If you’re sick of your day job, writing books offers the perfect escape. You can write anywhere.
The start-up costs, compared to other home businesses, are zero, as I wrote to a reader last week who asked: “How much does it cost to have a book published?”
He was a little confused: you don’t pay anyone. Publishers pay you to publish your book.
Yes, there’s a process called Print On Demand (POD) if you choose to self-publish, but in book publishing the publisher pays the writer an advance on royalties.
Publishers pay you, often before you write a book
Publishers pay you for the rights to publish your book. This initial payment, which is usually made before the book is written in the case of nonfiction, is called an advance, because it’s an advance on the royalties you’re paid.
You’re paid royalties, because you don’t sell your book, you’re licensing the rights to publish the book. The copyright remains with you, and transfers to your heirs on your demise.
So the publisher licenses the rights for a period of time which is described in your book publishing contract. If the publisher stops publishing the book – that is, if the book goes out of print and is no longer available in book stores – the rights transfer back to you.
Want the perfect home business? Write a book.
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