First Film Budget

What, exactly, goes in to your First Film Budget? Part 2 of our "How to Make a Movie Mini Course" discusses film budgets, costs of talent and crew, film bank accounts and how to handle your film money. Read on to learn more about:

• First Film Budgets
• Creating Two Film bank accounts
• Handling the film money
• Start your second film

What Is a First Film Budget?

• In learning how to make a movie, understand there are two types of low-budget films.
• Please see SAG AFTRA for updated requirements for Low Budget Theatrical and Ultra Low Budget Projects. Follow the content from the video, but financial requirements change annually.
• The first budget is aggressive and is capped at $200,000. This is because the Screen Actors Guild allows low budget producers (up to $200,000) to hire SAG (union) actors for $100 per day. You may also then negotiate any payment amount to the remainder of the talent or crew.
• The second budget, with small digital cameras and light kits (Final Cut Pro and Sony Vegas), can be produced for less than $10,000 to $20,000. Team up with local people, local film schools and work some deals - possibly points in your film.

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Sample Film Budget Template

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An Introduction To Film Budgeting

• Know Your Script: Characters, Locations, Wardrobe Changes ++
• Know how much they all cost. Animals, locations - pick up the phone and find out how much things cost
• Don't forget post production - color, music, sound
• FOOD!!!! Never. Ever. Forget the food.

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First Film Budget: Dealing With Money Control in Film Making

• The producer controls the money on a film, keeping the project on budget, on track and safeguarding the funds.
• It's a great idea to bring on a business advisor, such as a CPA or attorney. They can provide invaluable insight on the financial aspects of how to make a movie.
• Remember, the Director is focused on the creative. It is your job, as the Producer, to manage the money.

Film Budgeting: When to Start Your Second Film Project

• Do not raise money for the next film while in pre-production or production of your current film, or especially when you are first figuring out how to make a movie.
• Take your first film all the way through distribution
• The best time to raise money for your next film, is right after you've made a distribution deal on your initial movie
• Take a new investor to a screening of your first film and let them meet your initial investors

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How to Make a Movie Mini Course

Preparing for Film Investors

Film Investor Guide