When you have this kind of relationship, there are a lot of other activities that can factor into your yearly budget, beyond the sum of your production quotes. Having ongoing engagements with clients makes a lot of sense for an agency. By assessing how accurate each budget is after you complete a project, you can get better at creating future budgets and ensuring you’re not losing money on a project. If we’re over budget, that’s a sign that we might be working out of scope, and I can talk to the client about adjusting our approach or charging additional fees to cover the extra work. This lets me know if we’re running over/under budget, and helps me make more accurate budgets in the future. I also leave room to come back and write in my actual costs as the project gets underway. A typical margin is 25–30%, but it can vary depending on your business goals. Based on the difference between that quote and my internal costs, I can calculate my estimated profit margin. These costs are all added up and compared to the ’sticker price’ that ends up being quoted to the client. I also budget in fixed costs like music and stock footage licensing, as well as any delivery costs (overnighting hard drives is expensive!). Motion graphics are visual elements like lower thirds and titles. Once you have your selects, you can begin to put them in the timeline and sequence your project. In post-production, I switch back to an hourly format with the following key activities as my guideline:įile ingest and conversion is where you take your raw footage and do any transcoding, as well any logging for clips like interviews, where you’re looking for specific moments. I also add in fixed costs like travel and equipment rental. In my budgets, each crew member gets their own line item with the expected number of shooting days and their estimated day rate. Production costs are formatted a bit differently. “If you’re not sure of your hourly rate, the best way to figure it out is to be your own best case study.” ![]() Make a video for your own agency, and carefully note how many people were involved and how long it took to complete each step of the process. If you’re not sure of your hourly rate, the best way to figure it out is to be your own best case study. More complex projects will have more granular budgets with more line items. I list how much time we expect to spend on each line item, as well as our hourly rate.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |