Starting Your Own Production Company: 5 Things You Absolutely Need to Know

There are dozens of film production and distribution companies in the state of California alone. Globally, there are hundreds…
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There are dozens of film production and distribution companies in the state of California alone. Globally, there are hundreds of film production companies. In order to effectively enter the marketplace and compete, you need to have a sound business strategy. There are also several crucial things you must know in order to effectively establish your film production company.

1. What Your Focus Will Be

The production companies that generate the highest revenues have a wide mandate. They can invest in blockbuster films that feature the latest special effects and most popular actors in the industry. Other production companies have established themselves by focusing on specific genres, such as horror. They work to attract new talent and stars who are on the rise. Their genre focus enables them to tailor their marketing to their targeted audience. Determine what type of movies you want to make and prioritize works that fall within your mandate. You can build both a loyal team of industry professionals who want to work with you and a loyal viewing audience by delivering exceptional products consistently.

2. Legalities of Filming

Making a movie involves more than grabbing a camera and shooting scenes. You need to know how to scout locations and acquire the permits and permission needed to film in specific places. It’s important to understand what kind of liability insurance you need in case someone is injured while filming. There are also specific location-based laws that can impact your business. For example, a new California law called AB 5 has limited the number of projects freelancers can work on for anyone business during a calendar year. The law’s goal is to push companies to hire staff instead of contractors. A clear understanding of the law is essential to avoid fines and other issues that can arise if you exceed the number of annual contract limits the law imposes.

3. Which Agencies to Work With

Actors and actresses are represented by agents. There are also agencies that offer services you will need. Writers may be protected by a guild or other organization. It is important to understand which professionals have established themselves within the industry and have a good reputation. When it comes time to make your movie you will want to turn to a videography agency in Los Angeles with excellent work history to ensure the quality of the work is excellent. When you’re preparing a script you will also want to know how to recruit the best writers. Developing contacts and referrals is crucial to your success in the film industry.

4. How to Attract Talent

You need to know who to reach out to in order to contract talented professionals, but that is only part of the hiring equation. In order to secure the most talented professionals, your company needs to establish its reputation. If you are known for treating staff well and producing quality material then professionals will want to work with you. It’s also important that you know where and when to host auditions and interviews. They need to be in good locations that people in the film industry will be able to access. It’s also crucial that you know how to publicize your auditions so that professionals are aware of your upcoming openings and plan to compete for roles.

5. Professionals You Need on Retainer

Developing a network of industry contacts can make the difference between shutting down production and completing on time. For example, if you have cameramen who get sick or are injured you may need to call in replacements. You also need to have set designers and costume designers who can produce professional products within your budget. Keep personal injury attorneys in Bakersfield on retainer so that you can get legal advice if you’re concerned about potential film locations other potential set hazards. It’s also essential that you have a marketing team on retainer so that they can develop a promotional strategy as soon as your films are ready for distribution.