So Many choices: three standard publishing models

I have always loved books. Of course I love to read them, but oddly enough, I just love the feeling of books. I love the smell of a freshly-printed book. I love the crack of the spine when you open them. I love the feeling of the pages as you flip through to the end. And, I love the business of books. I am lucky enough to be able to spend my days working with books, authors, and the amazing people who help to produce and support them.

When I speak to people about the business of books, I am often asked to describe the difference between self-publishing, hybrid, and traditional publishing models. Today I thought I would share this information with our blog-readers as well.

Self-publishing:

• Author finances 100% of the book production process and is responsible for finding a professional editor, designer, illustrator (if applicable), marketing representative, etc. on their own
• Author retains 100% of royalties from book sales
• Author retains rights for the book​

Potential Risks

• Errors: Self-published books are infamous for containing typos; some are never edited, while others are edited poorly.
• Unprofessional design or production: Just because a family member can draw an image for your cover (or edit your book) doesn’t mean they should. Truth be told, unprofessional design looks unprofessional and can hurt book sales. People will absolutely judge your book by its cover, so be sure to leave your design and illustration to the professionals.

Hybrid Publishing (the business model for Warren Publishing):

• A cross between traditional and self-publishing
• Requires a monetary investment from the author
• Authors retain 100% of the rights to their books
• Authors often have input into their editing, design, and marketing plans
• True hybrid publishers are selective in their manuscript review and selection process and do not accept every manuscript submitted. (We accept less than 20% of manuscripts submitted to us).
• Hybrid publishers ensure the final book is as polished and professional as possible.
• Royalties are typically split 50/50 between the author and publisher. (Our authors receive 50% for books sold through the retail angle, and 100% royalties from those sold through their personal inventory.)
• We often describe ourselves as “publishing partners” to our authors.

Traditional Publishing:

• Think of your big-five publishing houses, Random House, Simon and Schuster, etc.
• Most traditional publishers require a formal submission from a literary agent who typically takes a percentage of your advance and sometimes a cut of your royalties as well.
• Traditional publishers own the rights to your book.
• Traditional publishers may or may not offer an advance payment to the author. If they do, advances are typically only a few thousand dollars at most.
• Authors capture less than 5% of royalties from book sales.
• Traditional publishers control all aspects of editing, marketing, and design.
• Traditionally published books may be in more bookstores, however, this doesn’t mean they will sell more. Due to limited budgets, traditional publishers often now require authors to market their own books.

In short, there is a publishing model for every author. What is your option?