If you understand the technology behind video production and enjoy the process of taking raw video footage and creating a video that flows, a video production business may be a great small business idea for you. Here are some considerations before you take the next step.
Pros of Starting a Video Production Business
Along with being able to use your creativity every day in your business, the benefits of starting a video production business include:
- You can provide a full range of video services, including editing, producing, adding special effects, digitizing, etc.
- Your business can be home-based, or you can have a physical location.
- You can even offer a mobile service, going "on location" for clients and completing editing projects from your home office.
- You can partner with videographers, photographers and party planners for increased business.
- You can get started using the broad range of free editing software before "graduating" to the more professional options.
- The earning potential is high, once you become established.
Cons of Starting a Video Production Business
Some of the potential challenges of starting a video production business include:
- You need extensive skill and experience in all things related to video production.
- You need to purchase the necessary equipment, which can be very expensive.
- You will need a designated spot to store your equipment.
- Your business may be limited to your geographic area, so you will need to maximize local advertising.
- There may be significant liability because you will be handling your clients' original, potentially valuable videos.