How to Start a Video Production Business
The growing demand for video creation for weddings, parties, advertisements, corporate events has made the business of video production a rapidly growing market. If you have a passion for video production, you may want to start a company dedicated to this since the demand for video producers is on the rise daily, making the skill a high paying skill in the market.
Videos are used by companies, organizations, musicians, and individuals for a wide range of purposes. Although many people are producing their video content, professional production of this type of content is necessary.
Why you should start a video production
With the growing demand for visual content for online platforms, video production has emerged as a profitable business for anyone looking for an extra income source. The advantage of starting this business is that you don’t require a certificate to create your video production business
Starting the business requires practice, and also creativity, and passion for the job. As a producer, you will be in charge of producing visual content for clients from conceptualization to completion. Engaging in this will boost your creative ability, amongst others.
However, to specialize in the production or creation of specific formats such as music videos, documentaries, or institutional films, you will need specific training to carry out a seamless process from preproduction to production and then post-production.
The business will also allow you to learn business management skills to take care of the video production business’s administrative and financial parts.
However, many steps must be taken before starting this business. Here are the steps to take when starting a video production business:
Market research
The first step to start a business video production business is to carry out an in-depth investigation of the market; this will help in understanding the current market trends, the best equipment to use in starting the business, the companies that require this type of services the most and those that contract the most; In this way, the specific kind of project that the production company will handle can be identified.
Also, the attitudes and skills required to work in the video production world, and subsequently, develop an advertising strategy to compete within the video production market.
Write a business plan.
Based on the market research, draft out a detailed business plan that defines the business’s goals in a mission statement. It should include a description of the equipment you will need, what types of video content you will produce, your target market, a marketing strategy, and the company’s daily activities.
The business plan should also provide a detailed analysis of the market, competition, and financial projections for the first three (3) years of the business. This plan can then be used to convince partners, investors, and banks to invest in the business seeing that is real and feasible.
Obtain tax and business permit
The next step is to fill out and file a business and tax registration form and any other forms that may be necessary at the local, state, and federal levels.
As a video production company, you may be required to apply for permits and licenses whenever you make a film in a specific location or when you need to do a photography session in a public space. Check with the authorities in the area where you are going to carry out these activities before each production to ensure that you are meeting all the requirements. However, you should know that the requirements for every location or state might vary.
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Select a production space (office)
Designate a physical space for the office and a production space. In the beginning, these spaces do not have to be very wide, and the environments of a house can be used. I will advise that you use your home to prevent the extra cost of obtaining a space in a mall or commercial center.
You will need audio, video equipment, and photo editing software (I will speak on this later). Also, install a work table, filing cabinets, telephone, fax, and high-speed Internet access.
Video cameras, cameras, sound, and lighting equipment should be stored in your production space to be accessed when needed. Place shelves or racks inside your production space for this purpose.
Decoration and designing of your workspace
Setting up your workspace is as important as every other step that is listed here. Your workspace must be simple but creative in its look. You can hire the service of a professional designer to provide you with helpful tips to use when setting up.
Take relevant courses
If you are not yet an expert in video production tasks such as video, photography, sound, lighting, editing, and post-production, you must take courses, attend seminars and workshops, and read as much as possible to learn and master video production techniques. Being able to get a high-quality product is essential for the success of the business.
There are loads of free video production courses online that you can register for free. Below are some websites that you can get free courses on video production.
Also, you can check YouTube for varieties of free instructional content (videos) on video production.
Purchase the right equipment
Buy the equipment you will need for your video production business. It starts with some essential but high-quality equipment like a digital video camera, sound recording equipment like microphones, lighting equipment, and a digital SLR camera with some basic lenses. Equip your computer with graphics, photo, audio, and video editing software.
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Software to download
You will need to purchase several video editing software to use in the production of the videos. Here are some of the software that can be used:
- Adobe Premiere Pro CC
This software is considered the best video editing by professionals such as videographers, directors, YouTubers, designers, etc. Whether you are a beginner or an expert, it’s easy to edit, adjust color, improve the sound, and much more to use the adobe premiere pro cc.
The adobe premiere pro is known for its user-friendly layout. If you have used any of the adobe creative products before, you won’t find it difficult using this video editing software. You can download the Adobe Premiere Pro CC here.
- Blackmagic DaVinci Resolve 15 Beta
The Blackmagic DaVinci Resolve is the most sophisticated professional video editing tool used by several top players in the video production market. The software combines editing, sound processing, effects, and color correction in a single application. The functions are complex and would require a certain level of prior knowledge to use. You can download the Blackmagic DaVinci Resolve 15 software here
- Wondershare Filmora
Wondershare Filmora is an excellent video editing software for beginners. Even inexperienced users can create presentable videos in minutes using simple mode. Because in this mode, you leave most of the work to the software. Just upload your video clips and music to the program. An algorithm does the rest.
On the other hand, the advanced mode offers you all the usual functions with which you can create your video. In Action Cam mode, you optimize the videos you have recorded with unique cameras such as the GoPro. You optimize the image, adjust the colors and the speed.
- Adobe After Effects CC
After Effects CC is originally a video editing software, which later became the reference animation and composition application, create cinematic titles, introductions, and transitions. Make the rain and the excellent weather, animate a logo or a character, etc. You can download the Adobe After Effects CC here.
- VSDC Video Editor
The VSDC video editing software is one of the most complete and easy to use video editing among the different video editing software’s available. The software has various options to choose from; it also allows you to insert many objects and effects while being pleasant and straightforward. The VSDC video editor is available for download for free. You can download the VSDC video editor here
Draft a detailed marketing plan for the business
Create a website that has an interactive theme and helps to attract customers. Use the website as a portfolio to display your video production projects. Create a forum and blog to engage visitors to your site. Encourage interactivity on the forum and use it as a way to generate feedback. Publish articles on the blog that advise on the use of video content and its techniques.
Keep the content of your website updated to promote visits and increase your search engine rankings. Put links to your website’s social networks so that users can share content with their contacts on social networks.
Advertise your video production services in specialized magazines that adapt to your target market. Join trade organizations, attend trade shows, and network with content creators like photographers, event planners, and the rest for job openings.
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Conclusion
The video production business is characterized by creating conditions for its growth from the beginning. It is ideal for commercial partnerships between professionals such as editors, cameramen, audio technicians, computer programmers, and graphic designers; that allow expanding the work areas of the business. It’s, therefore, a business that gives room for growth.
One of the main advantages of starting a video production business is a large number of options for extra training and preparation in the field. One can start as a novice but can grow and become a professional in a short time.
If you are still thinking about whether to start a video production business, stop thinking, and act now. This article has been carefully written to help you begin your journey in the video production market.