How to Start a Small Magazine
Tired of seeing nothing that moves you at the newsstand? Weary of late responses and rejections from a raft of submissions? If you answer "yes" to these questions, it may be time to publish your own small magazine. Whether your efforts are literary-minded or light-hearted, magazines offer a stylish, self-satisfying outlet. But the publisher's role is not plain sailing, especially during the first three years--when lack of financing will test your resolve to the utmost. Weathering these storms will take a combination of business savvy, creativity and sheer determination, especially given the high attrition rate of new titles.
- Difficulty:
- Challenging
Instructions
Things You'll Need
- Adobe design program Advertising manager and salespeople Advertising Red Book Assistant editor Commercial printer Copy editor Desktop publishing program Fax machine Graphic designer Quark Xpress or Photoshop design programs Prototype
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Find A Niche
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Determining your subject matter is not enough. Before starting production, decide what sets you apart from the competition. If three coin collecting magazines already sit on the newsstand, the market probably cannot support one more. However, if your concept is unique and marketable--such as "Rock 'N' Roll Collectibles"--that may well be a different story. This should not be a casual decision, since nine out of 10 new magazines fail, statistics show. Of the magazines that fail, 70 percent do not make it past their first issue.
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Know your market. Scour the newsstand racks and consult trade publications like "Editor & Publisher," or "Publisher's Weekly," for hot topics and trends--because you will need to start planning your content. Talk with distributors, editors and other industry peers, if possible--or attend conferences--for advice on potential pitfalls.Beyond financing, these include failure to: adequately promote an unknown magazine; build a subscription base; recruit talent; and secure distribution. These factors could sink your magazine before it finds an audience, so consider how you would deal with them. Potential backers will want to know, too.
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Resolve the audience or demographic that you plan in courting. This does not imply writing about your advertisers, as many magazines frequently do, but outlining who will buy your magazine and what sorts of topics might move them. Jot down a list of 20 to 40 ideas, then narrow accordingly. Always have a target to measure progress, even if means phrasing it in elementary terms--such as, "in the first year, I will sell 80 percent of my press run."
Run for the Money
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Develop a shortlist of backers to approach for fundraising. Capital is the most critical resource during this phase, so do not cut corners on your search--fledgling publishers can wait a year or longer before seeing meaningful profits. Many worthy ventures fail because the would-be business owner underestimated the difficulty of her first couple years or did not bank enough cash to ride out the difficulties.
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Using Adobe and other desktop publishing programs, prepare a prototype of how your magazine will look--a necessary step in securing initial fundraising and advertising, the lifeblood of any publication. Do not assume the need to set every aspect in stone--at this point, showing the general look and feel will be enough. Regional advertisers can be approached directly, while you will need to consult websites--or reference guides like the "Advertising Red Book"--for national prospects.
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Start slowly at the local or regional level, if cost-effectiveness is your concern. For national distribution, consultants recommend against taking that step without a minimum of 100,000 or more prospective readers, because reaching that level can take up to $1 million in startup capital. However, if you can show a promising regional track record, this will persuade more advertisers to come aboard nationally.
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Think carefully about the consequences of approaching family and friends for money. Often, there is no alternative--just realize there is a price for mixing family and business. Not only is it harder to face a friend of relative when something goes wrong, but the inevitable hiccups in a new business can strain relationships past the breaking point. Walk into these situations with clear expectations.
Recruit your Talent Pool
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Give some thought to the creative team that you plan to assemble. Even a small literary magazine will need a graphic designer to make it look good and an assistant editor to help read submissions. Getting others involved in your effort will also minimize your chances of personal burnout and negative impact on your personal life.
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Shop for a reliable commercial printer with whom you will partner--at least for the first couple issues--on the production. Get at least three quotes to determine your projected cost per copy, the most important element in determining success or failure. You do not want to find out after the first or second issue that an overly high per copy cost will make it impossible to earn a profit.
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Begin planning your first issue with the creative team you have assembled, and set a target publication date. Once you announce the date, do not push it back, barring some unforeseen emergency, such as an eleventh-hour change in printers. The first issue date is merely the latest milestone needed to show your commitment, which began when you started raising funds. Always keep this principle in the back of your mind.
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Make a point of meeting regularly with your creative team as the first issue grows closer. For obvious reasons, you will probably be putting together that issue in the confines of home--either yours, or someone else's--until the cash flow proves sufficiently reliable to rent or lease a commercial office space, which eventually will be required for greater visibility.
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Tips & Warnings
Always bargain hard on materials costs, which are traditionally the highest percentage of any publication budget. However, the other side of that advice--you get what you pay for--still applies, too. Develop as many cross-promotional devices as possible, from blogs to social networking sites and conventional Web pages that you can update, based on a template. When in doubt, go with your gut. This is especially important when reviewing bids for services like commercial printing, which may not always spell out the hidden costs of a proposal.
Do not expect to take a salary until the cash flow justifies it. Consult an accountant or other financial professional to determine the type of business you want to create--since whatever setup you choose will affect your tax liability. Have a "Plan B," because not everything will proceed as you have envisioned as you roll out the first issue. In fact, the odds are highly likely that something will go wrong, which means you might have to keep your day job--at least for the short run. Tread carefully in the beginning if your creative team consists mostly of friends and relatives, many of whom will also be working for free or very low fees, to help realize your dream. Chastising them when something goes wrong is not productive.
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- Photo Credit Ralph Heibutzki
