The Why and How of Business Video Production
Now is the perfect time to start your own video production business. Video marketing is growing in importance and popularity. A study by Smart Insights revealed that 83% of businesses understand the importance of video content. As more and more companies realize this, they would look for a video production company. For this reason, jumping in to this kind of market would be a profitable investment. Setting up a video production company can be challenging at first. Here are some of the steps you need to consider in order to have your own video business production.
Business name and type
While you can always start as a freelancer first, it would be fun if you will still have a business name. Choosing a name can be tricky and entails more work than you think. Pick a name that reflects your personality and unique. It is important that you do not infringe on other company’s name or you will find yourself in a lot of legal trouble. If you decide to find some business partners, you may need to register and incorporate it according to state requirements.
Build your own website
It will be much easier to find potential clients if they have a website to visit. If you do not have one yet, you can start with a simple website. Make sure that all the information such as your contact details is in your website. There are website templates that can help you get started with building your website. Most of these templates allow you to share to the different social media channels.
Show off your work portfolio
Once you have a website or social media page, you can use it as a platform for promoting your portfolio or sample of works. You can post old videos from previous clients or come up with a new video. You can use your portfolio to get clients.
Start with rental equipment
Don’t have your own camera or video production equipment? Not having one does not have to be a reason for you not to do video production business. If you’re strapped for cash at the beginning, you can check out some rental houses in your area. If there are not many rental shops near you, there are online rental platforms such as LensRentals, BorrowLenses, ShareGrid, and others.
A good base camera
If you have some money to spare and want to shoot consistently, why not invest on a good base camera? There are many newer models or upgrades whose price has gone down considerably. There is also a reason why investing on a new camera makes sense. Clients would be more inclined to work with video production companies with more advanced equipment.
Audio and lightning setup
Similar with a camera, you can consider renting audio and lighting equipment when starting out. Until you have proven that it is worth buying than renting gear, rental equipment may be a good way to start your video production business so you can save some of your budget. You can pass the rental costs directly to your clients. A good equipment worth investing on for a starting business is audio and lighting equipment.
Build a network
If you are starting a solo, it will be worth considering what you can do independently compared to working with a partner or being with a team. As your client base increases, potential costs of video editing services may be difficult to shoulder by yourself. For this reason, it pays to have a network of shooters, editors, or producers that you can count on for help with your clients.
Whether it’s corporate or individual, a video production business can be a profitable source of income for feeding your passion for shooting videos.