Firstly, I love filmmaking equipment! You’ve probably noticed with all the equipment reviews on my blog! I’m always looking at new kit, reading reviews and watching those videos from trade shows when new kit gets released. I think it’s really important, as a professional, to keep on top of the current trends and changes in technology, even if you don’t invest in it.
How do I invest?
Usually, my equipment purchases come down to three categories: the purchases that improve the quality of my work, such as purchasing a new camera or lenses etc; the purchases that make my ‘on-set’ life easier, such as gizmos and gadgets that help me do my job (you can read more here); and finally, those purchases to upgrade a piece of equipment that is getting a bit ‘long in the tooth!’. Sometimes a purchase fulfils all of these criteria and on other occasions it may only fulfil one.
3 Top Tips to investing in Filmmaking Equipment.
1. Find the right tool for the job! We can all get carried away with the latest bit of tech or new camera. But do you NEED it? Making savvy purchases that serve your clients, at a price point that is profitable is key.
2. You need some capital (or money!) to make purchases; so within your fees, or day rates, set aside an amount for your equipment, an ‘equipment hire charge’ per se. Put this money to one side in a savings account and only use this to help pay off the initial investment, cover maintenance costs and to help fund new equipment purchases. It’s simple business, but doing this means you always have money set-aside to fix something if it breaks, or to buy that new bit of kit you need at a moments notice!
3. If you are looking at making a large investment in new equipment, scope out the potential demand from clients. This might be your current clients or potential new clients, and associates, that might require that particular piece of equipment. Equally, speak to colleagues too as they also might be looking to invest in the same thing, or have some feedback that might be useful! Taking the time to research not only the piece of equipment in question but also the demand, and therefore potential revenue, will hopefully help you make an informed decision and keep you true to Tip 1.
So there we have it. These aren’t hard and fast tips but just my 3 Top Tips I try to stick too!
P.S. If you like the look of those flexible LED lights at the top of this post, check out my review here. Or check out the link below to buy via Amazon. As an Amazon Associate I earn from qualifying purchases.