Pricing and Licensing Screen

Posted on July 20, 2007
Filed Under Self-Publishing with Lulu |

This screen does just what it implies. Let’s start with the licensing. Most authors choose the standard copyright license. However, there are a variety of licenses you can choose from, such as the GNU or the public domain. You decide.

Okay, now let’s get on with the pricing. This is where I see many authors screw up. They price their royalties too high, which drives up the price of their books. I’ve seen prices as high as $25 for a standard 320-page paperback novel. How many sales do you think these authors made? Aside from their family, probably none.

The average trade paperback costs $7.00. The authors of those books are lucky to receive 5% for each book sold. That’s the reality for traditionally published authors. Like it or not, it’s a reality for us too. I took the generous end with this book and calculated what my royalty would be at 5%. It was a paltry .35, which brought the price to $7.54 for a 133-page book.

Set your royalty payment as low as possible, keeping the book’s price between $12 and $16. The lower the price, the better. Your royalties for each book will be low, but it’s more important to sell by the volume. The more people who buy and enjoy your book, the bigger the chance that they’ll spread the word.