Ask the question and the response will be, “It Depends.”
The main factors that determine a production cost are:
- Preparation Costs
- Time and Labor of the Crew
- Any Talent Fees
- Props & Costumes
- Location Costs
- Complexity of the Editing Process
- Overhead of the Production Company
Preparation costs include writing the scripts, scouting for locations, budgeting and planning the production details. This process is the single most important factor in creating good videos. The good news is that it has one of the lowest costs. It generally is a few people from the client side and one or two people from Media Furrate. Do not skip proper planning.
Time and Labor of the crew is the biggest variable in the production process. If a production I an interview and the gathering of a few supporting shots, then it is two people for a day. If it is a Cajun dance scene with a band and dancers, the cast and crew will be large, and it will take some time. Media Furrate breaks everything down to the size of the crew and then how may days or half days they will work on the production. This establishes a base cost.
Talent fees also vary from production to production. If a professional is needed, then paying for their serv ices is the reasonable response. If you have a reduced budget and want to use family and friends, this is quite common in a mdi sized market. Scheduling is the key in these situations. Shooting after hours or on weekends make it easy on these lesser paid participants. Media Furrate shoots a lot of videos with non-professionals being themselves on camera. It authentic and effective. However, when a video needs a voiceover, we suggest using a pro in these situations.
Not all shoots have props and costumes, but when they are called for we recommend getting multiple choices in case something does not work on camera.
Location cost is also a big variable. Borrowing a space is an option, but you must be aware that you will interfere with their business as usual. We often shoot before or after hours in companies that want to use a public space such as a lobby. The rise of the Airbnb market has made shooting home style videos much easier. These places are show ready and usually have a great look for videos.
Standard editing is priced by the day. Generally, editing takes 2X to 3X the shoot time. If it is breaking down long interviews, it will take longer. If it is a scripted 30 second spot, the edit will be quicker. The amount o motion graphics and animation will have large impact on the final price. Make sure to discuss these in detail. Most situations call for a template that can be customized and cost is a non-issue. However, a detailed 3D model of your product being built is a custom job that needs a lot of clarity tin order to get a price.
Not all production companies are structured the same. We are often asked why we are such a value for the production quality that we deliver. The answer is that we are lean. We rent facilities for shooting and have one truck and a trailer for the gear. Our gear is paid for, and our largest overhead expense is insurance. If you get a price from a video company with a large studio and staff, they will charge more because their model calls for it. They are not necessarily “too high on price.”
TIP#1: The better you can describe your vision, the easier it is to get a quote. “I want my boss to speak on camera at headquarters and during his talk, we see supporting shots from our four locations which are in four cites here in the state.” A few follow up questions gets you a tight bid.
TIP#2: If you know how much you need to spend and have an objective for the video, just let us know and we can tell you how to get the most for the amount you have allotted to spend.
We appreciate the opportunity to bid on any of your projects and promise to put the time in to get you a fair and accurate price for your production.