How Much Money Can You Make by Self-Publishing a Book?

Do you write? Ever thought about publishing something? Getting a book published yourself to make some money from it? Running a self-publishing business is not as difficult as you think, you know. And the steps you need to take are reasonably straightforward.

Because book publishers who offer self-publishing can always help you with all the details while you take care of the writing. A lot of authors out there struggle to make a full-time income. On the other hand, there are a lot of writers who keep publishing books of half-decent content frequently to make a constant revenue. Which one would you want to be? Up to you. But self-publishing - you should at least give it a try.

You Can Make a Living as a Self-Published Author

You can actually make a full-time income from self-publishing, provided you have more than one book featured for sale each year and you write to your market.

Determining How Much You Can Make

The amount you earn annually depends on:

The Royalty You Earn for Each Book Sale

Royalties are what you earn from each book sold. This varies depending on your self-publishing platform and the price of your book. Usually, it's a percentage of the sale price.

For example, if you're selling through Amazon's Kindle Direct Publishing, you can earn up to 70% in royalties. So, if your book sells for $10, you could earn $7 per sale.

How Diligently You Pursue Marketing Your Book

Marketing is huge. The more you promote your book, the better your sales can be. This includes things like social media marketing, email campaigns, getting reviews, and possibly even book tours or speaking engagements.

It's all about getting the word out and keeping the momentum going. More marketing often means more sales, you know?

The Size of Your Niche, i.e., Audience

Your book's niche, or the specific audience you're targeting, plays a big part in your earnings. Some niches have tons of readers waiting for new books, while others are smaller and more specialized.

Knowing your audience and how to reach them is key. A larger audience usually means more potential sales, but even smaller niches can be profitable if they're dedicated.

How Many Books You Publish Annually

The more books you have out there, the more you can potentially earn. Each book is like a new opportunity to make sales. Some authors focus on writing a series, while others publish different standalone books.

Each new book is also a chance to attract new readers and keep your existing ones coming back for more.

Your Book Inventory

This is about how many different titles you have available for sale. Having a variety of books can appeal to a wider range of readers. It also means that if someone likes one of your books, they have more options to choose from for their next read.

This can lead to multiple sales per customer, which is great for your earnings.

Self-Published Authors Often Make More Money than Traditionally Published Authors

Here is a fallacy that many people believe: They think that people who go through the traditional process of publishing make more money. Actually, more income is directed to self-published book authors in the mainstream.

For example, self-publishers can make between 40% and 60% in royalties per book, publishing 2 to 3 high-quality books each year. While you won't receive an advance, you can start making money immediately. 

By comparison, traditionally published authors make about 10% to 12% in royalties per book. It takes about 2 to 3 years to publish a book, so your profits don't materialize instantly. You do receive an advance upfront, but you will not make any royalties until you repay the advance money to the publisher. 

A typical advance of $10,000 is nice compensation while you go through the publishing process. However, as noted, you won't start making money on your royalties though until your sales go past the $10,000 mark.

How Much Can Self-Published Authors Make Per Book?

Okay, let's look at how much you can make as a self-publisher or a traditional publisher for the same book retail priced at $13.99.

This analysis assumes you have printed a book through Amazon and have subtracted the printing costs. 

At a 50% royalty rate, compared to a 10% royalty rate for a traditionally published author, you will make $4.75 for each book sold while a traditionally published author will receive about $.95. This assumes a $4.45 printing cost for each author. A traditionally published author may receive more for each book published if he or she works with a publishing house that has partnered with a printer.

What Is Selling in the Marketplace?

To ensure your book sells, scrutinize the book market. What genres of books are selling? Get a clearer understanding by reading publications like Publishers Weekly. Look at the categories you love to write on and see what kinds of stories are doing well in the marketplace. 

Once you get an idea about the subjects you want to write, you can find out how to get a book published by reviewing book publisher services and types of self-publishing opportunities.

Types of Self-Publishing Opportunities

1. Aggregators present platforms that distribute books to different online retailers.
2. Self-publishing retailers present e-commerce and online platforms that sell books through their retail stores. Examples of these retailers include Barnes & Noble, Apple Books, Kobo, and Amazon.
3. Publishing education companies offer author education programs that include self-publishing courses to help authors learn more about self-publishing to build their career. 

Services Offered to Self-Publishers

Self-published author service companies provide self-publishing services to authors, such as cover design, illustration, and book editing support. While these companies are helpful to self-publishers, they, technically, are not considered self-publishing companies.

To make sure your book sells and you earn a living as a self-publisher, you need to consider your book as a product - one that you want to direct to a specific audience. That way, you can plan the book's outline more easily and add the type of material your readers want to read.

Getting Started with Self-Publishing

Now, let's go through the steps to turn your manuscript into a book that readers can enjoy.

1. Finishing Your Manuscript

First things first, you've got to have a completed manuscript. This is your story, your words, and your voice. Make sure it's something you're proud of. It's a good idea to have others read it too, for feedback, you know?

2. Editing and Proofreading

Once your manuscript is ready, it's time for editing. This can be a bit of a grind, but it's super important. You can hire a professional editor or ask a grammar-savvy friend to help out. They'll catch errors and suggest improvements. A well-edited book feels more professional, right?

3. Designing the Cover and Layout

People do judge a book by its cover, so make yours stand out! Designing a cover that captures the essence of your book is crucial. You can use design software or hire a designer. Also, pay attention to the interior layout – it should look neat and readable.

4. Choosing a Publishing Platform

Now, where to publish? There are platforms like Amazon's Kindle Direct Publishing (KDP), Apple Books, and others. They each have their pros and cons. Amazon is super popular, but others might offer better royalties or more control over your book.

5. Formatting Your Book

Each platform has its own formatting requirements. This step can be tricky, but there are tools and services that can help. Make sure your book looks good on different devices – like e-readers, tablets, and phones.

6. Setting the Price

Pricing is a bit of an art. You want to make your book affordable but also earn something for your hard work. Research similar books in your genre to get an idea of pricing. Sales and promotions can also help boost your book's visibility.

7. Marketing - Promotion

This is where you get creative! Use social media, create a website, maybe start a blog. Connect with your readers and build a community around your book. Word of mouth is powerful, you see?

8. Collecting Reviews and Feedback

After your book is out, encourage readers to leave reviews. Positive reviews can really boost your book’s visibility and credibility. Constructive feedback is also great for your growth as a writer.

9. Keeping the Momentum

Lastly, keep the momentum going. Engage with your readers, maybe start working on your next book. The more you write, the more your audience grows.

And there you have it! Self-publishing is a journey full of learning and creativity. It's not always easy, but seeing your book out there for the world to read? That's pretty rewarding, isn't it?

Picking the Right Self-Publisher

Choosing a self-publisher is a big deal for any writer. You want to make sure your book gets the attention and care it deserves. Let's break down what to look for in a self-publishing company.

Book Publishing Volume and Sales

First up, sales volume. A self-publisher with high book sales is a good sign. It shows they know their stuff when it comes to getting books out there and selling. High sales mean they've got experience and a process that works. You want your book to be part of that success story, right?

Industry Reputation

Reputation is key. Take a look at what people are saying about the company. Are they respected in the industry? Do they have positive reviews from authors? A good reputation means they're doing something right, which bodes well for your book.

Reliability

Now, reliability is crucial. You want a self-publisher that's been around the block, one with a track record of keeping their promises to writers. Check out their history. Have they consistently published books? Do they meet their timelines? A reliable publisher takes a lot of stress off your shoulders, you know?

Author Support and Help

Support is a big one. Does the publisher offer resources to help you reach your publishing goals? Look for services like editing, cover design, marketing assistance, and so on. The right support can make the publishing process smoother and more enjoyable. Plus, it can really boost the quality of your final book.

Affordability

Your budget matters. Find a publisher that offers services at a price you can afford. But remember, cheapest isn’t always best. You're investing in your dream, so it's worth paying for quality services that give your book the best chance to shine.

Subscribers

Finally, consider the publisher's subscriber base. A large email list of subscribers means they have a wide reach. This is great for marketing your book. A publisher with a solid base of subscribers can help your book get noticed by more people.

When picking a self-publisher, it’s all about finding the right fit for you and your book. It's like a partnership. You want a publisher who not only values your work but also has the tools and experience to help you succeed. A good self-publisher can make all the difference in your book's journey, right?