How to Start a Production Company. Francis Ford Coppola, Steven Spielberg and George Lucas all started their own production company, which led to a very successful film career for each of them. You too can start a production company that leads to a fruitful and creative life by observing these steps.
Put it all in writing. If you are partnering with a couple of friends, get everything in writing. Sit down with those you are starting the production company with and brainstorm all your business ideas. Put someone in charge of recording them - everything from duties, time frames, names of the company, ideas for films. Not enough can be said about how important it is to get everything clearly written down at the beginning.
Assign one person to be in charge of all paper work. He follows all the financial and complex tax situations as well as documenting everything that goes on in meetings. Maintain all paper work, certificates, fees and taxes. You don't want to arrive at April 14 calculating 1099s, looking for names, addresses and Social Security numbers.
Go over the goals and purposes of the production company with your partners. Revisit these goals on a regular basis to make sure you remain on the same page. Write up a work ethic that every partner agrees to as a standard policy. Assign hats while organizing, so everyone is carrying the same load of work during the day-to-day operation of the company.
Read lots of books and scripts. Network with screen writers to read their existing work and to interest them in writing screenplays based on books you find and secure the rights to.
Concentrate on securing new clients by assigning a partner the task of procuring new blood to keep the company thriving. Network with agents and look for new, up-and-coming talent that will not cost as much for you to secure for your first films.
Foster relationships with bankers and other investors who routinely invest in motion pictures, especially those who get involved in independent films as these are the types you will first be producing.
Business cards and stationary are very important when starting and keeping a production company thriving. Think of starting a production company like doing pre-production for a feature film. A successful pre-production means a successful film. Write a solid business plan early on so you can refer back to it when necessary.