Do Self-Published Authors Make Money

We often get asked, “Do self-published authors make any money?”

Let’s not beat around the bush. Is it possible? Yes. Is it likely? No. 

Going it alone without marketing, editing, and design assistance is a risky move, one that many authors come to regret

There’s a reason there are so many self-published authors out there: It’s easy and cheap. Through self-publishing, you also maintain creative control over your work and receive a larger percentage of the profits. Sounds great, but we strongly advise you against taking this seemingly perfect option. Let’s talk about why. 

According to the NY Times, the majority of self-published books won’t surpass 150 sales…ever. When you think about it, it makes sense. Due to the accessibility of Amazon Self-Publishing, thousands of authors self-publish each year. Even if you know your book is well-written and that there’s a large market for it, for readers, finding your book can be like looking for a needle in an Everest-sized haystack. 

But who knows, maybe you’re the next E.L. James (author of the 50 Shades of Grey series). Through self-publishing, she managed to turn her Twilight fanfiction into an erotic romance series that sold millions of copies. Were her humble beginnings a bit unorthodox? Sure. But now she's a worldwide bestselling author.

On that note, let's get into the nitty gritty. What are the benefits and drawbacks of self-publishing? And most importantly, will you make any money?

Self-Publishing: A Double-Edged Sword

The bright side of self-publishing is it gives everyone the capability to publish their work. The dark side of this is that readers have to sift through thousands and thousands of books to find something they might purchase, making it harder for you to make any sales.

There is a large market for eBooks, and if you like the weight and feel of a book in your hand, self-publishing also gives you the option of printing your work in hardcover and paperback. According to Statista, print is still the most favored book format for American consumers. Whether you’d like to publish an eBook or a print book, the decision is yours.

That is the heart of self-publishing: freedom. Through self-publishing, you can control the rights to your book, set the sales price, and maintain full creative freedom – from cover to content. 

One of the most popular self-publishing platforms is Amazon’s Kindle Direct Publishing (KDP). You maintain control of your creative rights, and your book can hit Kindle stores within a day or two. You can learn more about their services here.

There are dozens of similar services, however, such as Smashwords and Ingram Spark, all with their own benefits and caveats.

Additionally, self-published authors can expect to see their books hit the market in a matter of days. With self-publishing, you don’t need to pay 15% of your royalties to a book agent, which saves you a significant amount of money. Your expenses total to the cost of your Amazon account and what you pay to any freelance editors or designers you hire. Self-published authors also receive higher royalty rates than if they were to go through traditional publishers; for all the hard work you put in, you get more money out of it. But that doesn’t necessarily mean you’ll be raking in the big bucks. 

Though self-publishing offers you freedom and flexibility, the pressure is all on you.

Before you begin, you have to assess your capabilities and finances. Do you have the time, energy, and knowledge to market your book? Do you have the resources and contacts necessary to build an audience that will actually purchase what you print? 

If you’ve replied yes to the questions above, answer this: How many self-published books do you buy? Be honest. If you aren't buying them, then why do you think someone else would suddenly purchase your book?

Writing the damn thing is only part of the battle. If you want to make any money, you’ve got to be prepared to market the hell out of your book. Without the help of a publishing company that’s well-versed in branding and marketing, this can be incredibly difficult. Though you could attempt to hire independent contractors to assist in these areas, this process can be tedious and expensive. You can also search out websites that offer a la carte services (including packages such as layout design and editing), but this can also be costly, and oftentimes it’s difficult to distinguish which services are legit and which are just going to waste your money. 

If you’re a type A control freak, self-publishing could be the perfect option for you because you maintain full creative freedom and higher royalty rates, all while having your book hit the market in a matter of days. But again, it’ll only be perfect if your goals are not about making money or establishing yourself as a professional author. Because remember what’s missing. Where is the marketing, the advertising, the visibility, and the social proof? In other words: How will people know about your book? 

Say you make 100 sales on your Amazon Kindle eBook. You may retain 70% of the royalties, but you’re only receiving money from those 100 sales. Forever.

If you’re publishing simply for the bragging rights and to see your name listed on the Kindle eBooks site, self-publishing could work well for you. But if you want to become the next James Patterson or Margaret Atwood, it would be wise to explore other options. 

For example, Biron Clark published a book through Amazon Self-Publishing and was pleasantly surprised at how easy and cheap the process was. Unfortunately, the pay-out for all his hard work was more than disappointing. That’s the kicker: Many authors before you have tried and failed at self-publishing. You may think you’re that special one-in-a-million (like E.L. James, whom we mentioned above), but ultimately, the odds are stacked against you.

The Silver Lining: Publishing is Still Possible ​

There are a variety of possibilities available besides self-publishing. You could pursue working with traditional publishing companies or hybrid publishing companies.

With traditional publishing houses (such as Simon & Schuster or HarperCollins), a literary agent has to pitch your manuscript to the company (smaller publishing houses often accept submissions without agent representation). It’s pretty rare to see a manuscript get accepted due to the sheer amount of material publishing houses receive from potential authors. The large majority of submissions are ignored. 

Overall, being published through a traditional publishing company offers you and your book credibility in a way that self-publishing simply does not. If you want your manuscript to be picked up by a publishing house, we guarantee you’ll be pouring your blood, sweat, and tears into the process. You must prove your work worthy to book agents and industry experts, and if you succeed, your book is stamped with their seal of approval. 

If you are one of the lucky ones, there are a myriad of benefits to publishing through a traditional publishing house. They are the best method for getting your book into a brick and mortar store, such as Barnes and Noble. Additionally, your book will be professionally edited, and it will be fine-tuned by an expert group of editors and designers. 

Unfortunately, marketing with a traditional publishing company is not that simple. For the most part, unless you already have a large audience, the publishing house won’t do much to market your book. You will still have to advertise it yourself if you want to see it climb the best sellers list.

It’s important to remember that using a traditional publishing house means that they will usually offer you lower royalty rates, which means less money from sales for you. They also tend to take their sweet, sweet time publishing your book. You may not hold a physical copy in your hands for a few years. 

Oftentimes, first-time authors who’d like to publish their books believe that traditional publishing houses are the only option available to them if they want to become well-known authors. That’s simply not true. 

Hybrid publishing is a wonderful option for authors who want the best of both worlds: the expertise of a traditional publishing house and the freedom and flexibility of self-publishing. Hybrid publishing companies can assist you with the intricacies of production and distribution, while also providing you with extensive editing and marketing support. But watch out for vanity presses. They are not hybrid publishers; they take advantage of authors by taking royalties while still overcharging. They typically produce a low-quality product and don’t appreciate authors or their hard work. No matter what, you should thoroughly vet any publisher you’re considering working with.

You can compare hybrid publishing to getting your car worked on. You put the car together yourself, but you pay someone to rotate the tires and check under the hood because you don’t have the knowledge to do it yourself. Once the mechanic is finished, the car is yours. You just paid someone else to help improve it. 

Hybrid publishing does require authors to invest their own money in the process. But if the company’s worth their salt, they won’t publish a book they don’t believe will generate sales.

Self-Publish at Your Own Risk

In a perfect world, you’d self-publish with little to no difficulty, skyrocket to the top of the Amazon best sellers list, and retire a few years early as a wealthy and successful author. 

That is the dream, but this is the reality: The likelihood of you making any significant money through self-publishing is slim. 

Some authors may only publish their work for legacy purposes so that their family and friends can read their work.

Even if that isn’t you, it’s possible that the pride of being a published author is enough to soothe the sting of selling only 10 copies of your book. But even if money isn't the priority for you, remember that people will only know you are an author if they read your book.

No matter what choice you make in terms of publishing, Holon is here to help. We are a professional publishing services agency, and we can provide you with marketing, design, editing, and branding support to ensure that your work reaches audiences across the globe. Reach out to requests@holon.co to learn what we can do for you.