2. Finance
Self Financed
The producer of a certain product
provides the financial backing to
complete their own project. These
sort of ideas need to be
successful, due to the producer
already out of pocket before
they’ve even started selling the
product. However, if the producer
felt they weren’t going to make a
profit or much of one, they
wouldn’t go into production with
this project.
Advantage
All profits go to you (the producer)
due to you financing the whole
project yourself
Disadvantage
If the project fails and doesn’t make
much money, you will lose money,
not the client or shareholders
Employer/Client Financed
A client provides the money needed
to fund this project that will enable
the company that are producing the
product.
This finance option is usually taken
by people who can’t afford to finance
their own projects, or by people who
believe this
venture would be too risky if it were
self financed.
Advantage
Money is not lost by the initial
producer if it fails to sell as well as
first thought
Disadvantage
The producer of the product won’t
make as much money on the design
if it does well, the financer of the
project will collect most of the
reward.
Kickstarter
This website enables media producers to
get funding without having a contract with
a client or employer. Members of the
public invest in the idea/designs of these
media companies in the hope to make
money back of the project.
Advantage
Not your own money, so the risk element
of the project isn’t exercised, instead the
publics money is used
Disadvantage
If the project fails and the money of the
public is lost, trust in future project won’t
be backed by these people, as well as
people who have heard about the failed
project.
Again, like the client financed project, you
won’t get all the profits, instead you’ll
have to share it with someone, in this
case, the public who financed the project.
James Sayles’ film ‘Go
for sisters was self-
financed. The film was
shot using less than
$1m.
Avatar is one of many
films financed by
employers. 20th
Century Fox gave
director James
Cameron $200m
One of the biggest media
products that has been
funded on Kickstarter is a
film version of Veronica
Mars, that has managed
to get $5.7m from
members of the public.
3. Finance
Which source of funding will be most likely use for your production and why?
For my project, I will use a self-financed approach to the project. At first, I realised the risk of self-financing this project, but
realised the high quality cards that could be produced will be high reward. Where as a client financed project would not make
me
much money, due to the employer getting most of it, a self-financed project is the best approach.
Future projects I have will also not affected if I self-finance the products, like they would be if it was client or kickstarter funded,
due to the potential failure of this project making potential investors apprehensive in the future.
Advantages
• A high reward, which I won’t have to share with other funders if the product makes it big
• I can make the decisions in regards to Personnel and schedules etc, instead of the client who is parting with their money
deciding.
Disadvantages
• I could lose money on the project if it doesn’t sell big
• My contact circle would be bigger if more people (not just me) were financing it
4. Finance
Explain the aspects of your production that could require finance.
Personnel (contractors)
The people who I use to plan, design and then produce the product with will need to be taken into consideration and budgeting
accordingly. Photographers, graphic designers and printers could all be examples of the kind of people I need for this project.
Facilities
Places which I produce the product will need to be hired. The only reason why it won’t be a premises owned already is the fact I
won’t need the facilities within the premises after this project.
Location
The location for my product will require funds, just in case you need to pay for the place which you’re advertising or researching
the product. This section also includes transportation from locations as well.
Advertising products
After the product is produced, the products won’t just sell straight away, advertising is required. Printing posters, broadcasting
on
Television and Radio may also be required, all of which cost money.
Resources
Paper, hiring of printers and other materials, as well as ingredients for the recipes, which will need to be accounted for. Every
piece of material used will need to be first researched and then purchased. A research into production must be made so money
is
not wasted on resources that are not need for this project.
5. Time
What methods could you employ to ensure you stick to your deadlines and why
would this be beneficial to your project?
• Make a list of everything you’ll need before you begin the project, not during – A list of personnel, resources, facilities and
locations will be helpful so you’re organised and can arrange these things. If you fail to do so, the deadlines may not be met
and everything in the schedule could have to be put back, due to a new planning stage been added. However, you must do
the list at the right time because if you employ contractors too early, you’ll be paying them for sitting around. For every
task I have carried out this far, a list has been made before the project, so I’m prepared. In particular, a list in the
photography project was paramount to the success of the overall task. Due to there been models, locations and resources
needed, not just resources, like many of the tasks before, it was important to note all these down and start planning who
and what would fill these spaces.
• Don’t spend too long on one aspect of the project – Spending time on one section of the project will be costly on the
schedule and deadlines won’t be met. There must be a good balance of every element to every task. However, I do realise
some things take more time, compared to others, but too much time must not be spent on the planning, research, design
or production stages. Quality will not be compromised by doing this, it just means working efficiently is key to the
successful nature of the tasks. My deadlines on my past project, Graphic Narrative, were almost not met, due this reason. I
spent a lot of time on one section of the project and almost had to rush through the others to complete the project.
However, the section I spent too much time on was the evaluation. This meant that I’d already completed all the other
sections, it just meant I didn’t review my work to the standard I would have wanted.
• Do the project in order, potential time could be saved, but in the long run, will be lost – Tasks within the project should
not be skipped so other, easier tasks, can be completed. Doing this will lose time in the long run, due to you having to
locate the past, unfinished, document, while production paperwork will be different to research paperwork, if you do them
in alternate fashion, you’ll confuse the knowledge and terminology for both. Success in the project will be had if this
method is followed and not ignored. Even though this hasn’t happened to me personally, I know some people in the past
have had problems with this factor.
6. Time
What is contingency time and how might this be beneficial to your project?
Contingency time is time that you allow yourself within a project , just in case something goes wrong. You may not need time
come the end of your project, but it’s still a good idea to have some from of contingency time, which will ensure deadlines are
met.
Some risks may include:
• The printing of the recipe cards don’t go through properly, due to the printer not been available or an error with the
printer occurring. Contingency time will then allow you to re-do the printing at a later date, or allow everything else to be
done later, so the printing can be carried out straight after the wrong printing. The only issue with having something go
wrong so early in the project is, if something later in the project goes wrong, you’ll have less time to correct it and may not
end up sticking to your schedule.
• The resources aren’t available – Contingency time will allow me to obtain the resources I need. However, this will be time
consuming and like I stated on the issue above, other things can't go wrong in the project or the schedule will be
compromised.
• Personnel aren’t available on a given day - Contingency allows me to either arrange the personnel for another day, or aside
from the contingency, replace the personnel with another person. This is beneficial because the personnel are contractors
and won’t get paid if they don’t work. A contractor is someone who is either tied to a contract for a short period of time, or
earns as they work.
7. Personnel
What size team will you use for your production (large or small)? How many people
will you have in your team? Consider the reasons for this. Think about the
advantages and disadvantages of your team size.
A small team size is going to be employed in this project. This is mainly because I am planning to self-finance the project, so don’t
want to waste too much money on personnel, due to me already spending money on resources, locations, models, facilities and
contracted equipment, without spending unnecessary money on unneeded personnel.
Advantage
• Money that could be wasted on Personnel can now be spent on resources and facilities, the main elements that will bring
me success in this project. However, all the money that is saved from a small personnel team been had, will not go o
resources and facilities, due to the self-financed project. This therefore means, the less money spent on the project, the
less profit you have to make on the products. On the other hand, if you make quality products, more money will be made,
even if the money on personnel, resources, facilities and locations will be greater. The risk for this however is too high
because, as previously stated, the money been used for the project is mine not the clients.
• Little, focus group ideas will be generated, instead of conflicting views of how we should tackle this. Time will be wasted if
arguments and opinions ensue.
Disadvantage
• The ease of the operation will not be as smooth with a small team
• With a small team, some personnel members will have to have cross-function roles in the team. This means that they may
have to be a researcher and a designer, while a producer may have to also design too.
• My contact circle won’t be as big if I have a small team. This means I will have to spend more money on facilities, personnel
and resources. This is because my contracted members may not know a person who can supply all of these key areas,
where as with a big team, they may, while getting discount off resources and similar.
8. Personnel
What job roles would you have in your production and what skills and experience would
be required?
Research – I need someone who can go out and find background information on products, analyse existing products and also
someone who can conduct focus groups to find out the previous information. This team member must be confident, due to them
working with people in focus groups and asking them question on the city streets. This department may also be required to
provide a hand in design, editorial or production, due to my self-financed project not been able to finance every position.
Editorial – Someone who can view the product and review what is wrong with it. This will give me an insight into how I can
improve this product, thus producing a better product for the public. Even though this role may not be seen as that important and
one that could be cross-functioned, it is one that is key to the success of the project and, like many of the members of personnel,
will be contracted in.
Design – The person who I contract for this role will need to be creative and come up with a range of potential designs. The
success of the products (recipe cards) rests on the design of them. However, even though this is a key role, other roles take
priority and this could be a cross-function role for either the researcher or editorial.
Photographic – This role will need to be taken care of, due to the products I produce needing photographing. However, as stated
on the contributors section of these slides, the photography could be carried out by a public type of contributor, so won’t need to
be specially contracted in.
Production – As the name suggests, this role will include actually making the product of the project. Even though it will be a big task, I
think I will only contract one producer into my personnel team, due to the other job roles helping production after they’ve finished their
sections of work. I am doing this because producers are notoriously expensive to contract out, so cross-function job roles will be
exercised o this project, due to a self-financed funding method.
9. • Printing- To produce recipe cards, a printer will be key to doing this. This personnel member will produce the cards and will
also double up as the print finisher, making sure everything is fine with the print and re-doing the print as well. Just one
function of this role includes doing a test run of the product. In this case, it will be necessary, due to me wanting to get the
product correct first time, which, in the long run, will cost less money. The printer will work closely with the editorial
section, just in case the editorial personnel member wants something adjusting at last minute, before the printer carries
out his tasks. However, instead of contracting a printer, I think I will draft out my work to a separate printing company
,which will work out cheaper than contracting another personnel member.
• Marketing and distribution – This personnel member will be in charge of advertising and then sending the product to
retailers. Again, like the design member, they must be creative, due to the looks of the product on the advertising
campaign, dictating the success of the overall sales figures. Some companies have a whole different department to
differentiate between these two, but because funds aren’t sufficient enough, this section of the company will be run
together, by either one or two people.
• Sales – Sales Personnel members must be able to pitch ideas to multi-million pound companies to try and get investment in
the idea. This could be potentially profitable, due to the self-funded venture, with the profit made potentially outweighing
the money spent on a large scale. For this reason I am deciding to contract a sales member into the small team, even
though it isn’t compulsory I do so.
Personnel
10. Personnel
How could you find people to be in your production team? Think back to your own
career development plans to help you with this.
• Online – With most things going to the internet in the ‘technological age’, the best way I can advertise my positions for the
production team is via the internet.
Advantage
• You get lots of applicants from a range of areas, not just the areas you put up posters and billboards. Even though you want
knowledge of the area from your team, due to the facility and resources elements, you also want a range of people, which
the interne will fulfil.
• Cheap, I’m not using paper like I would for posters and billboards
Disadvantage
• You’ll be wasting time reviewing the candidates when you could be spending it on more important things. However,
whatever you decide to do to advertise the vacancy, you will have to spend time reviewing the candidates.
• Poster/billboard – Lots of things are still put on posters and billboards. However, this is dependant on where you’re
advertising the vacancy and how many people will see it. If you choose to advertise on the wall behind a supermarket, it
might be cheap but it won’t be seen by many people. Where as if you put the poster/billboard in the city centre, it will be
very costly, but a lot of people will see it. It all depends on how much you value getting the right people for the jobs. In my
opinion, I would rather spend more money getting the personnel I want, rather than spending little money and getting
people who don’t have any creativity when it comes to design and production.
Advantage
• It will get to a range of people in the city and towns that you advertise the vacancy dependant on positioning). However, it
won’t be seen by as many people as the internet advertisement.
Disadvantage
• It will cost more than web advertising
11. • Contracting business/client – Another way of getting the personnel required would be through a client or contracting
business. Either way you would temporarily get the help and skills of the personnel, while the project is undergone,
however, after the project hey go back to the company they came from.
Advantage
• Unlike the other techniques, this one ensures that they have a job after completing your project, therefore, you are safe in
the knowledge that you haven’t prevented them from getting other work.
• If you have a lot of people fro a client, you may be able to get them for a fraction of what you would Have paid. With future
projects in mind also, you could form a partnership with these companies and contract workers for future projects, for a
cut-price fee.
Disadvantage
• You may not find the personnel you are looking for and then you’re going to have use the other techniques as well, thus
wasting time, money and effort.
Personnel
12. Facilities
List the equipment, resources and facilities you need for your production and its source
Equipment/Facility/Resources needed for
production
College Self Client
Paper to do research, designs, production, recipe cards and advertising on /
Printing the recipe cards needed for the production of this project. This will be drafted to a
client to complete because after this project, I won’t need the printer, so it would be to my
disadvantage if I chose to purchase a printer.
/
Ingredients – They will come from myself, due to most things been financed by myself in this
project, like stated in the finance section. /
Office space for research and design, which will also be drafted out by me for this project.
/
Kitchen for the production of the recipes on the cards
/
Photography equipment for the capturing of my made recipes. I will borrow this from college
because I don’t have these resources elsewhere, unless I hired them, which would waste
money.
/
13. Contributors
Contributor Type of Contributor
Team member – This could be an example of one of
my personnel members (researchers, designer, editor
etc.)
Talent/Expert
Client – This is who I’m working for. They will be giving
me advice on the products, due to them been the
users/sellers of this product in the long run.
Expert
Tutor – They could give you guidance on the product or
even help you out if they possess a certain skill set (ie.
Printer, photographer, etc.)
Expert
Photographer of Sourced Images – This will be the
person who takes the photographs, this could be a
personnel member, however, this will cost extra money.
For this reason, I may decide to get a member of the
public, take the pictures myself, or like I mentioned in
the last section, my tutor.
Public/Expert
14. Locations
What method could you employ to identify locations needed for your production
(production/ post production facilities) and how could this be useful?
A recce – This method involves you going to the locations and surveying them, while answering the following questions:
• How long does it take to get to the location from the main facility I’m using?
• Does it require cost? – In this case, yes, because it’s office space. The kitchen that I’m providing myself will need to be
surveyed for health and safety, but not for cost etc.
• Is it what you were looking for, is it appropriate?
• Do you need to ask permission from the land owners, if so, who?
It should be carried out thoroughly, due to health and safety codes. If it’s not checked properly and personnel injure themselves,
you could be open to a lawsuit.
Personnel recommendation – A member of personnel that I’ve drafted in could provide the locations. They may have worked for
a company or know a company that can grant us access to a certain location or they, themselves, may own a location that is
perfect for the photography, design or production sections. However, due to my small team numbers, the chances of someone
knowing any locations is slim, but there is still a chance.
Competitor locations- You could use the same locations that your competitors use. This however would involve asking
permission fro the rival company and that’s only if the owners of the location aren’t exclusively giving them the permission to
use
it. This method would probably the least feasible put he 3, due to me wanting the production and advertising to be original, not
just a copy from a rivals advert campaign.
15. Locations
Are there any limitations or risks you would need to consider for your locations?
Location Limitation/Risk
Kitchen I can manage everything that I will set out to achieve before the production section. A risk within the kitchen
when produced the food for the recipe cards, include: Knives, which is a hazard if they cut you, while burning
yourself on the oven is another risk within the kitchen.
Office space When I’m researching, going out and about to find out existing products and consumer feedback could be useful,
and a location could be added. A risk in the office could be heavy equipment been used and injury could be
common. Eye strain from the computer screens used in the office is another risk while working in the office
location on this project. The last risk is back and other limb strain. Chairs that don’t have correct support are a
real risk, especially when the personnel been used are not properly contracted by me.
Photography location 1
(The kitchen)
Food been made in the kitchen isn’t the only function for that location. After making the food, either by myself or
a contracted chef, it will need to be photographed for advertisement of the product. A risk in doing this is manly
in regards to the camera, not a risk to health. The camera could be dropped if the photographer falls on obstacles
such as oven doors and similar.
Photography location 2
(restaurant)
As well as photographs been taken in the kitchen, I want to photograph the products where they will be naturally
consumed and therefore can be advertised more effectively. There are no oven doors within the restaurant area,
but chairs can be a trip hazard for anyone, but especially the photographer, who will be holding expensive
equipment in order to capture the products.
High street (added after
reviewing the research part
of the project)
Researching the products will involve getting a focus group or giving members of the public questionnaires. This
section will involve going onto the street and inquiring about peoples preferences and opinions. Due to the dishes
been created been vegetarian, this will take longer because you will have to find a considerable amount of
vegetarians, not just any member of the public. For this location, the scenarios of risks in a town centre are
endless.
16. Codes of Practice - Clearances
What is a model/location release form and why is it important to your production?
This piece of documentation allows a company to take photographs of specific models in specific locations without having legal
action filed against them. At the start of every project, this document must be created, if you’re going to be using any models or
locations for advertising.
This is key to mine, and every project, due to the owner of the location or the model potentially taking legal action against me if I
don’t address this piece of documentation by filling it in and signing it.
Model – In my photography unit, model release forms were required if you were doing an application that featured people
(portraiture, photojournalism, illustration etc.). However I was doing the application of architectural, so in this case, a model
release form wasn’t necessary, however, would have been created if needed.
Location – This form could potentially have been made in the photography unit also. However, due to the trip to Nunnington
Hall
and my photographs at the centre of York, this documentation wasn’t required in this scenario.
A high profile example of consent not been had by the photographer before they captured photographs was the battle between
a
French journalist and Kate Middleton. These photographs depicted the duchess of Cambridge topless on the balcony of a French
villa. Even though this case wasn’t technically involving a model and Middleton didn’t win any money, legal proceedings were
taken and an injunction on the magazine that ran the pictures was taken out.
17. Codes of Practice - Legal
What legal requirements will you have to consider in your project and what aspects do they
relate to?
Aspect of Production Legal Consideration
Making the logo for the company brand
Check it isn’t already in use by an existing company, if it is, either ask
permission for the logo or come up with an original deign. (Just because
you have asked permission form a company, it doesn’t give you the
right to use it, they must grant you permission first)
Creating the house style
Making sure it’s not infringing on another companies creation before
production of the house style is started. The house style however
doesn’t have to be familiarity for the customers, like so many
companies and brands, due to a sequel or a follow up product not been
lined up for the net project.
Images used in advertising
I have to make sure the images I use are either free of copyright or
taken by myself or my personnel. If I don’t comply with this, I may get
sued and the money that I could potentially make as profit, will be lost
and the image will be revoked, therefore, the project then may not be
financially possible to complete.
Checking I’ve completed the paperwork for health and safety
Health and safety paperwork must be completed in the planning and
research sections, before production can take place. If it’s not, models
and personnel could sue me if they have an accident that wasn’t noted
down for that specific location.
18. Codes of Practice – Regulatory Bodies
Which regulatory body’s guidelines would you need to follow when creating your
production? Where could you source that information from. Be specific.
The main regulatory body I will have to look at before I begin production is the ASA (Advertising Standards Agency). This
regulating company has specific guidelines that companies must follow when selling and advertising their products. Before I start
my project of recipe cards, I must first read the guidelines set out by the ASA. This, in the long run, will be beneficial to my
Company, due to the legal and ethical issues I may have if, in my project, I don’t follow the regulations set. This could then lead
to
judicial action or a fine, both of which will affect the running of the project. And may lead to the project not going ahead at all.
The full list of regulation I will have to read through before starting production are available for me at:
http://www.cap.org.uk/Advertising-Codes/~/media/Files/CAP/Codes%20CAP%20pdf/CAP%20Code%200712.ashx
The main guidelines I will have to follow are:
• Misleading advertisement – I must ensure that my advertisements don’t feature anything that is untrue about the product
I make.
• Environmental claims – This will be one of my main concerns, due to the recipe cards been for vegetarians, you always link
them with environmental concerns, so this one will be a key guideline for my products.
• Food, food supplements and associated health or nutritional claims – This directly links to food types, while stating that
things going into the food is both legal and ethical and within these ASA regulations.
• Things such as Distance Sales, Motoring, Gambling and Lottery, as well as others, won’t be relevant to this project because
they don’t fit into these categories. The distance sales guideline won’t be followed, due to the product been sold to UK
retailers and individual members of the public, not international/European clients.
