This is the last in the series of What Does Self-Publishing Cost posts. After a preview, we looked at two other models of self-publishing, each representing a range of choices that self-publishers can make when they start planning their publication. Here are the links to the rest of the series:
What Does Self-Publishing Cost: A Preview
What Does Self-Publishing Cost: DIY
What Does Self-Publishing Cost: Online Self-Publisher
Today we’ll look at the most ambitious self-publishers, the authors who set out to compete head to head with books from major publishers, to get reviews in the most prestigious newspapers and journals, and to eventually compete nationally in the marketplace. I’m calling these publishers Competitive Self-Publishers.
9 Cost Categories for Competitive Self-Publishing
- Company setup—Competitive self-publishers have a fully-formed business structure. It may be a sole proprietorship, a partnership or a corporation. Many already have businesses when they enter publishing, and use that company to launch their new endeavor. Our publisher will have proper accounting and understands the tax implications of business decisions. Since the Competitive Self-Publisher intends to sell across the distribution spectrum, this publisher will have to handle record keeping, invoicing, banking and collections. It’s also more likely he will fully outfit his publishing company with branding and peripherals like a logo design, stationary and other accouterments of a small business.
Total: $500 – 1,500
- ISBNs—Costs here are pretty much the same as for the Online Self-Publisher. You still need ISBNs for all your editions, and the question remains of how many to buy, but the single ISBN is no longer an option.
Considering the different formats this publisher will use, and the possibility of additional products, figure on at least ten ISBNs at a cost of $250 at myidentifiers.com. But in many cases, publishers will opt for the 100 ISBN plan, to fully prepare for a successful publishing future.
Total: $250 – 575
- Manuscript preparation—The Competitive Self-Publisher may use office staff available to her in her business, or outsource the details of manuscript preparation, although many will do all manuscript preparation themselves.
Total: $0 – 150
- Editing—The Competitive Self-Publisher approaches editing as a critical and necessary part of the publishing process. They find editors through other industry professionals, and may survey a variety of editors for prices and sample edits. Competitive Self-Publishers often get editors involved early in the process to help shape the manuscript as it develops. They will use most if not all of the editorial services that are so important to creating a really high quality book: developmental editing, copyediting and proofreading. For scientific, technical, historical or similar books, they will use editorial help for fact checking, bibliographic help, and other tasks in book creation.
Repeating from the last post:
Nothing is more difficult to estimate in the book process than editing. Recent books I’ve worked on have ranged from 45,000 to 227,000 words. Some are challenging in their language and aspirations, others are intended to be casual and conversational. Each author brings different communications skills to their books. Some books need a lot of fact checking, or have copious notes sections that have to be painstakingly formatted. Each of these factors influences the time it takes to edit the book, and therefore the expense.
Here we’ll assume our self-publisher understands that a well-edited book is essential to reaching the wide audience she desires. She engages the services of an experienced book editor for her 65,000 word, 200 page 5.5″ x 8.5″ trade paperback, and brings in other editorial professionals as the book develops.
Developmental editing: $1,500 – 6,000
Copyediting: $2,500 – 5,000
Proofreading: $750 – 1,500
Indexing: $500 – 1,000
Total: $5,250 – 13,500
- Design—Competitive Self-Publishers make a big leap in this category. They realize that competing toe-to-toe with books from major publishers requires them to turn the design of their book over to professionals. Both the product—the book’s interior—and it’s packaging—the cover—will receive the attention they deserve to fulfill the Competitive Self-Publisher’s aspirations for their book. He will rely on these professionals to take care of the myriad tasks in book production such as dealing with printers and preparing files for reproduction.
Total: $1,500 – 5,000
- Review program—Make no mistake, Competitive Self-publishers will mount a vigorous review campaign for a book with potential review sources. From Prepublication reviewers, to national and local newspapers, magazines, specialty media, and trade associations are likely candidates for review copies. A media kit created with help from professionals will accompany the review books. It’s not unusual to see review mailings of 200-300 copies in an attempt to drive traffic and sales for a self-publisher who has their book in national distribution. Add to this an Advance Reader program for peer review or “blurb fishing” and you can see that the costs here add up quickly. Let’s plan on digital review or reader copies, too.
Books: $700 – 1,000
Packaging and shipping: $800 – 1,200
Media kit: $250 – 1,500
Total: $1,750 – 3,700
- Platform building—Our Competitive Self-Publisher will use as many methods of promotion and marketing as feasible for their budget, and platform-building will receive a lot of attention. An e-commerce enabled website, a blog around the topics of the book, as well as offline efforts like organizing seminars and workshops come into play. Using internet book marketing is a given, and web professionals will design the online properties needed by the self-publisher.
Running autoresponders, opt-in programs, newsletters, seminars, workshops and speaking engagements are activities that can make a powerful difference to the success of a book. Here’s where the author’s reputation and authority in their niche contribute to spreading the word. Since this is such a big cateogry, let’s make it an estimate.
Total: $1,500 – 7,500
- Proofing and Reproduction—Competitive Self-Publishers make another move away from the pack by much more frequently relying on offset book printing instead of digital. To fill the distribution chain and have books available in just the major metropolitan areas of the U.S. our publisher is going to print 2,000 books minimum. This will allow her to get a better-looking book, to use special finishes or unique trim sizes, to have a wider choice of materials, and to get a much lower production cost.
Suppose we find a good deal among the abundance of high-quality short-run book printers, and we can get the unit cost down to $2.25, about 40% less than what the same book would cost in digital print-on-demand production. However, these cost savings come at the price of a steep upfront investment.
Total: $5,000 – 7,500
- Fulfillment—The Competitive Self-Publisher may concentrate on digital sales, or driving buyers to online retailers like Amazon.com, but to truly compete, she knows she needs distribution. Since it’s virtually impossible at the moment for single-book self-publishers to get distribution, she will have to settle for setting up accounts with whatever wholesalers might take her book, and either do her own fulfillment, packing, shipping and invoicing bookstores, libraries and institutional buyers herself. It’s no longer enough to just buy the big box of Jiffy bags. The costs here are for storage and insurance on her inventory. Even if she puts the books with a fulfillment company, the costs are transactional, and don’t come into play in our financial planning.
Total: $500 – 1,000
Let’s Add It All Up
The Competitive Self-Publisher is establishing a business. More than the others we’ve looked at in this series, this is a business proposition, and the expectation is to make a profit. Our publisher will make her decisions in consultation with editorial, design and marketing professionals, and the resulting book is intended more as a product or professional lever than as an act of creative self-expression.
Adding our nine categories, we have a total of $16,000 – 40,425. At this point it’s easy to see why you need to make a profit. Self-publishing at this level isn’t a hobby, it’s a business enterprise. Our Competitive Self-Publisher may be looking to establish her book as an authority with a long shelf life. This will help amortize the investment by returning profits for years to come. Or she might be rolling the dice, convinced she can attract enough media attention to make it into the spotlight for a rush of sales.
The commitment by any self-publisher is immense, but for the Competitive Self-Publisher it’s combined with a serious business investment.
Variations and a Final Thought
My range of figures is only meant to be representative. I think it’s entirely possible to produce a competitive book and get it into print closer to $10,000. On the other hand, I know that some people spend in excess of $50,000 to launch a book. When dealing with investments like this that are tied to the success or failure of a single product, it just seems prudent to get the best help you can afford.
Beyond the costs involved and the risks and rewards of playing in a big marketplace, this is also how the best books come into being. Book publishing, in its most developed form, seems to me to be a collaborative effort. Many talented and experienced people bringing their knowledge and creativity into play to produce something that no one person could achieve by themselves. When an author makes the decision to publish their own book they are—wittingly or not—jumping into just such a collaboration.
When it works, it can produce really outstanding contributions to our cultural life. There’s just nothing else quite like it.
Total Competitive Self-Publishing cost: $16,000 – 40,425
Takeaway: Competitive Self-Publishers invest in professionally-produced books and spend the money to compete on a national scale. They often produce superior books, making a lasting impact on society.
Image: Flickr.com / derek&kristi