Wed, 11 Aug 2010 17:46
Many members contact us here at The Smalls with questions about financing. Let’s just say there is no shortage of people looking for creative ways in which to raise money for their film projects. Because there is no single easy way to answer questions about financing, we’ll try to do a couple of sessions here on low budget financing and how to make a movie without pushing yourself (or your friends and family) into financial turmoil.
Before we go into exploring low budget financing options, such as production companies, bank loans, credit cards and private investors, let’s take a much broader look at what you need to consider before you start searching for funds for your film. Believe us, below is not only for your benefit but also for the benefit of the people you will be approaching with your budgets and plans.
START A BUSINESS PLAN
As much as you love to think of film as an art form, it will only come to a greater life and reach a greater audience if you can also prove its business potential to a lender or investor. Remember that a business plan doesn’t have to be boring – on the contrary, think of it as your strongest pitch put down on paper. Make it as vibrant and colorful as you like, make it reflect as much of your own personality as you see fit – just remember to also include the facts. What are the facts then? We’ll go into this in more depth in a future session, but let’s just say that you need to 1) present who you are (your credentials, bio and references) 2) what kind of film you want to make (logline and synopsis) 3) who is working with you on the projects (actors already cast, crew you already involved and who you would like to see involved using the funds you raise) 4) why you are the best team to make this project a success 5) your (realistic) timeline and finally 6) your budget.
MAKE A BUDGET
Some people almost feel nauseous when asked to think of numbers in relation to their film. But this is the harsh reality of filmmaking and it’s not something you can get away from if you want to keep some level of control over your project. In order to create, you need to understand your tools – and money is one of the most important tools in filmmaking today. Don’t go crazy when sitting down and trying to create a budget, just be smart about it. We will go into more depth about creating a budget in a later session but at this stage start by writing down all your expenses in a list and make realistic estimates, or if you have real numbers note them all down. Usually once you have created your first overview, the rest feels a little easier to handle. The best piece of advice here is to be truthful and consider how much money you really need. Remember, the less you need to closer you are to completing financing if you start with nothing.
CONSIDER DISTRIBUTION AND MARKETING
It may sound like we’re telling you to get way ahead of yourself here thinking of distribution and marketing before your have even financed your film. But this is all part of showing that you know where you are taking your film – how are you going to make it a success, how are you going to pay your lenders and investors back (believe us when we say, they will want to know how and when to expect to see the return on their investment).
HOW FLEXIBLE CAN YOU BE?
As you start out making plans for your film you may not want to release any creative control whatsoever. Just remember that as you go along you may find there are truly talented people out there who want to work with you and help finance your project – maybe in return for some influence on the final product. Ask yourself how flexible you are prepared to be. Maybe, if you feel you can, leave the door open for anyone from a talented actor who may want to star and be a producer to a production company who can offer you everything you need in return for some creative control.
WRITE A CONTACT SHEET
Give yourself some time to create a database of contacts that could help finance your film. This list can include your bank manager, potential investors, your aunt, your neighbor, a local production company, a local film funding organization or anyone else you believe could have an interest in helping you. Give yourself some time to think of more names and you will surely be surprised at how many people you may be able to reach out to.
The above is just a very general overview. We hope it helps you kick-start your plans. More will follow soon as we plan to cover everything from creating a budget for your low budget film to casting on a shoestring.
Posted By frances