Magazine/paper funding

[timmoff]

Hi,

I've been researching the possibility of starting up a publication in my area. I have done my research, and although not a revolutionary idea i feel a niche does exist. As with any publication I expect it to be funded and make a profit via advertising sales. My problem is over the first couple of issues e.g. attracting advertisers to a new magazine as I do lack initial funding. Do you think it is unreasonable to attempt to gain some kind of magazine sponsor - be it a local company (this would be quite fitting for the magazine type). Again the difficulty lies in having a hypothetical magazine that is not yet in publication. This will also be a problem when selling ad space in advance.... does anyone have any ideas please... I would appreciate your insight. I have considered offering excellent introductory rates to advertisers and perhaps setting up long term contracts at exceptional rates. I am sure I'll be running at a loss over my first few editions, before my market is established but naturally I am trying to minimise these effects. Any funding ideas would be much appreciated. I know about the princes trust etc, and am considering maybe finding a few small financial backers. I have also considered getting a magazine sponsor which would be quite fitting for the magazine type..... many thanks for your help.

Thank you

[Statler]

Hi,

I would recommend putting together a thorough business plan. For example, potential advertisers / funders will want to know the size of your target market before they get involved. Also, have you identified who your readers will be? What else are they interested in? All of this information will be of use when it comes to marketing and advertising, eg Loaded magazine and a company such as Laura Ashley have different target markets, so would not be interested in being associated with one another.

You are correct to presume that magazines generally make a loss until they become established in their particular genre - will you be able to cope financially? Again, this information will be of interest to the likes of the bank.

I would continue with your research, and start to look at the costs of setting up the magazine and sustaining it over a few issues. Often it is best to do a worst and best case scenario, with the former being of most use to you, as it will show whether or not your idea is financially viable.

Good luck, and keep us informed of your progress,

Lee