How to Fund Your Independent Film

How to Fund Your Independent Film

A lot of us have found ourselves dreaming about producing their own movie, short, documentary or any other video project. However, making a movie from scratch is a very expensive process which usually requires professional equipment, talented staff and promotional efforts.

Because of this, independent film makers usually cannot afford to finance the production out of their own pocket. However, there are a few ways to obtain enough funds to realize your project.

Before even starting to look for investors, there are two inescapable requirements that every aspiring film producer has to fulfil:

  • Having a good script, which may sound obvious and is often taken for granted, but a good screenplay is actually very hard to find/write. It is essential to seek feedback on the film’s script, both from industry professionals who can provide an experienced and valuable judgement on the screenwriter’s work, and from friends and family who can represent a rough sample of the public’s reception of the movie.
  • Developing an effective business plan, including a realistic budget and a marketing strategy. A detailed business plan ensures the profitability of the project, guaranteeing that investors will be paid back of their economic effort.

Having checked these two you can start working out a way to get the funds you need for your film. There are quite a few options available:

  • The Studio Model: consists in putting together several film projects of a similar genre with a common business plan and then pitch them to an investor. The goal here is showing that you offer different investment opportunities and that the investor can choose the one that seems to have more potential. However, it can be very hard to come up with more than a single project, so you may want to focus more on quality than on quantity.
  • Take advantage of government funds and tax breaks: both UK and European government have funding and de-risking schemes in place to help emerging filmmakers succeed. However, funds are limited and a lot of different projects apply every year, therefore you should carefully develop an accurate business plan and submit it to Europe MEDIA program and/or to BFI (the UK institution in charge of the distribution of public money). The UK Enterprise Investment Scheme can also help you de-risk investments in your film by setting up a Limited Company.
  • Pre-sales and co-productions: agreement made upfront of the production, either with distribution companies or with bigger production companies which buy rights on your film in advance and allow you to proceed with the realization of the project.
  • Product placement: even though it can be hard for independent productions, partnering with brand managers to include products in your film in exchange for money can be extremely convenient. However, having to show brands throughout the whole movie risks limiting your creative freedom.
  • Crowdfunding and deferrals: if you do not want to rely on an external investor but still cannot afford to finance your project you can start a crowdfunding campaign, asking your public to donate a relatively small amount of money to fund your project. If your film sparks enough enthusiasm to a large audience, chances are you can raise a substantial amount. Deferral deals, on the other hand, are agreements made directly with the staff members, stating that the crew will work for free at first, receiving their compensation only after the film has had some success and made financial profit.

Whichever strategy you choose pursuing, always keep in mind that quality is what really matters when it comes to making an independent film stand out in the industry.