It’s no secret that writing a business book can be lucrative. But how much should you be paid for such a book? Is there a set figure that you should charge, or are you worth more based on the size of the audience you’re targeting? To find out, we analyzed several years of data to come up with a ballpark figure for how much you should be paid to write a book.
The Findings
We started by looking at the sales of books by well-known authors. Using Author Earnings from the Association of American Publishers (AAP), we were able to compile a list of bestselling business books from 2012 to 2018. The analysis was limited to only the most recent six years because less than half of the publishers participating in AAP have data prior to 2012.
From our analysis, it appears that the price of a business book has remained relatively stable in recent years, hovering around $15-$20 for a 550 to 650 page hardcover. While individual prices vary, as you would expect, the general trend is for books to be fairly priced.
Now, it’s important to note that we’re not talking about self-published books here. These are traditionally published business books that were sold through retailers like Barnes & Noble and Waterstones Booksellers Group. If you’re a bestselling author who chooses to go the self-publishing route, you can set your own price for your book. But in cases like these, the industry standard is that the retail price is the same as the discounted price offered to consumers in order to promote the sale of the book. In other words, if you’re using a royalty-free book template, the cost to the consumer is usually around $0. This is one of the primary reasons why the price of a business book hasn’t changed that much in recent years. Self-published books that are made available through major retailers like Amazon often sell for around $15-$20 because this is the average cost of a new hardcover book. After you factor in the cost of the print run, Amazon’s commission, and other expenses, a self-published book can be expected to earn around $5-$10 per month.
The Role of Technology
While the price of a business book hasn’t changed that much in recent years, the types of books that are bestsellers change constantly. Thanks to technology, it’s much easier for authors to publish and distribute their books to a wider audience. In addition to being able to write the book itself, you can use tools like Kindle Direct Publishing to get your book into stores more easily and to increase the odds of being found by potential readers. And when you’re found by readers, you can boost your book’s sales through platforms like BookBub and CreateSpace.
If you’re serious about publishing a business book, it’s important to remember that not all of them are created equal. There are more sophisticated platforms that you can use for your particular niche that can help you get the most from your book project. That being said, with just a little know-how, you can still manage to publish a book that will make you some decent money.
The Changing Trend of Business Books
Looking at the data from a longer time frame, we were able to see if there has been any kind of movement in the business book market. What we found was that between 2012 and 2018, the total sales of business books increased by 41%. However, when you break it down to specific genres, you see that this increase was mainly driven by fantasy & science fiction books which saw the biggest increases. It’s important to point out that these books have traditionally high demand, and this is what has caused the increase in sales. But now that more people are choosing to write books, it appears that there is now a larger pool of potential customers.
Also interesting is that the genres with the greatest increase in sales are the ones with the highest royalty rates. It seems that as more people are learning to write books, and as businesses realize the value of having a trained workforce, the demand for books in these genres is increasing. This could mean that in the future, authors in these genres could get paid more to write a book.
What Does This Mean For You As A Writer?
If you’re looking to write a business book, you need to understand which ones will be most profitable and how you should go about structuring your book’s content to maximixze your earnings potential. Since the price of a business book hasn’t changed that much in recent years, it seems like a good idea to look into the types of books that are currently selling well and try to fit into the same vein. It’s a safe bet that if you can write a successful fantasy or science fiction book, you can easily find a publisher interested in your other work. The chances of a book deal are much greater if you have a completed manuscript and a successful track record. The business world is changing, and as more people choose to write, the demand for business books will continue to increase.