In the pursuit of making our services better and more beneficial to our authors, we're writing to let you know that we are updating our terms of service and operational policies, and the new policies will go into effect on 13 December 2021. In order to make our policy clearer and more readable, here is a precise overview of the changes:
After months of toil, we have finally launched our new eBook store.
The biggest obstacle in the way of providing a delightful publishing experience was the lower rate of royalties which our distribution partners offer, the reason being their distribution fees, selling fees and commissions, etc. By having our own store, we eliminate all the intermediaries and thus save all the amount lost in paying their fees. This means highest ever royalty rates for our authors, not only on paper but practically.
What does "not only on paper but practically" mean?
Many eBook stores like Kindle offer 70% royalty but when we start selling we realise that there's more to it than what we thought it had. We realise that there are fees and charges to each sale and then we're paid 70% of what remains at the end. Also, these price rates change anytime accordingly with the ever-changing algorithms of the stores.
If you recall, this is what our publishing agreement read about royalties:
Point to be noted that MRP (selling price) of book and Royalty are not the same. MRP is the price at which the book is being sold, while the royalty is the profit that is received after the printing cost, seller fee, etc. are paid from the MRP amount.
Royalty rates and their impact.
As on 5 December 2021, we have published nearly 1900 books and only 34.7% of the authors among them have earned the return on their investments (which they made in publishing) through royalties, and 65.3% of them haven't earned back what they invested. If we eliminate the third-party commissions and increase the royalty rate by only 10% (which we are doing on our own store), calculation says that there would have been 82.5% authors who would have either made a healthy profit through the sales, or at least earned back what they invested.
But it is better late than never. Now that our own store is ready, we ensure an everlasting commitment of highest royalty rates - devoid of third-party fees and commissions, eliminating the vast difference between selling price and royalty to a large extent, with a vision to increase the percentage of profitable authors to 90% in the coming year.
We sell what you write. No judgements, no censoring guidelines.
As you know, in order to sell your books on our partner stores, we have to make sure your content meets their guidelines. This creates a case every now and then where many of our titles are not accepted by these stores either because of their length, language, content, or pricing structure, and sometimes our titles are even removed from these stores if they find anything "objectionable" related to a title. This has always added a bitterness to the publishing experience we want to serve to our authors. BookLeaf Publishing's bookstore means a non-judgemental, safe and an everlasting home to your book. With no censorship or picky guidelines, you'll never have to worry about your book being edited, changed or delisted without your permission.
A swift publishing process has always been a dream.
A publishing process that could have been completed within a couple of months at most, takes upto four and even five months for a lot of books because of the content reviews, listing procedures and feedback approvals we go through while sending the titles to the partner stores. Also, there's a waiting time of multiple weeks when we have to make any changes in a title or remove an eBook from any store. Having our own store means fastest ever listing, editing, delisting, and distribution processes.
If it isn't global, it isn't our cup of tea.
Our bookstore will be available to 140+ countries worldwide with multiple payment options at the checkout in order to ensure a seamless purchasing experience for your readers.
They're special. Make them feel special.
Discount has always been one of the most effective promotional strategies. BookLeaf Publishing's Bookstore comes with an efficient system of discounts and coupon generations. Have coupons made for your readers, or offer a discount on your book during festival seasons to get that required boost in sales.
Sales reporting and royalty payouts.
It is not always possible to get the sales data from our partner stores on a specific time. The time taken to obtain a sales report varies, depending on multiple factors like the volume of data, the processing time, and then compiling that data into understandable sheets. Most of our authors have complained about the complexity in the sales reports that we send them because after a struggle of obtaining the data from partners, the monthly deadline does not give us enough time to compile the sales reports in a manner which is understandable by someone who is not familiar with the operations of e-commerce and excel sheets. Thus for the third party stores, we are shifting to annual sales reporting, which will give us the required time frame to present the sales reports in a way that even someone who hasn’t seen an excel sheet before, or hasn’t worked in an e-commerce business, can not only read and understand their sales reports, but also strategise about how to increase their sales.
This won't be the case with BookLeaf Publishing's bookstore. We are starting with quarterly and half-yearly sales reports and royalty payouts, and most likely within the next 6-8 months we would have started the "on-demand sales reporting", which means that we'll be able to send the data anytime you ask for it.
The revered member in your own home, instead of an unwelcomed guest elsewhere.
Selling an eBook on BookLeaf Publishing Bookstore will make your eBook exclusive to it, which means that your eBook will not be sold elsewhere if you choose to sell via BookLeaf Publishing Bookstore. Almost all bookstores require this exclusivity in order to ensure the highest possible sales, but the author must choose the one which is worthiest of it. For example, Kindle provides 70% royalty to authors in India, Japan, Mexico, and Brazil only if they enrol in KDP Select. Which means if they sell their eBook on Kindle only, they will be provided 70% of the royalty, else they are paid 35% of the royalty. Now, giving the selling rights to only one store just for 70% royalty cannot be worth it, when someone - in this case, BookLeaf Publishing - is offering 100% of the royalty in return for the exclusivity.
Kindly note that if you choose to sell eBooks exclusively on BookLeaf Publishing's Bookstore, your paperback will still remain on Amazon. Only the eBook will be sold on our store exclusively.
We leave the decision up to you; whether you want commission-free high royalties, much better chances of return on investment, quick sales reporting, quick listing, quick changes and delisting processes, a fixed royalty rate unaffected by any ever-changing algorithms, an open and non-censoring platform, or if you want to continue with the current distribution structure where the sellers decide whether or how much your work is worth.
We request you to visit the link below in order to let us know how you want your eBook to be distributed:
Few of our books are temporarily unavailable on all the other platforms because we had to take them down in order to test their availability on our bookstore. If your book is also unavailable, it will be back on all the stores if you choose that on the link above. Else it will be live on BookLeaf Publishing's Bookstore within a couple of business days.