If you’re looking for a part time, home-office based business how about launching your own local free newspaper?
It could be easier than you think!
You see, the Internet is giving national newspapers a run for their money, but it’s absolutely hopeless for local news. (Go onto the Internet and you won’t find any of the down-my-street type of news, gossip and other goings-on that most people love reading about.) So a free, local neighbourhood newspaper could be a very good and lucrative gap in the market to fill.
Here are a few pointers to get you started:
* First, pick your circulation area. Neighbourhood newspapers are best when they have a very small, very local circulation area. That means they can offer specific local news and information that people really value. Don’t try to cover an entire town or city. Choose a circulation area with a couple of thousand potential readers maximum.
* Produce it yourself, in-house. To keep costs low. It doesn’t need to be anything fancy. (So forget about doing a colour supplement before you start!) Most PC’s have inbuilt newsletter design software which will do the job. Print it off on your own printer to start, or use a local copy shop.
* Scout out some local news to give your neighbourhood newspaper a must-read feel. The more gossip the better. This way your readers will feel they’re missing out if they don’t read it. Here’s a good idea: Ask local clubs, societies, schools, churches, parish councils, businesses and so on to send you their news. This way you get interesting content for free!
* Deliver your neighbourhood newspaper yourself. It’s only likely to take a couple of hours for each edition and will cost virtually nothing apart from some shoe leather. You could also ask some local shops to stock your newspaper for you. A handy way of increasing your circulation for nothing.
* Find local businesses who want to advertise in your neighbourhood newspaper. Businesses like corner shops, convenience stores, takeaways, builders and plumbers, home improvement firms, hair salons, butchers and bakers, pubs and restaurants, florists, dry cleaners, taxi firms and the like.
You see, this is another advantage local papers have. Local businesses don’t want to spend £thousands advertising to people on the other side of town who’ll never be their customers. They need to make their advertising more cost effective and focus on people living in their immediate local area.
* Advertising revenue is the lifeblood of neighbourhood newspapers like this because you give them away free. Of course, with anything so local what you can charge, and what you can earn, is going to have its limitations. Don’t be under any illusion it’s going to turn you into Rupert Murdoch.
* Unlike national newspapers neighbourhood newspapers don’t usually appear daily or even weekly. Monthly is about right. If it goes well the best way to expand, rather than publishing more often, would be to roll it out and publish neighbourhood newspapers in other areas, not just where you live. You could keep on expanding it almost indefinitely.
Now let’s look at some figures. Say you charge each advertiser £50 for a quarter page ad. (You can also do smaller and larger ads. if you want to.) That’s good value for local businesses wanting to put their sales message directly in front of local people. It shouldn’t be too difficult to get anything between 10 and 20 advertisers to advertise in your neighbourhood newspaper. That would be anything between £500 and £1,000 revenue from each edition. You’d only have to pay for printing and office overheads out of that, so your profit margin would be pretty large.
And one more thing about local newspaper publishing – it’s a regular business. You could be pulling in the same revenue each and every month!
Hi, I appreciate this blueprint was written in Jan 2013, but I feel there is not enough info to make it a full business blue print. It comes across as merely a suggested enterprise to get involved with. Now with that in mind, and after reading Nicks Wealth DNA, it appeals to me and has got me thinking big-time!!! so thank you. However, whilst I have a back-ground in law and post-grad degree in research and methodology, I enjoy writing and am inspired with Nick Laight’s publishing business.
In view of the above I would be grateful for more detailed information relating to the following:
Where is the best place to go and get the newspaper/ magazine printed and published? what are the typical charges?
Is the £50 per quarter recommended charge for advertising the monthly going rate?
What licences are required?
Is it preferable to set up a limited company?
Are there avenues for funding such as peer to peer etc?
I would like to make more than £1000 per month, is this achievable and how would I go about it?
Plus many more questions……………………
I would be grateful for your prompt reply, preferably from Nick as he is the inspiration behind what I wish to achieve?
Regards
Michael Dennett
Hi Michael
Thanks for your comments and what perfect timing – we are currently working on an extended blueprint on various local publishing opportunities and that will be available in the 2nd week of August. I will make sure that we cover as many of the points you have raised. Of course if you have any further questions that come out of that blueprint, just let me know….
Hi Nick. thanks very much for your reply and I very much look forward to receiving the blue prints re publishing opportunities. I just wanted to convey that the opportunity sounds very appealing to me and whilst following your progress over the years I am very interested in publishing. After having read the wealth DNA report I have identified my flaws and need to focus on one thing. You see, because I am always seeking to learn more and absorb more information, I am prone to distraction and veering off down another path!!! I realise my strengths are in writing and research (and albeit curiosity), they appear to me to be more akin to publishing than law. I have what I believe to be a unique concept in relation to publishing a monthly magazine or newspaper (with a supplement) that will appeal to everyone because it is something people enjoy through and through. Whilst starting it local, I am looking at the big picture with view to licencing out the same across the UK or indeed further. By the way my specialism in law is Intellectual Property. As mentioned I am inspired by your achievements and would welcome any advance support that may be available.
Many Regards
Michael Dennett