Have you ever noticed the sheer number of fantasy series there are? Series are not uncommon in all genres of literature, but for some reason fantasy seems to lend itself to being massive. Sword of Truth, Lord of the Rings, and on and on and on.
Even when you see a stand alone book, odds are there is a another one in the works. I know many fantasy writers, and when they start thinking about story lines, they think in three book installments. I guess fantasy is a little different because most of the time they are thinking up an entire universe with new rules and creatures, but I'm here to tell aspiring writers that your stories don't have to be epic.
Epic story lines are daunting, especially for a new writer. Why would you want to run before you can crawl. Start out small, writing some short fantasy stories. Putting together a well written 5,000-10,000 fantasy story is more important than a hastily put together 50,000 word book. Short stories help to improve your craft and give you a feel for the genre.
If you are worried about fitting in a whole world in 5,000 words, then make it simple. Fantasy doesn't have to mean a completely different world with complex rules. Why not set it in Earth with a small group of fantasy beings hidden from the normal world. The important aspect to remember is the story is the important part. When you try and draw something out to hit a certain word limit, the story suffers.
