If creative storytelling is your passion and you are a techie as well, then putting up a video production business can be right for you. Aside from doing the tasks that you love to do, having your own video production company is a modest source of income, too. Another benefit of having your own business is the flexibility of your working schedule.
You don’t need a big capital to launch a video production company. You can use the power of the internet to advertise your business. Having a degree in mass communication, speech and theater arts, or other art related courses can be very helpful. Aside from the right course, a good experience through an internship is a great way to jump start your business.
Here are the steps to establish your own video production company:
- Know what type of company you will create. You need to decide whether you want to go solo or a partnership; full-service company or per project basis. For example, do you want to have a specific office with permanent office hours or you can just stay home, meet a client somewhere, and work on the project? Also, determine what kinds of video you are going to make. For instance, do you want to focus on events coverage or do you want to create company and marketing videos?
- Draft a business plan that will cover your short and long-term goal. It should also itemize the projected expenses for all your operational need such as rent for your workplace, equipment, software, utilities, transportation, communication, payroll, insurance, and on-site coverage expenses. Creating a business plan is very important for you to determine if your chosen business really has the potential to grow in the future.
- Start processing the documents needed to register your business. You need to get a business license from your state registrar’s office. Before they process your request for business permits, you need to pay the applicable fee. Once you have the permit, you can start to market your business.
- Promote your business by distributing flyers to local companies, schools, government institutions, shops, small stores, and different establishments. You can also place an advertisement in local newspapers or on your social networking sites. Join different community clubs so that you can meet more people which can be potential clients later on. In addition, you can also create your company website where you will introduce your company, its mission, services, and rates.