Profit margin dilemmas.
Last week I was invited to attend a Carers Reception and the monthly meeting of my local Huntington’s Disease Association Branch.
At the Reception, I felt obliged to give out for free a couple of copies of my book. One to an MP who was giving a speech about funding for carer respite, and one to the lady who kindly asked me to accompany her where she feels I have something to give to the issue as an ex-carer.
Many would say that surely a person currently caring for someone has more to say than me? Problem is this…The classic catch 22 situation. I’m only able to attend things these days because I am not a carer. When I was looking after someone I was trapped at home!
I have written off the material cost of freebies as being promotional but I am aware I need to be careful how far and wide I start handing out the freebies as this is, after all, supposed to be an eventual fundraiser. As soon as I recoup the self-publishing costs any profit goes to the HDA.
At the HDA Branch Meeting I promoted my book to not only try pushing sales but ask for feedback. I just hope the feedback comes back more positive than negative in the main and I am not asked to change many of my own observations. I will be getting the book re-printed later this year to take account of the lack of professional proof-reading in my haste to get hard copy, the last thing I need is spiralling costs if I change it radically.
For the HDA Meeting I only took 2 copies. I needed to flag up the Amazon site more and didn’t have many copies to bring anyway. However, I will be taking along more copies to the next meeting having been asked to do so. One of the Members asked the question whether there was more profit using the Amazon route (£6.95 + P&P) or buying from me at the discounted price of £5? The £5 has been an arbitrary figure set by me but I may need to tailor it to the event given no RRP is actually stated on the book. As long as I don’t go under £4.00 or over £6.95 I think it should be okay.
I had a number of copies of my book on order working out at £3.00 per copy (print costs based on 180 pages @ 1p per page and £1.20 paperback cover). With postage for 30 copies being £7.50 the costing at this stage comes out at £3.25 per book. That makes a profit of £1.75 per book whereas, having deducted distribution costs @ 40%, the profit from the Amazon sale works out roughly to £1.17. We shall see how it all equates once I get the sales figures but when I see the variety in prices quoted on Amazon by sellers, including one company selling on as ‘used’ I am a bit bemused as to whether I get 2 lots of royalties based on someone selling my book a second time?
Still… at least with using the print-on-demand option I am not having to deduct costs for a cleaner to dust off hundreds of books piled up until they sell lol.