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"Video Production House Business": How to Get Started

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Video as a media has been the central part of many aspects of our lives. Motion picture films are essential entertainment media, advertisements come in mainly video form, and with the rise of YouTube and other video streaming platforms, more high-quality videos are needed with every passing day.

Thus, video production companies are in high demand nowadays, making the venture a promising opportunity with high and sustainable earning potentials. However, the investment in equipment and required experience might be a limiting factor, and will require a relatively considerable investment in both time and money.

However, once it's established, and you've gained enough reputation, you can expect a healthy revenue stream with high profitability potential, making all the investments worth it.

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Interested to start this business? Here are a few tips to get you started:

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1. Find Your Niche
There are many industry choices you can focus on, with some of them being the film industry (short films, feature films, trailers), commercial (advertising), and industrial (focusing on video company profile, etc.)

Although technically you can take all sorts of jobs from different industries at once, focusing on one can help in building your reputation, thus increasing your marketability in the process. It will also help in narrowing down the requirements of equipment and employees with specialty skills, as different video needs will require different approaches in both manpower and types of equipment.

2. Startup Investment
You can make this a home-based business, eliminating the need to rent a space. However, having a proper space can help increase your credibility and marketability. The rent cost can vary, depending on your location and size.

Your majority of the investment will go to equipment such as cameras, high-specification computer with proper video editing software, and other tools and accessories such as a tripod, stand, and many others. You can safely start with around $30,000-$50,000

3. Human Resources
If you have a video production and editing background, you can probably start with only yourself. However, you might need to hire personnel with their own specialties such as cameramen, video editors, and many others.

Labor costs can be a heavy burden for any business, so make sure to maintain a healthy balance between investments in human resources and revenue generation.

4. License and Permit
Most location won't require a special permit or license before you can engage in the video production business. However, it may vary with your location. Consult your local authorities to get a better information regarding legal requirements tied to your location.

Getting an insurance might also be a wise investment, even when it's not a legal necessity. It may protect your business and expensive equipment from future accidents and liabilities. Contact your local insurance agents to get the best option for your business.

Earning Potential

You can charge different prices for each project, depending on length, complexity, and types of videos. With an assumption of charging $200 a video in average, you can make $2,000 every month by producing 10 videos, or $24,000 annually.

As your reputation grows, you can charge higher premiums as well as increasing your client base. Thus, increasing your potential earning in the process.