Starting a new business magazine is a large undertaking. You will need to study current publications and identify an untapped market to target. Your magazine will also need to ensure there is viable advertising revenue potential, since most magazines rely on this type of income. Plus, it is important to secure the required licenses and assemble a creative staff eager to work for a start-up company. Here are some business publishing essentials.
Instructions
1. Determine your magazine revenue strategy. The first step in launching a business magazine is determined how you will turn a profit. Decide if you'll earn revenue solely through advertising sales or charge a subscription fee in addition to selling advertising. However, be careful not to solely rely on subscription fees. This will drive up your magazine price and reduce your number of subscriptions.
2. Identify your target subscriber and advertiser. For example, if your magazine will target small businesses in the state of California, your advertisers may be financial intuitions and companies providing products to small business owners in your local market. To identify your target market, evaluate the business magazines in your area. Determine if there is an untapped market to find a unique niche for your magazine.
3. Study your competition. Learn about business magazines that will be your competition. Check out the Writers Market, which has an extensive list of magazines and trade publications across the country. Brainstorm ways to differentiate your business magazine.
4. Hire editors, writers and designers for your magazine. Starting a business magazine requires a variety of staff members. It can be a small group at first, and grow as your business becomes more successful. If your start-up budget is small, consider hiring a mix of seasoned experts and junior staff who are fresh out of college and eager for experience.
5. Choose a fulfillment house to produce your magazine. Choosing a print house in your local area will make transportation and mailing expenses less complex. When choosing a print house, make sure to get a list of current clients and references. Also, have the print house sign a non-disclosure agreement, protecting confidential information in your magazine.
6. Take care of logistics. After you have worked out the details for your magazine, make sure to apply for a business license with the city. This can be accomplished at your city hall department. Also, register your publishing companies name with your state (as you'll be doing business under a name that isn't your own).
