CUSTOM PUBLICATION FOR CANADIAN INSTITUTE OF FOOD SCIENCE AND TECHNOLOGY BY FUSION PUBLISHING INC.
Overview The Canadian Institute of Food Science and Technology is seeking recommendations and costing to launch a magazine to serve as a communication tool between its members. Ideally the publication over time will become self-funding through the sale of display advertising and employment opportunity postings. Fusion Publishing Inc has a broad experience in publishing both hard copy and digital magazines. The company currently publishes three in-house titles: Good Life Connoisseur Report on Mining Good Life Living Green Plus the company undertakes numerous custom publishing projects on behalf of clients seeking effective communication tools in a variety of applications. As a result Fusion is able to bring a host of proven resources to any publishing project.
Discussion The development of an advertising revenue stream for a new publication takes time and investment. Considering the niche this new publication will serve is readily defined the list of potential advertisers is likely easily determined. However, how many will participate is unknown until the publication is actually brought to market. Presumably a conservative approach would be appropriate. Meaning when budgeting the Institute should expect to cover 100% of the initial costs. With the hope of over time developing a selfsustaining advertising revenue stream as a result of the success of the publication in providing returns in the form of results for the advertising investment. This success will only come if the publication meets the needs of its potential readership. Editorial direction and quality of presentation will be the primary criteria in that success. Fusion as an award winning publisher can provide the quality presentation but the editorial focus will no doubt have to be provided by the Institute.
Structure To be successful a clear line of authority and responsibility would need to be established from the onset. The simplest approach would be to have the Institute name an editor-in-chief who would in turn provide Fusion will editorial direction and have final sign-off authority on each issue prior to publication. Fusion would have the responsibility to provide all the resources required to successfully produce the publication. This would include: writing, editing, proofing, design, graphics, photo sourcing, printing, distribution, advertising sales and revenue administration. To encourage Fusion to maximize revenues when the publication has reached profitability that profit would be shared equally between the Institute and Fusion.
Costing Estimates The least costly publication would be a digital magazine e-mailed to the Instituteâ€™s members.
The publication would arrive in an e-mail to the memberâ€™s in-box with the cover of the magazine imbedded in the body of the e-mail. The recipient would simply click on the cover and the pages would turn just like a hard copy. A breakdown of the estimated costs for a 20 page publication would be as follows: Writing, editing, proofing 500 words per page @ $1.20 per word - $12,000 Layout and design, photo sourcing @ $110 per page - $2,200 E-mail distribution and list maintenance 2000 members @ $100 cpm - $200 Coding provided to include the digital magazine on the web site at no cost. Total estimated cost for a 20 page distributed digital magazine $14,400 To produce and mail a hard copy edition the additional estimated costs would be as follows: Printing/binding 20 page, full colour publication on 70 LB gloss stock $3,000 Labelling and mailing @ $1.20 for 2000 copies $2,400 Total additional costs $ 5,400 for a combined total of $19,800.
Advertising Sales Fusion is in the enviable position of being able to offer the services of Shirley McClune to head up the advertising sales effort on behalf of the publication. Ms McClune was the Founder/President of KLASACT Communications Ltd original publisher of Food Safety magazine. Her previous extensive experience within the industry would no doubt greatly increase the potential for publishing a self-sustaining publication. Fusion would charge 40% of net advertising revenue to cover sales commissions, billing and collection. The advertising rate would be established at the CPM norm within the industry.
Suggestion We understand the Institute is also intending to redesign its web site. Presuming Fusion is chosen as the custom publisher we would suggest continuity of look between the publication and the web site. Fusion has the resources to update the web site as well. We appreciate the opportunity to enter into discussions with the Institute. Should there be any questions about the presentation please do not hesitate to contact: Terry Tremaine Group Publisher 604-925-0313 ext 1002 email@example.com
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Fusion Publishing Inc - Custom Publishing 1 888 925-0313 www.fusionpublishinginc.com