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The Big Business of Small Presses

By Robyn Short

More and more authors and leading industry experts are turning to self-publishing as a viable and lucrative option to publishing their novels and nonfiction books. What initially started as an alternative for authors who could not find an agent has turned into a well respected, and usually first choice, option for many writers. However, like any new product, publishers cannot just build “it” and expect buyers to come. Publishing is no field of dreams—whether you are HarperCollins or PeyBro Books.

Ask any entrepreneur (yes, self-publishing is entrepreneurial), what is the most challenging aspect of entrepreneurship? I guarantee you she will not say, “Product development.” The challenge of self-publishing is not in writing the book—that is actually the easy part. The challenge is selling the book. Self-publishers who accept this fact before writing their masterpiece are way ahead of the game. And those who don’t? Well, they usually end up frustrated and broke with a garage full of books.

While the large publishing houses will never go away, the publishing industry of the future will continue to be comprised of an ever-growing body of self-publishers and small presses. If you are considering joining the ranks of the brave writers who have enough belief in their book, and themselves, to launch a new company (i.e., a publishing imprint), then you must hone your business savvy along with your grammatical prowess. And, while you are at it, plan to let loose of some cash.

First and foremost, you need a national distributor. Want media attention? You better be in the national bookstore chains. To get there, you must have a national distributor. Period. And no distributor will look at a self-publisher without a solid publicity plan. Distributors make their money on sales; they expect their clients to ensure they will receive the sales support they need to make that happen. There is a symbiotic relationship between the PR arm and the distributing arm of your book … you can’t have one without the other. And you can’t have either without the available cash to pay for both. Too often, this is where self-publishers fall short.

A standard book publicity campaign will cost no less than $12,000 and that does not include your Web site, press kit, promotional material, postage, printing, travel, fulfillment fees, re-stocking fees, accounting costs, and all the other essentials of running a business. Self-publishing is big business. If you want to make money on your book, you must invest the money on the front end. If you are not willing or able to do that, then take up writing as a hobby not a business. But if you are willing and able, then get ready for some rewarding hard work.

Another fact that self-publishers must get comfortable with is that they will need to sell about 4,000 to 5,000 books (a standard first print run) to make their money back. Like all small businesses, profit rarely comes the first year. When it does, it is the exception not the rule. The second (third, fourth, fifth, etc.) print run is payday. And it can be a very rewarding payday.

Industry experts who have written books understand that a book is a powerful marketing vehicle for their primary service. The book positions the professional as “The Expert” in her industry. Books open doors and opportunities that otherwise would not have been available. Books provide prestige and respect. And when marketed properly, books are lucrative revenue generating vehicles.

Launching a small press is big business. Potential self-publishers who understand and embrace this prior to making their entrepreneurial debut are far more likely to harvest the financial fruits of their labor.

Robyn Short is the founder and CEO of goodmedia communications, llc, a creative communications and publicity boutique offering all forms of media communications to assist clients in developing and managing their products and brand.