How is the price of my self-published book
determined?
The price of your book is determined by a fixed cost for the cover and page count,
plus the distribution cost and royalty amount. The cover cost and page count determine
the minimum base price for the production of your book. Then the distribution and
royalty amounts are displayed after you choose the total selling price.
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What is "distribution cost" in online publishing?
The distribution cost is calculated by the costs involved in offering your book
for purchase through various channels. These costs include maintaining your book
on a Web site, keeping information current, order fulfillment, customer support
and any other processes to ensure that your book is available to others.
Who decides my royalty amount?
You have ultimate control of the royalty amount (how much you make per book sold).
Based on the total selling cost, you can choose to make as little or as much as
you wish for your book, which is entirely your decision.
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When do I choose my price?
During the process of DIY self-publication, you will be prompted to choose your
price after the manuscript and cover are approved (because we need to know the final
page count and book size).
Can I change the price of my book later?
Unfortunately, you cannot change the price of your book once you approve and finalize
it for publication. Make sure that whatever price and royalty amount you choose
is an amount you are comfortable with for the entire life of the book.
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I did not purchase an ISBN and channel distribution; do I still need
to enter a retail sale price?
Yes, even if you do not purchase retail distribution, for technical reasons, you
still must select a sales price for both CraigsPress.com and retail channel sales during the publishing process. You may
decide to add distribution later, and then we will already have the selling price and
royalty calculated. This will ensure that your book and its information are efficiently
relayed to the retail channel.
What is the best price for my book? How do I decide?
The best price of your DIY book depends on a variety of factors, but overall, the
choice is yours. There are a few items to consider when choosing your price.
First, you may want to look around at different bookstores and online to get a general
feel for the price of books for different lengths and genres. Next, consider your
market. Who is your target audience and how much do those people typically spend
on a book? If you are included in the targeted audience, ask yourself how much you
would pay for a book of your type and length.
You need to find a comfortable balance between
how much you earn per copy and how much the book costs, since these two amounts
are related.
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How am I paid for my book sales?
We pay the royalties for your book sales on a quarterly basis. When your royalty
earnings for a book reaches $20.00, we will pay out your royalties. We will continue
to hold your royalties until the balance due to you is $20.00 or more.
What are the payment periods? When do quarters start and end?
1st Quarter: January 1st to March 31st
2nd Quarter: April 1st to June 30th
3rd Quarter: July 1st to September 30th
4th Quarter: October 1st to December 31st
For each quarter, you are paid for the books sold and shipped in the given time frame. If a book was purchased online on March 30th, but the book was not actually printed and shipped until April 2nd, then you would be paid in the 2nd quarter, not the 1st, since the book didn't ship until the 2nd quarter.
You will only be paid once for the original book sale. For instance, if a book is resold in any kind of second-hand store, you will not earn a royalty on the purchase. Also, you earn a royalty when a retailer purchases your book for their store (when the book is printed), but not when the consumer actually purchases the book off the shelf.
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How long does it take to receive payment?
Sending payment requires approximately two months after the quarter closes. 1st Quarter checks are mailed in late May, 2nd Quarter checks are mailed in late August, 3rd Quarter checks are mailed in late November, and 4th Quarter checks are mailed in late February.
We do not receive the information reporting sales through distribution until 30 days after the close of the quarter. Then, we need additional time to verify, compile and send out the information to our authors. Back to top
Can I split the payment with another co-author?
No, we currently do not offer the option to split the royalty payment between individuals.
This is due to tax restrictions. You can, of course, do whatever you wish with the
royalty payments once you receive them, but splitting payments
with co-authors is entirely your decision.
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Can I arrange for someone else to receive my royalty payments?
Yes you can, but only if you transfer the entire rights of your agreement with CraigsPress.com
to that person. They will also hold the copyright for the book, but not the content
of the book or your manuscript. If you would like to arrange this, please contact
our customer support team.
What is the difference between a channel or retail sale
and a CraigsPress.com sale?
There are two different kinds of sales, and the difference depends on how/where the order is placed. When a book is sold through our Bookstore or support team, it is considered a CraigsPress.com
sale. A retail, or channel sale, is when the book is sold through any retailer other
than CraigsPress.com, like Amazon.com or Borders. Of course, these two kinds of sales are only possible if a book has an ISBN and Channel Distribution. If not, only the CraigsPress.com sale is possible.
The reason these two different kinds of sales are important is because although the selling price must be the same for both CraigsPress.com and retail sales, you will earn a different royalty amount depending on the type of sale. You receive a much higher royalty payment when your book sells through CraigsPress.com, because we only make a very small percentage off each sale. Retailers, on the other hand, get 40 percent of the selling price, which is calculated into the cost/royalty price the author chooses during the DIY publishing process.
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Am I paid royalty on books I purchase?
It depends on how you place the order. If you place an order for copies of your book through Live or e-mail with CraigsPress.com and receive your author discount, then no, you will not receive a royalty payment for that order. This is because you receive the "royalty" as a discount up front. However, if you order directly through our Web site or a retailer and pay full price, then yes, you will receive a royalty payment for that purchase.
I've noticed my book being sold as "used" on
Web sites, but I have not received payment; why haven't I been paid?
Often, retailers list books on their Web sites and advertise that they have "new
and used" copies of books. Retailers use this as a marketing tool to entice
the consumer by frequently offering a small discount on the used version. This does
not necessarily mean that they have an actual copy of your book on hand, which is
most likely the case if you have not been paid a royalty for the book sale. If any
books are sold to a retailer, you will earn the retail royalty amount which was
agreed upon.
If a retailer or third party actually is selling
a used copy of the book, you would have already been paid for the original
sale.
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Why is my book listed at a different price on certain
sites?
When you purchase channel distribution, your book is circulated to various retail
channels through Ingram, our distributor. Retailers can list the selling price of
your book at whatever price they wish, although most follow the suggested retail
price which you select. However, some retailers may choose to list the book higher
or lower than the suggested retail price, which is completely within their rights.
Regardless of what a retailer sells your book for, you will always receive the retail
royalty amount agreed to during the production of your book.
How do I know that I am being paid fairly for my book
sales?
You will be provided with a royalty statement showing book sales and royalty payment details each quarter. The statements are compiled and cross-examined by multiple parties to ensure an accurate record of royalty payments.
Both our printer and distributor employ independent auditing firms to verify the book sales data. Additionally, a globally recognized accounting firm conducts yearly audits of our finances to ensure accuracy. However, if you feel there has been an error in your royalty payment report, you can contact our customer support team to look in the matter more thoroughly.
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How can I track my book sales?
Book sales are reported on the quarterly statements distributed with royalty checks. Currently, the sales tracking portion of our site is under construction and does not reflect book sales mid-quarter. We will complete the sales tracking for our site in the near future.
Why does CraigsPress.com need my social security number?
We require your social security number to comply with the government's tax
regulations. Since you have the opportunity to earn additional income from book
sales, the government requires that you pay taxes on the total earnings. The W-9
form allows you to provide a Taxpayer Identification Number, or TIN. If you are
publishing your book under your own name or a pen name, your TIN is your Social
Security number. If you are publishing under a business name, or you want your royalty
check to be addressed to a business, you can enter your employer identification
number instead of your personal Social Security number.
If you do not supply your taxpayer ID number,
we are required to withhold taxes at the rate of 28% of total earnings.
If you supply us with your taxpayer ID at a later date, we cannot return the withheld
tax money because we do not retain the funds, which are passed on to the government
by law. You can speak to a tax professional about how to report this at the end
of the tax year in order to receive a tax return for any additional amount that
you are due.
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Will CraigsPress.com send me a 1099 to report additional income
from royalty payments?
If you earned $20.00 or more in royalties within a fiscal year, we will automatically
send you a 1099 statement. The 1099 reports your additional income in royalties
during the 1st, 2nd and 3rd quarter of the current year and the 4th quarter of the
previous year. It is the form you need to use to report taxes showing additional
earning or contractual work. If the total earned is less than $20.00, then the IRS
does not require you to report it, so we will not send you a 1099 form.
If you have further questions regarding reporting
taxes, please contact your tax professional.
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