Corporate Video Bid Suggestions

[PHX Shooter]

Just got an RFP request for a corporate video project and would appreciate any insight, suggestions that you more experienced guys might want to share. The project would have 2-3 shooting days, which is pretty easy to figure out. The big question is the post fees. Let's say the final deliverable is a DVD master that will have 45-60 minutes of content divided into 8-10 segments.

My plan would be to have a solid shooting script to keep from having a ton of video to wade through. What kind of formula would you use to figure out your post fees? I'm thinking there should be some kind of basic ballpark calc around that is based on the finished minute of content.

I typically don't think I charge enough for editing, so I want to do this right. I have also recently quit my day job and am now a full time freelancer making my living off of video production, so I want to land this gig in a big way. IMy new vocation may not have been the smartest move, but I'm committed to making it work or going down swingin. So I really hope to get some good advice (other than, "you're an idiot, get a real job!).

Thanks in advance.

[dhart]

Two to 3 hours of post per finished minute is not unusual figure on a locked down script. Documentary work is much higher in the range of 4 to 6 hours per finished minute sometimes much more. All this of course depends upon the project. The general rule of thumb on simple stuff is that your price should come out somewhere around $1K per finished minute. That price has been quoted since I started in this business 30 years ago. Someday we might get a raise...

Don't forget to include digitizing, music, VO talent/recording and graphics (not a inconsiderable sum) in your bid. Good luck.

[Cameradude]

$1,000 per finished minute.

In all the productions I have done script to screen, I have not deviated from that number too much.

I would bid and budget based on at least 25% more than what you think it will cost you.

[Baltimore Shooter]

No offense Cameradude, but (and I thought I mentioned this before), the per-finished minute rate is not a viable way to bid a project. Suppose all the following productions are all 10min in length:

- One production requires 3 cameras (1 on a jib) shooting for 5 shoot days in 3 cities

- Another production requires a 1 shoot day with 1 camera in 1 city

- Another requires an on-camera host and several actors

_ Another might just require interviews w/ company reps w/ broll

- One production requires 10hrs editing using only cuts and dissolves

- Another might require compositing, layering, 3D animation and closed captioning.

All of these productions would have vastly per finished minute rates for the same 10 minute video. It really depends on what the client wants and what's in the budget.

One client may only have $5,000, so you wouldn't be able to do 3 cameras per day and jib over 5 days in 3 cities. Another client might have $100,000 which would allow for that much shooting plus the compositing, layering animation, etc. I'm sure you get the idea. It's better to find out what kind of budget the client has and if you can taylor the production to fit within their budget.

I had a potential client call me and wanted to do a production for $2,000. I told her there's nothing I could do for that rate (at least not a concept to completion production).

Hope that helps,

Warren

[Cameradude]

Baltimore Shooter I agree that figuring $1,000 per finished minute for post work is not a way to bid a project, but it is a ballpark. Add in your crew costs, travel fees, talent fees, and I think it will get you in the ballpark.

I agree that finding a budget and working within that is the best way to go. I can not tell you how many people have come to me with a laundry list of what they want and have no clue how much it will cost. My favorite is "we want a 15 minute video" about our company. I always ask, why 15 minutes? The response is usually, "I think we can tell our story in 15 minutes", like they are squeezing it down!! When you tell them the price will start at around $15,000 you get some shocked looks. Most get done in around 3-4 minutes.

Aside from ballpark figures, a detailed line item account of all expenses and then a 25%-30% pad for unexpected fees is a the only way to get an accurate bid for a job.

[BluesCam]

45-60 minutes is really long. That will be a ton of editing unless you have very long shots :>}

I think what dhart said about editing is pretty accurate. I usually charge $125 hr. to edit.

As far as bidding, knowing the client will help. If you can get a feel for their budget that would be very helpful. Most people and companies who are puchasing video services for the first time will be shocked at the cost.

I recently bid on three projects, all of which were for first time buyers. They all went into sticker shock (the bids weren't that high considering what they wanted). The big corporations are used to paying well. Small companies and non-profits are not.

Don't forget to budget appropriately for script development and project management.

[freedom]

The $1000/minute does not account for the 2 minute video vs the 60 minute video. Good luck doing a 2 minute video for $2000 but $60,000 may be more than enough for a 60 minute video (god forbid!).

Be vary careful on post. Make your post budget limited to one review and X amount of small changes. If you don't, you may spend the next year and a half doing revisions for free!!!

Be aware of the fact that you may be getting used to keep the other bidders honest. Happens all the time. Since they've asked for an RFP, they probably have some skill in assembling bids.

[Baltimore Shooter]

The $1000/minute does not account for the 2 minute video vs the 60 minute video. Good luck doing a 2 minute video for $2000 but $60,000 may be more than enough for a 60 minute video (god forbid!).

Be vary careful on post. Make your post budget limited to one review and X amount of small changes. If you don't, you may spend the next year and a half doing revisions for free!!!

Be aware of the fact that you may be getting used to keep the other bidders honest. Happens all the time. Since they've asked for an RFP, they probably have some skill in assembling bids.

Freedom makes a great point that I forgot to mention.

Anytime I include something I don't normally include with the rate or give a special discount on, say an hour of voiceover recording or including a VHS timecode burn at no charge, I let it be known by putting the discounted rate in bold and something to the effect of "Special New Client Discount" or whatever in paratheses along with what is normally charged ($100 value), etc.

With regards to limiting re-editing, I estimate as best as I can how long it will take. Same with shooting.

I had a project earlier this year where the client thought we should shoot one of their people introducing, bridging and close the video. I advised against it, but they still wanted to do it so I let them know how much it would cost (1 day w/ 2 person crew and Grip). So the additional shooting, along with the re-editing was an additional charge. I included this in my original proopsal:
* All costs are estimated, any additional materials or services required will be billed at the appropriate rate. Estimate for location production is based on a 10 hour day. Cost does not include Maryland State sales tax.

In the end, they realized that the additional shoot didn't add anythign to the video and they decided to take it out and have the script re-voiced by the VO artist instead.

In the proposal, I estimated 20 hours of editing. With the clause above, they knew anything beyond that would be at an additional cost. I warned them when we were nearing that limit, still they wanted more and more changes. It ended up being a total of 39 hours in editing, they paid for every one of them.

Point is, estimate as best as you can how long you think the editing (or shooting) will take and let them know that there will be additional charges beyond that limit. Otherwise, as Freedom said, you'll be re-editing til the cows come home at your espense.

Warren