Textbook Prices: The Horror!
Mark Long & Grace ArsiagaTSTC Publishing
Texas State Technical College System
Ever-Rising Textbook Prices
Retail prices have risen at twice the rate of inflation over the last 20 years
Constant repackaging of books & ancillary materials causes problems for faculty, students, and bookstores.
Instructional programs are more specialized than ever before with off-the-shelf books not filling their curriculum needs
Possible Solutions
Force textbook publishers to lower prices Force faculty to adopt fewer books and do so
more infrequently Utilize custom printing and/or POD (print on
demand) for smaller, more variable print runs as well as providing an additional revenue stream for schools
Potential Dilemmas
Regulating textbook publishers’ pricing will be difficult, if not impossible
Faculty want more choices for classroom materials, not fewer
Custom publishers and/or POD publishers offer limited quality control (both content and design) can wind up costing authors/schools money
The TSTC Solution
Started in-house textbook publishing division in May 2004 with first titles released on 2005
Retail prices typically between $40-$60 Published 30+ titles since then with 10-15
new titles per year– Technology textbooks– Developmental education & soft skills textbooks– Technology forecasts & newsletters– Technical career guides
Content evolves with technology/instruction
The TSTC Publishing Team
PAST: Publisher, Editor, Graphics Specialist, Departmental Secretary & Interns
PRESENT: Publisher, Project Manager, Departmental Secretary, Interns & Freelancers
FUTURE: Publisher, Project Manager, Sales/Marketing Specialist, Departmental Secretary, Interns & Freelancers
Project Acquisition Process
Is there a real need for a new text in this subject area?
What are internal/external sales projections? What is the timeframe for completion?
– % of materials already developed– % of materials to be developed
Editorial Development
Freelance editors work with the authors Editorial interns from Baylor University
copyedit and proofread multiple times Author gives feedback/approval of edited text Quality control—both content and
presentation—throughout is highest priority
Graphics/Page Layout
Each semester TSTC provides interns from Advertising, Design & Print Technology
Interns (& work study) create illustrations, prepare photos, and design covers
Freelance designers do page layout to then hand off to project manager for review
Printing Process
TSTC Printing Production prints proof copies Proof copies are examined and final changes
made Print run ordered Quantity of print run determines whether to
use print on demand (less than 1000 copies) or offset printing (more than 1000 copies)
The Publishing Financials
TSTC Publishing is a for-profit venture, not a service department
Establish royalty & other payment policies Transparent bookkeeping procedures Work in tandem with school’s business office
Points of Sale/Distribution
Adoption sales to college bookstores Direct sales through e-commerce site Online sales through Amazon.com and
Ebooks.com Trade sales through the distributors Ingram,
Baker & Taylor, and Follett
The Incentive to Sell
Adoption/bulk sales beyond base print run for one location
A pricing structure that isn’t built around selling one copy at a time at author’s expense
No costs—up front or hidden—to authors
Who Makes Money?
Authors are paid a royalty or a lump sum on work-for-hire projects
Bookstores—TSTC owns theirs—receive a 20-25% discount on bulk orders
Printing done through TSTC Waco Printing Production
TSTC interns generate contact hours while lowering production costs
Utilizes Faculty Resources
Writing books give faculty professional credibility
Selling books gives faculty financial benefits Classes benefit from faculty nuts & bolts
approach as opposed to “kitchen sink” theory Increased collegiality through face-to-face,
personal interaction throughout development, production, and sales processes
Utilizes Existing Campus Resources
Printing Production Business Office IDEAS Center
– Maintenance of Web and e-commerce sites– Multimedia development
Intern Benefits
Baylor journalism & English interns– Production experience and clips for portfolio
TSTC Advertising, Design & Print interns– Generates contact hours– Class substitution in degree plan– Production experience and portfolio pieces
Potential to enter freelancer pool
TSTC Branding
TSTC Publishing provides quality products in defined niche: technology subjects
Keeping prices low reflects TSTC’s commitment to affordable education
Through its publishing efforts, the college gains nationwide exposure
Pro bono work strengthens ties to the community
Current Situation
Rate of Revenue Growth– $15K in FY 2006– $115K in FY 2007– Projected +$145K in FY 2008– Projected +$200K in FY 2009
Projected to be self-sustaining FY 2010
Future Initiatives
Preliminary recommendations of Tom Woll, publishing consultant, who did an overall assessment of TSTC Publishing:– Add full-time sales/marketing person– Stay within clearly defined product lines– Longer editorial lead time in conjunction with
parallel development of ancillary materials
Keys to Successful Start Up
Write comprehensive business plan– Collecting money for products & services is not
the same as making a profit Hire the right staff & add staff strategically Find “low-hanging fruit”: existing projects
and/or current ad hoc publishing at school Build and maintain author, client, vendor
relationships Commitment + Consistency = Credibility
Contact Information
Mark Long, Publisher [email protected]
Grace Arsiaga, Project Manager (Development & Production)[email protected]
Find out more about TSTC Publishing on the Web at:http://publishing.tstc.edu
Or read TSTC Publishing’s Book Business Blog at:http://tstcpublishing.wordpress.com