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How to start a production company
Mary Aloe is aware that starting a production company takes drive,
initiative, marketing savvy and prior experience with film, video or
music production projects. For those who wish to venture into film and
television production, a background in screenwriting
will also prove highly beneficial. Mary Aloe explains that production
companies are formed by sole proprietors who have adequate financial
resources or through business partnerships that pool resources from
themselves and outside investors.
Mary Aloe knows that if anyone interested in starting a production
company should first work towards accumulating experience and knowledge
about the field. This will also help to establish industry contacts,
which are absolutely essential to gaining proper exposure to potential
artists, resources and promotional outlets. It is also important to
develop a business plan and focus on a specific genre.
Mary Aloe recognizes that when developing a business plan and genre
focus involves determining what types of productions the company will
specialize in — for example, short films versus features or reality television versus sitcoms.
Part of the business plan's development will include identifying a
target audience, methods of distribution, and promotional and talent
acquisition methods. Mary Aloe goes on to explain that when starting a
production company it is also a good idea to decide whether it will be
run by a single individual or become a partnership.
Mary Aloe sheds light that acquiring business partners and,
consequently, additional sources of startup funding can be a more viable
option when starting a production company. Partnerships broaden the
types of professional projects that a company can take on since
financial and human capital resources are broadened. Mary Aloe knows
that creative ideas might flourish more freely in a collaborative
environment and each partner may be able to lend different areas of
expertise that would otherwise be available. For example, one partner
may be an excellent screenwriter while another might have more industry
contracts and marketing know-how.
Once the foundations of how the production company will be run are
decided, it is important to assess what resources will need to be
acquired. Goals and objectives should be put in writing. Those involved
in starting a production company should also determine the amount of
outside funding that will be required. Putting a business plan into
writing, with potential return on investment figures will be crucial to
Besides seeking individual and corporate investors, production company
hopefuls should also seek out creative grants and sponsorships. A
business plan should account for this type of funding and should also
include potential employees, contractors and expenses. The use of
studios, film and video equipment, and expenses for prop materials,
salaries, benefits, and promotional activity should all be figured in.
As with any business, it is recommended that legal formation options be
looked into. Mary Aloe recognizes that registering the company with local authorities and
acquiring any necessary licenses is another essential step.
Mary Aloe states that promotion of the company is one of the more
challenging aspects of starting a production company. Unconventional
methods, such as social media marketing, will generally be just as
beneficial as local advertisements and word-of-mouth methods. Developing
an online presence through a professional web page with a portfolio of
past work is an additional marketing tactic.