Friday Links for October 9, 2009 (a day early)
Hi all! I'm going to be gone tomorrow, so I thought I'd post my Friday…
This week’s loop is all about pricing, sales, and breaking even. Sales may not have been as strong as I’d like them to be, but I have sold products so I’m not going to complain! That means there’s a market out there and I’m meeting the demands of a few people, which makes me happy.
Yes, I’m a small publisher and I’m not in this to get rich. Maybe a little famous in a small corner of the universe, but definitely not rich. But in the interests of full disclosure, let’s see where we’re at.
At this point, I have given away 236 copies of One Spot #0 for free, sold 7 copies of One Spot #1 and sold 4 copies of One Spot #2. We’ll round each sale off to about $1.00, so that amounts to $11 so far.
My biggest expense is art at this point. I have Bill Pfaff, Jason “Banditt” Adams, and Jason Cox helping out in that department and they’ve done a great job. But I’ve paid $55 in art for #0, $80 in art for #1, and $85 in art for #2. At $1 a pop it’s going to be a long time before I recoup my art costs, not to mention my writing, editing, and layout time.
At $0.03 a word (average rate in the industry) for writing, #0 cost $45 (1500 words), #1 cost $52.50 (1750 words), and #2 cost $51 (1700 words).
Then we look at editing, which runs about $10.00 per product.
Let’s look at total costs for each. #0 is $110, #1 is $117.50, and #2 is $146. Combined that’s $373.50.
To recoup my costs at $1.00 a pop, that’s 374 copies give or take. At roughly 1.5 sales per month (my average from March 2013 to October 10, 2013), that’s 249 months. Almost 21 years. Yeah, that’s going to take a while.
So I’m going to do a few things.
First, starting November 1, I’m changing the price of the One Spot line from $1.50 to $2.99. I will be updating the format over the next several months to include additional content and re-releasing each One Spot in the series as well as adding new products. All existing customers who have purchased a copy will get the new version as an upgrade for free.
Second, I’m creating two smaller product lines that will use stock art instead of original art. Little Spaces and LPC (License Plate Creations) Names products. These will sell for $1.00 each and should recoup their costs more quickly, aiding in recouping the costs of the One Spot line.
Consider this an early warning. If you’re looking at buying the One Spot series, please grab them before November 1 at the lower price. You’ll get two products for the price of one – the original 2 page version and the grander 4 page version when it’s ready.
Hopefully nobody is put off by this process. By changing the price of the One Spot series, I should begin recouping the art costs twice as fast which will help me create more and better products going forward.
Let me know what you think of all this – I definitely want to hear!