A lot of people grow up with dreams of becoming an author, and many make it into a full time career, but how do authors earn a living? It’s a question that a lot of people ask before they begin writing their first book and rightly so. After all, you don’t want to spend hours of time developing a fantastic book only to receive nothing in return. There are a handful of ways authors earn a living, but royalties are the most important.
Earning Money as an Author via Royalties
One of the main ways authors earn a living is via royalties, which allows them to make money directly from the sales of their book. Royalties are small payments to an author for every copy of their book that is sold, and the amount is calculated on a percentage basis. The more books that are sold, the more money an author makes. This is why marketing a book is so important, as the number of copies sold directly affects how much money an author makes.
Traditionally published authors typically receive royalties of between 10% and 12% of the recommended retail price (RRP) per book. At Foreshore Publishing, we keep things equal by giving our authors royalties of 50% of each short fiction book that is sold. If you publish a book with us, you can always expect an equal share of royalties.
Other Ways Authors Earn a Living
For many authors, other than those who are fortunate enough to sell millions of copies of their books worldwide, finding a way to supplement their income from royalties is key. This is not unusual and the majority of short fiction writers do have other sources of income. If an author does not sell enough copies to earn a living from royalties alone they may host writing workshops, teach or speak at professional events. Some authors offer freelance writing services and others have another job entirely.
Earning money as an author is hugely dependent on you, your skills and the success of your book. Whereas some authors earn enough from royalties to focus on their writing, others rely on other means. Luckily, when you publish with Foreshore Publishing, you can enjoy high royalty rates and a hybrid publishing contract. To find out more about publishing a short fiction book with us, get in touch with our talented team.