All you need to know about production companies before starting your own
Production companies are the backbone of the film industry, it helps in providing all sorts of help that is required while making of the film. This includes managing the budgets, raising the funds for the production of the movie. The arrangement of the staff, marketing or promotion of the movie and many other tasks are under the supervision of production companies. Many film services production companies in India are helping the directors in completing the movies on time.
Production companies are either owned by someone or maybe under the contract with an entertainment company or film studio or Motion picture company or parent company.
In case if you are planning to open your own production company or production house, then you must take each step in a very controlled way.
Here are some of the tips that can guide you in a better way before starting your dream production studio:
- Know what you want to do
The entertainment industry is a big industry, so it becomes necessary to know in which area you want to spend your time and money in. You can make your investment in the films or on the commercials or the industrial area, etc. So, it is very important to make a to-do list, which is going to give you a better picture if what all is required.
- Research in a very concise manner
You must have heard of saying that researching can do wonders for you, then you have heard it right. Industrial work and commercial work is a competitive area in which researching is the key, as it can guide you with whom all are doing the same type of work. Plus you can pay attention where they were lacking, and from there you can avoid making that same mistake. Another thing you must take care of is, whatever is your strength, focus on that and offer your service after researching thoroughly.
- Think out of the box while naming and it should be legal
While naming your production company, keep one thing in your mind that, the name you choose will eventually become your brand. So, it is very important before selecting a name. You also have to ensure that it is original and not copied, because the moment you are found to be doing copying then it is going to badly affect your image. For instance, if your competitor is having nearly the same name as that of yours, then remember this, you will not be given complete credit. Ensure that not only the name but also the services offered by you is unmatchable.
- What type of company you want to become?
There are different categories in which the companies are classified or get divided into. For example, there are companies which come under the class of LLC category, while there are some companies which fall under the LLP class. Some other types under which the companies get divided into are C-Corp, S-Corp and many others. If in case you have to started to wonder what on earth these classification of companies are all about? Then you need to research and complete information, as to you never know in which category your company is going to be classified.
- Hire a certified public accountant
Once you have come up with the name of your company and what type of services you are going to provide, the next step is to find someone who can look after your accounts. As they can help you out in navigating the world and how you can earn benefit at minimum expenditure. They can also guide you with how the investment should be done to get maximum benefits in return. Finding the right CPA is not an easy task, the simplest way you can get to the right match, is sit with them and understand, whether they are going to be a perfect match for you not. To ease your process of searching you can take the help of Google CPA.
- An effective business plan
It is very important to have a vision before starting a new business. But do you know what is the most important thing before working on your business? Well, here is the answer it is the business plan, and production is not an alien thing that it will not be part of the business plan.
Prepare a layout with a definite aim or goal of the company that is going to help you to run your company with a complete focus on it.
- Start-up capital
Believe it or not, without money you can’t do a thing, and for starting a business it becomes even more important to lump some amount of funds. If you are willing to make your dream come true then it is very important to have a good source of loan. There are venture capitalists who are planning to expand their portfolio can come out to be of a great source of relief. In short, the power of great investors can not only help you out in establishing your production company, but they are also eager to grow along with you sharing the profit.
- Follow the marketing strategy honestly
If you are a newbie, then promotion is the key to spread the word about your production company. Marketing undoubtedly has immense potential in turning you from a zero to a hero. And this can be done at cheaper rates by establishing your presence via digital means. The social media platforms are not only meant for creating a hype about you, but it can also help you in creating a big history in your life.
There are some other things that you must take care of is choosing the right person, who can help you out with the logistics area, location help and many other things. They are referred to as film fixers in India, who can prove to be of a great source of help.
This was all about how easily you can start your production house in India.