A Show Or Movie That Uses Real Actors Or Animals The Importance of a Business Plan For Film Projects – 7 Key Elements You Need to Get the Money

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The Importance of a Business Plan For Film Projects – 7 Key Elements You Need to Get the Money

A business plan is a tool with three basic purposes: communication, management and planning.

As a communication tool, it is used to attract investment capital, secure credit, persuade workers to be hired, and help attract strategic business partners. Developing a comprehensive business plan shows whether or not a business has the potential to make a profit. It requires a realistic look at almost every stage of your film project, in particular the distribution and subsequent revenue streams needed to recoup your investment. Moreover, it shows that you have solved all the problems of your project.

As a management tool, the business plan helps you track, monitor and evaluate your progress. The business plan is a living document that you will modify as you progress in your project. By using your business plan to set timelines and milestones, you can assess your progress and compare your projections to actual achievements.

As a planning tool, the business plan guides you through the various stages of your business. A thoughtful plan will help identify obstacles and obstacles in order to avoid them and establish alternatives.

But even more importantly, in a film project, the business plan serves another major purpose; you need to attract investors to finance your project. No one will invest in your project unless they can see how it will get paid and more importantly, make a profit.

“Anyone looking for financing for anything should have a business plan, period,” says talent manager Glenn Rigberg of the Beverly Hills firm of Rigberg, Roberts, Rugalo. “An Independent Film Business Plan [without money and a hard offer to go with it] will not bind the actors. But a solid, compelling plan can give a filmmaker a certain degree of credibility in the fundraising arena. That’s where it matters.”

What should be included in a movie business plan? Your business plan should always be simple and straightforward. Don’t waste too much time developing a 40-page document that no one will read. Keep it to 10 to 15 pages maximum. Generally, each plan includes the following;

* Executive Summary – a cover sheet that lists producer, director and talent credits and outlines the budget, start date and other key information in short, bite-sized paragraphs.

* A summary- A short version of the story followed by a “merits of investment” section, which breaks down all the positive elements of the project, but does not include the ending (you want them to read the script). These elements could be established talent, distribution guarantees, or the large potential audience for the film.

* Background- A brief overview to educate your reader about the industry and the opportunities within the industry. You can also describe who your potential customers are and you can mention some movies that are similar to your project.

* Operations- Description of how your internal operation will be structured from top to bottom to produce the project. Show what support services, casting, equipment, facilities, locations, legal advisory services, subtitling, etc. will be required to successfully execute the project. Document any major capital requirements needed to carry out your project. Describe funding sources and terms. Indicate what funding has been received and how much is still required.

* Marketing- Describe your company’s approach to go after the market to distribute your film and generate revenue. Summarize your distribution channels and strategy.

* Financial Forecasts – Provide an analysis of how much the film will cost to produce which addresses the total funds required, the source of the funds and the state to be financed. Include a budget summary with projected above- and below-the-line costs. List your sales forecasts and briefly describe how you derived them.

* Financial Statements- Prepare a cash flow statement showing the inflows and outflows of cash from month to month during the first year. Prepare a balance sheet that reflects the project’s assets and liabilities. Prepare an income statement showing the project’s income, expenses, and profitability.

In these times of recession, money is hard to come by. It’s no longer enough to present a killer script and a great pitch. In this new independent film economy, people who still have money want to see payback projections, marketing plans, internal rates of return, and multiple revenue streams. A properly prepared and informative business plan will help you a lot to get financing for your project. It can also be a valuable tool in ensuring the timely and efficient completion of your film.

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