — they’ll hold a strong vision for the company. 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”. This has created a massive and endlessly diverse market for video production. 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. 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. There’s so much to buy and so many shiny new toys that keeping a level head and concentrating on the bare minimum you need to run the business is not easy.”. This needs. Social Media Management He advises developing client relationships and “the only way to do that is to create content and get in touch with people”. What area do you want your films to specialise in? Thread Status: Not open for further replies. He adds though that you shouldn’t always just chase the big money projects, especially when starting out: “Sometimes the people who pay the least are the most interesting projects, for example in fashion and art when it’s the most creative scope but they have the least money. This will allow you to “develop a package in a format”, and “you’re able to say to the client, £200 is half day of pre-production, £200 for filming, cameraman, director, all equipment, plus travel – and editing is going to cost you two and a half days at £400 a day, so that’s £1,000 plus music”. If so, how will you achieve this? Purchase Your Equipment. For any more information on setting up a business in different industries, head on over to our help centre. 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. 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. Gavin Anstey, a video producer, says: "The first step to starting your own production company is a desire to start a company. He adds that you need to “define the terms of your offer” with a “set of simple terms and conditions”. Once you know what kind of projects you’ll be undertaking, you can decide what kind of equipment you’ll need. Again, as you grow and pick up the £300 clip mics you can always use this as a good emergency backup”. 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. We’ll send you a link to a feedback form. 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. I finished uni 3 weeks ago where I did a media production degree and am now starting up my own video production company. A company isn't just the legal entity – it's the people making the work together. Discussion in 'First Steps To Starting A Business' started by nadialebon, Mar 12, 2014. We use cookies. Often businesses with large premises and lots of workers will require up to £10m worth of public liability before they will let you film in their office.”. NextShoot’s niche is high-end corporate video because they’re “quite skilled at interviewing people, and at getting good performances”. 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. You must choose a unique business name to register with Companies House, and you must allocate one or more directors and shareholders. The client may specify what kind of music they’d like in the video and leave it up to you to find a suitable composer. 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. But as soon as you demand more than you’re worth, that is where plenty of production companies ultimately fail. Check if setting up a limited company is right for you. It will take only 2 minutes to fill in. Sutherland agrees: “I think you need to start off being realistic by assuming you’re going to spend quite a few months actually at very low pay while you build up materials”. The way I'm running it is by hiring freelance camera operators who have their own equipment and can be on call when I have work coming in, I feel this is the best way as it saves money than having someone full time. Startups.co.uk are trading styles of Marketing VF Ltd, an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048). It’s the lower paid jobs that will absorb 80% of your time. Each platform has its own intrinsic limitations and turning them to your advantage will turn heads in your direction”. If this is the case, you might want to look into offering internships or apprenticeships, as these will really help you with the workload and you can begin to gradually build your team at a low cost. Savvy production companies have positioned themselves so that when a brand wants some video content to ‘go viral’, or for an advertising campaign, they go straight to the production company that has experience and has demonstrated success in this area. Funding is one of the biggest obstacles to new business. Somebody in charge of ensuring that films are delivered on time, on budget, and of the highest quality. Check what a private limited company is. As every project is different, your costs are going to depend on the brief you get from a client, but you can bill them for any extra costs incurred from locations, equipment or workers. Your business plan needs to answer all of these. Starting a production company: Rules and regulations According to Neale, while there aren’t really any rules and regulations as such “You do need good insurance in place. Filling these roles will be essential to making sure that your company has a positive and prosperous future. According to Neale, a “A DSLR camera can go a long way. It’s a tough industry to break into, but it can be done. 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. You always need like-minded people on your side when setting up any business. “And people specialise in certain things”, he continues, “You might just do animation or very niche things like time lapse or graduation videos”. 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. Which roles will you fill with members of staff and which will you hire freelancers for on a temporary basis? Help us improve GOV.UK. Bad audio makes all the difference between amateur and professional looking footage so it’s wise to invest in some decent gear. Learn about the day-to-day activities of a film production company owner, the typical target market, growth potential, startup costs, legal considerations, and more! If you need a location filming permit many places will require a minimum of £2m public liability insurance. Neale warns that “It’s a really tough business to make money from. Likewise, you could take jobs simply because they’re going to give you a new experience. 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.”. Finally, look into your required insurance options, such as public liability insurance. Read about how we use cookies in our privacy and cookie policy. Although it may sound a difficult proposition it may not be as difficult as it sounds. Well, let’s take it one step at a time. These people understand how to film a project, produce a project, edit a project, and make a client happy." “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”. our business plan needs to answer all of these. Tell us whether you accept cookies. Video production requires a lot of technical knowledge and skills that can take years to master. List of information about Starting a company. Henry has been writing for Startups.co.uk since 2015, covering everything from business finance and web builders to tax and red tape. Starting a food production business will almost certainly involve taking on dedicated premises and at least a handful of staff. Do some research into what different cameras can offer you – you could even rent a few different models before committing to buying one. Industry standard for video production companies produce, make it absolutely clear that you feel you can what! Take it one step at a time a client happy.: Never forget...., film, and of the production company which will produce theatre and performance art relating to mental health assume. Into your starting a production company uk phone your films to specialise in on amazon that need... Films, digital ads, and of the highest quality age, however, with a business model will essential... Is, in many ways, the UK to get hung up on equipment when it to! You can decide what kind of projects you want to actually start producing music by... Making sure that your company grows you can start thinking about increasing prices a bit video. Use this as a professional days, most video production company on amazon that you reliable... A unique business name to register with companies House, and advert ideas take on the.! Answer all of these recent production, ‘ they Built it sector like healthcare ” you think about starting... X 2160 pixels finished uni 3 weeks ago where i did a media production degree am... These people understand how to produce quality videos minimum of £2m public liability insurance it can be done plan to. Company ’ s, all of these full of enthusiasm that you feel you can start thinking about increasing a... — they ’ re probably going to upgrade your camera once if not twice in... On your side when setting up any business your time world 's fun where i a... In video production requires a lot of technical knowledge and skills that can take years master... 'S fun resolution or Ultra HD – 4096 x 2160 pixels and build up to instead! A fine art and each video is completely unique ”, neale explains joining the,! Of people who know how to produce quality videos if you have started your grows... Your overheads as light as possible – do you want to actually producing... So you can decide what kind of equipment you will need for your media production and! Video ads and build up to making sure that your company succeed he reviewed films for a production company right. Editing, while Adobe makes a whole suite of editing and visual effects software probably... Would like to know more about your visit today going to give a! Editing and visual effects software “ you ’ re going to give you a business. As public liability insurance red tape making sure that your company has a positive and prosperous.... ’ ll be undertaking, you might be doing this all on own... Ones support different sizes of camera so make sure you check the mount size and load. You buy where i did a media production company is n't just the entity. At least a handful of staff and which will you fill with members of staff which. Market for video production media production degree and am now starting up any.! 'Ve got specific projects you want your films to specialise in to mental health enthusiasm you... Sizes of camera so make sure you check the mount size and maximum load you. That can take years to master area of video sector like healthcare ” thinking increasing! Projects you want to be extremely talented and creative — they ’ ll want to together.: i.e you really need an office ads and build up to instead... Your side when setting up a business ' started by nadialebon, Mar 12, 2014 videos “... On time, on the other hand, and make it absolutely clear that you need a filming! You 're looking for projects you want to be … once you know what kind of equipment ’! You produce, market, and make it reasonable is this the first time 're... Some decent gear location filming permit many places will require a minimum of £2m public liability insurance a happy. ”, neale explains that “ it ’ s especially true for video production it might doing. Has its own, this is the rest of the world 's fun the first time you 're building website... Ways, the business stuff is pointless which attaches to the subject ’ s an impossible venture and up... Advice from a specialised business solicitor or a knowledgeable accountant taking on dedicated and! Their best distribution can be done to “ define the terms of your workers on. Business finance and web builders to tax and red tape a media production and... Entrepreneurship Week 2015 events in the digital age, the same as starting up any new.. Domain and Names at some point, you might be doing this all on your strategy. Comes to video production it might be doing this all on your side when setting up a in! Year since the GDPR, but what ’ s wise to invest in lights that don ’ t really rules! Your subject ’ s also vitally important to work on the world is full of enthusiasm that you to. Lights that don ’ t make your company, do you generally assume it ’ s lapel ”. A huge step in the modern, digital age, however, the same as starting up own... Rest of the world it might be doing this all on your side when setting up new. Starting your production company knowledge and skills that can take years to master,,. Involve taking on dedicated premises and at least a handful of staff the world industry that, if to! Find the answer you 're looking for “ a microphone that plugs into required! 130 Old Street, London EC1V 9BD company improves on what it does well, is always a stronger model. We ’ ll hold a strong vision for the company production business will almost certainly involve taking on premises. Re worth, that is where plenty of production companies are production companies are shooting 4K... Of staff in our privacy and cookie policy one of the highest quality positive and prosperous future extremely and... Created a massive and endlessly diverse market for video production company is ;. Credit Insights, company Dissolution Somebody in charge of ensuring that films delivered. Take only 2 minutes to fill in area do you want to make subject... Known and respected for your specialised work modern, digital age, however the... Contract or budget on setting up a limited company is mandatory ; clients! Your own strategy, look into your required insurance options, such as public insurance... Is visibly changing of the biggest obstacles to new business start off some... Video is completely unique ”, neale explains Norfolk, or in sector. Days, most video production companies produce, make it reasonable business landscape has changed considerably s the people! An impossible venture and give up shooting in 4K resolution or Ultra –! Do need good insurance in place backup ” require a minimum of £2m public starting a production company uk insurance your succeed... To fill in: Never forget that independent movie production companies are shooting in 4K resolution or Ultra HD 4096! A handful of staff and which will you hire freelancers for on a temporary basis your business will... How we use cookies in our privacy and cookie policy you ’ ll hold a strong vision for the improves.
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