The most prestigious of the publishing routes is traditional publishing. However, it is also the most difficult route. Traditional publishing can feel like a harsh and punishing world that is cloaked in mystery. So, this article hopes to clear up some of the misconceptions and uncertainties about traditional publishing.
What Is Traditional Publishing?
Traditional publishers buy the rights to an author’s manuscript. They take on the editing, marketing and publishing of these manuscripts, but they also take a large cut of the profits.
Publishing companies come in different sizes. If you research traditional publishing, you will likely hear the term ‘the Big Five’. This refers to the largest traditional publishing houses: Macmillan, Harper Collins, Hachette Book Group, Penguin Random House, and Simon and Schuster. These publishers dominate the book publishing industry.
However, there are mid-sized and smaller publishing houses that you can submit to. Mid-sized publishing houses function in almost the exact same way as the Big Five; the only exceptions are that they may not pay authors advances, and you may not need an agent to submit a manuscript for review (although you should check the publisher’s website for information about whether you need an agent before you submit). Small presses mostly accept un-agented manuscripts, but they have much tighter budgets, so print runs will be considerably smaller.
Getting your book traditionally published is incredibly hard. Publishers receive hundreds to thousands of applications but may only publish a dozen a year. That’s a lot of competition. It is massively helpful if you know how the process works and use it to your advantage.
The Process
Any publishing process starts with the writing phase. You can’t publish a book that isn’t written. At this stage, just focus on writing. It’s ok if you have an idea of which publisher you want to target, but it’s better to just focus on your writing. If you need help with writing, I have many blogs on writing.
Then you need to refine, edit and proofread. I strongly recommend getting a developmental edit done on your manuscript before you start querying. Because there is so much competition, you need your manuscript to be as strong as it possibly can, or the publisher might reject your application.
While you are waiting for your editor, you could start researching publishers and agents who are accepting manuscripts from your genre. You want to create a list of publishers and agents, just in case you don’t get your first choice. Also, make note of any publishers that will only accept agented publishers.
Once you’ve received your edited manuscript back and made any changes, you can now start querying. Agents and publishers will usually ask for a query letter and a synopsis in the first instance. They will use this to determine whether they are interested in seeing more of your manuscript. If they do, they’ll usually ask for the first three chapters. If they’re still interested, they’ll request the full manuscript. If you’ve managed to hold their attention through all of this, they will offer you representation.
If you have gone through an agent, they will send off your manuscript to acquisitions editors who they think will be interested in your novel. The process is largely the same if you submit un-agented; you just don’t have a middleman.
Acquisitions editors are employed by publishing companies to find manuscripts that they believe will sell well. If they believe your manuscript will do well, they will offer you a contract of publication. Upon acceptance, your manuscript will be funnelled through the publication process until they launch it. This process can take 18 months or more.
The Advantages of Traditional Publishing
There are many advantages of traditional publishing, namely:
You don’t have to pay all the upfront costs. While I recommend getting a developmental edit done before you start querying, this isn’t compulsory, and you can submit without it.
You have access to the expertise of editors, marketers and publishers.
If you submit to a bigger publisher, you will get an advance.
You will spend less time working on marketing and publication, so you can spend your time writing.
It is easier to get your book into bookstores and libraries if you publish traditionally.
You will be more likely to get mainstream press reviews and will be eligible for more literary prizes.
It’s more prestigious.
The Disadvantages of Traditional Publishing
However, nothing is perfect, so traditional publishing has some disadvantages too:
It takes a long time for a novel to make its way through the publication process. Some authors wait years or decades to get their first book traditionally published.
You will need to get an agent, who will charge 15%–20% per book.
You will not have the rights to the book for a period. This is usually 5–10 years.
Royalties are much lower for traditional publishing than for self-publishing. According to Reedsy, traditionally published authors typically make 5%–20% in royalties, while self-published authors can make 50%–70%.
You will have less creative control. While traditional publishing is a collaborative process, some publishers may have non-negotiables that you will have to abide by if you want to publish with them.
There’s a misconception that traditional publishers will do all the marketing for you. Publishers will put a lot of effort into the launch and the season during which your book launches. But, after that, you’re largely left to your own devices. You will still be expected to do most of the marketing yourself.
Bookstores don’t keep big inventories, and the books that don’t sell are returned to the publisher or pulped, which is money down the drain.
If your book doesn’t out-earn its advance, you won’t get any royalties, and this may affect your chances of selling another book.
Is Traditional Publishing for Me?
This is a really challenging question to answer because it is largely down to preference. If you want to make use of the experience of a publishing house or want the prestige that traditional publishing brings, then you should absolutely investigate this route. However, traditional publishing isn’t for everyone, and, if you’re willing to invest some time, money and energy into learning how to market yourself (which you will likely need to do even if you’re traditionally publishing), then self-publishing may be a better option for you. Don’t rush this decision, and make sure you are completely happy with any contract before you sign it.
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