LO2: Budget

Here you will factor in all  costs involved in production of your magazine. This won't include equipment but you will include (amongst other things):

Properties & Location rental

Travel and Crew costs

Printing and Distribution costs

Costs for:

• Rental of a photographic studio (1 Day)

£25 per 2 hours. 1 day = £100

• Hiring models (1 Day)

Day rates ranging from £150–£1,000

• Printing 100 copies, A4, 120gsm (grams per metre squared), 40 page, stapled, colour - Magazine (inc.VAT)

£89.05

16-17-year-olds will get £5.28. This will come into effect on April 1, 2023

Staffing Cost

Editor (Me) -  £31.30 for copyediting or £36 for line-editing in 2022 = £33.65 ph

Writer - most writers' salaries range between £14.12 and £29.08 per hour = £21.64ph

Photographer - £14.10 per hour 

Designer - £26.50 per hour

Some magazines can take as long as six months

1,044 working hours in six months. 

33.65 x 1,044 = 35,130.6

                               +

21.64 x 1,044 = 22,592.16

                               +

14.10 x 1,044=  14,762.16

                               +

26.50 x 1,044 = 27,666

Staff Cost for Six Months of Work = £100,150.92

Work out the staffing cost for the production of one issue of your magazine.