If you search for what constitutes ‘good’ sales for a fiction book from an unknown/debut author, the figures are arbitrary. The consensus seems to be that for a small press (traditional publisher), anything from 1000 – 10,000 copies/year can be considered good sales, of which an author is likely to earn around 10%. For a self-published author, sales of 1,000 copies/year are considered ‘good,’ of which an author may earn around 35% – 70%. The average self-published book however, only sells around 250 copies in its lifetime. In other words, most self-published authors are unlikely to earn back their investment, let alone profit from it.
Few authors, particularly debut authors, are likely to make more than they spend in their endeavours to realise their writing aspirations. If you were to put forward a business plan that involved speculating far more than you’re ever likely to accumulate, any business advisor worth their salt would tell you to run a mile. And yet, call us crazy, but we persist! Because we love it, because it’s a dream, and because you never know…
Here’s a quick rundown of some of the true costs involved in becoming an author (with a focus on self-published authors).
PRE-PUBLISHING:
Manuscript assessment – After the self-editing and beta reader stages, authors are encouraged to submit their completed manuscript for assessment and/or editing prior to submitting their novel to agents, publishers or self-publishing. Some agents/publishers will even ask you to check the box at the point of submission to confirm you have done this, as it gives them greater confidence in your submission’s quality. While a manuscript assessment can be an invaluable form of feedback, unfortunately costs can be prohibitive, and very difficult to recoup.
Website – A must-have for all authors, usually requiring an annual fee for your domain name and web host.
ISBNs – Each format (e.g. print/e-book) or edition of your book needs its own ISBN. You can individually or bulk buy ISBNs, or you can distribute your book through companies such as Draft2Digital that give you their own.
Book cover – A great cover makes a great first impression and grabs a reader’s attention. This is an area worth spending money on. Costs vary hugely, but you can find reasonably priced and talented cover artists on sites like Upwork and Fiverr.
PUBLISHING:
Author Copies – A self-published author usually pays for copies of their own book, either to review the quality of the finished product or to gift and give away. The author purchase price tends to be at a discounted rate, however.
ARCs – Advanced Reader Copies can be sent to bloggers and reviewers as an incentive to read and review your work. Whether it’s a physical copy or an e-book, the author will bear this cost.
Book Tours – there are virtual book tour companies that can coordinate aspects of your marketing strategy including linking you in with reviewers who can review and post about your book, however packages can be costly, starting from just 1 day of coverage, and it’s often unclear to what extent this investment may pay off.
Reviews – There are many book bloggers offering free reviews, but just as many requesting payment either to review your work or to prioritise it on their reading list for a speedier service. There are also services offering to put your book into the hands of potential readers, for a fee, however with no guarantee it will actually be read or reviewed. Bearing in mind you can require upwards of 50 reviews for your book to gain online visibility, you could be looking at quite a cost.
Advertising and media – If you would like your book’s reach to expand beyond your friends and family, you generally need to pay for the privilege. And if you’re looking to make something more specialised like a book trailer and you’re not all that technical – you’ll probably need to outsource this role to someone with the right skills. You might also benefit from a professional headshot to use on your website and marketing.
Gifts and giveaways – These costs tend to be met by the author.
Launch – a book launch for a self-published author will usually take place at the author’s expense.
POST-PUBLISHING:
Time – A debut novel can take years to complete, but unless you’re fortunate enough to earn a reasonable living from your writing, chances are you’re not being renumerated for your time. And not just for the writing of the books themselves – a lot of your time will also be dedicated to submitting your work to agents and publishers, securing reviews, blogging, social media, marketing and other tasks.
Royalties – Book earnings are divided between the author, agent, publisher, and retailer. Author royalties earned through traditional publishers are unlikely to extend beyond 10%/book, with the understanding that the publisher will bear all other costs including marketing (though there is now an expectation that even traditionally published authors will market themselves, with no increase in their royalty rate to support this). Some traditional publishing houses offer even less – only 10% of their profit, as opposed to 10% of the overall retail price. Some contract you to reach a certain number of sales before you see any royalties at all. You can increase your royalty by self-publishing, but in doing so you’re likely to achieve less sales overall, as well as being required to meet the production and marketing costs yourself.
Taxes – Once you reach your country’s income threshold, you will pay taxes on your royalties, possibly in the US as well if your book is also sold there. The above expenses may offset some of your taxable income, so it’s worth keeping a record your expenses, retaining receipts as proof, and seeking the advice of a tax accountant.
MISC.
Books – Writers are often voracious readers and some books are considered essential to a writer’s toolkit – the annual Writers’ And Artists’ Yearbook, for example where they can find contact information for agents and publishers, or Stephen King’s memoir, On Writing.
Writing Competitions – Would-be authors are encouraged to enter competitions such as short story and poetry competitions, or pre or post-publication novel competitions. Many competitions have an entry fee, but they can be worth entering on the basis that being long or short-listed or winning such a competition may lead to industry recognition and other writing opportunities.
Author Memberships – Memberships with organisations such as the Society of Authors can be a fantastic source of advocacy and advice. If you’re offered a publishing contract, their contract advice can be invaluable. These services require an annual fee but in my opinion are worth every penny. There are also more genre-specific memberships such as the Romantic Novelists’ Association which tend to include discounts to conferences and events.
Writing Courses – Whether it’s an informal course at your local library or community centre, or a more formal course at college or university, there can be significant costs involved in developing your craft and test out your material on a wider audience.
Writing Retreats and Events – some offer opportunities to pitch your latest manuscript to those in the industry – at a cost.
(a quick word about) Vanity Presses – There are legitimate services authors can utilise to pay for the process of publishing their manuscript – these can be wonderful in preserving a family member’s memoirs as a keepsake for example. They are upfront about their services and pricing, and make no claims to be anything other than what they are.
There are unfortunately also many illegitimate services – aka vanity presses – that aren’t upfront about only publishing your novel in exchange for $. They tend to be permanently open for submissions, often claim to offer both traditional and self-publishing services, then indiscriminately offer to publish an author’s novel (whether or not it’s any good) in exchange for payment. What isn’t mentioned is that there is likely to be little to no investment in the novel’s marketing, so while you might have a book, you probably won’t have a readership.
There are also publishers that claim to be traditional but actually offer highly exploitative contracts. For example, they’ll publish your book, but you’ll be contracted to accept 0% royalties until you achieve an unrealistic number of sales (e.g. 5000+).
It’s important an author understands exactly what they’re committing to when opting into these sorts of services. That’s where membership with services such as The Society of Authors come into their own, because they often offer advice on publishing contracts and can determine whether terms are in your interests and aligned with industry standards, giving you a footing to negotiate accordingly. At the very least, you scan through Writer Beware and reviews on your publisher to see how legitimate they are.
___
I haven’t priced the above items individually as the variation is huge. However, as you can see an author’s costs can easily run into hundreds or thousands of $, even on a limited budget. There are also many angles from which debut authors can be exploited, so it’s important to do your homework and make informed decisions. Use your discernment to determine which of these items are worth budgeting for (and many are!), where the perceived value is, and how much you’re willing to invest. If you’re cautious but committed, you never know – it could be an investment that one day pays off!
Are there any items I’ve missed? Let me know!
Gemma Frances 