since i hope to make a profit off of this magazine and pay my featured artists a percent for their contradicted work i set up a businesses bank account with Natwest so that any payments to that would be completely seperate to my personal accounts, this would help alot when paying artists.
my team and i plan to set up stalls at uni campuses selling copies at £5 which will pay into my account, and then at the end of each month i will pay royalties out to my artists, per sale percent is still to be decided but if 500(£5 as pennies) is divided by 23(no of artist) it works out to be about 20p per physical copy, to this i also hope to sell digital copies to reach a further audience as a slightly lower price off set by printing costs. i’ll sell these copies from my etsy store so the money will go directly into my business account. my aim is to be completely transparent about the processes with my artists as i dont want to be caught on the bad side of my friends, since this project aims to strengthen the bonds in the course not rip them apart.
Alex's Photos & Thoughts 