Friday 1 February 2013

Everybody wants their cut

The publishing industry is like the music and art scene in the 50's, 60's, and 70's. During these decades everyone made money out of the artist except for the artist themselves.

Just think about the Beatles, the greatest band of their time. By 1970 they were nearly bankrupt as everybody took something from their success. It was only in the the early 90's that the tables turned and bands started to make even the smallest return for their hard effort. It's was the same for painter's etc, etc.

There are a few examples that manged to make great money out of writing books, like J.K.Rowlings, but not in her early days, it was only once she took control did she see any return for all her hard work.

The one thing which attracted me to Bookguild publishing was that they had various differnt options open for a writer.

The main one was the normal route of signing away your rights for a sum where they then take the risk, but get all the rewards. The other was a half way house where you took a risk with the costs, but they then shared the rewards with you.

I had given up evrything to write my book. I had given up a secure job. I had given up my social life. I had risked my family life, everything you can think of I had had to change so I could become a published author.

I once read a book called The Secret by Rhonda Bryne. It's basic message is that if you have total faith and give 100% you will get back what you have given.

I liked the second choice by Bookguild, the halfway house, I pay towards the cost and take the risk, but the rewards would be greater.

There is a thing called self-publishing, and there are many companies out there that claim they will help you to do this, but this was different. They didn't promise the earth, the choice was up to you what route you took, and I wanted to take a route that gave me a chance of a least some reward.

In publishing authors make very little money. A book may cost £9.99, or $9.99 or 9.99 euros but the retailer will want to make a 100% mark up so will get that book for at least £4.50, $4.50 or 4.50 euros. The publisher will want to make 20% gross before they have even taken out their printing costs, and then if you have an agent he will want his cut.

Basicly an author can expect to make 40p out of a £9.99, £9.99 book. Once the supermarket grops start selling it at £3.99, $3.99, or 3.99 euros then you will only get 10p a book.

My reserch on the internet had shown that most authors are lucky if they make twelve thousand a year, and thats only if they have three published books bringing in the money.

This is the reason I wanted to visit Bookguilds office in Brighton. I wanted to take the risk but only after I could prove to myself they were the 100%.

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