Can You Make Money With A Magazine

Can You Make Money With A Magazine Magazines have been around for years now. Think of just about any niche or topic, and there’s likely a magazine out there dedicated to it. Knitting? Check. Cars? Check. Celebrity culture? Check. These magazines provide readers with valuable information each week or each month, and not only that, they make a profit. They can be big business. You’d think that people are put off creating their own magazines these days, what with the rise of blogs and the online world, however, magazines are still going strong. Around 1,000 new magazines are launched every month. 9 out of 10 new magazines fail. Even Benjamin Franklin’s own magazine, ‘General Magazine’, was cancelled after size issues. They are certainly tough business but that doesn’t mean you shouldn’t go for it if this is something you want to do. With your magazine you can share information on a topic you’re passionate about, as well as make a living, providing it’s successful. The three ways that magazines make money are circulation and subscription, classified advertising and print advertising. So, can you make money with a magazine? Yes but read this first. Ways Of Making Money With Your Magazine Gaining Subscriptions Buying a single magazine may help to make a little money for the publisher, however, when you factor in things like cost to make the magazine, as well as transport to the news stand or store, they actually arent making much money at all. Subscriptions are the most effective way for magazines to make money, as they are cutting out the middleman and getting the publication to the consumer. Companies also collect subscribers addresses, which can be used to advertise new products of interest or to encourage to re-subscribe. Classified ads can be quite expensive for companies to purchase, even in small time magazines. Magazines also usually allow advertisers to take advantage of unused space in the front and back cover. This helps to fill up pages, make the magazine look better, and allow them to make the most money. Knowing The Risk And The Cost It is estimated that 86% of adults read magazines, so if you create something compelling enough, there’s a good chance that people will buy it. However, having a solid plan and a great idea for your magazine is important. In terms of other business startups, it can be inexpensive. Experts claim you could get your first copy to stands for as little as $15,000. However, it’s then up to you to sell that magazine and keep it profitable so you can continue making a profit and making the magazine. It takes work. Doing your homework and planning well will give you a better chance of survival. Knowing the magazine business is essential. Read books, check out websites and associations, and head to professional gatherings. Learn as much as you can. Even spend a little more time at the newsstand checking out the magazines there! Make sure that what you provide is totally unique. Only after doing as much research as possible should you create your business plan. Make sure you cover industry analysis, your competition, your ideas for marketing, finances, and other relevant information. This will take time, and isnt the sexiest part of coming up with a magazine, but it can indicate your commitment levels. It’s important to note that even once you’ve launched your magazine, done all of the advertising work and done pretty much everything you can, you can’t expect it to fly off the shelves. A 40% sell rate considered excellent when it comes to newsstands. Make sure you know your numbers and figures so you dont get disappointed. This isnt just about your passion. It’s a business, and all successful magazine businesses were founded with a plan. Knowing your figures and knowing the magazine business, not just the niche you want to start a magazine on, is a must. Getting The Finances Together Funding for your magazine is going to be one of the hardest things to secure. Getting funding is much easier than a prototype, however, you’re going to need money for a prototype too. It can be a good idea to use your own money to begin with, and only secure funding once you’ve proven that you’re willing to invest in this yourself. Many people who go about creating their first magazine use personal investment, get a small loan, and even ask friends and family. Printing, paper, and postage are the biggest expenses when starting a magazine, so keep that in mind. Figures will depend on publication frequency and circulation of course, so we can’t give you an exact here. It’s up to you to do the math. Now, it can take 6-12 months before you see any cash returns, so cash flow is key. This is why most magazine entrepreneurs fail; because they didnt think about how long it would take to get money back in the bank. They did all they could, came up with a great magazine and a great plan, but they didn’t think about cash flow. You need to plan for slow cash flow in the beginning so you can keep things going while you’re waiting to turn a profit.     Build Your Prototype A prototype is going to look much more attractive to advertisers and investors. It doesn’t have to be too complicated this doesn’t need to be the legitimate first copy of your magazine. It should have the design and substance of the magazine overall, and display your level of commitment to getting it off the ground. Making Sure You Attract Advertisers Making sure you’re landing big advertisers means finding them first. It takes work. You can contact regional advertisers directly to begin with, but be ready for a yes by having everything you need ready for your sales pitch. Prepare yourself by practicing regularly. Using The Internet Now, people think because they are starting a physical magazine, they don’t need to think about the internet. This is false. The internet is still important, especially when it comes to things like media kits, gaining subscriptions, ads, and content. It has a lot of potential to help you to build your brand, spread news of your magazine, and more. Dont be afraid of the internet or snub it, because you’ll miss out big time. Be smart and know just how to use it to your advantage. You can only go to print when you’ve figured out all of these elements. You’ll also want to look at sites like www.printsafari.com so you know exactly what size your magazine will be have every single thing in place so all that needs to be done is print your magazine. It should be real in your head before it’s real in the physical.   Remember, it’s up to you whether you wait until you have all of the cash you think you need, or you start with what you can get and cross your fingers. You may have to take a leap of faith, like manay magazine entrepreneurs do. It’ll mean using the money you do make smartly, making frugal decisions, and keeping track of absolutely everything. However, getting started sooner is often better than waiting. Conclusion: Yes, you can make money with a magazine. However, you need to consistently prove your level of commitment. Putting your own money into the magazine, building prototypes, searching for advertising, and making sure you utilize the internet are all important aspects of getting it off the ground. Good luck!