Starting a Magazine Company

naff123

Hey there all

With thanks to this website's influence I had an idea.

In the next few months I am looking to establish my first business in a Magazine where my USP will be low income families and the unemployed by giving them advice on making money for themselves and posting job adverts and getting companies to advertise their bargains in the magazine which will be local area (East Kent).

I.e one of my articles I really want to run is Fashionable for a Fiver to prove you can look brilliant for a night on the town for £5.00 via the charity shop or budget priced clothing. I will possibly run it for free of charge issues just rely on advertisement and sponsorship to make it profitable. Therefore meaning the readers don't have to pay

What do I need to do in regards to founding the business to set everything up so I can legally do this and what software is best for designing a prototype and template of the magazine?

Horace

Do a lot of research before you even consider setting up.

Magazines are expensive to produce - there is the paper cost, the print cost, the advertising space to sell etc. etc. Is there a need for this type of magazine - ask your target market.

To produce magazines you need an almost bottomless pit of money because of their cost.

Not trying to put you off but trying to get you to be realistic.

martindow

Were you inspired by watching the Apprentice last night?

stephenni1971

How much of a budget have you put aside to get yourself started?

naff123

martindow wrote: »

Were you inspired by watching the Apprentice last night?

I was actually but i have for 2 or 3 years been wanting to do this as well!! but that gave me the can do attitude to think !!!!!! it ill get off the sofa and do something with myself!

Slinky

Sorry to rain on your parade, but a magazine targeting people with no spending power isn't going to attract advertisers. I run a couple of community magazines so I do know what I'm talking about here.

A serious rethink is required. If you can't get advertising you'll be dead in the water.

jexygirl

Would also point out that whilst fashion for a fiver is great - feeding 5 on a fiver, would perhaps be more relevant and of more value, to the target market...
For your market this, without question, has to be a free mag, in view of target group... they quite simply already watch pennies and a random mag is a luxury they cannot afford - a free one that they may get a recipe from or a link to something bargain, or an interesting editorial is ace = but is also what MSE does... lots of info - for free.

I am not so sure you thought the rest through. Advertisers to this market will advertise what? What are they paying for that will bring a return to them, why advertise a service to a market that cannot afford more than basics?

I am a total advocate of helping and wanting to help those on low income - however i see so many "flaws" in this market or "USP" as a buisness it is untrue.

paddyrg

Unique, yes, but for what reason is nobody else publishing to that demographic? Advertisers like to target ads to demographics, and telling them your core demographic can't afford their product may not be what they want to hear! Maybe a couple of council ads if you can prove your reach and penetration, but tread gingerly and don't sink too much cash until you know it can pay!

Debt_Robot

Slinky wrote: »

Sorry to rain on your parade, but a magazine targeting people with no spending power isn't going to attract advertisers. I run a couple of community magazines so I do know what I'm talking about here.

A serious rethink is required. If you can't get advertising you'll be dead in the water.

The above comments are spot-on.

The market you want to sell to is not attractive to advertisers, to put it mildly. Advertisers want ABC1s, that is middle class people in high income homes who have disposable cash to spend. Advertisers don't just target demographics - they target specific types of people they think want to buy their products.

Furthermore, the magazine market in the UK is in turmoil with mags closing left, right and centre.

I'd advise you to start an online magazine and flog online advertising where the ROI for advertisers is easier to measure.

On the other hand, you could create a specialist print magazine for a specific market that likes hobbies, such as a knitting magazine etc.

Owain_Moneysaver

I think there would be some advertisers who would be pleased to have targeted advertising to that market sector, but they're probably advertisers who would be in conflict with the stated aim of helping people on low incomes to manage better. I'm thinking of debt management, payday/logbook loans, sell your gold, buy your furniture at inflated prices on weekly payments, etc.

Also most people buy magazines for aspirational reasons - they want to see the house / garden / car / holiday / partner they can't have but can dream about getting a bit closer to. There's a risk that a more 'down to earth' magazine will turn into something like wartime information on how to feed a family of four on two potatoes a month.

WhiteHorse

Publishing is one of the fastest routes to bankruptcy known to man.