Week 11 April 3 Writing a Business Plan: The Budget

Week 11 April  3

Today we’re going to talk about the dollars and cents of magazine publishing: the budget. We’ll discuss how to figure out how much this venture is going to cost, how you can make it profitable and where you can get money to finance your project.

New Magazine Start-up Guide

Magazine Publishing: A Resource Guide for Magazine Start-ups

How to Write a Business Plan, Small Business Administration

Magazine Business Plan Outline

The Benefits and Drawbacks of Indiegogo and Kickstarter

We’ll also look at some recent magazine launches including:

Alternative Revenue Sources for Magazines

How to Raise Start-Up Capital

MagazineLaunch.com — lots of articles and resources on starting a magazine

Magazine budget discussion

DOWNLOAD: Magazine Budget Worksheet

Budget discussion questions:

  1. Will the magazine publish in print, online, on tablets or some combination?
  2. How often will it publish in print — monthly, quarterly, etc.?
  3. If you have a website, how often will you update online — daily, just when the print edition comes out, some content in-between print editions?
  4. How will you pay staff — full-time salaries, part-time, no pay at first?
  5. Will you have an office or have people work from home? What will your office need — furniture, equipment, phone, Internet, etc.?
  6. Consider different sources of revenue — paid circulation, single-copy sales, membership, product sales, events, digital advertising, print advertising. How do you plan to get revenue?
  7. How much do you need in start-up funding?
  8. Where will you seek start-up capital — venture capitalists, partnership with an organization, crowdfunding campaign, bank loans, Small Business Association loan, friends/family?
  9. Discuss the scale of your start-up — low-budget (no paid staff, no office), medium budget (a few paid staff, bare-bones office), high budget (full staff, office).



About rkanigel

I'm an associate professor of journalism at San Francisco State University, where I teach Introduction to Online Journalism, Reporting, Newswriting and other courses and advise Golden Gate [X]press, the student newspaper. I was a daily newspaper reporter for 15 years and I've written for many magazines and websites, including TIME, U.S. News & World Report, Prevention, Health, Reader's Digest, lime.com and CNN.com.

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