You can save a considerable amount of money on the cost of
your video production, if you know how.
According to the video trade body, the IVCA, there is a 30%
difference between the charges of city centre producers (especially
in London) and those in more outlying areas.
Provided the country
cousin has a proven track record and the client list to match,
you will get a similar quality without paying for the city
slicker's hefty overheads.
Also consider that many producers stick on 15% or so as "contingency" or "profit
margin".
Don't buy this, particularly if their daily rates
for crew, editing etc. are similar to those in other bids.
Quoted rates should include their profit margin.
By all means
keep a contingency in your internal budget if you're not
sure, but don't dangle it in front of the producer.
A top notch producer will want to demonstrate their robust
production methodology to you in detail.
They'll actively want
to assure you of their excellence in coming-in to time and
to budget.
Finally, ask for a 5% discount in return for cash / prompt
payment.
Production companies often wait ages to be paid, so
money on the table is always attractive.
But first make sure
that your accounts people are prepared to raise a cheque
as soon as you have the producer's invoice.
30% + 15% + 5% = a 50% saving.
Have a look at our online video
cost calculator to discover
how much your video could cost.
Next: See what
you are buying>>
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