How Much Does It Cost To Self-Publish Your Book?

The short answer is it depends.

The long answer is this article (promise to keep it as close to the short answer as possible).

We are going to look at two scenarios for self-publishing your book with the intention of producing something that will look professional and result in sales. Who wants to write something that doesn’t sell? I’m guessing few, if anyone.

Scenario 1

Scenario 1 is the do-it-yourself method; the way many people self-publish their work.  In this scenario, after you write your book, you:

• Make your own cover (cost $0, just your time)
• Proofread/edit the book yourself (cost $0, more of your time)
• Post to KDP, NookPress, Kobo, Smashwords (cost $0, a little more of your time)
• Market your book on free sites (cost $0, more than a little of your time)

Total Cost = $0 + a lot of your time (that you could spend writing your next book).

Scenario 2

In this scenario, after you write (or better yet, before you finish writing) your book, you:

• Hire a cover artist (cost from $30 for a pre-made cover to $400+ for a custom cover)
• Hire an editor (cost from $0.005 to $0.01 per word, or more depending on the quality and type of editing)
• Post to KDP, NookPress, Kobo, Smashwords (cost $0, a little of your time)
• Full marketing campaign (cost can range in the hundreds of dollars)

Total Cost = $400 (cover) + $600 (editing for 60K words) + $200 (various marketing methods) = $1,200

So which option is best?

Mike Cooper calculated the average ebook earned $297 in one year. If that is true, then the book in scenario 2 would take 4 years to break even. Most people I know are not patient enough for that.

Not so coincidentally, most people who self-publish opt for scenario 1. They do everything themselves; and it shows. Most self-published ebooks have poor cover designs and suffer from a severe lack of editing. This has led to some of the derision of people towards self-published works. There’s nothing that screams amateur more than an unedited book.

However, there’s no guarantee that the book published in scenario 2 will sell more than the book in scenario 1, but there’s a saying that goes something like this:

If it takes luck to be successful, why not maximize your luck.

That’s what scenario 2 provides, the maximification of your luck (yes, that’s a new word).

The trick is being smart about what you invest into a book versus the expected return. Consider Mike’s calculations about average sales of ebooks and use that data to develop your plan. If the book is likely to sell a handful of copies, then a $500 cover is probably not the best idea (at least at first). Editing can be had for less than the rates above, but the quality of the editing will likely suffer. Again, if the book is likely to only sell a handful of copies, then consider a proofreader at minimum. That form of editing is often less expensive, but will help immensely in the long run. Finally, there’s marketing; ads, free days on Amazon, book reviews, book list sites. There are many, many venues online to promote your book. But not all of them are created equal so you have to spend the time to determine what is the best course of action for you, all while understanding this generally accepted maxim about marketing:

The best marketing for your book is your next book.

Anyway, I hope you gained a greater understanding of what costs are involved with self-publishing. I’ll leave you with this question (come on, I know you have an opinion):

What scenario do you prefer for publishing your work? 1? 2? Something in between?

Until next time…