The Beginner’s Guide to Starting a Production Company

Launching your own production company can seem like an overwhelming project, especially if you’ve never done it before, but it doesn’t have to be that way. 

This guide on how to start a production company will help you get started by walking you through each step of the process. From researching your local laws and permits to finding the right location and constructing sets to completing the accounting paperwork once your business is up and running –  all these bases are covered.

11 Steps You Should Follow Before Starting a Production Company

Read on to know what factors you should focus on before starting a production company.

• Choose a Niche

If you’re thinking about starting your own production company, make sure it’s something you’re passionate about. It takes an enormous amount of time and effort to build a successful business, so if you aren’t excited about what your company does, it will be difficult to convince others (and yourself) that you can make it work.

1. Research 

Research what kind of production company you want to run. You can also see how other companies are being run and use them as inspiration for your company. Doing research will give you an idea about what steps you need to take in order for your business plan to work and be effective.

 

• Decide On An Industry

Keep in mind that every industry has its own particular production needs, but for most companies, it’s essential to at least understand how lighting and sound work. You don’t have to be an expert—just familiar enough so you don’t make basic mistakes when choosing equipment. 

Take time to observe and listen to live events, like plays or concerts, so you can identify what kind of equipment they use and how they set it up. Or, talk to experts.

 

• Set Up the Office Space

When you’re starting a production company, your main requirement is space. Before you do anything else, you need an office. After that you will be able to focus on other aspects including scouting locations, promoting your company, or beginning pre-production on any level. 

You may be able to operate from home for a while, but soon enough your business is going to need room for growth. A professional office is mandatory for long-term success. The office also serves as your company’s headquarters and it’s where clients will come to meet with you and/or one of your colleagues.

 

• Find Investors

In order to make your movie, you need money! This is why it’s important to take your time and find investors who will support your project. If you can’t find investors, you can still start up your own production company or even bankroll it yourself. But before doing so, do your research and make sure that investors have the same vision as yours.

 

• Determine the Initial Budget

What are your bare essentials? If you are unsure, then do some research on production to learn more. You can read books on it, watch free online tutorials, and consult an expert who can tell you more about it. 

The basic pieces of equipment are a camera, lights, gaffer tape, and microphones because these will directly affect your filming quality. In short, if you want quality videos or movies made by your company, then you first need to purchase high-quality equipment so that you can avoid buying extras later on.

 

• Find Talent

Hiring is an important and expensive part of filmmaking. If you can, work with people you already know – some sort of existing relationship will make it easier for you both to be candid about your strengths and weaknesses. 

You can easily find good talent on the internet. Check out sites like LinkedIn, try posting on Craigslist, or shoot an email to friends and colleagues asking if they know anyone that might fit your needs.

 

• Build Your Clientele

The key to getting new clients is having an online presence. You need an online portfolio that showcases your work to make your production business stand out from the crowd. 

If you don’t have one, create one now. On your portfolio site, be sure you include links to your social media accounts, like Twitter and Facebook. These platforms are particularly helpful in connecting with other creative professionals looking for collaborators on projects.

 

• Network With Industry Professionals

A great way to gain more insights and get an early look at new business opportunities is by networking with your colleagues. Join groups in your industry on LinkedIn, attend industry events, or read industry publications. If you haven’t already started doing these things, it’s never too late to start!

 

• Build Relationships and Shoot Projects!

Perhaps it would be a good idea for you to ask your potential mentors and other industry professionals: “Do you have any projects that I can shoot in order to build my portfolio?” If they do not, simply tell them how much you would love to work with them and that once your portfolio is built, you will be shooting projects with them.

 

• Get Permits and File Taxes

You need to determine what types of taxes you will be paying and to whom. These include sales tax, income tax, property tax, and state unemployment insurance. 

If your company has employees, then workers’ compensation insurance might also be required. For this, it is important that you meet with an accountant who is experienced in film and television productions before even starting a production company.

Final Thoughts

This article has covered the basic information that you need in order to start your own production company and begin making money quickly and easily. 

Use these eleven steps as your guide to starting a production company so that you don’t stumble upon unpleasant surprises.

Here’s wishing you a successful debut in TV and film production!

FAQs

 

• How do you set up finances for starting a production company?

Your company’s financial foundation is one of its most important aspects, but it’s often overlooked. Without accounts in place, you may not be able to pay yourself and your employees, get bank loans or accept credit cards from clients. Setting up these basics will help ensure your business runs smoothly and efficiently.

 

• How to get the first client for my company?

This may be one of your biggest challenges. Finding and landing your first client as a newbie in business is tough but not impossible. If you already have experience producing content for clients, it’s easy to leverage those relationships into more business. 

Otherwise, go after smaller clients who can benefit from your services. Although these may not pay as well, starting small with manageable projects will help you get your feet wet.