Okay, so I had this great idea about starting a fiction magazine featuring up-and-coming mystery writers. The rag would be a quarterly and include four or more short works in a specific sub-genre. I would throw in a non-fiction article (hey, I have to write something!) plus a few odds and ends to create more value for the reader. Once ready, this magazine would be offered as both a print-on-demand item and as an .epub suitable for your Kindles, iPads, etc. Using both formats would satisfy those who want to hold paper in their hands as well as those who love the technological aspect of information delivery. Not going to argue that one, talk amongst yourselves…
I have done some groundwork: set up the template, set up a website (currently under construction) and have written the introductory article and some of the obligatory stuff. I am rereading Edgar A. Poe, since the first non-fiction article will be an interview with a Poe scholar. Anyone know a friendly Poe scholar? Maybe just an English professor? How about that Cliff guy – you know, the one who wrote all those Notes?
As for the fiction pieces, I am sure I will have plenty to choose from once I put the word out regarding submissions. I plan on compensating authors, since writers are no different from musicians and as a working musician from 1982 – 2007, I never liked offering my talents for free. The money won’t be much, since at the start it will come out of my pocket, but it’s the policy that counts. I want to promote good writing and good writers and this is just the right thing to do.
But (and there always seems to be a “but”) I have become entangled in the business end of this venture. Setting up the LLC ($100) followed by the Trademark registration ($275) followed by the local business license ($30) followed by the visit to the accountant ($$$) and the list could go on and on.
So I wonder, remembering Akim’s razor, which states that the simplest solution is often the best solution, if many self-published authors jump through all of these hoops or do they just send in a file to Amazon and wait for the check? Tax-wise, it’s all income albeit perhaps subject to self-employment taxes.
Anyone had experience with the business side of self-publishing? Suggestions?
Once I have the ducks in a row, I will let everyone know. I think that this could be fun once I get the work-part done!