If you have ever dreamed of owning your own magazine, it might be a reality if you are able to plan correctly. Making a business plan that includes the details of the market potential and a detailed plan of the product you are hoping to create, might be the starting block of owning your own magazine.
There are thousands of magazines on the market, and new ones launching each year; however, the statistics of a magazine surviving are relatively low. Some experts blame this on an underdeveloped business plan and rushing into production before you are ready.
Finding investors for your magazine is difficult; there are many hopeful magazines all looking for the perfect investor who will realize their dream, too. Nevertheless, this is not reality, and showing dedication and commitment to the magazine and even creating a prototype will allow potential investors to see that you are determined with the concept.
If you are not aware of the magazine business and have little experience in this area, thinking you are going to go into the business and make millions is just not true life. Gaining experience in this area before you go it alone makes sense, but this is time and before you launch any publication, you need to make sure you have the basics in place, from the magazine sales merchant account to the companies wishing to place adverts.
Even if you have the best editorial content and the design is fantastic a magazine can still fail, it needs readership; sales, and advertising for even the most basic of magazines to see it past the first issue. There is a 70% failing at this point. Surviving that first year is going to decide if the magazine has the know-how and the ability to turn a profit on the original investment.
Therefore, if you have dreamed of being the owner of a magazine, this dream could be possible if you spend enough time getting the planning stages right and securing the funding for those first few issues, which will decide if your magazine is what the 80% of adults who read magazines, are looking for.
EMB can help, contact us today for a magazine sales merchant account