How to Open a Publishing Company
If you are an entrepreneur with a passion for books, you might consider book publishing. The Internet and advances in technology have made the book publishing industry more accessible. The barrier to entry has been lowered, however this means you will have to work harder to compete. Focus on a niche within the publishing industry. Research the publishing industry carefully to discover an area that is not fully served by publishers. Start off small with 10 books and add more as your business grows.
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Things You'll Need
- Business plan
- Legal documents
- ISBN numbers, block of 10
- Book manuscripts
- Design firm
- Print-on-demand service
- Interactive e-commerce website
Instructions
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Research your business idea for a publishing company carefully. Write a detailed business plan based on your research. Include an analysis of the market, an analysis of your direct competition, a marketing strategy, financial documents, and any legal documents required to establish your business. Focus on the niche market you have selected for your publishing company. Explain why selecting this niche will allow you to excel amidst a vast number of small publishing companies.
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Fill out and file any business documents necessary at the local, state and federal levels to establish your business as a legal entity. Discuss with a lawyer the forms of business that you can establish. A lawyer can explain the legal implications of limited liability corporations versus corporations.
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Fill out and file tax forms for your local, state, and federal authorities. Work with an accountant to set up an effective bookkeeping system. Meet with an accountant regularly to manage your taxes and bookkeeping. Since you will be selling online, discuss any special tax considerations for book sales via the Internet.
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Obtain a block of 10 ISBN or International Standard Book Number from Bowker ISBN Agency. The ISBN is universally used to identify books. Purchase the small block of 10 to start off and expand as your company grows.
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Solicit manuscripts for books that fit within your niche in the industry. Post on classifieds sites such as Craigslist and also in trade publications. Read through the manuscripts and select those that meet your standards and that will fit within your niche.
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Work with a lawyer to draw up an agreement for authors. Enter into legal agreements with the authors of the manuscripts that you selected. Edit and proof the manuscripts. Have several people proof the manuscripts. Outsource this work if necessary to ensure that the manuscripts are free of errors.
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Locate a design firm that specializes in book layout and design. Hire the firm for the layout and design of the books you will be publishing. Review and approve the proofs. Work with the firm throughout the process to ensure that the design and layout matches your key demographic as well as the content of the book.
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Research print-on-demand services and find one that will meet your needs. A print-on-demand service will provide you with an affordable option to printing your books. As a start-up you will protect your company from any huge risks with a print-on-demand system. A print-on-demand service prints a book only when it is ordered. The service will print, package, and ship the book to the customer. It makes the financial risk for publishing a book very low.
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Work with a web designer to design an interactive e-commerce website. You will use the website to market and sell the books that you are publishing. Integrate social networks so that there are options to share the contents of your site throughout these networks. Design a forum and post regularly to a blog page. Use the forum to generate feedback and give insight into your company. Invite the authors to post guest blogs. Foster a community on your website.
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Tips & Warnings
Start an online book discussion group through your website forum.
Protect the books you are publishing by ensuring they are copyrighted.
References
Resources
- Photo Credit Books image by explicitly from Fotolia.com
