The world of filming offers a dream career for many people. Film production is one of the few nationally subsidized media businesses in the United States. As a business owner, how are you planning for company success? And as an entrepreneur how will your business services be unique to the industry?
Planning for success in any industry starts with a business plan that includes short-term and long-term goals. To start a film in production company you will need to incorporate or become an LLC. Once you have incorporated you will need to come up with a script, either by writing it or finding one you want to produce.
Some states offer grants for filming in their areas, but grants will not keep your business moving so you must consider other options for funding. Topics such as funding should be outlined in detail within your business plan.
When developing a business plan be prepared to incorporate the expected challenges the industry may bring such as taxation, hiring staff and making the proper connections. Will you bring a partner onboard and if so at what phase of the business? How will you and the business partner mingle funds into the business. These are questions I encourage you as an entrepreneur to consider before the days turn into months and the months turn into years.
The Houston Chronicle published a great article about getting started, check it out. Below are additional links to use in learning more about the industry:
Fontenot & Associates Solutions LLC can support your start-up budget plan or business plan.
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