With videography being one of the fastest-growing creative markets, film professionals are looking to set up their own video production companies.

Film production companies, such as LA Video production, create films for a great variety of clients.

If you are a videographer and you want to take your filmmaking skills to the next level, then starting your own video production company is the most lucrative option.

In this article, we explain how to set up your own video production business and what you need to get started.

What Does A Video Production Company Do?

A film and video production company produces any type of film, including music videos, documentaries, movies and television shows.

Some of these companies specialize in one genre, while others offer a wide range of different video production services.

A film production company is fully involved in the entire production process, including pre-production, the production itself and post-production.

These companies either produce their own movies or films, or they get hired by a client to produce a film according to a production brief.

How To Start A Video Production Company

In order to set up a video production company, you will need to gain some experience in the film industry.

Ideally, you want to work for a variety of production companies before you start your own. This will give you valuable experience and insight into what it takes to run your own film business.

This being said, you can also start your own video production company without a lot of previous experience and learn on the job.

Here are the most important steps you need to take to set up a successful video production company as a videographer or film professional.

1. Find Your Production Niche

Before you start setting up your business, it is a good idea to determine what types of videos you want to produce. This could be a specific genre or style that you are interested in.

Ideally, you should already have some experience in making this type of film as this can be useful when you’re promoting your video production company.

For example, a popular videography niche is wedding or event videography. But there are also horror movies, action or romance films.

You can also decide to focus on advertising campaigns. Marketing agencies and individual businesses are always looking for good-quality videos to promote their products.

With a clear understanding of your business’ film identity, you can then decide what products you and your team want to produce.

Specializing in a specific video niche also makes it easier to attract clients.

2. Find A Name For Your New Company

Next, you will need to find a suitable name for your video production company. Your company name and logo should match your company’s identity.

It should be memorable and meaningful to you and your chosen film niche.

3.  Put Together A Business Plan

Starting a video production company means that you set up a business. This requires you to create a business plan with short-term and long-term goals.

Your business plan should also include your target profit and any expected expenses, including equipment costs, rental space, utilities, payroll and salary, taxes and marketing costs.

A realistic business plan means that you are well prepared for getting your business off the ground.

4. Secure Funding

You will need a large sum of money to start your own video production company. Unless you have a cash sum available, your start-up money comes from funding initiatives.

For example, you can apply for a small business loan or grant money with a well-written business plan.

Alternatively, you can also use crowdfunding to raise money for your new business. If you are well-connected in the film industry, then you may also want to approach investors.

5. Register Your Business And Hire An Attorney

In order to make your company a legal entity, you will need to officially register the business.

There are a lot of steps to complete for setting up your business legally, from registering a trademark and opening a business bank account to organizing business taxes.

That’s why it’s a good idea to hire an attorney who is specialized in business law. He will be able to advise you on what you need to do to get your business license and any legal costs.

6. Purchase Videography Equipment

Now that you sorted all the paperwork for your new business, it is time to buy the basic equipment.

If you don’t have enough money yet to buy all your videography equipment, then you can also rent audio systems, cameras and lighting for a while.

Renting can be a practical option for the first couple of years as film equipment and video technology are updated frequently.

Once you have enough money to fund your equipment, then you can buy everything you need to run your business, including basic business hardware, such as laptops and printers.

7. Buy Video Production Insurance

With so many people around on set, accidents easily happen. That’s when you need a good insurance policy that includes liability insurance.

8. Set Up Your Online Presence

The majority of clients looking for a new videographer either find a business through referrals or online.

That’s why it is essential that you have a website and a variety of social media accounts.

Make sure you add your contact information and your recent work, so potential clients can see what you produce. Adam Fields, for example, has a whole site dedicated to showcasing his production work. From Donnie Darko to The Breakfast Club and Great Balls of Fire, Fields has an incredible portfolio, but even famous producers need a website to build their online presence.

9. Build Your Team

Most small video production companies start off with one employee: you as the owner. However, this doesn’t mean that you can’t get help.

Make sure that you build a network of contract and freelance videographers, producers and editors who can help you complete a video project.

This being said, as your video production company grows, you will need to hire staff who look after the production and development of your film projects.

You will also need to employ an accountant and other staff who are looking after the administrative side of your business.

10. Determine Your Price

Set a realistic price for each of your video production services. It’s a good idea to take a look at competitor pricing.

Make sure that you cover your production costs and identify a margin that you want to retain as profit.

11. Create A Project Portfolio

Once you set up your videography company, you can start producing your first films and videos.

It’s essential to start with high-quality original work that you can show to potential clients and investors.

This could be short films, samples or proof-of-concept projects. Ensure that you also share these videos on your social media accounts and your website.

12. Network As Much As Possible

Every start-up business lives through connections. Networking allows you to spread the word about your new company and you can connect with new potential clients.

Plus, you may even find new projects and collaborations through your professional network.

Go to industry events, don’t miss a film festival and join online filmmaking communities.

Your local chamber of commerce can also be a good starting point for networking with other business owners.

13. Promote Your Videography Business

Just like networking, you need to continually promote your video production company throughout the film community.

This could be advertising in local newspapers, engaging with your fans on social media, giving out your business cards at events and sharing your work on online video platforms.

Final Thoughts

Starting your own video production company is an exciting opportunity to take your professional videography experience to the next level.