There are two main types of people looking for an answer to the question: how much money can you make from writing a book?
The first type of person thinks writing and self-publishing books is a get-rich-quick-scheme and is willing to buy the idea of ‘publishing a book without writing’ to make a lot of money. If you’re a member of this group, this article will not answer your question.
The second type wants to make a living writing books and is curious about how much money he or she can make from writing a book. If you’re a member of this group, welcome. I hope this article can adequately answer your question.
First things first, a little disclaimer. I will not be giving figures in this article because like I said previously in this article about how much money you can make from writing a book on Amazon, how much money an author makes from writing a book depends on the type of books they write (fiction or non-fiction), their audience and the author themselves.
So if I’m not giving exact figures, what will I be talking about in this article? I will be showing you the streams of income that can open up from writing a book. In this article, you’ll learn of different ways an author can make money after writing a book or a number of books. You will also get indirect answers to questions like:
- How much can I earn by writing a book?
- How much do Authors make per book?
- How do Authors make money writing books?
- How much money do book writers make?
How much money can you make from writing a book
A: You can make money WITH THE BOOK ITSELF
1. Royalties
Whether you’re a self-published or traditionally-published author, the first way you will make money from writing a book is from royalties.
Self-published authors can earn between 70-100% of the income of their ebooks priced between $2.99 and $9.99 by self-publishing on book stores like Amazon KDP/Kobo (70%) or distributing via their own website or self-made stores like Payhip (90-100%).
Traditionally Published Authors, on the other hand, might expect to get an advance of $1000-$5000 for first-time authors and $5000-$10000 for an established author. This is followed by a possible 5-15% royalties on print books and 25% royalties on ebooks IF they earn out their advance.
For authors signed to Small Presses, they can earn between $1000-$2000 advance and IF they earn out their advances, they earn 25-50% royalties on ebooks and 20-30% royalties on print books.
You can find out more with this Reedsy Article that explains royalties better or this article about making money with your book on Amazon.
2. Selling Signed Copies
Many authors also make money from writing a book by selling signed copies of their Paperbacks and Hardcovers on their websites or with book signings.
OR by selling Author-signed bookplates which are simply stickers made from your Author signature.
3. Serial Fiction
Something that is becoming very popular in the fiction world is serial fiction.
Here’s how it works. People read books published chapter by chapter or episode by episode on sites like Wattpad, Inkitt, and Archive of Our Own for free. But some people are willing to pay to read on serial fiction websites and apps like Kindle Vella, Radish, Ireader, Goodnovel, NovelCat, etc
The average royalties that non-exclusive serial fiction authors earn is between 10-30% while exclusive serial fiction authors earn up to 50%.
Frankly, I will only recommend one company if you want to try making money with Serial Fiction: Amazon Kindle Vella. Unfortunately, it’s exclusive to US citizens.
I’ve heard Radish can be good but I don’t have experience with them so I’d also treat them with kid gloves if I were you.
I think Wattpad is also working on a Creators Program which could be profitable but remember you will have to be exclusive to Wattpad for that.
The other serial fiction companies from Asian countries like Singapore and China are just looking to exploit authors and grab as many rights as possible as far as I am concerned. I’m saying this based on the contracts that companies such as Goodnovel, Novelcat, Ireader, etc present to authors to sign.
I’ve seen those contracts and the rights they rip off authors is worth thousands of dollars to a professional author. Yet, most authors that work with these Serial Fiction companies don’t even make up to three figures for a book.
If you’re thinking of dipping your toes in the serial fiction market, please:
- Get a lawyer
- Google the company for other people’s experiences with them (be careful and don’t trust every comment or info you see out there, these companies have agents)
- Use the Writer Beware blog
- Search on Reddit or Quora and read every single opinion carefully because there are agents lurking everywhere.
- Ask in Writer groups on Facebook and find the Serial Fiction groups where people with experience with these companies dwell.
- Become a member of the Alliance of Independent Authors (ALLi) (I’ve heard that they have a team of lawyers you can submit contracts to so they can help you take a look at those contracts). Remember that joining ALLi will cost you money and do your research before you do too.
4. Book Merchandise
You can make money from writing a book by selling T-shirts, coffee mugs, and other items with animated characters or phrases from the book on your website or via sites like Redbubble, Amazon merch, CafePress, or Zazzle.
5. Crowdfunding
Some Authors, especially newbie or aspiring authors who write on sites like Inkitt, Archive of Our Own (A03), Wattpad, a free WordPress Blog (harder to get noticed), and even Patreon, etc make money with Crowdfunding.
How does this work? While writing books and publishing them for free, you can ask your readers to buy you a coffee or reward you via sites like Buy Me a Coffee, Kofi, and Patreon.
6. Selling Movie and TV Adaptation Rights
An author can make money from writing a book by selling the movie or TV adaptation rights.
In my humble opinion, this doesn’t happen to the average author. It happens to outliers like Stephen King, J. K. Rowling, Stephenie Meyer, etc.
Many times, books get optioned but don’t end up becoming adapted to movies, TV shows, or animations.
So I will advise you to keep your mind off of this Author income stream. Just keep writing your best books and who knows, you may be able to sell one of your book’s movie or TV adaptation rights.
B: You can make Money from Writing a Book WITH THE CONTENT OF THE BOOK
7. Courses & Training Programs
Many non-fiction authors don’t make a lot of money from royalties except if they are household names or well-known authors like Tom Ferris or Micheal Hyatt (Authors I know).
But many of them make money by creating courses and training programs from the content of their books. Even the two authors I mentioned above have made a lot of money making courses or training programs from the content of their books.
8. Public Speaking
Another way you can make money from writing a book is through public speaking.
But beware because authors that get speaking gigs usually have experience with it or are actively searching for public speaking opportunities. So writing a book does not automatically make you eligible for getting speaking engagements.
9. Ghost Walking Tours
I don’t know much about this but I’ve heard of authors (fiction authors this time) who have had success with this.
But this can only work if you write a fictional or non-fiction book telling stories based on supernatural events or ghost stories tied to locations in real life.
These books can be based on stories created from your experience, someone else’s experience, or just from popular local supernatural events or myths.
10. Coaching & Consulting Services
Many non-fiction authors write books to establish their influence. After writing a book, they become much more marketable as coaches and consultants.
That’s why some authors even give their books out for free. By giving it out for free, it becomes a customer magnet that attracts people willing to pay for their coaching or consulting services.
C: You can creatively develop income streams from your Experience Writing or Publishing Books
11. Courses & Workshops
If you’re very good at writing books, selling books, and probably have some specialized knowledge of the Author business, you can create courses and workshops.
I’ve seen this work well for fiction authors but it can also work for non-fiction writers trying to show other writers how to get started in their non-fiction writing specialization like copywriting.
12. Ghostwriting Gigs
Another way many authors make money after writing a book is through ghostwriting gigs.
Ghost writing a book is getting paid to write a book where you will not be credited as the author or even as a contributor.
Even if that book somehow becomes a bestseller in the future, you will only earn the amount that was signed on your contract, nothing else.
While this might seem very disadvantageous like you’re selling your hard work to another author’s name, many authors put food on their table and pay their bills through ghostwriting. Unlike book royalties that depend on marketing or the author’s name, ghostwriters just have to write a certain number of words, meet their employer’s needs, and then get paid.
13. Author Assistant or Virtual Assistant
Becoming an Author Assistant or Author VA is a great opportunity to make money with your experience as an author and also learn new skills working for another author, usually a fairly successful author.
There are different types of Author assistants. Some include:
- Administrative Assistant – who deals with the administrative parts of a successful author’s business.
- Publishing Assistant – deals with publishing tasks relating to formatting book files, managing metadata, coordinating or communicating with editors, cover designers and beta readers, etc.
- Marketing assistant – depending on an author’s needs, this assistant deals with marketing and helping an author get more sales.
- Research assistant – mostly for non-fiction authors for fact-checking, analyzing data, managing citations, etc.
- Writing Assistant
- Media Assistant for authors that create media content like Videos or podcasts.
- Literary Agent
You can find out more about being an Author assistant via this article or this article.
You can get Author Assistant jobs on Author Facebook groups or job boards/sites like Upwork and Author Media Social Job Boards
14. Book Editing
Do you have a college degree in English or experience working as a book editor of some sort? Then you can dip your toes into Freelance book editing or even book editing for publishers.
There are different types of book editors:
- Developmental or Structural Editors
- Copy Editors
- Proofreaders
- Line Editors
- And more.
But not everyone can be a book editor. If you don’t have the skill, know-how, and experience for this job and you’re not willing to start with free or low-price edits, book critiques, or beta reading gigs, then don’t bother. Because then, you’ll just be scamming another author by providing sub-par work.
15. Book Cover Design
Do you have experience designing book covers?
Designing book covers, especially genre-specific book covers, is not the same thing as graphic design. It is very important that you remember that before deciding that you want to provide book cover design services.
16. Blogging, Podcasting & Youtube
Building a blog, podcast, or Youtube channel with your knowledge as an Author can be another way to make money on the side.
Other than just money, you can use blogging, podcasting, and Youtube video creation to create influence for your author brand and expand the number of people who discover your books.
An example of authors who has done this successfully are Joanna Penn and Jane Friedman among many other authors.
Final Thoughts
If you’re asking ‘how much money can you make from writing a book?’, here’s a definite answer. You can make a lot or you can make as little as $0.
Yes, there’s money to be made in the writing industry but is it easy? No. Does it happen overnight? No.
So if you want to make a lot of money writing books, you’re going to need to be ready to put in the effort and work needed.
