Unless you’re Stephen King or one of the other best-selling authors, you’re not going to make the same income by being traditionally published as you would if you self publish.
Don’t believe, let’s do the math.
Author A is a mid-list Author with XYZ Publishing House (names have been changed to protect the guilty).
Author B on the other hand, wants to control her writing career and not be dictated to as to what she should write. She wants to self publish all her ebooks on her own site and in Amazon’s Kindle bookstore.
Now for the math – print publish versus self publish:
XYX publishes Author A’s book and prints 25,000 copies (their normal run for her genre). The paperback book sells for $6.95.
For this scenario, Author A will get 7% of the gross. So 25,000 X 6.95 = $173,750 X .07 = $12,162.50. The book was not reprinted as more than 2,000 books were sent back to the publisher so the royalty Author A actually received was reduced by $973.
Now Author B decides to self publish her book on the Kindle so there is no print run. But she does sell the same number of books as Author A in the first year because her ebook is being sold world wide.
Because Amazon pays a royalty of 70% for buyers in the United States, England and Germany and other Countries 35% royalty, Author B’s royalty will be measured at an average of 52.5% royalty. To be even more fair, Author B sells her ebook for $4.95 on Amazon. So 25,000 X 4.95 = $123,750 X .525 = $64,968.75.
Even if Author B did not sell as many books as Author A, her chances for making more money is better. But, money isn’t the only difference between the two authors.
Author A is locked into a contract and since her publishing company won’t reprint, the only money she’ll receive is 7% to 15% of the 70% her publishing company makes selling her book as an ebook on Amazon.
Which means Author A is dead in the water. She’s locked into a contract and it will be years before she can get her book back to self publish.
While Author B will be selling her ebooks year after year. Even babies being born today will end up paying for and enjoying her books because of her decision to self publish.
And just think, we haven’t even added in the money Author B makes selling her ebooks from her own site.
So tell me again, why are you waiting to self publish your books?
In one or two years, it’s entirely possible, your name could be right up there with Stephen King if you self publish but, you won’t have the added baggage of a contract holding you back.
P.S. So if you’re tired of waiting to be discovered, make the decision to self publish and then use my Kindle eBook Course to get your book on Amazon.