Design a cover. The cover of your magazine should give readers a tantalizing taste of everything that's inside, without giving away too much. Here are some ways to accomplish that:
Make sure your magazine's title is prominent. Though many magazines will change the color of their title from issue to issue, the font is almost always the same. Settle on one that's easy to read, recognizable, and has an aesthetic that matches your content.
Most magazines put this at the top of the cover, in order to make the brand prominent. For some interesting examples of how you can play with the interplay between the title and what's on your cover, look up cover images for Harper's Bazaar.
Decide what's going to be on the cover for this issue. Fashion magazines often use cover models, while gossip magazines use paparazzi or staged photos, and news magazines might use portraits. Whatever image you use, it should look compelling and be connected to your magazine's main story.
Write blurbs (optional). Some magazines will only write a blurb or a title for the main story (such as TIME or Newsweek), while others will tease several stories on the cover (such as Cosmopolitan or People.) If you choose the second option, try to make sure your cover doesn't start to look cluttered.