Most actors resign themselves to the grind of auditions and menial jobs, but four recent graduates and their teacher from the National Institute of Dramatic Art have taken an unusual step towards career control by forming their own production company.

Calling themselves Last Waltz Productions, the quintet has already funded and staged their first show at Sydney’s 55-seat Old Fitz Theatre, paying the bills by running two acting workshops for the public, and declining performance fees in lieu of profit share.