publishing my own sci-fi magazine

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Posted on lit, but would like Biz's opinion as well, I've made a few bucks selling stories online but I want to really want to start my own publishing business. would love any tips biz could possibly give me.

I'm taking my short stories, as well as some of my friends stories, and I want to start publishing a literary magazine, just 3-4 stories a month, 5-10k words a piece, a mix of sci-fi, horror, comedy, and fantasy

mostly stand alone tales, but I have a few serial ideas for characters that I can put through different adventures

I also plan to start buying stories from other writers online if I can get this to develop

I want to recreate the sci-fi pulp magazines of the 50's and 60's

Is this a good idea? I'll mostly be doing it for fun i'll make a website and put some stories up for free, but then charge 2.99 to 4.99 for the monthly magazine.

I've tried writing novels but I just can't get the word count high enough to shop them around so I think short stories would be a much better creative outlet for me.

I already have about a dozen ideas on the drawing board and I can crank out a raw 5k word story in one day no problem.

What do you guys think? Good idea? can this go somewhere? Any tips?

So far working title for the magazine is "Farseek" but that was just the first idea that popped into my head.