How do i start an advertising agency and how can i make it profitable?
Answer:
I think you should work for an advertising agency for at least a year, make connections and see how the business works. If you start from scratch with no clue and are asking people on here (many of us are not experts), then if you start right away I think you will fail. Good luck, though.
ever heard of score card adds? Play golf much? I know a guy who makes some bad * score cards then goes and sells adds for it (restraunts, small business, etc) then GIVES the card to clubhouses for their members to use for free, he makes $$$ off the adds! what a great idea, you have to be able to talk!
Get a clear position for your agency i.e. what will it offer that other agencies already do not. will you speacialise in the youth market, ethnic market (again narrow down to which one), use viral marketing etc. Till you figure this out, DO NOT waste your time investing any time or money. It's already a very competitive business.
Good luck!
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The best routes to take are to research the process of starting a business as well as the industry you're interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
* The Advertising Agency Business: The Complete Manual for Management & Operation by Eugene J. Hameroff
* The Advertising Business: Operations, Creativity, Media Planning, Integrated Communications by John Philip Jones
* How to Start and Run Your Own Advertising Agency by Allan Krieff
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
100% agree with the idea that you should go work for one for a few years to learn what they are about. Most of the smaller agencies are populated by people who used to work for larger agencies so they know their way around how the agency is set up, how to work with clients, how to work with the media, etc.
If you're only 22, there's no rush anyway. You might find you'll do just fine in a large agency where you can find the right part of the company that can pay you well without having to deal with the downsides of owning your own agency (so many fail).
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