I've been working on the last few raffle projects for the luncheon I'm planning this weekend and finished up a few magnetic boards last night.
All you need is a frame, sheet metal, fabric (optional), glue, and magnets!
I traced an outline on the sheet metal and used tin snips to (carefully!) cut it out.
I covered the first board in fabric by cutting a piece to size and adhering it to the sheet metal with my tape gun. I put a few strips on the front and also taped the fabric securely to the back.
Then all you have to do is secure it in the frame and add a few magnets! The sheet metal is naturally magnetic, but you may need some extra strong magnets to make sure it holds through the fabric.
I also like the industrial look of the sheet metal so I left the second one uncovered, but you could easily stencil on lettering to personalize it!