Have you been considering starting a magazine business? If so, then I applaud you for having such a wonderful and terrific business idea that will no doubt make you a millionaire if done well.
The online world has made many would be entrepreneurs think that printable magazine business isn’t a viable business, but they are wrong.
Starting a printable magazine business is a millionaire idea because the potentiality of it becoming the-next-big-thing in town is evident and glaring.
The opportunities in this business are enviable; you can end up having an online platform, an app format and a hardcopy that can be felt and seen. These three format spills in money like a river.
Although, starting is hard, which business isn’t? What matters is that you’re passionate to make this dream of yours become a reality. It is that passion that propels you into facing every challenge that might arise. What matters is that you take it one step at a time. A step a day is all you need to make it happen.
In this article, I’m going to guide you into starting a profitable magazine business that will make you rich here in Nigeria, Cameroon, Ghana, Egypt, South Africa, Kenya or anywhere in the world. Let’s go!
HOW TO START MAGAZINE BUSINESS IN KENYA
1. CHOOSE A PROFITABLE NICHE
Choosing a niche is a crucial process and also determines how far you’ll go with this business.
There are lots of niche to go for, but please, make your feasibility before delving in. if possible, create a concept that totally different from other magazines out there. What can you do better? What is it that’s missing in other magazines out there?
I think it’s time to incorporate them in your magazine, thereby making it unique and special.
Below is a list of niches you should consider and when doing that, please make sure you have your target audience in mind:
Top 10 best selling magazine niche
- Entertainment magazine
- Political magazine
- Business magazine
- Fashion magazine
- Technology magazine
- Relationship magazine
- Career magazine
- Story magazine
- Wedding magazine
- Health magazine etc.
There are lots of niches to choose from. Please go ahead and make more research and be sure that you’re at the right path. You must get this right if you must succeed. If you choose the wrong niche, it will break you.
2. CHOOSE A NAME
After getting a niche, the next important step is choosing a name for your magazine business. This might seem easy, but when you delve into this activity of brainstorming for an idea, you get to understand how overwhelming it can be. It’s all right. You don’t need to rush it at all. Take a break, hang around and gain inspiration.
When choosing a name for your magazine business, make sure that the name can be branded, memorable and classy.
You can also make your magazine name fit your niche. That is, the name can indicate what the publication is all about. Example is ‘GISTIC’. User can easily know that the magazine is all about gist and nothing more.
You can also make the name abstract. By so doing, you deter mine the meaning is bears, the impression it creates and the feel. Abstract business names are best for branding. Abstract names like ‘MANIQUIC’.
3. KNOW YOUR TARGET AUDIENCE
Your audiences are the backbone of your business. They determine whether you succeed or not and that’s why you must take special care to know them, including their preferences and taste.
Having known your niche, knowing your target audience becomes easy. For example, the entertainment niche is known to be a niche that appeals to almost everyone. If you’re entering into the business niche, your target audience will be young men and women who aspire to become entrepreneurs. Their age might range from 23 years – 45 years.
The more you can define your audience, the higher your level of chances of ending successful.
4. EMPLOY STAFF
Running a magazine business entails a lot, from creating literary materials to designing, marketing and strategizing.
You’ll need to employ content creators to assist you with creating contents, even hire a qualified editor who knows his onion.
Employing creative graphic designers is an asset because they handle the overall feel of your magazine. How classic the magazine looks depends on your designer. Please do well to employ the right person for the job.
5. REGISTER YOUR BUSINESS
A business name that’s unregistered is a business that has no future. Don’t worry, that’s my personal quote. To stay afloat in this magazine business in Kenya, you must register your business with the Corporate Affairs Commission. Not only have you secure your business name from being used by another, you have set a standard for yourself.
In fact, the benefit that comes with registering your business name with CAC is tremendous. Not only will you be able to open a business bank account, secure loan easily etc, you will also attract investors and advertisers. By registering your business, you become more trusted.
You’ll need to go to the national library of Kenya to register your business name to avoid duplication of names.
6. GET YOUR ISSN
An ISSN is an eight digital number with bar code that identifies your magazines and its serials globally.
When you have proposed your business name to the national library of Kenya, go back to the office and submit 4 copies of your magazine.
Remember, you must get the ISSN number before you start printing magazine copies for your audiences.
7. LAUNCH! LAUNCH!! LAUNCH!!!
Having gotten a niche, known your target audience and gotten your ISSN number, then it’s time to launch your magazine. Launching a magazine is a big step. I honestly know how it feels. When I was about to publish my first book, I think I nearly fainted due to uncertainty, not knowing what will happen.
Nevertheless, launch it and see your dream gradually taking shape and form. This is the most important step of all and you mustn’t back out. Launch it to your friends and family, peer groups, your social networks etc. you can even reach out to blogs like AbtechBlog for more exposure.
MARKETING YOUR MAGAZINE BUSINESS
In this magazine business, you need to know all the marketing strategies you must implore in other to reach more people and attract advertisers.
Also, reach out to potential advertisers.
Although at first, it will be hard getting advertisers since you’re still new, but as you grow, every space on your publication will be a highly sought out for.
With a good magazine business plan, making it in this business becomes easier. It’s a lucrative business capable of making you a millionaire.
It’s one of these untapped business opportunities in Kenya that many overlook all the time. As you grow in this business, getting an online platform and an app becomes a necessity. Even, it can also be converted to pdf formats.