What Do I Need to Start a Production Company?

Build a production company one project at a time.

A production company doesn't have to have James Cameron's expense budget to create a quality production. Thanks to technological advances and market competition, the cost to run a production company have been significantly reduced. With a few pieces of equipment and a plan, you can start your own production company.

Business Plan

In the business plan you will explain what types of productions you will specialize in, such as music videos, commercials, movies, etc. Sara Caldwell writes in the book "Jumpstart Your Awesome Film Production Company," that you need to project your expenses and be clear on the direction of your production company venture. She explains that in the production industry there is a great deal of temptation to try the next best thing in production equipment or follow a hot new production style. To avoid getting sucked into trends that could sink your business, set goals and plan ahead.

Financing

Production companies can be funded by a number of ways depending on the intended distribution method. If you will be producing commercials or similar vehicles where employers will hire you to produce, then your start up costs can be limited to the equipment you will need and advertising methods to generate corporate clients. You can bill them up front for your additional expenses. For film productions or straight-to-video where your success will be based on consumer interest, you will need to submit your business plan to angel investors, family, friends or others who have an interest in the arts.

Production Equipment

You will need cameras, microphones and lighting equipment. You can rent all this equipment with a credit card from a video camera rental retailer, or you can purchase it to own. To reduce costs, find used equipment on auction sites or in classified ads. In the "Video Production Handbook," Gerald Millerson and Jim Owens write that your choice in equipment is determined by the medium in which it will be consumed, your budget and your production style and tastes.

Talent and Crew

By far, the easiest thing you will do when you start your production company is find talent and crew. For example, simply posting your casting call online with sites like Craigslist should get responses. Film school students are always looking to boost their resumes. Post help requests at local colleges and universities.

Editing Suite

A lot of the mistakes you make during the filming stage of production can be cleaned up during the editing phase. In the old days, productions were edited by physically cutting the negatives. Since then, non-linear editing can be performed on computers. You will need a powerful desktop and editing software such as Apple's Final Cut Pro, Adobe Premiere or Avid.

References

• "Video Production Handbook"; Gerald Millerson, Jim Owens; 2008
• "Jumpstart Your Awesome Film Production Company"; Sara Caldwell; 2005