ARISE: The Rise of the Indie-Author
Independent authors who fail to do their homework, due diligence, shop around or ask the right questions, can fall into a perilous trap. I recently came across this real example, and do, unfortunately, numerous times in a year.
I came across a book being printed. On its back cover was its retail price of $24.95.
The trade printer was charging the print broker $10.00/copy. The print broker will add approximately 40% to this price (their own cut) and the end user - the independent author themself - will be paying $14.00/copy.
Now, assuming some copies will be available at a big box bookstore (Chapters/Indigo, etc.) they traditionally take 45% off the retail price. We find ourselves in a conundrum.
Retail price: $24.95
Less bookstore cut: -$11.23
Less print cost: -$14.00
Final Profit: -¢28
For every copy sold, the indie-author loses ¢28, at the minimum. Bear in mind, ALL other costs - promotions, signage, banners, business cards, book markers, editing, travel, gas, etc. - must also come out of this profit margin...or in this case, a lack of a profit margin.
This book is doomed before it even begins.
Now, that's not to say an indie-author has to use big box bookstores. Not at all. One could do smaller independent bookstores, who will take a smaller cut (often between 25%-35%) or even fairs and markets which will only cost a flat fee for the table/kiosk.
This soft-covered book is approximately 5-1/2" x 8-1/2" about 220 pages, and priced at $24.95. However, as an independent author, breaking the $19.99 price-ceiling is playing with fire, in my opinion.
Also, this sized book - both page count and physical dimensions - should cost, depending on its print run - somewhere around the $4.00/copy price, and should retail around $19.99 or less. (And this per-copy-cost could be dropped further).
I think where many indie-authors go wrong is their lack of understanding, or misunderstanding, of the differences between Printers, Print Brokers, and Publishers - and to add to the confusion, there are numerous types of Publishers.
Traditional Publishers, Vanity Presses (and the title "Press" is just a confusing term for publisher with the connotation of a printer thrown in), Hybrid Publishers and Self-Publishers (which has to be truly the epitome of hypocrisy as, if you were truly self-publishing, you would not be dealing with ANY publisher). Many, if not all, Vanity Presses, Hybrid Publishers, Self-Publishers make their money and profits up front, leaving the author penny-less. They have no incentive nor invested interest whether the author succeeds or fails at this point. Their money has been made. (See a list at this article's end of publishers to avoid or at least question).
In early 2020, despite the pandemic, Broken Keys Publishing released its first title not of MY own work. (A collection of tales by H.P. Lovecraft) and then later an anthology of 14 Ottawa authors (Thin Places, which won the Ottawa 2021 Book of the Year Award). With Broken Keys Publishing winning the Ottawa Best Publisher/Publishing House for 2020 and 2021, we are beginning to seriously look into publishing others' work.
And suddenly these definitions become relevant. Always an advocate for the self-published indie-authors, our endeavours are focused on both operating a functional business as well and truly aiding, encouraging and nurturing up-and-coming Ottawa literary talents - to the ultimate goal of them breaking free of ANY publisher (including us) and truly becoming an independent author.
Although our model is still in its formative stage, our core beliefs are that neither publishers nor authors should expect to be paid for not working. We do not believe an author should receive ¢20 on a $20 book sale. We also do not believe the "job" of an author or poet ends as they finish writing their book.
Moving forward, we encourage dialogue and discourse on these topics; formative conversations as to our collective path forward.
Please, comment, message me, or email me at brokenkeypublishing@gmail.com
As the pandemic passes and lockdowns, restrictions and social distancing lifts, we are looking forward to conversations and speeches on this topic.
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