Crowdfunding is the latest way to finance projects or company startups. Much like selling shares in a corporation many people buy a few shares until the total funds needed are raised. With crowdfunding the total amount of money being raised is usually very small compared to what a corporation would be trying to raise. Also there is currently no government oversight or special rules to follow so anyone can do crowdfunding without hiring lawyers and investment bankers to guide the way.
Can Anyone Crowdfund a Movie?
Crowdfunding is a viable option for any filmmaker from rank beginner to advanced professional. The key is to do it right. The following ideas should help you on your way to a successful funding of your film.
Copy Other Crowdfunding Projects
Many filmmakers have succeeded at getting their film financed through crowdfunding, but many have tried and failed. Copy the successful ones. It’s not hard to find them and the filmmakers that have done well are often very generous at helping others follow the right path.
Research Your Audience
Understand who you are making your film for and understand who would want to help you finance the project. While you might imagine that documentaries on socially important subjects would be easiest to fund it is more often easier to get funding for an action narrative film or comedy. People will help finance movies that they would like to watch.
What Is Your Budget?
What is the smallest amount of money you can make your film for and still have a quality product? Add on another 10% for the unforeseen and that is the amount of money you’re trying to collect.
What Will You Give Your Investors?
If you are already famous or your film is really exciting some people will give you money just to help you get your film made but most investors want something in return. With some minimum investment investors should get a DVD of the finished film. Investors who give more should get something more for their money including a share of profits.
Act Like A Real Company
Do what you need to do legally and logistically to make sure your project has the status, bookkeeping and operation of a real company. You need a phone that gets answered and a way to collect investments and keep track of and pay expenses.
Create a Great Website
Your production needs to look like a first rate professional project. Create a really exciting and professional looking website so you look real to the world. Next start building your online presence through constant use of social media and any other forms of publicity you can imagine.
Sell With an Appealing PR Kit
Gather everything about what you are attempting to do into a press kit that really sells. The appeal of what the public can see is what will get your project funded.
To learn more click on this link for an in-depth article on crowdfunding a film.