After you receive your book and are happy with it, go to your Project List and click Approve/Deny Book next to the title. This displays the Approve Book page. In the Retail Pricing & Royalty section, click Edit to set the retail price. The Retail Pricing & Royalty section has a real-time calculator to help you work through the retail price and royalty combinations. When it is first displayed, the amount in the Retail Print field is the minimum retail price for the book. At a minimum, the wholesale price (retail price / 2) must be enough to cover the production cost of publishing the book, your royalty, and the Lulu commission:
Minimum wholesale price = Production cost + Royalty + Lulu commission
It is probably easiest to set the retail price and let Lulu calculate your maximum royalty. Using our $20 retail price, the wholesale is automatically $10. $10 minus production costs = what's left over for your royalty and the Lulu commission. The calculator maximizes this. You can
- Enter a Retail Print price and Lulu calculates your royalty and the Lulu commission.
- Enter a royalty amount and Lulu calculates the retail price and the Lulu commission.
- Enter $0 in the Your Royalty field to reset the price back to the minimum.
IMPORTANT: The retail price is a suggested retail price. You have the option of pricing your book even higher, which will allow for greater profits, and greater royalties. However, if the book is overpriced or "priced out of market," it may not sell as many copies as it would at a lower price. Would you like to see an example?
Retail Price Calculator
