Publishing is an industry that is difficult to break into for professionals who want to be part of this world and outsiders who have contracts with publishers, such as authors. Though authors are arguably the most important part of the book-making process, many writers ignore the details of how their manuscripts will be published.
To help all writers in this article, we will list the top 5 questions to ask your publisher before signing a contract. Keep in mind an offer from the Big 5, compared to an Indie Publisher, could be quite different, considering smaller houses might have a smaller budget.
Top 5 questions to ask your publisher before signing a contract
1. What type of publishing contract am I being offered?
In the industry, there are four types of publishing contracts:
- Traditional: The publisher covers all costs, and the writer receives an Advance as well as Royalties.
- Hybrid: This is also referred to as a digital-first contract. In this offer, the writer will not receive an Advance, but the Royalties will be higher.
- Work-for-hire: Authors agree to sell their work for a flat fee, and they won’t have a copyright over this.
- Services: Vanity publishers often use this contract, and in this agreement, the author will have to pay for all the costs. Plus, they will have to surrender many rights.
2. How much control do you have over the story? Is there anything they would like to change?
Even though we will talk about advances and Royalties later, now we will address a vital part of the process of the story. Authors must protect the manuscript they have created and their vision. Majority of the time, the literary agent will ask for some creative-control clauses. When publishing without an agent, ask your publisher for their vision and if they plan on altering key plot points.
3. What is my timeline to complete the manuscript?
Here, there are two scenarios that authors need to consider. If you are writing a non-fiction book, most publishers will accept a table of contents or the idea of the first few chapters before offering a contract. In this case, ensure they give you a timeline to complete the manuscript and that this is doable.
For non-fiction books, this is not possible; the manuscript will have to be finalized first before the literary agent sends it to any publishing house.
4. How much is the Advance and the Royalties?
The Advance will depend on your type of publisher. For instance, the Big 5 usually offer a large amount, while indie houses can give you anywhere between $1000-$10,000. Your Advance will be calculated using a P&L, which includes the most important numbers of the project, such as the projected printed copies. Note the publishers never disclose their P&L with the authors.
Royalties are a percentage that the author receives for book sales; the standard is 15%, but this will depend on the P&L. It is vital to understand the Advance is considered a prepayment for future Royalties. In other words, the author only receives Royalties once the book sales surpass the Advance amount.
5. In which format will the book be released? Is there a release date?
The Big 5 release important books in all formats, which means hardcover, ebook and audio. Then, they will wait 1 to 2 years before printing a paperback. Other titles could be published digitally first before printing any physical copies. Confirm this detail with your publisher.
When it comes to the release date, there are three main publishing seasons you need to be aware of: Spring, Fall and Winter. To learn more about this, read our latest blog.
Even though in this article, we have covered the 5 main questions to ask your publisher before signing a contract, we recommend you read this blog in which Jane Friedman breaks down other important questions writers should address before accepting their offer.