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Do
you have a question for the author? Or perhaps you'd
like to send a blurb about your POD published book.
Just send them to: asktheauthor@everythingaboutpod.com.
Hi John:
Well, I have trampled through all my resource books
and I know it must be in your book somewhere but I
can't find the answer…so, here's the question!
Is there a standard percentage rate that bookstores
take when you do author signings and you bring the
books yourself? Recently two stores have offered to
have signings but both want 40% of sales. (One would
require overnight travel, so that definitely eliminates
any profit). Neither of these are chains and I realize
everyone wants to be profitable but that seems a bit
steep?? What's your view on this?? I'm thinking it
would be better to have them order books directly
from Infinity instead.(?)
Thanks....Jo
Lee Dibert-Fitko
Hello Jo
Lee…good questions. When an author brings their
books to the signing the percentage going to the bookstore
is usually somewhere between 10 to 20%. Depending
on how much was done by the store's event coordinator
to promote your scheduled signing. Bookstore usually
buy books at the wholesale price of 40% off the cover
price-they both want to make the same 40% without
having to buy any of your books. By bringing your
books, that you purchased from Infinity at 40% off
cover, and giving them 40% of the sales you're only
going to earn your 10% royalty on the wholesale order
you placed for your own books and nothing from any
sales from the book signing. I'm not interested in
not-author-friendly events.
When you
add the cost of travel and overnight lodging it is
going to cost you more to do the signing than you'll
make. Also, add in your expenses with the cost of
books you paid for and you have to sell lots of books
to cover your cost for just being there. The number
of books you sell at the signing depends on how many
folks attend and how entertaining you are.
I'm surprised
that both of the stores are independents-usually they're
much more understanding and accommodating of self-published
authors. They need to earn a profit, but so do you.
Offer to split the differences with 20% of the sales
going to the local bookstore. With the overnight trip,
offer 10% and be ready to increase it to 15%.
You can
also make an arrangement with the bookstore to sell
them the books you brought to the signing at 40% off
cover. Offer to sign your books and be sure they understand
the books aren't returnable. Customers are likely
to come into the store looking for an author's book
weeks after the signing. That's the power of word-of-mouth
exposure to sell books. The benefit you get whenever
you talk about your book is increased exposure for
your book.
Part of
the argument you'll hear is that they are spending
money to promote your book signing. Bull!!! You have
one title surrounded by thousands of books waiting
on shelves to be purchased. The store has a far greater
potential to make a sale as a result of promoting
your signing than you do. Thusly let them carry the
freight for using you as the lure to get book people
into being surrounded by books. You're the entertainment
and their job is to entice folks to come to meet you
and be entertained. The house has the very best odds.
So the odds are the store will sell far more books
than you.
Increase
your odds by suggesting the bookstore order books
for your signing directly from Infinity Publishing
via Buy Books On The Web.com because the author usually
earns a higher royalty on orders placed directly with
the publisher or the publisher's outlet bookstore.
Enjoy often…John
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