Many small business owners know videos are a powerful way to promote their services. But not everyone can create an effective video. This makes starting a video production company a great business idea.
There are various reasons why a small business would need video production services including creating a company overview, product demonstration, video blog, social media video, or a customer testimonial.
Here are some advantages of a video production business:
- Variety: You can choose from a wide range of video services for your business such as editing, producing, adding special effects, digitizing, etc.
- Flexibility: You can work from home exclusively. Or you could offer a mobile service by going “on location” for clients and finishing editing services from your home.
- Profitable: You can earn a good income with video production, especially as you become more experienced and build a good reputation with your business.
- Boost profits with partners: Consider teaming up with videographers, photographers and party planners to get more clients.
Keep in mind these potential challenges of starting a video production business:
- Possibly big learning curve: There are ongoing changes and improvements happening with video technology. Change can be awesome, but it can also feel overwhelming at times.
- Expensive: Your business costs can add up quickly as you buy equipment for filming, editing, and other services.
How to Get Started:
NOTE: Before you start your business, you should read the page on this website entitled “things to think about before you get started.” After you have taken the preliminary steps for starting any business, you can take the specific steps outlined below.
Here are some tips for how to start your business.
Use your current camera equipment when you’re just getting started in video production. If you don’t have a camera, consider renting a camera and related accessories on a project-by-project basis. There are physical stores that allow renting camera equipment. You can also rent camera equipment from online rental sites.
But capturing video is just the beginning; you will also need to edit it. You may have video editing software on your computer such as iMovie (Mac) or Video Editor (Android). There are also sites that offer online video editing services; those sites might require that you add their logo to videos of have other drawbacks but are worth checking out.
To make top-notch videos that stand out, you’ll want professional video software like Final Cut Pro. You can get it for a student price of $199 (as of this writing), which may not be a bad investment if you plan to get serious about your video production business.
Make video production samples. If you’ve already created a few great videos, use them as samples of your work. If you’re new to making videos, create a few videos and use free editing software.
Now it’s time to create a video production portfolio. You can use YouTube and/or Vimeo to make a portfolio featuring your best work.
Reach out to local small businesses. When you find a potential client, look for the company’s marketing director, social media manager, or owner (if there’s no marketing department). Send a brief email introducing yourself and offering your video production services.
How much to charge:
Many new video producers charge an hourly rate, ranging from $15 to around $30 per hour. You can then gradually increase your rates as you gain more experience. Video producers can also consider charging a daily rate or a fixed project fee.
Taking it to the next level:
Different types of businesses can use video production services. Here are some business types that often use video production, compared to other industries.
1. Advertising/public relations agencies
2. Event planning businesses
3. Training and instructional services
4. Public relations
5. Real estate
Image credit: Chris Yang on Unsplash