How to Start a Car Magazine
The magazine world is saturated with publications.
However there is always room for one more. The industry is very challenging and
competitive.
As an investor you will face multiple challenges in
distribution, attracting readership and quality publications. There is a
challenge of keeping ethical, journalistic integrity and type of publication
depends on your media of choice. You could focus on print or build an online
publication.
Why Magazines
The question is why invest in a magazine. The answer is
simple because people are attracted to quality content and visually appealing print.
The business is lucrative however very few survive their first year.
Challenges
Facing Print Magazine
The challenges facing print magazines are finding distribution
channels and partner retailers. Distributors pay based on actual sales not the
number of magazines stocked on shelves. An independent magazine would have low
circulation in the early days so it is difficulty attracting advertisement.
How to
Overcome the Challenges
To overcome the challenges partner with top magazines in
your industry. Join a major association in your locality for trade tips and
advice. Use creative collaborations to increase sales and widen your
distribution channels.
To succeed you need to understand your audience.
Understanding your target audience would provide insight to topics they are
passionate about. It is best to focus on a niche, create quality content and
identify with your audience.
- partner with top magazines
- Join a major association
- use creative collaborations
- widen your distribution channels
- understanding your target audience
- focus on a niche
- create quality content
- identify with your audience
How does
Magazines Earn
The tradition method for print magazines is
advertisement. To earn reasonably you need to diversify from the traditional
method and create new money making avenues. Online publications earn from third
party adverts, advert placement and referrals.
Other earning sources are paid subscriptions, product
selling and affiliate marketing. Some use editorial content to position brand
or use client targeting. Other revenue generating strategies include
sponsorship, product reviews, selling the print publications.
- earn from third party adverts
- advert placement
- referrals
- paid subscriptions
- product selling
- affiliate marketing
- editorial content to position brand
- sponsorship
- product reviews
- selling the print publications
Funding
To get the first print issue on the stands require serious
funding. Even to launch a prototype would cost money. You could try target
savings or approach a commercial bank in your area.
While approaching a bank present your prototype and
business plan. You need to have at least 1/3 of the amount you want in your
account.
A mandatory condition is to open an account with the bank
and show proof of funds. Try to secure long term low interest loans. Other fund
sources are angel investors, crowd funding, partnership or finding a core
investor.
- target savings
- bank loan
- sell equity
- angel investors
- crowd funding
- partnership
- finding a core investor
Develop
the Magazine
Before building a magazine you need to brainstorm
concepts. Use your passion as a guide to discover your niche. Find out who are
your audience and targeted demography.
What kind of content or topic, income level or age range
of your audience. Make sure you clearly define your content and reach out to
influencers. Try to network with experienced content creators for advice and help.
Finally get to know your competition.
Research
It is important to conduct a research on the magazines in
your niche. To create an online publication visit sites in your industry.
Same applies to print magazines. Find out the type of
content, audience, performance and prices. This will provide a deeper
understanding of requirements before your start.
Business
Plan
The next step is to write a car magazine business plan
and carry out a feasibility study. Use the plan to develop the product, cost,
staff strength and audience.
Develop marketing strategies and ways to attract
advertisers. Other considerations include driving traffic to the site. Proper SEO
techniques and type of outsourcing professionals you need.
Develop
the Content
The content is the most important aspect of creating a
powerful brand. Make sure you develop the content in line with audience
expectation. The content should be rich, quality and interesting.
For print you need to estimate the average number of
pages you want to fill each publication. A terrestrial magazine has specific layouts
like header, front size and photo placement. The layout of your site or
magazine is very important to the user experience.
Print magazines need to immediately capture the attention
of readers. Therefore serious effort should be made to create attractive covers
in every new publication. The covers should have captivating and interesting
titles.
Build
your Team
You need content writers, contributors, editor, front and
back-end staff. The size of the publication would determine your staff
requirements.
Other staffs are graphic artists, photographer, driver,
cleaner and accountant. Managerial staffs are publication, sales manager and
marketing manager. Online publications can use free photo stock websites or buy
photographs.
- Writers
- Contributors
- Editor
- graphic artists
- photographer
- accountant
- sales manager
- marketing manager
Advertisers
A major source of income is through advertisers. To attract
advertisers you need healthy circulation. Online publications can use third
party advertisement networks or direct placement.
The size of you readers will impact on what the
advertisers are willing to pay. Print magazines should approach local
businesses for adverts. Start small and gradually builds an audience and the
big spenders will come.
Print
the Magazine
If you want to produce locally then print the magazine. You
could purchase print equipment or outsource the printing. There are many
printing presses eager for your patronage.
Before approaching a printer you need to design the
magazine, do the artwork and layout. Create the cover and decide on the price
of the publication. Parameters to consider include determining price, number of
pages, single or full color magazine, cost of finished product.
Plan
Future Publications
Any print worth its salt plans future issues. They need
to be ahead of the game to succeed. Make sure adequate preparations are made
for new publications. A simple strategy is to create a catalog of stories or
articles to use in future publications.
Create Distribution Channels
The biggest challenge is creating distribution channels.
You can use already established print distributors by offering them good incentives.
Only print based on demand and avoid over printing. This is important if you
want to avid losses. Marketing techniques include distribution of free copies
to offices or organizing a contest.
Online
Publication
Print magazines can leverage on online publications. They
need a good domain name and host plan. Online publications should be independent
of the print magazine.
The major benefit of online content is to drive traffic
to your website. You can generate sales through adsense or other advertisement networks.
You can also consider going digital and selling subscriptions.
To increase traffic build a social media presence, use
email newsletters. This will invariably drive more traffic to your website and
increase earnings. Having a healthy number of follows would increase your
publications popularity and sharing. Top social sharing sites to consider are Facebook, twitter and Instagram.
Feedback
Try to get feedback from your audience. Important things
to consider is criticism, pricing, content. Ask for reviews and continue
building the brand.
Final
Word
Running a magazine either terrestrial or online is rather
challenging but rewarding. The driving force is to create valuable content for
your readers. A successful magazine can easily make millions of dollars.
However the contributors need passion for the job with genuine care for their
audience.
Copywrite@4profitablebusinessideas.com
