If you have an interest in writing or reading, starting your own feature agency business is a good option. To start a feature news agency one needs just a computer and a telephone connection. Internet connection, fax machine, and a good library will add good backup for your business. Also, you will have to subscribe to some good magazines and newspapers regularly.
Almost all newspapers and magazines require articles to fill up their pages. A feature agency is an evergreen business. Current and specific information and features on a special subject are always in demand.
As a News Agency, you can offer a daily fare of news and features and importantly columns by top experts on various topics on politics, business, economics, etc. It also reports major developments in the country and its various states as well as international relations.
Here are the 5 steps to starting a profitable news agency business:
Feature News Agency Business Plan Guide for Beginners
1. Select Your Niche
The first decision to make before launching your news agency is to select the type of news you are going to provide. Do market research and talk to relevant people in the industry and choose.
There are many types of news agencies that work. It can be transnational, regional, or national. Select the one based on your financial resources and network of reporters.
2. Create a Feature News Agency Business Plan
Write a business plan for your news agency. It will work as a roadmap for future plans of action. Additionally, this plan document is the single most important document for pitching funds from investors.
Some of the basic issues that must be addressed in your feature news agency business plan are as follows:
- Initial and recurring costs
- Target customers
- Hiring plan
- Marketing Plan
3. Make News Agency Business Legally Complaint
Check with local competent authorities and know what kind of licenses and permits are required to run a feature news agency. Furthermore, register your business under a suitable company structure.
4. Learn How to Make Money from News Agency Business
Most feature agencies buy articles, stories, and features from various writers on a contract basis. They sell those articles to the newspapers and magazines and then pay the writer, saving their part.
Normally, the feature agencies pay a part of the fees to their authors and earn a good profit.
To establish a good feature agency you will have to network hard in the beginning to develop a good rapport with the editors of the magazines and newspapers.
Most of the magazine houses prefer to have features or articles on computer floppy as that way they need not get it composed and quickly utilize them.
5. Go Online
It is a must to have an online presence for a news agency. Create a website and mention the services that you are going to provide. Keep posting recent articles so that more and more customers come to know about your credentials.
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