Hello Team,
More of a curiousity question??
Yes, this is probably a producer's question to answer. But, I wanted to specifically target our group. If you wanted to to produce your own script? With regards to financing the project? What process would you use to determine your budget? Just the budget, not who you would target for financing.
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On a very low budget and in the broadest, general terms:
Figure shooting 4 pages per day - that will determine how many shoot days.
The SAG-AFTRA ultra low budget contract allows $125/day per actor.
Figure the same for most crew members. Higher for some - lower for others.
Meals about $25 per day per person.
Look into equipment rental - grip, camera, electric, audio
Media and storage
Location costs
Insurance and permits
Wardrobe and makeup
Transportation
Post production - editing/audio/music
Again, VERY general answer to a rather complex question. Look into those items in your local area; what people charge varies from city to city.
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Hey Ryan, the first step would be to make sure your script is in FDX format as Final Draft has tools where a line producer can break down the script, locations, props, below-line costs, etc where they can come up with a shooting schedule and budget. There are resources out there where you could learn to do this yourself, but it might be best for a seasoned professional to handle.
Then the development producer would assemble a PPM and, with a lookbook and/or one-sheet, set up meetings with their network of investors. I know of a veteran producer who does this for new filmmakers for a flat fee of $3k.
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Very helpful comments! And great post question, Rayn. Thanks all! ;) Producing is something I'm curious about and exploring as well... I'm sure others are too.
It takes some of us writers longer than others, Rayn. But eventually we figure out that selling scripts on a regular basis is like winning the lottery on a regular basis. Ain't gonna happen. So we decide to produce our own scripts. Since few of us are wealthy and most too proud to beg, the production process usually starts with a script reverse-engineered for self-production. In other words, you don't grab a script off your shelf and say "I think I'll produce this." Instead, you must intentionally write a script that can be shot for a no-budget, low-budget price. Family genre, simple story, one or two locations, few actors, even fewer crew, no special effects, 7 to 8 pages per day, deferred salaries, guerilla filmmaking, a trailer edited first that you can put on IndieGogo to raise extra funds and/or show distribs for completion $$$.
Note: If you never go to Vegas or carry an umbrella around with you, you're probably not the producer type. Producers are by definition risk-takers.
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Check out this book:
https://www.amazon.com/gp/product/024081150X/ref=oh_aui_detailpage_o04_s...
and this one:
https://www.amazon.com/gp/product/1468314742/ref=oh_aui_detailpage_o04_s...
They will give you insight into the process, if you don't know already, and can kind of guide you on the "how-to" of producing your own script.
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Find movies made that have a similar scope to your project. Find out their budget on imdb. Find the mean if there are several, and make the necessary adjustment(s) for inflation if it's an older movie(s). In the indie world your budget typically can have a lot of elasticity to it. Buried was shot for 3mil and it's all based in a coffin. You can shoot a feature for as low as 10k if you can get crew and other expenses for free. Generally the more money you get the less problems you'll have and the better your project will be overall. There are many variables to consider when determining your budget.
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Ryan - learn how to break down a script. You're the Producer so you're in charge of/responsible for everything. When I worked as a Line Producer; I really had little input in the budget development process - I was given a budget. Then I was ask if I could do it at that price - my answer was always a yes, no or maybe. If I said yes/maybe; I always wanted a 10% slush fund. The accountants were generally happy with me because I usually shot it, got in the can & delivered on time and under budget.
Once you start looking for the money for your film... Yes, you are the Producer.
Yes, Learn how to breakdown a Script. Use one of the Budgeting Software packages (I suggest Movie Magic and Gorilla Budgeting) to further line item out your budget.
That said, start out with a 'no-budget [meaning an under $2m budget] indie' project. Don't dream of the next Star Wars. It ain't gonna happen.
In my film producing class, the suggested reading was Producer to Producer by Maureen A. Ryan. (Good Luck)