Self-publishing is a business that is rapidly expanding. Authors have discovered a way to bypass the toiling, exploitative traditional publishing establishment, and they’re reclaiming control of their careers and creativity. While the creative flexibility, quick turnaround, and higher royalty rates all seem great, how much money can you make by self-publishing your books? Amazon is a popular site for indie authors. Amazon is a complex tool to learn and master.
On the other hand, a self-published author may make $10,000+ per month publishing their books on Amazon with a little study and a solid approach. The amount of money self-published authors make on Amazon varies from one author to the next. The money you make is influenced by the format of your book, how many copies you sell, and the decisions you make when preparing your book for publication. For more information, you can visit the below link:
Amazon’s royalty rates
Amazon’s royalty fee varies depending on your format and a few other things. Each type of book, such as eBooks and paperbacks, has its price. On Amazon, there are two different royalty rates for eBooks. One has a percentage of 35 percent, while the other has a percentage of 70 percent. What would compel an author to pick a royalty rate of half? The higher royalty rate will not be available for every title. The following are the requirements for receiving the 70% royalty rate, according to KDP’s website:
- The list price must meet the price specifications. The USD minimum requirement for a 70% royalty rate is now $2.99. Any price below that will be penalized by 35%.
- The list price must be 20% less than the physical book’s Amazon pricing. If you sell your eBook and physical books at the same price, you won’t be eligible for the 70% royalty rate.
- The eBook must be available everywhere the author or publisher has rights globally. If you limit the availability of your book, you won’t be able to get the 70% royalty rate.
- In addition, the 70% rate is only available in certain areas.
You might choose the 35 percent rate depending on your book’s goals. For instance, suppose you want to use a 99-cent eBook as sales funnel for your firm. However, if your goal is to make as much money as possible, you’ll want to tailor your publishing to meet the 70 percent royalty rate criteria.
What is the total number of books sold?
Let’s say each book is worth $7.60. To assess our income as self-published authors on Amazon, all we need to know now is how many books have been sold. There is no way to know how many books you’ll sell unless you try, but there is a technique to estimate how many other authors on Amazon are selling. The number of books available will also influence what an author produces. More sales will result from having books available in all media (paperback, hardback, and audiobook), but having more books published will also help.