Have you ever wondered how to pitch your film project to prospective investors?
The first step is to know what you're looking for. You may have an idea of a number. Where did it come from? Did you just say “$1 million,” because that's a nice round number? You have to be much more specific than that.
You need to have someone break down your script, create a REAL budget and schedule, and also create a business plan.
From there, you will meet with a qualified attorney to help you with the LLC paperwork and investment documents.
Once your paperwork and strategy is solid, the next step is to prep your project. Once you get that done, it's time to reach out to everyone you know, and start putting out into the universe that you are in fundraising mode. Tell everyone: “I'm looking to raise $X to shoot my film this year!”
How To Pitch Your Film Project To Prospective Investors
Here are the steps you can utilize to pitch your film project.
First off, check out this video on how to find film investors:
1. Everyone you talk to, let them know what you are doing, which is raising money to shoot your film. Ask them if they know any HNIs (High Net Worth Individuals)
2. Ask them if you they could help you try to get a meeting with that person.
3. Prior to the meeting, make sure you have a concise and sharp business plan, and know every aspect of it, inside and out. Pitch it to your friends and family, and see what questions come up. Practice, practice, practice.
4. On the morning of the meeting, dress to impress. In your car, visualize the meeting going exactly the way you wanted it to.
5. Always, always start the meeting by asking the HNI something about himself or herself. Get them talking!
6. Go into your pitch with confidence and enthusiasm.
7. As soon as your pitch is done, shut up! Stop talking! Let the person think. Do not try to fill the silence or you'll kill the deal! The silence is when they are thinking about investing.
If you get questions, your prospect is interested. If there are no questions, your prospect is not interested.
Here are some questions I was asked:
- How will this project garner ROI (return on investment)?
- How long will it take to get the money back?
- What multiple will this investment potentially return? (If your business idea can not garner a higher return than a savings account, why do business at all?)
8. After questions are answered, ask what he/she would need to move forward. Lead them down the path to the investment.
When it comes time to pitch your film project, having a good meeting doesn't always mean you'll get the money (if it were easy, everybody would do it.) But it does mean that every NO is one no closer to YES! And if you want to find out more about how to plan your film project, Film Business Plan.
