How to Start a Talent Agency in Los Angeles
The William Morris Agency, Creative Artists Agency and Paradigm are among the top agencies in Los Angeles. These agencies are responsible for finding work for some of Hollywood's biggest stars as well as lesser-known talent. You do not have to start off with dozens of agents to begin finding work for talented individuals. According to Losangeles.com, millions of visitors come to Los Angeles each year to pursue careers in the entertainment industry. Pilot season, the period in which the major networks produce new television shows (from January to April) is an opportune time for actors, in particular, to move to Los Angeles. Starting a talent agency is much like starting any other business. However, there are some special considerations given that the entertainment industry accounts for much of Los Angeles' economy.
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Things You'll Need
- Computer with internet access
- Money (minimum of $1,031)
- Office space
- Entertainment resume
- Surety bond
- Bank statements and financial documents (credit reports, business transactions, etc.)
- Letters of recommendation
- Company letterhead
- Account letter from financial lender
Instructions
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Setting Up the Business
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Figure out why you want to become an agent. If possible, talk to agents you know to discuss the entertainment business and to gauge what they do on a daily basis. Become familiar with casting directors and producers in the Los Angeles area through networking events. Attend events such as Actorfest--held each year in Los Angeles--to begin meeting actors (see Resources).
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Register an account with Losangelesworks.com, which offers a "Business Startup Organizer." As recommended by the Mayor's Office, create a business plan that highlights your goals, expenses and the legal structure of your business (sole-proprietorship or limited liability corporation). Register your business with Los Angeles' Office of the County Clerk. Bring $31.00 for the initial filing fee to receive your fictitious business name certificate as of 2010.
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Search for property or an office space in Los Angeles using the city's Zone Information and Map Access System (see Resources). Contact the city's Asset Management Office at 213-922-8500 if you are interested in buying or leasing city property. Log on to Losangelesworks.com, click on Business Services and then "Incentive Finder." Complete the form to see what business incentives you are eligible to receive.
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Contact a number of organizations--including the Small Business Administration, California Capital Access Program and the California Loan Guarantee Program (see Resources) to receive additional funding. After receiving funding, purchase or lease your property. (You may also do this before receiving outside financing).
Become Franchised
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Contact a surety bond company and set up a meeting with an agent. Bring your business plan along with important financial documents such as bank statements and any evidence that demonstrates financial responsibility. Also, have a minimum of $1,000 to put down on a $50,000 surety bond, which is required by the Screen Actor's Guild. Sign the company's indemnity agreement and be sure to get a copy of your bond.
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Contact the Los Angeles offices of the Screen Actor's Guild and the American Federation of Television and Radio Artists (see Resources). Request their "Agency Franchise Application" along with their agency regulations. Attach a resume of your experience in the entertainment business--professional and amateur.
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Include three letters of recommendation from individuals in the entertainment industry (actors, singers, casting directors, producers, etc.) Also, include a letter from your financial organization (lender) on their letterhead stating your account name and number.
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On company letterhead, submit your agency's ownership breakdown. State in the letter whether you are a sole proprietor. Include a copy of your surety bond. Mail your application to the Screen Actors Guild's Agency Department (see Resources)
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Tips & Warnings
It is recommended that you have a minimum of a year's experience in the entertainment industry.
Most talent agents work with actors and models in Los Angeles.
Never ask for money up front from talent. It is considered illegal and not endorsed by the unions by which you are franchised.
Competition is equally fierce in Los Angeles among agents as well. Many of the larger agents are called by casting directors, producers and studio executives.
