You can launch a magazine for very little, but you may find you get what you pay for.
Magazine start-up costs can range from $1 an issue for a volunteer-written zine to $20 million for Oprah Winfrey's O-The Oprah Magazine. Costs vary depending on whether you want to be national or local, in print or online and how much, if anything, you pay your contributors. The greater your ambition, the more it will probably cost to make your dream a reality.
Goals
The start-up costs of your new magazine will depend, in part, on your goals. A money-making publication that attracts national advertisers won't be cheap: The publishers of PC Magazine estimate it would take $3 million to launch a similar publication today. If your primary goal isn't profit, you can get by on much less: The online speculative fiction magazine Strange Horizons is a nonprofit operation run by a volunteer staff because its goal is publishing first-rate fiction, not raking in cash.
Print or Online
The financial prospects of your new magazine will vary depending on whether you decide to put out a print edition or publish only on the Web. Strange Horizon's Mary Anne Mohanraj suggests that a print magazine has a better chance of turning a profit than one that's online: Readers may pay $6 or $10 for hard copy but expect to get material online for free. However, you'll also have to spend more on paper, printing and distribution costs for a print edition, and you'll still need to have an online presence.
Staff
The more talented people you can attract -- writers, photographers, editors, Web designers, graphics professionals -- the better your magazine will be. If you're a nonprofit or a literary magazine, your vision may draw people willing to work for next to nothing; if you want to be a profitable venture, your staff will probably expect to be paid. At the bare minimum, you'll need an editor, a photographer, a marketing team and someone to write articles.
Considerations
If you do want to make a profit, you'll need to approach your publishing venture like any other business. Draw up a business plan that includes your potential revenue -- subscribers, single-issue buyers, advertisers -- and your expenses for the first year. If your projected costs outweigh your anticipated revenue, find ways to fill the gap, such as taking on investors, cutting costs or taking out a loan. If there are established magazines targeting the same market, figure out how you're going to draw their readers to your magazine.
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