Almost every employee associated with the publishing business is thinking about opening their own magazine. Since many of them know the structure of this business from the inside. Nevertheless, in order to properly open a magazine, it is necessary to use a typical business plan for opening a magazine, which can help in attracting investors or obtaining a business loan from a bank.
Each magazine is intended for a target audience, therefore, before opening a magazine, it is necessary to study and check its availability, quantity, and also analyze the market for printed publications of a similar type. When analyzing the market and drawing up a business plan, taking into account the positive and negative aspects of this type of business from competitors is simply necessary, since it will avoid miscalculations in further work when opening a magazine. If there is a sufficient audience, then you can begin to determine the organizational and legal form of the journal and obtain registration documents from the relevant authorities (tax authorities, municipality). The most optimal organizational and legal form when opening a magazine is - an individual entrepreneur with a circulation of more than 10,000 copies in A4 format.
After determining the main ways to achieve the goal, it is necessary to draw up a marketing plan for promoting the magazine in the market. One of the points of this plan should be the conclusion of contracts with distributors of printed materials. In addition, it should reflect the original ways of implementation, depending on the subject of the journal. In addition to the marketing plan, there must be a financial plan that will allow you to properly plan the initial funds required to open the magazine. The payback period for a magazine of any type is carried out for a period of six months or more. Therefore, the initial funds should take into account the rental office for the editorial office, its equipment, staff salaries, printing of the publication itself, promotions and advertising. These costs make up a decent amount, which is not needed one-time, but gradually. The profit from the magazine will begin to come in approximately 2-3 months, and its full payback usually comes after 18 months of the magazine's operation. You can shorten the payback period by increasing the circulation of the publication and marketing strategies.
