Starting a video production company

[ETM-World Wide Media]

Hi Everyone,

I've just singed up today and thought I would get started .

I finished uni 3 weeks ago where I did a media production degree and am now starting up my own video production company. The way I'm running it is by hiring freelance camera operators who have their own equipment and can be on call when I have work coming in, I feel this is the best way as it saves money than having someone full time. I have my first corporate shoot with a b2b advertising agency at the end of the month which I'm charging £1,200 for and £855 is profit which I think isn't a bad start. What I need some advice on is how to sell my services to potential clients, video production is quite costly and I'm providing the cheapest in the area but just don't know the best way to attract them. Main area is b2b so just need a few tips on promoting myself to businesses and if there are people I can hire to find work for me out there?

If anyone could it that would be great.

Luke

 

[InternetMarketingPlatinum]

Hi Everyone,

I've just singed up today and thought I would get started .

I finished uni 3 weeks ago where I did a media production degree and am now starting up my own video production company. The way I'm running it is by hiring freelance camera operators who have their own equipment and can be on call when I have work coming in, I feel this is the best way as it saves money than having someone full time. I have my first corporate shoot with a b2b advertising agency at the end of the month which I'm charging £1,200 for and £855 is profit which I think isn't a bad start. What I need some advice on is how to sell my services to potential clients, video production is quite costly and I'm providing the cheapest in the area but just don't know the best way to attract them. Main area is b2b so just need a few tips on promoting myself to businesses and if there are people I can hire to find work for me out there?

If anyone could it that would be great.

Luke

Hi, welcome to the forum. Where are you based? I know a videographer who you could use on a freelance basis. Let me know.

 

[ETM-World Wide Media]

I'm based north of london in hertfordshire but I have freelancers all over the country so location isn't a problem

 

[Lloyd Morgan Productions]

Welcome to the forum. Im in the same industry, and the best way of attracting new business is networking. This is something which you will build up over time, but this is not saying it cant happen from the start. Get out there, network breakfasts, chatting to people in a bar, make sure you have business cards with you all the time, and dont be afraid to speak to people. Get a few pints down you if that helps, not too many though, as you want to make a good impression!

Good luck with it; its an exciting industry to be in.

 

[Shaun_Pearce]

Where abouts in South Wales are you Lloyd?

 

[Stewart01]

Hi Everyone,

I've just singed up today and thought I would get started .

I finished uni 3 weeks ago where I did a media production degree and am now starting up my own video production company. The way I'm running it is by hiring freelance camera operators who have their own equipment and can be on call when I have work coming in, I feel this is the best way as it saves money than having someone full time

Identifying your target market and their expected needs and wants will help you in choosing the right equipments and software to use. Remember that you can buy quality equipments which are less expensive. You need to conduct a thorough research on new technologies so you will be assured that you are having the right investment.

 

[rayoncena]

What ever you start, first have some research on that and gather informaton regarding to that and also see How that will be useful to you in future. Don't jump into anything without knowing anything.

 

[Dexter01]

Videos are one of the most important key elements for the whole marketing process. Quality videos will increase the brand recognition of your business which will also help you to promote and sell your products or services more effectively. Creating video content will enrich your site by keeping in touch with the client. Video marketing is the best option to boost your sales.

 

[GForceMedia]

Hi Luke,

Good luck with your new business, I have also recently decided to set up a similar, but smaller, operation up in the North East. The biggest challenge I have faced is in convincing people of the value of having video produced proffesionally. While everybody seems to agree that video is becoming more of a big thing in the world of business, people seem to be unaware of the amount of work, and the resultant price tag, involved in having a video produced. A lot of businesses seem to prefer to shoot their own amateur attempts at video marketing rather than getting in a proffesional. I have had to work hard to make people aware of the advantages of proffesional work.

Your strongest weapon in attracting new custom will be a strong portfolio of previous work and a proven track record of how previous productions have helped your clients to get more business. You can do this by staying in touch with clients and seeking feedback a few months after you complete the project. If businesses can see the advantages of a video production, they are more likely to hire you. I am trying to put together some figures of this kind at the moment.

I also think that networking, both with other videographers and businesspeople, is invaluable in our line of work. I joined a proffesional body called the Institute of Videography and joined up to a few local networking groups, both of which have proved very useful.

I am sure you will enjoy the exciting/rewarding/at times frustrating world of video production as I have and I wish you all the best setting up your business.

Also feel free to contact me with any freelance work that may come up in the North East and I can do the same for you if anything comes up in your neck of the woods!

 

[paulears]

Identifying your target market and their expected needs and wants will help you in choosing the right equipments and software to use. Remember that you can buy quality equipments which are less expensive. You need to conduct a thorough research on new technologies so you will be assured that you are having the right investment.

eh? The video business is not the kind of business where a small operator should spend huge amounts of equipment at all! You could spend ten grand on a camera, and then the next job you quote for specifies a different format you cannot provide. It's quite normal to buy things you use all the time, as I have - but choosing a camera is a big decision with plenty of risk.

You could easily spend two grand on software, learn to use it, then get a job that needs you to have something else.

The OP mentions the £800 profit - but will this be profit, or just what's left when you have paid the camera op? Presumably you have to edit it - so your time needs to be factored in. If the £800 is covering your editing time, that's good for a day - or is it a week? Until you've more experience estimating time is the most difficult factor. I'm doing one tonight with 4 cameras, and it's a live event, running time 60 minutes - it will take probably two weeks to edit, and has to fund 4 ops, including me. An expensive job from the client viewpoint, but it's not going to make huge amounts of profit.

Video is a very expensive business - and buying kit is often locking up huge amounts of money.

 

[oliverhall]

eh? The video business is not the kind of business where a small operator should spend huge amounts of equipment at all! You could spend ten grand on a camera, and then the next job you quote for specifies a different format you cannot provide. It's quite normal to buy things you use all the time, as I have - but choosing a camera is a big decision with plenty of risk.

I completely agree. When I started out I bought a cheap camera to cover any last minute jobs, then hired in whatever I needed. I do think that there is something important about owning a base kit. It definitely helped me build up a portfolio.

 

[paulears]

It's also a business where time is your enemy. I did a big job last night - 4 cameras and a transit van load of kit - and from 7.30 this morning, I've been loading in the material shot - and this is what takes time that you can't really charge for. I've not edited a thing today yet, and it still says an hour to go. So this means we have 8 hours of pre-editing for 30 minutes of finished programme time. Three camera ops for an evening, plus maybe two or three days equates to an awful lot of money - this is transparent to the clients, so they always say "how much?????" How do you explain that just because they want 30 mins of DVD it doesn't take 30 mins to produce. I rarely do amateur jobs for this very reason. Shoot pros and they know how much things really cost.

The best way to make money is buy kit for yourself and then hire it out when you're not using it.

 

[oliverhall]

It's also a business where time is your enemy. I did a big job last night - 4 cameras and a transit van load of kit - and from 7.30 this morning, I've been loading in the material shot - and this is what takes time that you can't really charge for. I've not edited a thing today yet, and it still says an hour to go. So this means we have 8 hours of pre-editing for 30 minutes of finished programme time. Three camera ops for an evening, plus maybe two or three days equates to an awful lot of money - this is transparent to the clients, so they always say "how much?????" How do you explain that just because they want 30 mins of DVD it doesn't take 30 mins to produce. I rarely do amateur jobs for this very reason. Shoot pros and they know how much things really cost.

The best way to make money is buy kit for yourself and then hire it out when you're not using it.

Something I have started to do is to charge a 'production fee'. I add up the total estimate and then add between 15 and 20%. Clients rarely ask what it is but if they do, I say it covers; capture time, render time, insurance, meetings, planning, phone calls, mileage, tapestock etc etc. Found it to be very helpful!

 

[twotenmedia]

I too have a video production company and we specialise in promotional videos for businesses. It is a very competitive industry and with the advent of good quality cameras for cheap, everyone seems to think they are a videographer these days with many companies beginning to produce thier own stuff rather than employing someone like us to do it.

Networking is the key, and not within the media industry, but within the industry of your customers. Having a portfolio is the most important thing I found, people want to see just how good you are before parting with their cash.

However, we pride ourselves on havign set price packages. We don't ask "whats your budget" or alter the prices depending on the company and most of our feedback has said that this is why they choose us - this is what we do and this is how much it costs - no hidden fees or extras for this and that.

Yes, the right equipment is important. The worst thing is when you have a client interfering in the production process, but they don't understand a thing about it and you have to either just let them keep going on and just do your own thing anyway, or tell them nicely that they are wrong. I prefer the other clients who respect you are the producer and just let you get on with it!!

Good luck with it -I am north west based. I hope it goes well.

 

[oliverhall]

How do you make any profit on your prices? You are very cheap!

 

[twotenmedia]

We have little overheads - most of our stuff is done on location, cutting out expensive studio upkeep for the most part.

Because of this, we pass the savings on to the customers, whilst still giving the same quality. We specialise in promotional videos for businesses and in this economic climate, saving money is what they're looking for. We're happy with the prices we charge.

 

[paulears]

Although many people hate it, when I've done one of those jobs where it seems expensive, but isn't - I often get the client to come to the edit suite and 'help' me with the edit. When they see how long winded and time consuming it is - 4 hours in the edit suite with the client to produce 5 minutes of finished programme time - they really understand where the prices come from. One actually told me that in her world, her four hours would be charged at more than the my entire project quote! They're a bit of a pain, but it stops whining about how expensive I am.

 

[ValeriaPuig]

The first leap is the most difficult one.

 

[jamiefield154]

Hi Luke,

Congratulations on your first commission. I did the same thing nearly 10 years ago after university and I found the experience invaluable. I also work in B2B video production, and there are a few things I would suggest that might help you out. The first thing is fairly obvious, but it's to get as many examples of previous work as possible in preparation for new business meetings. I've been in countless meetings where a client has gone through all my previous work looking for something that matches their brief exactly. You need to stress to them that your showreel represents the quality of work that you are capable of, so they shouldn't be worried if you haven't done something in the style they are after.

It is probably a good thing that you are under cutting all competition in your area, that will probably get you a few leads. A word of warning though. Clients that want to spend as little as possible, will often be the most problematic. You might find they start wanting lots of edit changes and re-shoots. They may also want breakdowns of costs, so make sure you can justify the profit margin somehow.

Case study videos are great products to produce for B2B businesses, especially when you start involving their partners and vendors. If you can do a good job for the client, these partners, customers and vendors might be impressed and want videos also.

Good luck with it all.

Jamie Field
Head of Production
TopLine Communications

 

[InternetMarketingPlatinum]

This thread is years old.

Sent from my Nexus 7 using Tapatalk 2

 

[Billmccallum]

It is probably a good thing that you are under cutting all competition in your area, that will probably get you a few leads.

Probably the worst piece of advice for a new start-up, reducing your margin from the outset leaves little room for over-runs or other problems that arise in media production.