Things I need to know (as told by you!) at DVinfo.net

Go Back   DV Info Net > And Now, For Something Completely Different... > Taking Care of Business

Taking Care of Business
The pen and paper aspects of DV -- put it in writing!


Reply
 
Thread Tools Search this Thread
Old May 22nd, 2007, 10:27 AM   #1
Regular Crew
 
Join Date: Jul 2004
Location: Fayetteville, NC
Posts: 168
Things I need to know (as told by you!)

Okay...so a good friend of mine and I have started a production company. This company will be a place that will enable people to invest in future theatrical length productions. We're aiming to create films that will hit theaters....(we're going to start off small of course and just hit up the festival circuit). We already have a great deal of money ready to be invested through several investors into our first project..and also some investors ready to invest in the company itself.

Now, I gladly welcome any advice from the pros at this forum ranging from advice on equipment to advice on payroll and all in between. We do have a lawyer and accountant handling most of the complicated business part, but I would also like some input on the film business aspect of it.

Thanks guys!
Jeremiah
Jeremiah McLamb is offline   Reply With Quote
Old May 22nd, 2007, 06:42 PM   #2
Hawaiian Shirt Mogul
 
Join Date: Nov 2001
Location: northern cailfornia
Posts: 1,261
protect your ASSets & your investors ...
do a LLC or a INC ... make sure you have enough liability insurance to protect ALL - that means 1 mil liability is not going to do it ...
make sure all persons are covered by workmans comp ( including those that work for free) ...
put all agreements in writing ..
follow SEC rules when looking for investors - for a movie you pretty much have to tell them in writing that they should kiss their $$ goodbye - as in they will never see a dime ...

and have fun ....
Don Donatello is offline   Reply With Quote
Old May 23rd, 2007, 12:40 AM   #3
Wrangler
 
Join Date: Jun 2002
Location: Vancouver, British Columbia
Posts: 8,308
A lot of non-film people will come to you with an idea, and suggest that you produce it and finance it and do all the work, and you should split it 50/50 just because they had the idea. Don't ever, ever touch it.
__________________
Need to rent camera gear in Vancouver BC?
Check me out at camerarentalsvancouver.com
Dylan Couper is offline   Reply With Quote
Old May 23rd, 2007, 06:31 PM   #4
Trustee
 
Join Date: May 2005
Location: Saint Cloud, Florida
Posts: 1,043
Stay away from "friends" with ulterior motives. Don't end up being used for your time and equipment with no return. Find a niche, you'll need it as this is quickly becoming a saturated market. There are too many people with $200 DV cams and FCP that think they can do better, cheaper -and undercut like mad. The client isn't the wiser because they never saw your superior footage and editing. They then expect this undercut-rate from everyone in the industry regardless of quality-argh!
__________________
www.facebook.com/projectspecto
Marco Wagner is offline   Reply With Quote
Old May 23rd, 2007, 06:34 PM   #5
Wrangler
 
Join Date: Jun 2002
Location: Vancouver, British Columbia
Posts: 8,308
Working for free is fine, as long as the project is worth it.
Working for free on projects that are crap, ain't worth it.
__________________
Need to rent camera gear in Vancouver BC?
Check me out at camerarentalsvancouver.com
Dylan Couper is offline   Reply With Quote
Old May 23rd, 2007, 06:57 PM   #6
Trustee
 
Join Date: May 2005
Location: Saint Cloud, Florida
Posts: 1,043
Quote:
Originally Posted by Dylan Couper View Post
Working for free is fine, as long as the project is worth it.
Working for free on projects that are crap, ain't worth it.
Very true, some of my best times and work were done on projects with no $ involved. It's the projects you "think" or are told you are going to get paid and don't that I was leaning toward. :-)
__________________
www.facebook.com/projectspecto
Marco Wagner is offline   Reply With Quote
Old May 23rd, 2007, 07:13 PM   #7
Inner Circle
 
Join Date: Sep 2002
Location: San Mateo, CA
Posts: 3,840
"We're aiming to create films that will hit theatres..."

I'm not real clear on your business plan, so I'm assuming you've made it much clearer to your investors.

Are you a "Producer" or a "Production Facility" or a combination of both? You can 'make' movies without ever owning a facility or a piece of gear. In fact, it's usually cheaper to rent the first time around. (Start the flames.)

There are tons of books on 'how to make a movie on ten cents and your credit card'. Some usefull forms and information in them.

But the main ticket is...

What's the story?


Do you have a film, that people will pay money for?

Do YOU want to see it? Do people who read the script get REALLY REALLY EXCITED about it? Do THEY want to see it made? Are your investors excited about your scripts?

It's one thing to say 'Hey, put your money in our company, we're going to make famous movies', IF you've already made some. I'll put money in that, trusting your track record of success. (And even then, it's a crap shoot).

It's another thing to convince people to gamble their money on a project they haven't seen yet. "Give me your money, trust me to find a winning script and bankable actors and put it together in a package that's going to get picked up for distributrion... even though I've never done it before."

Not saying it can't or shouldn't be done... the attempt to do so happens every day. The SUCCESS at doing so is much smaller. Getting all your ducks in a row (as the other posters have said) is really really key. Do all the 'unsexy' work of insurance, union negotiations, culling through a thousand scripts, finding a project, CREATE A BUDGET - shoot some sample scenes or trailer footage - THEN GO SELL THE SIZZLE.

Everything I've described can be done primarily with B.T.U's. Butt Time Units. Put together a package... a 'slate' of maybe three projects that are in hand, and 'doable' - then approach your investors.

Just my thoughts based on my own experiences.
Richard Alvarez is offline   Reply
Reply

DV Info Net refers all where-to-buy and where-to-rent questions exclusively to these trusted full line dealers and rental houses...

Professional Video
(800) 833-4801
Portland, OR

B&H Photo Video
(866) 521-7381
New York, NY

Z.G.C.
(973) 335-4460
Mountain Lakes, NJ

Abel Cine Tech
(888) 700-4416
N.Y. NY & L.A. CA

Precision Camera
(800) 677-1023
Austin, TX

DV Info Net also encourages you to support local businesses and buy from an authorized dealer in your neighborhood.
  You are here: DV Info Net > And Now, For Something Completely Different... > Taking Care of Business

Thread Tools Search this Thread
Search this Thread:

Advanced Search

 



Google
 

All times are GMT -6. The time now is 06:22 AM.


DV Info Net -- Real Names, Real People, Real Info!
1998-2017 The Digital Video Information Network