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Starting An Entertainment Production Company
Being surrounded by talented performers can inspire many ideas and dreams. Acknowledging the potential many actors, actresses and performing arts majors have, the idea of starting your own entertainment production company can be a wise business move. Becoming your own boss and motivating talented performers can be a dream come true for many, so take the steps to start an entertainment production company.
Plan the focus of your entertainment production company. To start your entertainment production company, begin with one focus, such as artistic development. Prep your talented performers for marketing, promotions and performances. Ultimately, you can expand your focus once you're more established.
Create the mission statement for your entertainment production company. Your mission statement should be an objective of your entertainment production company, such as: "Don't follow your dreams; chase them." Your mission statement should grab the attention of all talented performers.
Write a business proposal for your entertainment production company. It should have a table of contents, explain the objective of your production company, its target audience, and financial statements listing needed start-up capital, along with profit and loss forecasts.
To write the business proposal for your entertainment production company, research production company websites that are within the entertainment industry. Contact the production companies if you have any questions regarding your entertainment production company's business proposal, like how to add on an executive summary to your table of contents. Get permission from other entertainment production companies to use them as a reference.
Visit your local city or county clerk's office and apply for your entertainment production company's business license and business name. Visit the IRS website. Fill out the IRS-Form SS-4 application to receive your Employer Identification Number. You'll receive your EIN immediately after submitting your IRS-Form SS-4 application.
Go to a financial institution that offers business loans with low interest rates, like a credit union, to help gather start-up capital for your entertainment production company. To begin such an establishment, you must have a steady flow of income consistently and persistently to cover payments such as rent, mortgages and utilities.
Promote your entertainment production company by posting fliers at local community colleges, rehearsal or dance studios, and performing establishments like underground open mics and audition spaces. Use social networking websites, local newspapers and magazines.