Before you can get your manufacturing company up and running, it is essential to have a clear business plan. Starting a production company can be a daunting task, but if you follow these steps compiled with the help of production companies in Milan you can set your company up for success .
1. Seek funding.
To grow you will need money. Unless you're independently wealthy, you'll likely need to use your business plan to get a small business loan or reach out to investors . Make sure the risk isn't so great that it leads to financial ruin if things don't work out.
2. Get your documents in order.
When you're in charge of your own film production company, you're responsible for a lot of day-to-day minutiae . You will need to set up a business bank account, obtain an employer identification number from the IRS, and file an operating agreement. Depending on where your business is located, states and municipalities may require business licenses and typically charge annual business taxes.
3. Assemble a top-level leadership team.
Great ideas tend to come from teams of people, so you'll need to look for employees to help you turn your ideas into reality. We recommend hiring four positions for your executive team: a head of development (decides which scripts to produce and will lead the creative team), a head of production (responsible for the budget and the production process), a head of post-production ( oversees the editing process) and a distribution manager (responsible for marketing and selling content). Other creative director positions such as writers, actors, directors, and cinematographers are usually hired on a per-project basis.
4. Hire a production accountant.
Entertainment payroll is a complicated job, so you will need a certified accountant trained in entertainment financing to take care of the company's accounting.
- Take out insurance. Accidents happen in film production, from crew members slipping on set to stuntmen injuring themselves during dangerous shoots . In case of unexpected accidents, you will need a good insurance policy to protect you.
- Produce conceptual design drafts. When your company is starting out, you may want to produce a few short, economical drafts to showcase your company's voice and your team's capabilities. Short films and pilot TV presentations can be tools that convince studios and investors to fund projects.
- Build a website and create a social media presence. Everyone needs to be able to find your business online, so hire a web designer to create a simple but informative website. Less is usually more with production company websites: contact information and brief examples of your work are typically all you need. It's important to have a good social media presence as well , but until your business expands you may not need to hire someone specifically to manage your social pages.
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