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Old 12-06-2017, 07:18 PM   #9
jax_rox
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Join Date: Feb 2012
Location: Melbourne, Australia
Posts: 2,823
Quote:
Originally Posted by DEVINDER83 View Post
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.
Again I ask, what sort of clients do you anticipate you'll be working with? When you're out on set, or have clients who don't supervise the edit, how does having a fancy office set you apart, other than increasing your overheads?

Of course, you definitely want to pitch it more than an 'average Joe' but in my opinion the biggest way you can do that is through the quality of your work.

Quote:
Originally Posted by DEVINDER83 View Post
when you mention that pure rental business could work, what kind of minimum investment you would imagine for that?
Depends. Your profile says you're in New York, so is that incorrect, or will you be moving to start this business? How much knowledge do you have of the local industry...?

I don't know the markets you're talking about, so I can't realistically give you an idea of what competition there is in terms of rentals, what sort of productions are shooting and what sort of needs they have. You'd need to research that pretty heavily and also find the hole in the market. No point investing in five Alexas if there's already four rental houses with a bunch of Alexas. Alternately, there may be one rental house with an Alexa that has so much demand they can't keep up, in which case it might be worth investing in one - for example.

Quote:
Originally Posted by DEVINDER83 View Post
Honestly i dont know how much need is really there. I do see few rental companies, but not much.
My suggestion is to write up a comprehensive business plan and really research competition, client leads, rental houses etc. etc. especially if you're planning on a major outlay, but even if you're not planning to spend any money business plans are vital and extremely helpful.

Quote:
Originally Posted by DEVINDER83 View Post
Im planning to buy atleast 2-3 cameras, some high end lenses and lighting equipment and few other things to start with.
I keep coming back to it but how will you know if this will be adequate enough if you don't know what sort of clients you'll be getting, what sort of work you'll be doing, and what sort of work is out there available to you? 3 cameras seems like a fair outlay if you're going to be working mostly solo in the beginning. How many jobs would you have where you'll absolutely need more than one camera? Is it enough to justify purchasing extra cameras, rather than simply hiring them? At what point do you decide that it's worth investing in a second (or third) camera rather than hiring every time. Where will you source second and third camera operators from? What sort of lighting equipment, exactly, will you need (i.e. will you need an interview kit that you can rent to expand on for bigger jobs, or are you going to be making branded short films where you might need totally different types of lights and light modifiers?), where will you get the crew to help you with lighting? What will you charge? What do you need to make to both cover your costs and pay yourself a wage?
This should all be covered in your business plan, by the way.

I can rent a full Alexa Mini kit + a small set of Cooke Mini S4's for ~$1,500/day. To buy the entire rental kit new (including all accessories, batteries, head and legs, follow focus, matte box etc.) would edge you up into the $150-200k range.
There are many people who can justify that cost with the type and amount of work they get, particularly if supplemented by rental income. But it wouldn't make sense to go out and invest that much money on the hope that you'll get the work to not only pay it off, but cover your other expenses and still be able to draw even a small wage.

If you know that you're going to get enough work to be able to do all that, then by all means.
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