Has anyone had to raise a small amount of money for the line producer/pitch services/potential EP services? It's Bondit's up front fee of $10k. I see the value in what they offer (and in reading prior threads, all the feedback on them seems to be positive).
We do have some attachments and momentum on the project so far and the first step is that they would take it to TIFF where it's in line with one of their Farrely Bro's projects. Anyhow, I would put up the money myself as I believe in the project, but I have to hold onto our funds because we just got a crazy hospital life-flight bill in the mail from my daughter, and I need to make sure it actually gets taken care of by insurance! Not the point of the story, just want to illustrate that I do believe in my own project.
ANYHOW, the question is, what type of investor would you approach for this seed money, what ROI should I offer on that with the caveat that the film gets picked up/made/moneyed? Am I even asking the right questions? Any guidance would be great and appreciated.
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You are looking for development funds. I'm gearing up to do this on my own project for the first time. After some reading on the subject, and spending some time with a relevant webinar on this platform, the offer I am currently looking at involves:
* recoup development fund investments by end of first week of photography.
* be first in line behind debt financiers and related contractual obligations for tax credits and subsequent revenues for a 20% RoI.
* get a bump in that RoI as an inducement to reinvest in the picture if they choose not to cash out in that first week.
* participate with cash equity investors and cast/crew deferments to share in profits on the backend.
I have not run any of this by an entertainment attorney yet.
This webinar was offered at half off last week.
First Money In:
How to Raise Development Funds for Your Feature Film
Good luck,
-- Hugh
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Awesome, thank you. I was used to pitching for bigger investments like what you described. I was wondering if it is different with a small 10k amount, do you think?
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A line producer to craft a schedule and budget is only one of several expenses you should account for before you draw up a PPM seeking development funds. In my 'NOT AN OFFER' appeal, I include: legal, script, business overhead, casting director, a trip to AFM to market the film and funds to pay me as a producer while I raise equity investments.
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I have been in talks with Bondit considering a project, but its my believe that they should come on board for a no cure no pay working structure. In the end finding the money is the hardest part and if a producer isn't doing that - what good is he to you then anyway. Better do it yourself.
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Cannon Rosenau just be aware, if what you are contemplating involvesthe "selling" or "issuing" of an equity interest in your project for cash, that then opens you up to securities regulation both at the state and federal level.