How do I go about starting and profitably running an educational magazine?
I am in the process of starting/publishing an educational magazine. I need suggestions in terms of content for kids, teachers, parents and school owners/managers, as well as getting advertisers for the magazine. In short, how do I create something unique and that will be profitable?
We are looking forward to connect entrepreneurs that have viable projects or business to invest in and those that needs loan between the ranges of US$1 Million to US$50 Billion for the maximum period of 3-10yrs.
Firstly be clear about what you want to achieve from running this magazine beyond just making a profit. Review your skillset and what other expertise you may need to achieve your goals.
I would start off by reviewing the competition and researching who your customers will be. Will the magazine be free or will you be charging readers to buy it. Different models will work for different markets. Do your homework first or you will be spending good money after bad and if you dont understand who your target readers are and what they want then you will be missing the point. Good luck with it.
You can leave visual advertising at schools and colleges, or even ask teachers to share it among students. Business cards would be great, but I think flyers are even better. You can choose an appropriate design online and then just print it down ( via these guys https://styleflyers.com/product-category/premium-flyers/business , for example ).
These answers are really good----If in Nigeria you have entrepreneurial mentor like we have in the US ------Score counselors get them to help you with a business plan similar to what Roland and others have outlined
For content related to Kids/Parents and School I think it will be good if you can focus on the current issues facing the kids which equally worry the Parents and the School. Some examples will be
- Excessive Digital (Technology) exposure,
-Insensitivity towards fellow citizens, planet and enviornment
-Bad eating habits,
-Students attitude and behavior,
-Educating parents and teachers on the evolving trends and culture gap.
I hope this helps!
You don't...unless you have some formula that others have missed. Publishing is not a growth market and magazines are on a long downward trend. You have two major problems with your theses, first is that advertising support and an educational format can co-exist. Kids and school teachers do not co-exist comfortably with commerce. Education and Advertising are poor bedfellows and you will have trouble getting one if you aim to please the other. Check Scholastic Publishing's history. I worked on the launch of Sports Illustrated for Kids which was initially dedicated to literacy. I carried advertising but was free to schools. Schools can't invest in printed products when they need computers and online content to stimulate today's kids.
Look, a great idea will always have a place but broad strokes like education and profit are a long time removed from mass market success. The cost of paper, printing and distribution along with the cost of unique, quality content make it unlikely there is a "big" idea in this old paradigm.
You want to serve education, they don't need a magazine. You want profit, you don't want a magazine. Find your passion around either educating or publishing, embrace technology and you have a chance to then find both.
Prior to spending dime one on anything, make sure you have a very large list. Also, make sure it is a digital list - email address and as much other demographic and psychographic information possible.
The remainder of the answers already supplied I can affirm are true to form and should be considered..
Before you print issue 1, have enough advertisers to cover the first 6 month of printing and distribution costs. Most media start ups I am familiar started production or went on air without enough funding that they closed in 6-12 months. Content for kids and education will vary widely depending on the distribution parameters, One state no big deal, multiple states could be a big deal..Every step needs to be thought through before executing. Check the rules and laws for each topic.
Take a minute to study the behaviors of the people that comprise each area you listed. From this information you should be able to determine the sources of influence that trigger ones desire to embrace your magazine. The uniqueness comes with the ongoing study of the audiences behavior so that the magazine evolves with change. Profitability will be the results of the uniqueness that inspires and influences growth of your audience.
I provided an enterprise software system for a magazine. It was a high quality production. Their business model was mostly funded by membership. Covering our state it concentrated on interesting things about our state and was promoted for use by school districts. It was a non-profit organization. Donations and membership packages provided the majority of income. Advertising in the form of feature stories and block ads was also a source of income. The magazine industry is tough, you will need passion and commitment.
1. Obtain professional help: Find a mentor, pay a consultant or both. Preferably with expertise in publishing.
2. Make a lot of choices: profit/non-profit, type of entity, location, publication frequency, ideal market, distribution...
3. Start with resources. Do you have startup capital, People who share your vision? The magazine I mentioned invested around $20,000 for software that saved $40,000 annually in wages and $2,000 in printing costs each issue. This organization had an influential family, a passionate staff. The family and relatives made large donations periodically.
4. Identify your mission: What vacuum, need or void are you filling? Your own and Roland's questions and questions that surface along your journey should be answered timely.
5. Be relevant: Create an identity that your market can embrace.
6. Plan: Prepare and execute a business plan with specific objectives and target dates.
7. Know when to shut it down.
I hope this aids your success!