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Book Royalties
The following 2 comments and questions have been sent in. They are listed according to date.
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Wants to make top royalties from book
Question
December 2, 2008
I live in India and wish to approach a publisher who is a good pay master as i strongly feel that the book which i wish to publish is best in quality and not available anywhere and hence will b in demand.
Since i don't know A B C of royalty, how do i bargain with the publisher? How do i know the ideal rate for me? y not opt for a lump-sum amount whether the book sells or not?
pl advise
mahesh - India
16888
Answer
The most important issue you should concentrate on is being able to convince a publisher to publish your book. That should be done before even thinking of the royalties, because it is the most difficult thing to do.
You need to start by sending a query letter with a short summary of your book concept to various publishers. Start with the top publishers that have handled bestsellers and work down from there. You can also approach literary agents who can help you find a publisher and negotiate the best terms.
To get the very top royalties, you need to get at least two publishers interested in your book. Then they will bid against each other to provide you with the best cash advance and royalties.
Realized that a publisher is in the business of making money by selling books. They are putting up a substantial cash investment to publish the book. They are not in the business of charity to give authors lump-sum money whether of the book sells or not.
Again, I want to emphasize that your first objective is simply to get the book published. Even if you do not make good royalties from the book, need a published author can open the doors to other moneymaking opportunities.
Best wishes for success in your new book.
Offered 7 1/2% royalties on my book
Question
March 25, 2008
I have been offered a contract by a book company with a paperback royalty of 7 1/2% of the retail price on the first 10,000 copies and 8% of the retail price on all copies sold thereafter. Is that a fair and reasonable price, if the book is only to be printed in paperback?
Dorothy - USA
15590
Answer
7 1/2% is a reasonable royalty on a paperback, although on the low end. You might try to negotiate more on the sales over 10,000. Perhaps 9% or even 10%.
The big concern is being able to effectively promote and market your book. You can't completely depend on the publisher. Discuss promotion with them to see how you can increase your book sales.
Best wishes on a successful book.
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