Budget

As I have chosen Hearst magazines to publish my magazine, I will receive funding from the publishing house to get it up and running. This means that I need to work out what sort of costs my magazine will have. This includes wages, equipment, domain, and billboard advertising. I will try and keep costs  minimal, but this could be quite difficult!

To put my website online, I will be using a site called Dataflame, which costs £5.99 to purchase an original domain name, and then £5 per month on top of that to keep the website online. This pricing is really good, but if my site became popular, and the traffic was prominent, then I would have to switch to another company who would be able to take on more traffic, though it would be at a higher price.  £66

I initially thought to go with a local company to produce the billboard, not only because it would be the cheapest option, but also because my magazine would be supporting the local community, which would further appeal to my target audience. It is a nice atmosphere to give off and portray throughout the magazine, and the audience could be attracted by the fact that Eden won't have given in to mainstream advertisers, which are potentially cheaper as they tend to do things in bulk/wider. It is better to put money into local advertisers when the magazine itself is regional, creating a sense of community amongst the readers and local businesses. It just allows everything to be more personal for my readers. This shows how my magazine is independent, and how it will not conform to the ways in which other magazines put their advertising to fruition. The only problem I saw was that there is a good chance that Hearst magazines would want to produce the billboard. Although this would mean funding for the advertisement and probably less of a budget on the magazine, it does not help with the character that I want to build within my magazine. Obviously the budget would be small, as the magazine is only just starting off. This means that the billboard would be more likely to appear in the smaller towns, such as Bodmin, as the billboards are cheaper. According to Lamar Advertising, one of the largest companies, the cost of a bulletin billboard (14x18ft) for four weeks can be around £1,200, so this is not something that would be constant, but perhaps three times a year. £3,600

Magazines need content to attract readers, so staff your operation with talented writers. Writers provide you with the bulk of your magazine's content, and if readers don't enjoy what you publish, they won't be back for another issue. Hire writers that have experience in journalism and/or publishing -- experience that they can back up with a portfolio of past work. If you don't have room in your budget for staff writers, consider hiring writers on a freelance or contract basis. I would welcome freelance writers but also have a stable team. Team: 5 people

To ensure my magazine runs smoothly, I must have different types of editors. Section editors, for example, each manage a different section of the magazine, assigning articles, reading drafts, and editing for content. Copy editors go over articles with a fine-tooth comb to pick out any spelling, grammatical or stylistic errors, and may also conduct fact-checking. Managing editors manage much of the magazine's day-to-day operations, like budgeting, scheduling and maintaining a timely flow of content from one department to the next. Team: 3 people

Magazines aren't just words, they are a visual product that relies on photos, graphics and attractive layouts that balance advertising and content. My magazine needs a staff of employees that can handle these different aspects, so maintain a staff of photographers, graphic designers and layout designers that gives my publication a consistent, manageable and visually appealing look. Staffers in these departments must be comfortable with new and emerging graphic design and layout technologies. A lot of people these days are skilled in more than one area, so I would find a general art team who have all these skills. I would also welcome freelance photographers. Team: 3 people

A magazine staff doesn't only consist of creative departments, it also requires a business staff. Most of my magazine's profits come from selling advertising space within the pages of my publication, and the business staffers are in charge of building and maintaining relationships with my advertisers, selling magazine space. The amount of advertising they sell determines how much content I can and must publish, so your business staff is in regular communication with your creative editors. Team: 2 people

Average salary for a journalist: £22,250

Average salary for a junior graphic designer: £23,400

Average salary for an editor: £26,000

Average salary for magazine business: £22,000

As I would be hiring around thirteen people, including myself, the total in salary that would be paid out in a year would be £303,450.

A mac typically costs around £1,500, and with all the necessary programs, which amount to around £800. I would need the Adobe Creative Suite, with Photoshop and InDesign. I would need three lots of Adobe CS, so it would be £2,400. The macs would amount to £13,000 altogether. I would at least need a camera to start off with, which would be the Canon EOS 6d priced at £1379 with the lens. Another necessary thing would be to let out an office, which can be £1000 cpm, so £12,000 for the year.

Total figure for the year: £335,895
PCM: £27,991.25