Netflix is a digital platform where you can find web series, videos, movies, entertaining videos and TV series. There are various types of contents available on the website which provides entertainment to people and they are paying good amount for it. Nowadays, there are many websites which are similar to Netflix like TVF play, MX player, ALT balaji, Voot, Amazon Prime and others. Nowadays these services are very famous in India and these are growing very fast in the market because people are paying subscription fee for using their services. Basically you have to make content for your website then you have to release that content on your website then people will watch it and you can charge money for using your services.
How to start a business like Netflix
- Developing a proper business model will be first job because it is very important to creation of business model before starting a business. Moreover, market research is also important because you will find about many things after conducting a market research. It will be hard job to start a business like Netflix. Market research is very important for finding details of competitor, and other things. You have to conduct research about creation of website, cost of production, how much capital requires for this business, and what type of registration you have to be done under various government authorities. Then you have to create your business model on which you have to execute the plan.
- After conducting market research and creation of business model you have to execute the plan and then you need to manage capital for starting your business. You can take loan from banks or you may invite investors with a proper business proposal to invest in your startup. After getting capital you can start preparation for incorporation of your business. You need to make your own content or you can buy content from others. Most important for your business is business registration which should be done before starting your business so you don’t have to face any legal problem regarding business registration.
- Business Registration is very important for starting your business as it secures your rights and through registration your business will become legal entity. If you have partners in your business then you can start your business as a Limited Liability partnership Firm (LLP) and there are many benefits of an LLP as it can sue or can be sued and partners will not liable personally for other partner’s negligence. LLP registration is quite simple.
- Trademark registration for your business is most important because anyone can copy your logo and name of your website and misuse it so you should register your logo under trademark. Securing your intellectual property rights is important because any one can copy your logo and can misuse it and also you should get copyright on your content so no one can copy your content. Intellectual property rights will give you exclusive rights so you should do it. Trademark registration online can be done and it is very easy.
- You have to make a mobile application or a website or you can make both where you can upload your content and people will see on that website or mobile app. You can set your prices according to market standard so it will be affordable for people.