Administrative And Selling Expenses In Statement Of Cash Flows 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 for three basic purposes: communication, management, and planning.

As a communication tool, it is used to attract investment capital, secure loans, convince workers to hire, and help attract strategic business partners. The development of a comprehensive business plan shows whether the business has the potential to make a profit. It requires a realistic view of almost every stage of your film project, especially distribution and subsequent revenue streams, to recoup your investment. Moreover, it shows that you have solved all the problems in your project.

As a management tool, a business plan helps you track, monitor, and evaluate your progress. A business plan is a living document that you will modify as your project progresses. By using your business plan to establish timelines and milestones, you can measure your progress and compare your projections to actual accomplishments.

As a planning tool, a business plan guides you through the various stages of your business. A thoughtful plan will help identify roadblocks and roadblocks so you can avoid them and establish alternatives.

But more importantly, a business plan serves another major purpose in a film project; You need it to attract investors to fund your project. No one will invest in your project unless they can see how they are going to pay back and most importantly make a profit.

“Anyone looking for financing needs to have a business plan, period,” says Glenn Rigberg, talent manager at the Beverly Hills firm of Rigberg, Roberts, Rugalo. “Independent Film Business Plan [without money and a hard offer to go with it] Artists will not be attached. But a solid, compelling plan can give a filmmaker some credibility in the fundraising arena. That’s where it counts.”

What Should a Film Business Plan Include? Your business plan should always be simple and straightforward. Don’t waste a lot of time developing a 40-page document that no one will read. Keep it to a maximum of 10 to 15 pages. Generally, each plan includes the following;

* Executive Summary – A cover sheet that lists the credits of the producer, director and talent and briefly describes the budget, start date and other important information.

* A synopsis – a short version of the plot followed by an “investment quality” section, which breaks down all the positive elements of the project, but doesn’t include the ending (you want them to read the script). These factors could be established talent, distribution guarantees, or a large potential audience for the film.

* Environment – ​​A brief summary to educate your readers about the industry and opportunities in the industry. You can also describe who your potential customers are and mention some movies similar to your project.

* Operations – A description of how your internal operations will be structured from top to bottom to create a project. Indicate what support services, casting, equipment, facilities, locations, legal advisory services, subtitling, etc. will be required to execute the project successfully. Document any significant capital requirements needed to deliver your project. Outline funding sources and terms. Show what has been financed and how much is still needed.

* Marketing – Describe your company’s approach to pursuing a market to distribute and monetize your film. Summarize your distribution channel and strategy.

* Financial Estimates – Provide an analysis of how much the film will cost to produce with the total required funds, funding sources and financing remaining. Include a budget summary with above-the-line and below-the-line costs. List your sales forecasts and briefly describe how you came up with them.

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

Cash is hard to come by during this recession. Presenting a killer script and a great pitch is no longer enough. In this new independent film economy, people who still have money want to look at payback projections, marketing plans, internal rates of return, and multiple revenue streams. A properly prepared and informed business plan will help you to finance your project. It can also be a valuable tool to ensure timely and efficient completion of your film.

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