How to open my own production company?

[Ruiz Kelly]

Step 1
Identify what type of video projects you want to produce and how you want to structure your business. Sarah Caldwell, author of "Jumpstart Your Awesome Film Production Company," explains that you can go solo, form a partnership, become a full-service company or work on a project-specific basis. If, for example, your videography focus is on weddings and special events, you could probably get by with being a one-person operation. In contrast, project-specific contracts such as documentaries or PR campaigns may require you to recruit different talents for short-term assignments. Partnerships are generally practical as a way to pool resources and expand the scope of services you can provide your target demographic.
Step 2
Draft a business plan that addresses your short- and long-term goals for the company, projected expenses for a soundproof studio workspace, equipment, utilities, software, telecommunications, transportation, insurance, payroll and marketing. The more detailed and realistic your business plan, the greater likelihood of receiving grant money, commercial loans and startup capital from investors to put your dreams into action, says Gunnar Erickson, author of "The Independent Film Producer's Survival Guide: A Business and Legal Sourcebook." Discuss with your attorney the advantages of being a limited liability company vs. a sole proprietorship to protect your personal assets.
Step 3
Choose a name for your video production company and register it with your state's registrar agency. You'll also need to acquire a business license by paying the applicable fees, posting a doing-business-as ad in the local paper and opening a business bank account. Design a professional website that describes your services, lists your rates and fees and provides sample clips of your work. In addition to shooting live footage for your clients, you may also want to include copying DVD's, creating digital photo albums and assisting in scriptwriting. Use online print companies, such as VistaPrint, to create your business cards, postcards and brochure mailers.
Step 4
Promote your video production business by writing articles and blogs, distributing your cards and brochures to local companies, nonprofits, schools and print shops, placing ads in local newspapers, and utilizing social networking channels. Join your city's chamber of commerce and get on the speakers' roster for neighborhood clubs to chat about what you do. Trade banners with vendors in related industries.