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How to Start A Magazine In Nigeria
Startup Capital: This refers to the required money to start a new magazine business. It's also known as the ‘seed money’. Such money is used for procurement of licenses, permits, office space, product development, marketing or any other reasonable expenses. Securing loan to start a business would be a huge risk which is not advisable. In any case, it’s more appealing to secure a donation from family, friends, well wishers or some fundraising sites online.
Registration: For you to have your business name registered, the first step is for you to choose a name suitable for your business and pay a visit to the CAC office to know if your business name has not been chosen by someone else. When choosing your name, be assured that the name is related to your niche (product or services). After chosen available business name, proceed to the registration of your business name by obtaining a Business Name Registration form (FORM 001) at the CAC office. After you have carefully and accurately filled the form, you would be required to make a payment of ten thousand naira only (N10, 000). If you don’t want to go through the process yourself, you can consult a lawyer to help you out. You should be presented your Business name Certificate of Registration in 2-3weeks.
Social Media Account: The invention of social media to our society and its acceptance has made it a force to reckon with. It must be said that every business in the world now has social media accounts due to its broad spread of information to people. Magazine business needs an online presence not just because it is accessible but it reduces the cost of spending. Social Media will work perfectly in your favour and you would be amazed by how your business spreads through the platforms within weeks.
Employees: Hiring of staffs in Nigeria can be tricky due to people’s behavioral act towards a business that is just starting up. Employees have this negligent act in handling the business, therefore you need to examine the listed factors and put them into consideration. Get competent qualified individuals involve in every department of the magazine sector such as graphic designer, editor, marketers and sales personnel. With the right employees, the business will thrive in quick succession.
Choose A Niche: The best niche to choose is what you have an interest in. if you have a passion for cars, then choose car as your niche. Your passion will help you to succeed in the business. Get foreign car magazines, learn from them and build on it.
Advertisement: In other to make money in magazine business, there is a huge need for you to source for adverts to be placed on your products. You will need to approach companies and individuals for adverts and make sure your price is reasonable enough. Don’t be all about the profit at the start of the business, as this can kill your business and reputation. Make sure provide a distinct standard for the production and the contents. These alone can attract investors and advertisers.
Start A Magazine In Nigeria
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