One of the first questions people have when deciding to self-publish an eBook is how much money they can make. Though, making money isn’t the end of things. You have to also calculate how much money you spend and how much you save to self-publish your eBook to calculate your net profit. When compared to traditional methods, self-publishing may make you more money and save you more money.
Money you make from the sales of your books can actually be tracked online. Most eBook self-publishing tools allow you to track how much you make each month. But how much can you earn? That varies and depends on you. If you’re willing to put in the work to promote your book, you can sell thousands of copies; if you don’t, you may only sell one copy. The site you choose to publish and host with, will also determine how much you earn because many of these sites will take a percentage of your profits. The general fee is twenty percent, but some places, such as Amazon, can take as much as 50 percent of your profits. But still this is much better than many publishing companies. Many of these companies require you and your agent to negotiate a deal, and you don’t have a leg up on them like you do when choosing your own self-publishing company.
Spending money on the eBook self-publishing platform you choose will reduce your net profits. Some of these companies charge per package, and some just charge a flat fee. For instance, Lulu.com has a package which will cost you as much as $5,000 for publishing, distributing, and promoting your eBook. If spending that money upfront is not worth, or if it is something you can’t do right away, you can always choose Lulu’s cheaper option that simply publishes your eBook for $248. This does not include promoting your eBook, so you’d have to do the promotion work yourself.
The money you can save self-publishing your eBook will factor into your net income because money saved is money earned. If a traditional publishing company would charge you $10,000 and you only spend $248 by self-publishing, you’ve saved more than $9,000. This means you’ll be about $9,000 ahead of where you’d be with traditional publishing. Additionally, if you do all the promotion work yourself, you’ll again save more money. Finally, you choose the company you want to work with, which means you save time that would otherwise be spent pitching your eBook, and time is money. Save time by going the self-publishing route and getting your eBook on the market faster, where you can sell it and make money.
Making money with a self-published eBook isn’t easy, but the amount of money you save and the amount you spend are comparable to having a publishing company do the work for you. The money you make really depends on how much you invest in the eBook, both with time and money, and how creative you get with promoting and marketing. Using all the free options available to you will contribute to the money you make because it saves you from financial investments in the process of getting people to buy your book.