You want to know how to start a comic book business because you have seen the potential in it.
Cartoons and comics have become the trend, and it is not just for children this time.
This increase in the customer base has exponentially increased the profit margin.
This has made the comic book business even more enticing than it used to be.
However, we understand starting a comic book business is not going to be easy, especially as a beginner.
Hence, we’ve broken down the process of starting a comic book business into eight simple steps.
However, first, we’ll consider the advantages and disadvantages of this business so you can fully understand what you’re signing up for before we go deeper into this business.
So let’s dive right into it.
How to Start a Comic Book Business – Advantages
Every business has its perks and downsides, including this business.
For a comic book business, the advantages would include the following;
- There is high customer retention as far as the stories and comics you give are good.
- The most amazing thing is the fact that you can do the work from anywhere.
- You can set your own prices, allowing for a high-income potential.
- The business has different sectors, so you can choose which is best for you.
- It has a simple business model hence making it easy to run.
How to Start a Comic Book Business – Disadvantages
The disadvantages of a comic book business would include the following;
- The number of skills required to do this on your own.
- Although the market is not saturated, you will mostly compete with established names in the comic space.
- The possibility of your potential customers outgrowing comics hence reducing their value to your business.
The Industry – How to Start a Comic Book Business
Generally speaking, a comic book store is a place where comic book enthusiasts go to find these items.
It is not just comic books that are displayed in a comic book store but anything from graphic novels to collectables.
It may seem like this is a dying business as there are fewer comic book stores in the United States than before.
However, it is still worth noting that when you know what you are doing, you would gain more.
When you look at the comic book business, running a comic store is just one of the many aspects.
There are so many ways to go about this business.
All you need is to find your best fit and get creative with it.
How to start a Comic Book Business – 8 Basic Steps
Our ultimate goal at the end of the day is to ensure you have all you need to start your comic book business.
That being said, we must first reiterate that it takes a lot of work to get the business up and running.
Some of the steps you will need to take will include the following;
1. Background Research on the Business/Industry
The first part of the whole process when it comes to knowing how to start a comic book business is research.
You are researching mainly two things – current industry trends and how they relate to your environment.
The goal of this exercise is usually for you to find the best entry point for the market.
You also want to find out the population of people that are into reading comic books.
Once you understand the volume of the primary target audience, you can move forward.
Next, you should do some research on how your target market currently gets their comics.
There are so many advantages of this – one is you will be able to create a better experience.
For example, if they usually go far to get it – you can create a physical store closer to them.
Once you are done with your environment, you can switch towards the industry and its trends.
It is important to understand what works even before you start the business.
You can buy comics from other makers and sell them, you can make yours, or you can do both.
The idea is to look at all the available options and find the one that suits you best.
As long as you are looking for success in this industry, proper research needs to be included in the planning.
2. Decide on a Business Model
Your next step would be to choose a business model.
The right business model comes after you have selected the niche that works best for you.
It is important to get it all right since you are looking at running a successful business.
For your business model, you may decide to opt for a physical comic book store.
Likewise, setting up an online store opens you up to a wide range of opportunities.
Furthermore, you can buy the comics from others, make yours or do both.
Also, you should decide what things you can add to the business or if you want just comics.
There are so many variations to this business, and whatever approach you decide to use is totally based on your preferences.
The business structure is another thing you should be looking at when you get to this stage.
Understanding all the available structures is the first step here.
Then, you decide which works.
There are so many options, but regardless of your choice, we suggest you build an LLC (limited liability company).
This is because of the advantages you stand to gain when you go for that option.
For example, your personal assets are protected if your business ever gets sued in court.
3. Properly Document Things
The process of starting a comic book business is incomplete without talking about documentation.
It is just so important to document anything and everything when you are looking at a successful business.
Everything is worth writing down, whether or not it is something that makes sense or you will need.
These documents have so many important functions during the start and after the business has launched.
The document can also act as your guide as you move through the different processes of starting a business.
There are so many documents that are needed in the early stages of your business.
One of the most important is the business plan.
This document captures your business journey from start to finish.
You can develop a business plan yourself or hire an expert.
4. Learn and Get Certifications/Licenses
One of the disadvantages of the comic book business comes with making them, which is that many don’t use this business model.
So, if you decide to make your comic books, you need to have writing and design skills.
Therefore, you should get these skills if you don’t have them already.
There are many online courses that can help you achieve this, and the good thing is some of them are free.
In addition to getting the required skills, you should also get the required licenses to help you operate your business smoothly.
5. Brand Your Business to Stand Out
Branding is an essential part of every business.
This is why a conversation about how to start a comic book business is incomplete without it.
Contrary to popular belief – branding is not just finding a name for the business, although it is important.
It encompasses several other things.
You may want to handle this yourself or bring in a branding expert if you have the financial resources for it.
It’s all up to you.
Overall, a business branding would usually include the following;
- Business name
- Brand colours
- Packaging, etc.
6. Do all the Necessary Registrations
Registration is equally very important, especially when you are just starting.
This process could be as simple as registering the business with the local and federal authorities.
It’s important to note that his process varies from state to state – so be sure to consider your state’s rules when you register.
You may also want to register a bank account.
This is important to keep business funds separate from your personal funds.
Tax registration is one of the most important on the list, and it takes a while, so start early to register.
You would first need an employer identification number or EIN.
Getting this number has been made a lot easier now since all you have to do is fill out some forms on the IRS website.
This number is what would enable you to register and pay your taxes which is important to businesses in America.
7. Implement all From the Planning Stage
We have been planning and strategizing – now it is time to implement everything.
The focus here will be on bringing a lot of the things we did in the planning stage to reality.
Our best bet here is that you start from the financial plans you had during the planning stage.
If you are funding the business, move the money from your personal to the business account.
This is important as it will help you track and manage cash flow in your business.
The next thing would be to set up your location (online or offline) and get ready to start attending to customers.
8. Market Your Business
Our last step when you are looking at how to start a comic book business is marketing which is the biggest.
At this point, we have done everything there is to do, and starting is the only thing that is left.
Marketing is basically the process of showing what you have to your target audience and giving them a reason to buy.
It remains one of the most challenging yet exciting stages of the whole process.
There are a lot of ways to approach marketing, and there is no wrong or right approach because marketing requires a lot of testing.
For your marketing strategy, you could explore offline and online options.
Online and offline marketing has their advantages and disadvantages, but combing them is where gold is.
Being involved in your community is one way to explore offline marketing.
Also, there is the most generic form of offline marketing, which is in having a launch for the business.
Social media has been a revolution for marketing and remains one of the most effective forms of doing it.
With an increase in customers, you will need to be more active in strategizing on how to connect with them.
The idea is to get them to see themselves as part of the business so they can be converted into brand ambassadors.
Conclusion for How to Start a Comic Book Business
Now you know the steps you need to take to start your own comic book business.
We encourage you to implement these steps and put in the effort required to grow your business continually.
Cheers to achieving your entrepreneurial dreams.