What's the right price for an ebook?

I received this message about the price of a recent release when I offered a $0.99 sale on a different, older book:

“I’d buy (newest book) outright if you brought down the price.”

I followed up and said since it wasn’t in their budget right now to look out in future newsletters for when the new book they wanted was on sale for $0.99 and I thanked them for being a subscriber. They replied with the implication that I make the book free on a fanfic site.

I used to do that. I loved it and met wonderful people through the process. But the books I charge money for today are a different quality from what I put up for free over ten years ago. And the way I find readers today isn’t the same, either. There’s a cost to indie authors for doing business, so I thought I’d share a few costs you might not know about.

Before we start, this is not a complaint about my costs in putting out a book. I'm a business and have expenses. I want to put out a product I’m proud of and I want to reach readers. That has a cost, and it's one I’m willing to pay. I’m explaining, not complaining.

I haven’t raised the price of a new release in five years of publishing. But the cost of, like, everything has gone up since 2021. And after a book has been out 18-24 months, I lower the price. I run a sale on backlist titles about every quarter. I often make a book free for group promotions or for my newsletter subscribers.

But that new release price is a competitive one for the quality and length of book you can expect from me—and other writers at about the same price point.

So what are the costs for me to stay open? Do you like my newsletter, where I do giveaways, share excerpts, offer sales, tell you first about new books, talk about my writing process, Regency-related stuff, and whatever else I think of so we can hang out? That service costs $400 a year.

Along with that, I have a website so you know I’m real and can get in touch with me. It's how you're reading this article. Social proof matters, especially in a world of AI “authors”. And people can read my blog, learn about the books, and see what’s new. The website, domain, and email is about $250 a year.

Want to click on a free story on my website or win a free eBook from me? Want that short story you expected when you signed up for my newsletter? ARC team wants a smooth process for getting review copies? I have a service to deliver those books to you and answer your tech questions if need be. That's $250 a year.

Let’s talk about the books themselves, though. Maybe you don’t care about newsletters and book delivery and reputable websites. Honestly, I don't blame you.

The great thing about self-publishing is that there are no barriers to entry. Zero. You can write a book on any word processing software, use Amazon’s products to format it and make a free cover, and publish it after you type The End. This is awesome! Anyone can publish today and we’re lucky this is available to us.

One can also put out a book that’s gone through extensive editing, has easy to read formatting, and a genre-appropriate cover that catches the eye. A book with a description that describes the plot and a plot that doesn’t have plot holes. I feel this product is higher quality and deserves its higher price. And the market tells me it’s a price point my readers in this genre will tolerate. But it’s also because more money and effort goes into making that book.

This is a business, after all, and I still have to buy eggs.

So here are the big ticket costs for me per book:

• Developmental edit (big picture plot and character stuff) with a line edit (sentence level word choice and clarity) $14.00 per 1,000 words

• Proofreading (spelling, punctuation, grammar, continuity) $5.00 per 1,000 words

• Custom cover (eBook and paperback) $450

My books are about 90,000-110,000 words. These talented people are well worth the money and I wouldn’t put out a book without them. No, really. If I can’t get on their schedules, the book will just come out later. So without accounting for those ongoing costs of keeping an author business open, each book costs me over $2,000.

And let's remember that those professionals need to buy eggs too, and their costs continue to go up.

Yes, it's expensive. Maybe for your first book you don't pay for all of that and you get some poor reviews as a result, but you made some money—and for your next book you can afford a proofreader. Next book still has editing issues, still has reviews that comment on it, but it's better, you make more money. Your backlist makes a little more money too. So by book three you can afford a developmental editor and a proofreader. See how it goes?

Back to me: Do those upfront costs mean I have to sell 375 books to break even if a new book is $5.99? No, because Amazon takes a cut for being the bookseller for me. (Which, at this point in my life with my current time and energy, is what I want). I make about $4.00 for that eBook. So I need to sell 500 copies to break even.

But realistically, it’s WAY more than that and takes longer since most JAFF readers exclusively use Kindle Unlimited. In KU, I earn about $.004 per page. That's right. For a 300 page book, I make a little over a dollar—if you read to the end.

Remember, I know these costs are worth it. If you borrow in KU, I love that! Regardless of how you read it, I wouldn’t put out a book that wasn’t edited or had an excellent cover and a good description. I want to release the sort of quality book you’d expect from a professional. Because that's what I am.

And while everyone’s threshold is different, I think the skill, uniqueness, and storytelling I bring is worth the price I charge. There’s no AI on the covers or in the content. Not for outlining or brainstorming or sentence level changes or anything. If you like historical accuracy, I do my best to make an entertaining story that is believably regency. My time and effort has cost factored in.

But it's also what the market tells me I can charge. It's not a matter of me saying "charge what I'm worth." But there is a perceived value, the budget of my typical reader, and the JAFF market as a whole to consider.

This is art, and it’s also my business.

So you won’t find my books on fanfic sites. You’ll find them for sale, and for a price the market tells me is a fair one. And, hey, if it’s not at the right price for you right now, join my newsletter so you know when I make a book free or put it on sale for $0.99.

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