To start a magazine, a person needs to do research and come up with a business plan, garner funding, create a prototype to attract advertisers and determine the circulation area. Those who do research and make long-term goals have a better chance at success launching a new magazine into the market.
Starting a magazine from scratch is a risky endeavor. Many new magazines succeed, but even more fail. Following a few simple steps helps improve the chances of success.
Step 1: Do some research and make a business plan
Research the field to determine a unique flavor for the magazine. A business plan should cover ideas, such as the topic of the magazine, industry analysis and audience, marketing strategy especially related to the competition and the management team and finances.
Step 2: Come up with funding
Raise money by asking family, friends and friends of friends. This initial funding is used to help produce a prototype and as cashflow until the magazine starts to turn a profit.
Step 3: Create a prototype and determine circulation area
Use some of the funding from Step 2 to create a prototype of the magazine. This will help garner more investors and attract advertisers. Ad revenue is the main way magazines make money. Also determine the circulation, for example if it is going to be a local magazine or nationwide.