Money business – Indie vs. Trad.
Literary Agent Rachelle Gardner wrote a piece, “Will I have to pay back my advance?” As you know, this pertains to traditional publishing. Nowadays, I hear that small publishers or maybe even some medium-sized publishers don’t give out any advance. So, this wouldn’t apply to authors with these publishers. However, the big ones do.
In the article, she cautions authors to read the contract carefully. In today’s publishing climate, there might be more instances where authors would have to repay the publishers if the book is not selling well.
I read in the article that publishers spend around $50K in preparing a book for publication. Well, I didn’t spend nearly as much when I published my little novella.
Anyway, this got me thinking. Since I started this journey, I’ve been vacillating between the two publishing paths. I see many indies making a decent living being independent. Chances of me landing a contract with a big publisher are slim to none. For me, it’s being an indie or finding a small publisher. A decision for another day.