How to Set a Book’s Price

Steven Capps

After the back blurb, the price of a novel is the second thing that I look at once its cover catches my eye. If the price is set to high then I will likely put it down. If it’s priced to low then the author can make little to no money on their product despite the countless hours that they poured into it. Using some basic business skills that I picked up when I studied Business Management at Western Illinois University, we can create a plan in order to help indie authors price their work.

The two factors that create a price are expenses and profit margin. A general rule is to try to double an investment. If it costs $5 to create a book then the seller would want to charge $10 to cover their initial investment and make a high enough profit for it to be worth their time. The tricky…

View original post 442 more words

Advertisements

2 Comments

  1. Very useful information and it is what I need right now as I just finished writing my memoir. Thanks for sharing!

  2. I thought it was very helpful too Constance. What’s your memoir about?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s