How To Start Your Own Publishing Company + 1K Giveaway Winners



hi guys welcome back to my channel today's video is one that has been highly requested and that is how to start your very own publishing company this is something that I did as a self publisher I am the owner and president of Black Falcon Press which is my publishing company I want to share my experiences with you and give you a step-by-step guide in case you are thinking about starting your own publishing company quick disclaimer though this video is for informational purposes only I am NOT an accountant or a lawyer and I'm not giving legal advice before making any business decisions it is recommended that you consult with a tax professional and a lawyer with that out of the way first let's get into why it's a good idea to create your own publishing company and make sure to StayTuned at the end of this video because I'll be doing my drawing for the three winners for my 1k giveaway and yes this is what a thousand pieces of paper looks like in a jar so the pros of setting up a publishing company are number one professionalism with your own publishing company you can register the ISBN with your company name as the publisher this will show up on your book sales page and it will look more professional than having createspace or your name listed as the publisher also if you're wanting to use Ingram spark it's required that you sign up as a publisher and not an individual just something to keep in mind number 2 separation of church and state by this I mean that having a publishing company separates your book publishing activities from your personal income and assets it can be helpful to have your business and personal finances separate for tax purposes there are even times when it can save you money also if you decide to form an LLC or an S corporation more about those in a little these companies shield your personal income and assets from lawsuits that may occur while lawsuits are pretty rare in this line of business it's nice to have that extra layer of protection in place just in case and number 3 options galore once you have your own publishing company the sky is the limit down the road you may decide that you want to offer your services to the public you can offer not only publishing services where you offer to publish other authors books which hint-hint is something I'm thinking of may be doing in the future but you can also offer editing revision and marketing services it's your business you can make it whatever you want it to be okay so if all this sounds fine and dandy and you've decided that you do want to start your very own publishing company then you should follow these seven steps number one research your options it's important to know what options are available in your country since I live in the United States this video is going to be about setting up a business in the United States there are three main options to choose from in the States a sole proprietorship an LLC which is also a limited liability company and an S corporation so let's define what these three are a sole proprietorship is an unincorporated business that you run yourself you would claim this under your social security number for taxes this is honestly the easiest way to start a publishing company an LLC is a limited liability company and this is actually the one that I chose for Black Falcon press and it is taxed similarly to a sole proprietorship however an LLC is an incorporated business and separates and protects your personal assets from your business assets under you guessed it limited liability an S corporation is an incorporated business and it gives more tax advantages and savings number 2 decide on a name for your publishing company once you've decided on the type of business that you're going to set up either a sole proprietorship and LLC or an S corporation you need to choose a name for your publishing company you must make sure that the name that you've decided on is not trademarked or already taken in your state also make sure to choose a business name that is professional and fits your brand don't rush this step because your business name is going to stick with you for a long time so you want to pick a good one number three finalize the business type and file the paperwork now that you've chosen a name for your publishing company you need to finalize the setup and file the paperwork the most fun step of all this step is somewhat difficult for me to explain because the filing process varies from state to state so I'm going to tell you how I did it here in Texas because Texas is where my publishing company is setup really all I did was Google how to start an LLC in Texas Michelson was one of the first websites that popped up and I had seen commercials on TV so I figured I'd go ahead and click on it and check it out just to see how much this was actually going to cost I answered all the questions and finally got to the pricing page and holy cow so first of all just to file for a new business for an LLC in the state of Texas it costs $300 but because LegalZoom is a third party service who's going to do all of the filing on your behalf they make you choose from three different packages economy which is one hundred and forty nine dollars plus the three hundred dollar filing fee standard which is two hundred and eighty nine dollars plus the three hundred dollar filing fee or express gold which is three hundred fifty nine dollars plus the three hundred dollar filing fee now I was willing to spend three hundred dollars to set up my publishing company but I was not willing to spend four hundred fifty to six hundred and sixty dollars I knew there had to be another way so I googled again by going to the Texas Secretary of State SOS direct website I was able to do all my paperwork and file my certificate online and it only cost me $300 and on this website I was even able to search other company names to make sure that no one already had Black Falcon Press set up as a publishing company or another company bingo so moral of the story here is do your research and be patient about finding the best way to file your paperwork I recommend going to the Secretary of State's website for whichever state you live in to research and truly understand what it's going to cost you to start your publishing company don't jump the gun and just use a service like Legal Zoom because I promise you you'll figure it out and it'll save you a lot of money in the end number four set up your business bank account it only took 48 to 72 hours for my publishing company to be approved again in Texas so it might differ for whatever state you live in and I would email a certificate right away with my a I n which is employee identification number I was told that the sign certificate was in the mail and should arrive within five to seven business days once you have your EIN you can actually apply for a business bank account I personally Bank through Wells Fargo but I set up my business bank account through Chase each bank has a different process and requirements for setting up a business bank account so you'll need to consult with your local bank for more details I will say that Chase was super easy I literally went online found the checking account for business option filled everything out online I didn't even have to go into the branch and they sent me everything through the mail and it was just literally the easiest process of my whole entire life so if you bank with Chase or you've never bank with them before like me I would recommend them because they were great and the process was seamless just throwing it out there I also recommend setting up a PayPal business account for online transactions especially if you're going to offer and sell signed copies of your book you can use PayPal to send electronic invoices and receive payment directly into your business bank account number five set up an accounting system I wouldn't worry about this too much in the beginning especially if you've only published one or two books but as you start publishing more and earning higher revenues you'll need to have an accounting system in place so that you're not running around your hair on fire when tax season rears its ugly head I recommend buying the cheapest version of QuickBooks and since this isn't a QuickBooks tutorial you'll have to follow the instructions that come with the software or find a different youtube video on how to use that also it's important that you implement a system for tracking your receipts never buy personal items with a business account and vice versa you want to be organized and keep this separate number six register a domain name for your business every company has a website nowadays so it is critical that you make one for your publishing company make sure you register a domain name for your business domain names are the dot-com dotnet orgs info etc by this I mean that I registered Black Falcon press comm Black Falcon press net info and org you can do this through domain registrar's like GoDaddy or one in one domain each domain name costs between $12.99 to $17.99 per year but it's well worth it to pay for all of them so that you don't have someone come and register under Black Falcon press dotnet and I only have Black Falcon press com and you can actually have the dotnet info org if someone types that in you can have it redirect it to your main website which might will be Black Falcon press com so it's worth the money to go ahead and just pay for all of them redirect them so it goes to your main website and that way you don't have to worry about anyone stealing your domain name number seven learn the laws related to publishing companies make sure you learn the laws related to your business for example in the United States there are laws about collecting sales tax when you sell books at live events and it differs from state to state I actually just experienced this at Leviosa Con in Nevada you may also need to register for a sales tax license in your state and/or city again your state's Secretary of State website should be the first place you go to to do research and get all this information so there you have it seven steps to help you start your very own publishing company one quick thing I did want to mention is that if you are kind of on edge or a little nervous about starting a publishing company because you're afraid that you might owe too much come tax time don't fret you have to sell quite a few books before you actually even get taxed and this normally doesn't happen to self-publish authors who have one two or even three books under their belt but if it's still a concern make sure that you visit the Small Business Administration website at sba.gov I'll put the link right here for you guys as well as leave it down below in the description they explain everything really well and will hopefully ease your mind a little when it comes to starting a company and taxes I hope you enjoyed the content today if you did please thumbs up and subscribe to my channel just a couple of weeks ago I reach 1000 subscribers on my youtube channel thank you guys and I promised that I would do my 1k giveaway video in mid-august so here it is I am going to draw three games out of this jar because a thousand pieces of paper would not fit in a hat and those three winners will get to choose from the following prizes number one a signed copy of the Alpha Drive number two a 15 dollar Amazon gift card and number three a first chapter critique don't worry if you don't have your first chapter ready yet or if it's not written that prize doesn't expire it can be three years from now and you can email me and say hey you remember your 1k giveaway and I won this and you know we'll make it work and I'll do the critique for you so there is no expiration date on the critique so without further ado the winners are actually really shake this up this is why I did it in a jar because to put it like I'm making it murder eita or a martini alright winner number one this is all good in here Freitas servantes now put the names right here too so Freitas Cervantes and I'm so sorry I butcher your guys's names it really apologize for that laughs Lara Thomas oa is the second winner and the third winner is hi-ho matey ten so that's Freitas servantes Lara Thomas OA and hypomania ten congratulations you guys are the three winners that have randomly been chosen for my one can't give away so just make sure you email me at author kristin martin at gmail.com to claim your price you can pick whichever prize you want so if all three of you want a $15 Amazon gift card that's totally cool you can choose whatever prize your little heart desires I'm also planning on doing a 2k giveaway in the future with similar prizes so if you're new to my channel or you're just stopping by please subscribe and in next week's video or possibly the week after that I will be announcing the July subscriber winner for the month so stay tuned for that and even if your name wasn't picked for the 1k giveaway prizes you can still win a signed copy of the alpha drive via the Goodreads giveaway that is going on from today Tuesday August 9th through Tuesday August 16th I will leave the link in the description below my debut novel the alpha drive is available for purchase on Amazon Barnes & Noble the Book Depository and books-a-million the sequel of the order of Omega is available for pre-order right now in Amazon and it will be released on Tuesday November 8 2016 all the links are listed below if you have any questions or anything you like me to talk about when my next video is feel free to leave a comment down below or you can tweet at me at all for Kristin M you can also ask a question or post a comment anonymously on my ask me anything page in tumblr again I will leave all of the links down below don't forget to subscribe to my channel to win bookish goodies every month I post new videos on Tuesdays I will see you guys next time bye there's a little teeny tiny spider pull oh I killed it with my quack alator silly

34 thoughts on “How To Start Your Own Publishing Company + 1K Giveaway Winners

  1. This is amazing. You give so much information about not only how to set up a publishing company. You're awesome! Thank you.

  2. I'm serious when I say that this is the best video I've ever seen about business! And I've watched many videos, and read many books and articles about business but it's something about how you broke it down for us. I appreciate that. Thank you for your wisdom in the industry!

  3. I've watched this several times. Can't even express how useful this is! Thank you for paving the way for other like minded individuals 🙂

  4. Currently binge watching your channel and it's helping me so much even though I'm not even yet ready to publishing anything
    I'm still writing everything out but I LOVE your channel

  5. Thank you so much for your advice and wisdom. I truly loved this video. It has helped me tremendously. Thank you. This has inspired me and has made me more knowledgable for my future endeavors. I will send you my book when it is done! Thanks again I am very grateful!

  6. You are amazing, im looking to start my own publishing company, I have written many n now want to become independent…please hit me up if you like to give more info, if you find the time…you are so energetic with a loving personality…👀✌

  7. your beautiful i love watching your videos. you have inspired me to finish my motivation book
    Nathan from London

  8. Wow! This video is really informational I really like this video. I did not know any of this thanks so much. 😁😀👍🏾👌🏾

  9. But how do you actually go about printing your books and getting them into stores and on their website and stuff? Do you have a video about that?

  10. I was wondering if you still had your author site along with your publishing site. The last piece of the puzzle. Now that I see you do, I know I'm on the right path.

  11. When you start your own publishing company do you still use lulus or create space etc for the printing ? Or did you find a place that does that for you?

  12. Hey, I know it's an old video, but could someone tell me an estimate of how much money I should put aside?

  13. This was very informative. I recently discovered your videos and have learnt so much already. Thank you so much for making things clear, motivating and almost easy (ish). (I SAID ALMOST )😆 Thank you again. 😊

  14. Question, if you self publish to Amazon/Createspace, can you go back later and add your publishing company after you've started it?

  15. Great info and ideas! Thank you for sharing your expertise! I am starting my own publishing company and publishing my first book this year.

  16. Kristen went to the secretary of state to file. I also view the site to get the EIN number but I had to save and go back to it. My question to you is, They ask about how many members do you have. Do you have to have members to get the Ein number?

  17. Great video. I actually researched quite a bit about starting a business and was curious, since you filed yourself, did you get a Registered Agent? If so how did you go about getting one?

  18. Ok got it! I do want to eventually publish other's work as well, but I've been thinking when that does happen, do I still use creatspace? I need to do some more research I think! xD

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