The rapid technological advancements have led to the full incorporation of tech into business. This simply means that everything is encoded, programmed, and encrypted. Not only, is this the case for production and manufacturing companies, but it has also enhanced the market, and this includes the media. This means consumed media, like films and shows, had been steadily improving, making this platform an effective venue for teams that are in the business of animated media and entrepreneurial creativity.
Building your own animation studio business has proven itself to be a viable venture over the years, but it’s not a walk in the park; it isn’t impossible as well. There will always be a certain degree of difficulty in establishing the company, but one thing that always falls through the cracks is the financial backup plan.
Crunching up the numbers is the last thing most creatives want to spend their working hours on, so it’s a plus that this type of venture doesn’t lean on being capital intensive. In terms of labor, you can opt to team up with other companies for bigger projects and assign small projects to solo members. So, yes, you may not need a lot to start, but you will need so much to be able to continue – hence the need for investments.
Knowing the Industry
Basically, animation studios are responsible for the preparation of motion picture post-processed materials that are made mostly for entertainment or educational purposes. They team up with other companies that handle distribution and promotion. For example, Dragon Ball Z was produced by Toei Animation, but it was Funimation Productions that licensed it to be released to an English-speaking audience; all the while, Saban Entertainment was tasked to distribute it to television, and Pioneer Entertainment handled video distribution.
This means, with this many parts of a long drawn out process, with your material moving from one hand to another, you need a plan B. This will be to establish your intellectual rights and protect your companies’ assets.
Investing for Stability
You will need a basic insurance policy before operating any kind of business, so there are two things you need to work on: a budget for insurance, and choosing the right policy for your team – consulting insurance broker can help you with deciding for both of these matters.
Here are the ones you should look into:
- General Insurance
- Liability Insurance
- Overhead Expenses Disability Insurance
- Workers Pay and Compensation
- Payment Protection Insurance
Aside from your money, the one thing you should also protect is what earns your money, your intellectual property. You must make sure to establish a trademark for your business and your content by filing for property protection. This will give you the power you need to prevent people from illegally using your material.
Last thing, also keep lists of legal documents that you will need to process to keep your business flowing continuously. The last thing you want to deal with is making an enemy out of your government. The process will be tedious, but it will save you so much headache in the future.
There are many other options to consider like you can start from scratch or work on a company franchise. You’re going to have to weigh in all the overhead expenses of your team as well. With all the possibilities, we strongly suggest you work on your investments first and foremost. Once you’re done with that, you can be off to the next arrangement. Good luck!