How To Create A Budget Proposal For A Video Project

08 Apr 2019

How To Create A Budget Proposal For A Video Project

By: Joel

Video Transcript:

Hey there, I’m Rand Courtney and I’m here to talk about how to create a budget proposal for a video project. Essentially, this is how to help figure out how much to charge if you’re making a video.

Now, how to price video production is a big factor in growing your business and it’s one of the first questions a client or potential client asks. It’s also one of the hardest questions to answer. My company, Creative Deviants, takes these four factors into consideration when bidding or creating a budget proposal.

First, is timetable. How long will the project take and when does the client need it by? A rush deadline is going to cost more than a project with plenty of time. Time expectations for delivery play a huge factor in quoting videos.

Second, is scale. How many days of shooting will there be? Every day on set costs money and that can fluctuate depending on resources and crew. Is traveling involved? Will you need a large crew? A location sound op? Or perhaps a few assistants, if you’d need to hire everyone for multiple days, that can add up, it should be part of assessing a budget.

Third, is editing. This depends on the footage shot. Will there be a lot of footage to come through, like a documentary? The more footage equals more decisions which equals more time. If it’s a scripted piece like a commercial with a storyboard, editing time is less. Will there be complex graphics or animation; some clients don’t want any post-production work and just want the raw files delivered. It’s best to figure all this out way beforehand so that you don’t waste valuable time and money down the line.

And a fourth, and most importantly, when quoting a video production you have to take into consideration your own personal worth to the project. How much video production companies charge can vary greatly because of this factor. But be realistic about where you are with your business. Compare and contrast with your competitors so you can get a feel for market prices on your level of production and in your location. Be confident but pragmatic about your skill set and that will come through to the customer. It might just help you land the next big job.

So if you think there’s something I missed or have any questions, drop me a line in the comments section below.