After speaking with the owner of a restaurant (Mama's Kitchen) down in the Sunrise area in Broward, I was left feeling a little bit reflective. It became clear that it is time to take the CBD to the next level. By this I mean expanding to other areas outside of South Florida, improve on the product and increase production and distribution so that the magazine becomes a viable alternative for advertising dollars and subscription. Of course the issue is finding a way to fund the growth. It is difficult to secure advertising commitments because the magazine is very young. So the plan is to stick around long enough, build contacts that can be tapped into at a later date. But in the here and now some progress must take place even if only marginally.
So after the above mentioned discussion I remembered another conversation I had with a former journalist who is trying to revamp another magazine. That gentleman offered a proposal: His magazine which will be about 5 times the size of mine, will focus on community and religious issues. He proposes that my magazine would be incorporated into his. I would be responsible for submitting the articles and other content and the design and layout would be completed by his team. I would have to secure my own sales. And of course we would have to work out some fee for the "rent" of space in the larger magazine.
There are pros and cons to this. Notably, it would give me more reach and a wide distribution and lower production cost per issue while simultaneously I would be putting the identity of the CBD at risk. I could lose autonomy over the CBD. Admittedly, I have to weigh both sides and this is what business is all out. Making tough choices. I am not leaning toward this option however, because as one person pointed out: that arrangement could be tantamount to selling out.
Friday, June 08, 2007
Selling out or viable alternative?
Posted by Mushtaq at 10:07 PM
Labels: business decisions, expansion, magazine growth
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1 comment:
I would not want to give up ownership. It's a real ticklish thing one you will have to think through some more
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