I don't know how I missed this topic.
The advice offered by ssaab88 is great! I've been accomplishing this myself since the first of March. I've been able to put this together in about a month and I had no experience in print publishing. Fortunately, my best friend publishes the local yellow pages and has been instrumental in educating me on the finer points of print media.
I have blogged this in (to much) detail on my small business blog. http://www.soky.biz/2007/04/dave-20-part-3.asp
Everything from colors, DPI, computers and software has been a challenge but hard work and persistence is the key... as usual.
I have found that if the idea is popular to the readers, it will be popular to potential advertisers. I've been able to sign enough advertisers to pay for the printing costs and am now working to build the client base to provide income as well a budget to hire some help. With nothing but an idea, a prototype and a willingness to knock on doors I've been able to make a go of it.
The first issue comes out in June (a month earlier than I thought) thanks to the help of my friends and family. Hard work has been the key!
Willingness to seek advise and then accept it has also been helpful. Many things have changed from the original concept, but I think it is much better than I could have dreamed as a result.
I'm having fun with mine... good luck with yours!!!