The business plan for an online magazine will escape some of the challenges of writing about a traditional hard-copy periodical, but that doesn't mean it's an easy task. The media boom of the online age has created all sorts of new market opportunities, but ironically, it's also become harder than ever to profit from these new media. An online magazine is a case in point. Print magazines have a tangible value, but most content on the web is expected to be free. News, for example, can be had in real time and at the touch of a button, all for free—so the question for your business plan for an online magazine becomes, how do you earn revenue? Is the magazine site subscription based, or will you just rely on advertising? Figuring this out first is important. From that point, address:
• The way you will find subscribers/readers
• Any new marketing plans you'll introduce after start-up
• Whether the mechanism for revenue will change in the near future
• The management team you have in place
• How you will recruit writers
The content for the online magazine is also important. How will you prepare the articles, photos, and other features of the magazine? Will you have a conventional personnel plan? What is the timeline for people's assignments, what sort of word-length do you expect from writers, and where will you license images? Talk about the subject matter, the publication frequency, and the sort of magazines (online and offline) that would pose a direct competitive threat to your business. The business plan for an online magazine also needs a financial model that estimates your revenues and expenses for a period of three years, at minimum. The team of writers and editors at MasterPlans can make this business plan for you in as little as 7-10 days. Call 877-453-2011 to get a quote today.
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