How do I set the retail price of my book?

by on ‎01-13-2011 01:03 - edited on ‎08-29-2014 04:38 by Community Moderator Community Moderator (48,223 Views)

Print Books

You will set the retail price of your book in the publishing wizard. If your book includes an ISBN, the displayed price will include the minimum retail markup (production cost x 2). The pricing step includes a real-time calculator to help you work through the retail price and royalty combinations. When first displayed, the amount in the Retail Print field is the minimum retail price for the book. The minimum retail 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?

 

Once your Book is published, you can view and edit your retail pricing. Go to My Projects and click on the project title. Scroll to the Pricing and Creator Revenues section and click Edit to adjust your retail pricing.

 

eBooks

Once you have uploaded your eBook, created the marketing image, and entered your book's details, you must decide on its price. You do this in the eBook creation wizard by simply entering a price and choosing the retail sites on which you would like to sell your book. Our retail price calculator allows you to offer your eBook for free or any price above $0.99.

 

Note: If you deselect Lulu from the distribution list, your book will be published in Private Access. It will not be displayed in the Lulu bookstore and will not be returned in search results.

 

Some retailers, such as the Apple iBookstore, require prices to end in .99. If you choose the iBookstore as a retail distribution option, we will automatically adjust your price to the nearest acceptable price based on Apple's pricing tiers for each currency. To view these pricing tiers, see our Apple iBookstore retail price calculator.

 

You may notice that your revenue amounts change based on the retail sites you select to distribute your book. That is because some retailers (Lulu, Apple, and Barnes & Noble) act as sales agents meaning they sell your eBook at the price you set then take a commission based on that price. Other retailers (Amazon, Kobo) operate as resellers. This means they pay the wholesale price to a distributor when your eBook sells. Since these retailers are buying your book from a middle man at a set price, they can resell your eBook at any price they like, including a discounted price. Under the reseller model you will always make the same revenue as displayed in the retail pricing step for each book sold by that retailer, regardless of the sale price.

 

Once your eBook is published, you can view and edit your eBook's retail pricing and distribution options from the My Projects > Manage button.

 

IMPORTANT NOTE: When you select Kobo and/or Kindle distribution, Barnes & Noble converts to the reseller revenue model.

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