A lot of authors ask me about the wholesale discount on this channel, in my coaching calls, and on author forums so today I’m going to walk you through an exercise to help you determine what this should be and show you how to do it.
For starters, what is a wholesale discount? So, in general, think of your grocery store. You go in and want to buy an apple. The store charges you $1. Well, the grocery store didn’t pay $1 for that apple, they paid $0.50. Immediately, you think, that’s not fair! Well of course it isn’t. But the grocery store needs to pay for not just the apple, but the lights, the AC they pump to keep all the food fresh and cool, and all the clerks. The store needs to make money on the transaction. In this example, the retailer discount was 50% or half of the retail price.
Bookstores work the same way. They need to at least make money on each sale in order to keep the lights on. So they need to receive a discount from the publisher (and when you’re self-publishing, that’s you) in order to make money. Booksellers will be able to do a quick calculation based on the book retail price and the wholesale discount and figure out if it is a good buy for the store.
Now, the question of how to set your wholesale discount applies for your print books. Your eBook platforms aren’t offering you a chance to adjust your royalty rate in most cases. Since the wholesale discount impacts your print books, you need to know that after you cover the print cost and the wholesale discount that the retail price you set has you in the positive.
For those of you who have only ever published with Amazon KDP you may be scratching your head, where do I do this? Here’s the thing, on Amazon KDP you can’t set a wholesale discount for your print books. So if you want to get your book into brick-and-mortar bookstores you can’t get there from KDP.
But, this is one of the unique advantages to publishing with IngramSpark.
So here are the questions you need to ask yourself;
-Do you plan to publish in print? No – dont’ worry about the discount
-Do you plan to execute a brick-and-mortar strategy? No – set it at the minimum
-Do you know your planned retail price and the print cost for your book? Check out the calculator IngramSpark has on their website (I have the link below)
Make more sense now?
I talk about this and more in my latest book: Going Wide: Self-Publishing Your Books Outside The Amazon Ecosystem which you can order anywhere great books are sold (and the library too!)
Any more questions? Drop them below and we’ll keep the conversation going.
Going Wide Pre-Order Link: https://1mkwilliams.com/going-wide/
IngramSpark Price Calculator: https://myaccount.ingramspark.com/Portal/Tools/PubCompCalculator
Music from: https://www.bensound.com/ E.R.F.
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