With my interaction with friends, fellows, and aspiring writers, I have always been questioned if I get to take the MRP of each book sold. Many think, I have made lakhs with my book (Chuckles) whereas in reality, I only spent more than what I made. This, in real, is the case of most of the authors. Even during one of the workshop, one writer ended up asking if he can make enough money just by writing. Sad truth being a NO, I thought I will bring Royalty into picture. Now that you know how much you will have to spend to publish with Q for Quotations post, here is what you should know about the ROI (Return on Investment)
So, what the author makes?
The money that the author makes out of books is called ‘Royalty’ what a fancy term! It is just a small percentage of the MRP. The Percentage varies according to the author (Big authors get advance payments too) and also, the publishers. Big publishers pay better than the second tier, they say! So mostly is varies between 7% to quote the least to 20% as the maximum.
So if the book’s MRP is 200 INR then the royalty is between 14 INR (No I didn’t miss a zero in the end, it is fourteen) and 40 INR.
The above is for traditionally published, for vanity publishing – you get up to 50 to 60 INR (Of course, you pay 20k to 1 lakh up front) and for self-published books via pothi it is around 20 INR only.
What if you go through a literary agent? you have to give 10-20% of the ROYALTY that you make. Yes, 2 to 4 INR of every book sold goes to the literary agent and I have heard that you should promise a count of books that would be sold for sure, if your book don’t meet the count, author has to buy the rest. Stop crying!
And, any promotional offers or slashed price to help sell the book – author makes no money!