Before producing a film, you must go through pre-production and development processes. Unfortunately, the pre-production stage requires prior planning, and having a realistic source of income is necessary. But if you have a nearly empty wallet, you can still opt for various financing methods, like applying for loans at RadCred.
With that said, check out these financial help sources that will aid in producing your independent film.
#1. – Go for grants
Grants are usually provided by the government, non-profit organizations, universities, or any other institution that supports the work of filmmakers. Moreover, grants are easy to access since you can find them on websites like PBS.
However, grants are not guaranteed since filmmakers are chosen depending on merit. Therefore, be prepared for any questions and try to submit a high-quality script.
#2. – Investors
Another possible method of gaining capital is to search for credible investors. Making use of these people will not only help fund your independent film but will also help you grow as a filmmaker. However, films take a while before they succeed, so try to develop a realistic payment agreement.
In addition, try to pitch a high-quality script that will allow potential investors to trust your idea.
#3. – Tax incentives for filmmaking
If you do not know what tax incentives are, you will be glad to know that they can also act as a financial solution. They are offered by the government to promote the in-state production of films, thereby boosting tourism and the state’s economy.
In most cases, tax incentives filmmakers do not need to return the funds.
#4. – Donations through crowdfunding
Crowdfunding is an effective financing method which involves a group of people coming together to fund specific projects. For this reason, crowdfunding is an ideal choice for Video Production Calgary and other filmmakers since it attracts numerous donations, with each person giving out minimal amounts.
Firstly, you will need an account from a website like GoFundMe, Indiegogo, or Kickstarter. Your account will then allow you to connect with friends, family members, and other people from your social media accounts.
The only issue with crowdfunding is that you need to have an excellent sales pitch that will entice people to donate.
#5. – Product placement
If you want to avoid piling up loans when producing a film, then product placement is probably the best option for you. It works whenever brands pay filmmakers to feature their products in the film.
However, product placement will not cover all the costs for the entire film but will help you cut various expenses like costumes, expensive beer, cars, modern tech, and more.
#6. – Personal loans
Nowadays, most people opt for personal loans whenever their budget runs low. Unfortunately, this method is riskier since it can result in debts if your film is unsuccessful.
Do not allow your small budget to prevent you from producing an epic film. Simply use any of the above methods but ensure that you have a powerful and quality pitch before approaching your lenders.