Achieve Fame And Fortune As A Publisher
Of A Trade Magazine
It should be interesting to note that in a country of about 250
million people, nearly everyone is seeking some kind of
part
time income, business starting ideas, news and views on
financial matters, moneymaking ventures, a profitable cottage
industry... or a way to enhance their lifestyle in some way.
One of the most popular of all spare time businesses is mail
order selling. Surprisingly, there are relatively few
publications currently in print for this vast market.
Yes, there are a few slick magazines and professional trade
papers serving the direct mail (usually referred to as direct
marketing) field... those megabucks companies who mail tons of
letters and brochures, run full page ads in national
publications, and whose advertising budgets are in the tens of
thousands of dollars annually.
On the other end of the scale, we have a few good publications
for the beginner, the hobbiest and the person looking for spare
time income. There seems to be a void between these two
extremes, however, specifically the small to medium mail order
operator who has apparently been overlooked by all publishers.
There are approximately 300 smaller publications currently in
existence, mostly the one or two-page variety known as ad
sheets, but these are primarily self serving, basically in print
to make money for each publisher, but contributing very little
to the overall mail order field or to the individual small or
mid-size dealer.
Many of these smaller papers lack the quality of appearance or
physical size, and the result is that they don't attract
attention or command the respect that large publications enjoy.
CAN YOU FILL THE VOID?
There is a definite need for a good mid-size trade magazine,
and the market is out there. What requirements would be needed
for entering the field with a new publication? Aside from
the
capital, a background in advertising, marketing, direct mail or
sales would certainly help. Experience in printing, graphic arts
or as an employee at a newspaper or magazine would certainly be
an asset. But all these can be learned, so a lack of any of them
need not deter you from becoming a publisher of a trade
magazine. If you have the desire and interest, spend some time
at your local public library and check out some of the books
that can give you a crash course in publishing. You can then buy
a few to use as daily reference guides to help you in your new
venture.
CAPITAL INVESTMENT
Naturally, it will require money to put this idea into print,
but the amount is negotiable, depending on what scale you wish
to begin, how elaborate you plan to make your publication, how
my issues will be printed, etc. Will you go alone as a sloe
proprietorship, as a partnership with your spouse, relative or
friend, or will you incorporate and take on several partners,
each of whom will invest a predetermined dollar amount in the
new venture? The answers to these questions will help determine
the starting level.
You might plan to invest $50,000 in getting your first issue
into print. Then again, you may not. If necessary, you can
do
it for about $100. This meager amount will get you into print
on
the lowest possible scale, with the smallest size, least number
of pages, and fewest number of copies printed. But at least it
will be a start. Let's be a little more realistic while still
being on the conservative side, and estimate an investment of
$1,000. There are many small publications on the market that
probably are published for that amount or even less.
THREE BASIC ELEMENTS
These are what will determine success... or lack of it:
1. CIRCULATION - The smaller ad sheets generally have a
circulation of 1,000 copies or less per issue. Some of the
better magazines and papers boast 3,000 to 5,000 circulation...
and few will quote circulation figures of about 10,000. Anything
less than 5,000 probably won't be worthwhile if you hope to gain
recognition and enjoy growth as a publisher, so try to make that
figure your minimum target.
2. CONTENTS - Aside from physical appearance, which should
certainly be first rate (typesetting, graphics, halftone
illustrations, paper stock, cover design, layout) a new
publication will be judged on its contents. A worthy magazine
will have its readers' interests in mind by including material
to help them start a new business, increase results of their
existing business, keep them abreast of new trends, developments
or changes in the field that might reflect on their operations.
Primary features will include articles by recognized
authorities, writers who have something to contribute, new
ideas, book reviews, news about latest products on the market,
an editor's page, letters from readers... anything that will
help make your publication read and valued. A supply source
directory or listing is another important feature that will be
found in a good magazine.
3. ADVERTISING - This is what feeds your publication, keeps it
growing and growing. An adage which has become overused but is
still valid is "Without advertising a terrible thing happens:
NOTHING." Businesses must advertise to sell... a magazine must
solicit their advertising business to survive. There must be a
marriage between advertising and editorial content that blends
and balances, keeping both reader and advertiser happy. You need
advertising revenue to keep your publication in existence, but
too much of it with little readership and people will not read
or subscribe. Too many features without advertising to support
the magazine and you will lose money. You should strive for a
70/30 ratio at the start with readership on the heavy side...
eventually trying for a 50/50 balance.
HOW TO DETERMINE AD RATES
There is no definite answer to this, but a good rule-of-thumb
is
$1 per inch of space per each 1,000 readers. If your circulation
is 5,000 then a fair ad rate would be $5 per inch. When you grow
to 10,000 circulation you can then increase the ad rate to $10
per inch and so on. To get an overview on the subject, pick up
several magazines with various circulation figures and check the
ad rates for each. You will then be able to more accurately
determine your own ad rate schedule and scale rates according
to
the space you sell from a single one column inch to half page
and full page ads. Naturally, the big money is selling the
larger space, but the majority of steady advertisers will be
using the smaller one and two inch ad sizes.
Be Sure To Include A Classified Section
Many advertisers, especially beginners, swear by classified
advertising, so you should offer it. Most authorities agree that
classified advertising, dollar for dollar spent, is the
advertisers' best buy. Results are usually smaller, but so is
the cost to advertiser compared to larger space. Your ad rate
should be approximately 5c per word per thousand readers. A
magazine with 10,000 circulation would then charge 50c per word.
All such discussions about ad rates is speculative at this
point. After your first issue is in print, you can analyze the
entire situation and make price adjustments as necessary.
TYPESETTING & LAYOUT
This is probably the most difficult part of putting a magazine
together, and if you don't have prior experience, you may have
to employ some outside help. You can purchase layout sheets from
a graphic arts supply store. These are sheets lined in light
blue ink indicating where to place copy, illustrations, ads,
headlines, etc. The printer's camera doesn't see the blue, so
the lines won't be printed, just the copy you have pasted on it.
Use rubber cement or a wax stick for laying out your copy. It's
fast, efficient and clean.
THE PUBLISHER ISN'T THE PRINTER
Let's make this distinction: You will be the publisher of your
magazine, the one who makes it available to the public. The
printer is the one who does the physical work of putting ink to
paper. Some publishers also do their own printing, but most of
them sub-contract the actual printing to a commercial print
shop. Even before you have everything ready, shop around and
talk to your local printers. Tell them what you plan to do and
ask for a price quotations on printing your magazine. Try to get
at least 10 estimates because prices vary greatly among
printers. If you need some help with the layout or typesetting,
ask if they will be willing to assist you, and at what
additional cost.
TURN YOUR TYPEWRITER OR COMPUTER INTO A TYPESETTER AT FIRST
Professional typesetting is very expensive. You can save this
expense by doing all your own typesetting on an electronic
typewriter, PC or word processor. Later on you might want to
invest in one of the new desktop publishing systems that can pay
for itself many times over.
Whatever method you use to write your editorial material, type
one section at a time, then paste it on your layout sheet as it
will appear in the final printing. This is the most economical
method, but it is rather time consuming, so you might want to
turn this chore over to your spouse, family member, partner or
an outside typist. There are many home typists who will be happy
to do this job for you, and the cost is relatively low.
SOLICITING ADVERTISERS
Long before you begin preparing your layout sheets for your
magazine, go after advertisers. There are three ways to go about
it:
1. Run a small ad of your own in publications that are currently
read by the very type of advertiser you want in your publication.
NEW MAGAZINE COMING SOON Reach a greater share of your market
for less. Target date March 1st. Projected circulation: 10,000.
Special low introductory rates for new advertisers. Write for
Discount Rate Card and special offer.
2. Scan all the publications carrying your potential future
advertisers, clip their names and send them your discount offer.
Make it enticing because you'll need all the advertisers you can
get. Don't be afraid to give them half price, one time
discounts. Include your offer in a good sales letter and
circular or brochure that fully describes your new magazine. Be
sure to include a listing of all the important features you will
be publishing.
3. Rent a list of businesses suitable for your magazine. If you
live in a moderate to large city, check your local Yellow Pages
for list brokers (under the Advertising heading) and call them.
Tell them the type of names you're looking for. Make the same
type of introductory discount offer as above. Remember: For your
first issue you want to get as many new advertisers as possible,
regardless of what size space they buy, or whether you make a
profit or not. Your objective should be to make your magazine
familiar to potential new advertisers so they will come back and
repeat their ad schedules.
A little trick that some publishers use is to clip ads of some
of the top names from other magazines and reprint them in their
own publication free. It can serve two purposes; First, it adds
prestige to the magazine by implying that the advertisers have
paid to be there, giving a good impression to other potential
advertisers; and second, if the advertisers get good results
from this freebie, they might want to come back with a paid ad
in subsequent issues. To do this right, of course, you should
key each ad and send a checking copy to all advertisers you have
included, informing them of the free ad so they can check
results. However you get advertisers for your premier issue,
don't be too concerned with making a profit from them at this
early stage. You might, or you might break even... but you will
probably lose a little. the profits will begin coming when each
advertiser starts repeating in future issues.
BUILDING CIRCULATION
When your magazine comes from the printers you'll want to get
it
out to the readers and potential subscribers as quickly as
possible... and to as many as possible. If you have
predetermined a circulation figure of 10,000 copies, most of
them will be given out free. That part will really hurt your
budget, but it's an expense that you'll have to face. You can't
very well run an ad hoping to sell 10,000 copies. It would
probably take several months to a year to get them distributed,
and you need speed right now.
You'll have to rent a name list. You'll also have to mail under
a Bulk Mailing List, so check with your local post office and
apply for one early. The savings will be well worth it.
When mailing sample copies be sure to include a strong pitch
for
subscriptions. You'll probably have a cover price of about $2
or
$3 with a subscription price of about $12 to $20. Somewhere
between idea and publication date you'll have to decide whether
your magazine will be a monthly, bi-monthly or quarterly. it
would be a pretty good idea to begin with a quarterly until you
get your bearings and get a few issues into print. You can
always step things up and publish extra issues if the
opportunity is there, but it can mean disaster if you commit
yourself to a monthly and can't meet the deadline. Advertisers
and subscribers will be on your neck. Play it safe and give
yourself some breathing room with a quarterly.
In your mailings of sample issue, be sure to include offers for
advertising at special introductory rates, possibly a discount
on a trail subscription. Within the magazine itself, you should
also have some offers of your own... special products of
interest to readers; books, reports, services you offer...
anything that can be helpful to others and profitable for you.
So, is there room for a new, quality magazine? Of course. There
will always be room for new blood in any field, and there will
always be someone with insight, daring and initiative to start
a
new magazine. Why not you?
We've been using a general mail order magazine as our example
in
this report, but the principles can be applied to any market
within the general mail order scope: classified advertisers,
book & information sellers, consultants and services,
copywriters, artists, legal aid, etc. Whatever your field of
interest, check the magazines already in print. If there isn't
a
good one, now's the time to start your own. If you don't,
somebody else will.
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