How To Start A Press Release Distribution Business

How To Start A Press Release Distribution Business - Background Info:

If you have talent with words, the informative writing style of press releases may be for you. Press release distribution services can be started and run with minimal start-up cost. This business is especially good for people who like to network.

You'll be spending a lot of time with a computer, so you'll need to have a good one. A laptop is ideal, allowing you to escape the home office and take advantage of being a freelancer.

You could spend a lot of money purchasing the latest office software offerings from the big corporations. Or, you can use free-ware that has all the functionality and more for nothing. It depends on how comfortable you feel with our grammar and ability to self-edit.

A press release distribution service prides itself on creating compelling copy that catches the eye of the larger media. This often take the form of introducing new products and keeping the media informed of business news.

The format for a press release is strictly defined, and you must follow it. The most important information is given first. You're assuming that an editor is looking over the title and first description line for a moment before "disappearing" into yesterday's news and something to be archived online.

To really be effective, you should have a good feel for what it means to read a ton of press releases. Subscribe to an RSS feed of releases with your broadband connected computer to get a feel for what works. As you gain experience, you'll be able to advertise how effective your ads are.

How To Start A Press Release Distribution Business - Tasks And Skills Needed:

Business Specific Tasks:

If you are planning to do all the business tasks or hiring or subcontracting tasks, here's a list of tasks that need to be attended to when it comes to the business side of running a press release distribution business:

Bookkeeping

Filing

Typing

Scheduling

General Office

Reception

Customer service

Industry Specific Tasks:

Same as above if you plan to do everything yourself or get help, here are some of the tasks necessary to operate a press release distribution business:

Send news releases to; media outlets, reporters, journalist, editors, online news outlets and trade groups. Personally review each and every release and match it to a tailored audience to have optimal impact.

Send media releases directly to the people that can have an enormous impact, the reporters, journalists, editors, etc.

Identify categories based on reading clients' news releases and by any special instructions they may have.

How To Start A Press Release Distribution Business - Approximate Daily Hours Needed:

General Hours of Operation: - When your business is open - In general, a press release distribution service is open 24/7 with submissions available through a website.

Hours Needed to Prepare - Before Opening and After Hours Activities - Manage correspondence by phone and email, website upkeep, schedule meetings with clients, work on submissions (releases), distribute releases according to different time zones.

Number of Employees Needed To Run A Press Release Distribution Business:

Minimum Number of Employees -During the Start Up Phase: You can start this business yourself on a full-time basis.

Number of Employees - Once Your Business is Up and Running Successfully:

Website maintenance

Record/Bookkeeping

General office

Customer Service

Journalists/writers

Research

PR specialist

Skill Requirements for This Business:

Journalistic writing background

Trend analysis

News tracking for top stories; what people are talking about

How to write to keep the readers' attention

Licenses:

You will need to have a standard or LLC business license, tax i. d. and any pertinent permits to operate from your home.

Approximate Minimum Start up Cost:

Bare essential: - The average startup cost is zero to $1,000. You'll need little more than a PayPal account to offer your services on a free classified ad site. Start slowly and see how much you want to work on press release distribution per day.

Minimal exposure - There is always plenty of marketing to be done when you're first starting out. You'll need to build up a library of good samples for your prospective clients. Thankfully, you can do almost all of your marketing online.

You can do a great deal of your marketing with local clients when writing press releases. A press release distribution business relies upon meeting people in business who can use your services. For this reason, being personable is very important. Don't be shy when handing out business cards.

Necessary Equipment to Run this Business:

Necessary Start-Up Equipment & Supplies:

Computer

Printer

Cell phone

Website

Fax

Skype (internet phone)

Supplementary Equipment: - Equipment or helpful products that you can acquire to once your business is off and running:

News wire service

Dictation/transcription equipment (dictaphone)

Monthly Expenses To Consider:

Wages
Phone/cell phone
Internet access
Permits
Advertising/Marketing
Electricity

Special Requirements and Considerations For This Business:

Find out all you can about the trends in the industry. Know your competition, in particular, their strengths and weaknesses. This will help you identify your competitive advantage. In other words, this will help you figure out what you can give your customers that they're not getting from the other businesses. And keep from emulating the competition's strategy. Instead, make the most of your own advantage points.
You'll certainly need to create enough examples of your work to get prospective clients who are willing to pay market rates for press release distribution work. If starting out slow, you may need to charge budget prices while you practice your "chops."
Make sure your press release distribution service has a targeted portfolio. It should include press releases that are aimed at the target audiences you want to work for.
If you want to focus on new products and the entertainment industry, include those at the beginning of your samples. But, you can also give examples of non-profit and business press releases, too. Make sure it's a well-rounded document that describes you.

Pros And Cons of Opening A Press Release Distribution Business:

The Pros of Running a Press Release Distribution Business:

It's an exciting field

Excellent outlet for creative and professional writers

Can be easily expanded or part of article and other business writing services

Is not impacted by the economy

Good writing for businesses is in high demand

Work hours are fairly flexible

The Cons of Running a Press Release Distribution Business:

Competitive against free, online press release services

Finding good writers/journalists can be difficult

Type of Customers You Need to Attract:

To target real professionals who need work done, you may need to sign up with a cooperative website. Here, you pay dues in order to bid on jobs through the site that the company maintains.

You'll also need to spend about twice as much time that you write on the marketing of your business to make more than a random side-income. Make a portfolio and begin seeking out clients in the many different types of press release that you'd like to represent.

Press Release Distribution Business Statistics:

Revenue:

You should check the competition in the areas you wish to do business in to see what the going rate is. See what sort of prices are offered for different types of press release distribution work. This can be done with worldwide competition online. There may be more money to be had by dealing with real, live people in your local market.

As a general rule of thumb:

Local/regional releases: $89 per release

Worldwide: $269 per release

Press Release Distribution Business Resources:

newspapers

Industry-Specific Websites:

Writing Press Releases

PRLog

E-Releases

PRNewsWire

24/7 Press Release

Cayman

I-NewsWire

Courses:

Free Press Release

BusinessWire

How to Write a Press Release

Equipment and Supplies:

Press Dr.

MarketWire

Forums:

How to Write and Format a Press Release for E-mail Distribution

Franchises:

EmailWire

Associations:

Editorial Freelancers Association

Books:

Press Release Writing

Amazon Listigs

Software:

Duct Tape Marketing

SummitSoft

MediaMagnet

Leigh Burke's

Other:

Find Freelance Press Release Writers

PRWeb

Press Release Writing Pricing

Getting Press

Businesses To Related to a Press Release Distribution Business:

Advertising/promotion
Public relations
Article and professional writing
Journalism
Human resources
Business services/specialty