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Old 12-06-2017, 04:25 PM   #8
DEVINDER83
Basic Member
 
Join Date: Dec 2017
Location: New York
Posts: 11
Thanks everyone for your wonderful responses! I will reply one by one-

@All-Star Productions - Thanks so much! I agree 100% with you. The estimate I had given earlier was for an existing full fledged similar business. Ofcourse as a start up, I wont get everything right away. Any suggestions on specific cameras and other stuff?

@jax_rox- Thanks so much! Well, you raise very pertinent points. I think a very small investment might not be helpful for the goal I have, although completely agree with you that rental income is going to be only supplemental-which is fine with me. Also, as mentioned to earlier poster, I agree that no point investing 75k right away. But i do want to give the company a professional look and pitch it more than average joe with a camara. Otherwise if you only operate from a garage with minimal equipment, you are competing with 100's of, if not more, videographers and editors in your area. Btw, when you mention that pure rental business could work, what kind of minimum investment you would imagine for that?

@WalterB- Thanks for your input. Yes, Im not very far from what jax is saying. I do have some network in DC area where I could start with, but Im aware of the time and effort it will need to even secure first few clients. Im up for the challenge.

@indietalk- Thanks so much for your response. Hmmm..well I see your point, and will ponder more over it. I dont have any experience with commercials, but if you look at some of my work, you may think I have a talent for that. But isnt that business already very competitive and hard to break into?
@directorik- Thanks so much! To answer your questions
is there an immediate need for those services? Are
there not enough equipment rental places in that area? Will you
have enough equipment or is your plan to rent out one kit at a
time? Is there a need for studio space in your area?


Honestly i dont know how much need is really there. I do see few rental companies, but not much. Im planning to buy atleast 2-3 cameras, some high end lenses and lighting equipment and few other things to start with.
As for your last question in terms of exp of doing a business, I do have business degree and have been running a consulting business since few years. Although im not sure how much will the insurance cost for such kind of businesses. My S corp is already in place and i have EIN number too.

Once again thanks so much to everyone and please chip in with more thoughts. Im all ears!
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