Indeed, opening a production company isn’t as easy as you think. Here’s a successful guide from Richard Rionda Del Castro Officer/Producer to get started successfully.
Let’s move ahead and repeat what I said up top because it’s a hard to believe, but the truth: Opening a production company isn’t an easy task. It includes a lot of hard work. And if are ready to dedicate your efforts, you can make it happen. This is what, I learned a thing or two after starting a Richard Rionda Del Castro Marco Polo Production company of my own . So, here I am sharing some advice which even I get - when starting out. Hopefully, these five points will help you as much as they helped me.
Get Knowledge
One of the hardest steps in the entire process – but it doesn’t have to be. You should be aware of the things that you want to do - whether it’s a film, commercial, industrial, etc. Otherwise, take the time to figure it out. Richard Rionda Del Castro advised to write out your short term and long term goals, it will be beneficial. Determine your strength and implement them. Make sure to have all of them in place before beginning the process of developing your company.
Now, comes the research that you most importantly required throughout the process. If you are into commercial or industrial work, then you need to research for experts in the same area and gauge who else is doing this same type of work.
Use a site like Production HUB to help aid in your research. Pay attention to the services and fees that other companies are providing and charging. Noting more, but you can find ways to compete in the market.
However, if you’re going particularly into films, then you need to really research areas of the industry that fit your talents. You may be an incredibly skilled artist and could offer pre-visualization services. Maybe you’re great at promotions and could offer film marketing. Also, look at other successful production companies like Hannibal Pictures and read how they got started.
Company Name
Entitling your production company with an ideal name is the key - this will eventually help your brand. Choose it very creative and make it something relevant to your company. For instance, Richard Rionda Del Castro`s West Hollywood production company is Hannibal Pictures, whose name came from Steven’s very first completed film Amblin. Or else, you could go another route and use part of your name like Ridley Scott did for his production company Scott Free. Just be creative and make sure your company stands out.
Type of Company
You know the services your company is going to provide. You decided the name. But now, comes the type of company you are going to be? Confused? Don`t worry. I`ll help you out.
You want to decide early on if you need to be a DBA, LLC, C-Corp, S-Corp, etc. This decision is going to affect the cost of filing to do business, especially in case of film Production business. Also, it`ll affect your tax filings as well. For financial help, contact Hannibal Pictures finances.
Representative of Your Company
Once you get rolling, you need someone to represent your company in order to take it to the next level. While this is not the last things you should do, it usually is the costliest, so it tends to get put off for as long as possible. Don’t wait too long to consult with and find an attorney to represent you. Simultaneously, you are going to need them for some other task related to your business. Better to have them in place early than too late.
Just like the CPA and Trademark Lawyer, take your time to meet and research attorney for your film production business. You want someone who is going to work hard for you. One way to find an ideal company attorney is to conversate with people in the industry. Gauge their recommendations and then go from there.
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