Video Budget Template!
Hi! My name is Mandy Celine. As well as running the MC team, where we create content for some of the top Creators in the globe, I am also a travel creator myself. This is how I got the nickname “The Creators Creator”.
I am fortunate enough to travel all over the world, hosting workshops where I teach others how to level up their video and photography production skillset. I believe in providing value to those who seek it and that is why I have created a MASTER VIDEO PRODUCTION BUDGET TEMPLATE for you!
This template has regularly secured multiple 5-figure jobs in business, and has been personally tested by Mandy Celine as well as approved by other industry professionals.
Although the template does come with suggested items catered specially to video/photo production, you can customise the template to for own needs for suit any freelancer.
Download includes:
1 x Video Production Budget Estimate Template & Document template in numbers format
1 x Plain Budget Estimate Template for all freelancers in numbers format
1 x Video Production Budget Estimate Template & Document template in Excel format
🚨 Digital goods must be downloaded within 24 hours of purchase. Mandy Celine or her team are not responsible for any lost downloads. 🚨
How to use this Budget
You can use this budget for both photography and video shoots, and more! I definitely have!
You will be able to open the template in Numbers or, if you are on a Windows, Excel.
If you use Numbers you can go to File and then click “Save as Template” so you always have a copy from scratch!
Alternatively, you can save the budget template under a new name and use it for whatever for the project you sending your estimate to.
To use this template, just insert your rate based on the level of your skillset and estimate how many hours/days (I usually work in days/per project) each service/line would take.
You will probably not need to quote for everything in there, so delete the rows as applicable.
Tips on how to get the most out of your budget!
Projects will vary greatly, so you will have to adjust your budgets with every new project, and probably have to quote more than once. Below I have added some tips to keep in mind, of things I have picked up over the years
ALWAYS BUDGET FOR WORST CASE SCENARIOS & HAVE A CONTINGENCY PLAN!
Some people don’t like talking numbers, some do, BUT it’s always good to have your budget to back up why a production costs what it does! It helps your client understand what goes into your production and how many people are involved. For me, I find I can always negotiate my budget and my clients see my full value. I might have to take out a service to fit their budget, but more often than not, they are understood.
You must prepare for anything to go wrong as well. Maybe someone gets sick, things get stolen, days over run or the weather is not on form. If you haven't properly properly put in a contingency, you can finish the project on a loss for your time.
A contingency is an agreed amount of additional budget (usually 6-10% of the whole budget, on top!) you/the production can dip into to assist in handling any unknown problems that arise. 10% should be your absolute max (I typically use 6%) especially if you have padded the other categories in preparation for such problems, like a need for additional pick ups etc.BE PREPARED! INCLUDE YOUR PREP DAYS!
Your prep days are pre-production days used to get the shoot ready, like storyboarding, treatments, props, scripting, shot lists etc. They are valuable and count! These maybe a smaller portion of the budget if it is a small production.
CALCULATE YOUR KIT FEES
It still amazes me how many people do not include their equipment fees! Your kit devalues every-time you use it and will need replacing on day. If you do not do an equipment section, you need to make sure you day rate is large enough to cover equipment. Costs will also vary depending on the gear needed and project.
Of course, budgets are usually negotiable, bit if you’re only handing over your day rate and not including equipment fees or pre-production, you’re always going to make a loss! Positions such as stylists, makeup artists etc may also require or charge a kit fee to use their personal gear.
Remember: It is always better to budget for equipment costs and kit fees and not use it than the reverse!
YOUR BUDGET IS JUST A GUIDE
I am not saying over-pad your budget, but it’s always better to over-estimate costs, than underestimate. They usually end up more accurate. For example, some crew members maybe cost less than what was quoted for originally, but it is 1000% more likely that budget will be used on overtime or additional equipment later. These savings will ensure everyone you are working with (and yourself) is paid fairly!
LASTLY, MAKE SURE YOU GET ENOUGH UPFRONT TO COVER COSTS OF DESIGN OR HIRING PEOPLE
This is pretty self explanatory, I usually take 50% upfront so I can pay for studios, equipment or any labour I need upfront. I then get the rest of the payment within 14 days of delivery of finals (watermarked) and finals un-watermarked are usually sent over when paid.
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