The making of my own cookbook

[gfron1]

So this is how it goes. Literally 5 hours until we pulled the proposal off the table, a known publisher made an offer. That's exciting and fun and all, but dollars and cents - I'm a bit more committed to the finances of self-publishing. But the publisher's husband is a chef and they eat/cook the way I do, so I guess it will depend on how much autonomy they give me and if they're willing to up their offer some. i'll post details, if appropriate, once things are ironed out.

[gfweb]

Rollercoaster.

[cyalexa]

Good luck! 

[gfron1]

I still can't post details, but I had a meet'n'greet with my agent and the publisher just now. They want the book to headline their Fall 16 lineup, and as such, we would have a much higher design than their average book. So now I'm waiting for my agent to give me the dollars and cents. We know the offer is low, but we have higher level of control and higher royalties than normal. Once I have the details, my team and I will crunch the numbers to see if we'd do better self-publishing or going through this imprint.

[gfron1]

I've been posting info for the learning of the group, and I think I'm safe posting these details with specifics blotted out. This is the summary of the deal from my agent:

 

-$## advance 

-$## photo budget, which would be paid half on signature of the contract and half on acceptance of all photographic work. This would NOT count toward the advance and Rob would not have to earn it back.

 

-Escalating royalties 

Hc: ##% net to 5,000; ##% net to 10,000; and ##% net thereafter

Pb: ##% net to 5,000 and ##% net thereafter

Eb: ##% net to 1,000; ##% net to 2,000; and ##% net thereafter

 

*NET means they subtract any costs on their side or any discounts to sellers and pay from the remaining balance, ie. what they actually got to keep themselves. So, for example, if Amazon buys books at 60% off the cover price, they pay you 10% net on that amount, not the actual list price. Most publishers are moving to a net royalty system.

 

Depending on the final decision about your book cover, we'd know which set of royalties they're going with. Typically, hardcover royalties are higher than paperback. If what we have will fall into the paperback category, I will ask for higher escalators after #### copies, if she is open to it.

 

I anticipate this is a world rights offer because typically it's difficult to sell translations of cookbooks, which are heavily designed, and this is best left in the hands of publishers to do. Are there any specific foreign markets you feel would have unusually high interest in the topic or your work (always good for me to know) There is more to be sorted with deal details, especially in the contracts phase, but this gives you a good sense of where they're going with it, particularly as you weigh your publishing options.

 

[IowaDee]

This is such an exciting journey. I love seeing the birth of a book from conception to delivery!  As a former librarian, I consider myself as a sort of a midwife who gets to share your "child" with book lovers.  Thanks for taking us on this trip!

[gfron1]

BTW, I have a call into my agent for the acronyms and one of you may know - PB is paperback and HC is hardcover, but what's EB? I assume its that cardboard cover that is often used that's heavier than paperback.

[Anna N]

BTW, I have a call into my agent for the acronyms and one of you may know - PB is paperback and HC is hardcover, but what's EB? I assume its that cardboard cover that is often used that's heavier than paperback.

Digital book?

[gfron1]

Confirmed, yes, it is an e-book.

[Kerry Beal]

I think those bigger ones are called Trade Paperbacks.

[Smithy]

It's interesting that they have a triple-tier arrangement for the hard cover and electronic, but not for paperback. Why would the digital copy have multiple scales for 'first 1000 copies' then another for '2000 copies' and yet another for any more than that? It isn't as though they have to keep resetting the printing presses.

In both the hardback and electronic copies there are scales like 'x net for 1000 copies and y net for 2000 copies' (percentages not specified here). Suppose the hard numbers are 10% of net profit for 1000 books sold and 5% net profit for 2000 books sold. Does that mean you get 10% on the first 1000 books sold and only 5% on the remainder? Or does it mean that once you pass the 1000-book mark your overall take goes down to 5% for the lot, so you'd only get 5% on a sale of 1900 copies?

The question goes the other way as well, of course; if the sliding scale goes up with number of copies sold that sounds promising for you. My question remains as to whether the take is based on blocks of 1000 (or whatever) or the total sold. My other question also stands as to why the sliding scale applies to electronic copies.

[teonzo]

If you look only about money, then it's almost impossible that this deal will give you a better perspective than the DIY route.

 

 

 

Teo

[Smithy]

It's interesting that they have a triple-tier arrangement for the hard cover and electronic, but not for paperback. Why would the digital copy have multiple scales for 'first 1000 copies' then another for '2000 copies' and yet another for any more than that? It isn't as though they have to keep resetting the printing presses.

In both the hardback and electronic copies there are scales like 'x net for 1000 copies and y net for 2000 copies' (percentages not specified here). Suppose the hard numbers are 10% of net profit for 1000 books sold and 5% net profit for 2000 books sold. Does that mean you get 10% on the first 1000 books sold and only 5% on the remainder? Or does it mean that once you pass the 1000-book mark your overall take goes down to 5% for the lot, so you'd only get 5% on a sale of 1900 copies?

The question goes the other way as well, of course; if the sliding scale goes up with number of copies sold that sounds promising for you. My question remains as to whether the take is based on blocks of 1000 (or whatever) or the total sold. My other question also stands as to why the sliding scale applies to electronic copies.

I should have read more carefully last night before posting. gfron1's post clearly says that the sliding scale escalates for more copies sold. That's great! I still wonder why it would be a triple-tier escalator for electronic books. Does anyone know?

[gfron1]

This is not an easy decision. I've crunched numbers. Financially speaking, selling 1000 books through the publisher equals selling 325 books self-published. 5000 publisher books is 625 self-published books.

 

So it goes back to my goals. Part of this was brand building for myself which I will only get with a publisher. Financially speaking it seems obvious except that you realize that I then carry the financial risk if the book doesn't sell.

 

Revenue & Risk v. Prestige & upfront money

[Lisa Shock]

How much marketing and PR will they realistically do for your book? If they can get more doors open, then it's worth it, IMO. If it's still up to you to do most of the work, I'd self publish.

[gfron1]

I'd have to do most of the work but it would be the headliner of their catalog and they would get it placed into B&N and such.

[gfweb]

How many headliners do they have? 

[gfron1]

How many headliners do they have? 

Just me and one other. The other is a Top Chef competitor and you all know the name, but not JBF or other such awards.

[Honkman]

I'd have to do most of the work but it would be the headliner of their catalog and they would get it placed into B&N and such.

Will the publisher support you (financially) to set up some kind of book tour (perhaps with one dish showcasing your approach)

[gfron1]

If I accept (which I think is going to happen in a few minutes here when I call my agent) then we have those types of discussions. They will be supporting with PR including booking events. I just don't know if there's a budget or how much.

[gfweb]

Just me and one other. The other is a Top Chef competitor and you all know the name, but not JBF or other such awards.

 

What season of TC?

[gfron1]

I'll hold off on that answer until I know I can talk about it. I did talk to my agent this morning with a few more questions and asked her to move forward with the contract negotiations. We'll see how long this takes.

[MelissaH]

At some point if the publisher decides to discontinue the book, would the rights to the recipes and essays revert to you, to use as you please?

[gfron1]

At some point if the publisher decides to discontinue the book, would the rights to the recipes and essays revert to you, to use as you please?

I guess I'll find out once the contract comes back to me. I love these questions - gives me specific things to look for that I hadn't considered.

[huiray]

The rights to the photos is another area that should be clarified - if they discontinue the book, or even as it stands.  Do they have the right to use the photos as they wish even if your photographer retains copyright? (Or has your photographer assigned the rights to you?)