How to Start a Publishing Company – Part 1
Perhaps you have tried your hand at writing and get frustrated trying to get your work published. One way out of this conundrum is to start your own publishing company and publish your work along with any other manuscripts that get sent to you. It is fairly easy to go ahead and self-publish your own work but forming independent publishing company take a little more work. In this blog we look at the ways to do this and dispense some handy tips to help you along the way.
Three Main Reasons for Starting a Publishing Company
Firstly as an independent publisher you are allowed to register as an ISBN publishing house. With this accreditation to your books, it looks far more professional than just your name as the publisher. It gives the impression of a large professional company, even though you may be operating out of your own front room.
The second reason to start a separate publishing company is that it will help you keep your finances apart. Your book publishing activities will be completely apart from your personal finances. There can be many tax advantages of doing this. Another big advantage of forming a limited company is that your personal assets are not liable should there be any legal disputes.
The third and final reason from starting your own publishing business you can publish other authors. You company will be listed as the publisher and your name will become better known in literary circles, obviously this depends if you select the right authors and manuscripts.
Make Your Decision
One of the first things to do when you are starting any new business is to make a decision to whole heartedly go into the industry that you have chosen. You have to make writing and publishing a proper business and not just a hobby. People who just dip their toes in the publishing industry are rarely successful.
Look at the Options
There are several different options to think about when it comes to forming a business; and depending on what country you live in, the options might differ slightly. But basically they are as follows: Sole ownership, a limited liabilities company such as LTD or LLC, and a corporation.
Take Professional Advice
If this is your first stab at starting your own company, then it is highly advisable you take professional advice right through the whole process. Accountants and lawyers will offer free consultations on first visits and this advice can point you toward the right path to follow.
Choose Your New Business Name
Choosing a name for your new publishing company is not as straightforward as it may seem. Firstly, if you already have a name, check that it has not already been taken, and a copyright had not been issued on it. If you have not chosen a name, then take your time, your new business name is highly important as it must represent your brand accurately.
Think of your target clients and pick something that would immediately conjure up an image of what your business is all about. Something vague or obscure could confuse people and not stay in the memory very long. In part two of this blog we look at more steps to starting your own publishing company.