How to Start a Book Publishing Company
Many self-publishing entrepreneurs wonder how they can create a publishing company at some point in their career. Most of them may not know this but starting your own publishing company will help not only your book sales, but it will also protect you in the process.
Unlike in the past, creating a publishing company is no longer tedious and time-consuming. This chapter will teach you the benefits of a publishing company (LLC) to both you and your books, what you should know before you start the business, and how to start a publishing company online.
In case your services, book, or products get sued, and you do not have a company, your public record and personal finances will be at risk. A company offers you legal protection and assists you to distinguish between your personal finances and the business finances.
Starting a publishing company comes with a lot of tax benefits. Firstly, you can differentiate between your business income and personal income. For example, you bring in an income of $100,000 yearly, and your business also brings in $100,000. If you have no company, you will find yourself in a different tax bracket.
If you have a publishing company, you can set up a second Amazon KDP account—since the terms of service restrict you to one. This second account associated with your business will be registered as a publishing account, which has extra benefits.
You have to choose a business structure before you begin creating your e-book company. The various types of businesses include; Sole Proprietorship, S-Corporations, and Limited Liability Companies among others. For a publisher, Limited Liability Companies (LLC) is the best.
Do not make a hasty decision in choosing your company name. It is advisable that your business name reflects your actual business. Pick several names in case the first one is taken.
Choosing to make your home your business place is a bad mistake. Everyone will know where you live and this includes lawyers and debt collectors. A good alternative would be to rent physical space, set up a virtual office or get a UPS mailbox.
The “setting up” part is very simple—you might want to consider using My New Company or LegalZoom which is a service for creating an LLC. Select an LLC, choose your virtual company and if you like you can designate the service to sign corporate documents for you.
See? Not difficult at all.
Today, you can do whatever you want without much hassle, thanks to the internet. Having your company may attract additional annual costs, but its benefits outweigh those costs by far. Do a lot of research to help you make a decision and become a founder/owner/president of your publishing company today.
A writer who is looking to keep growing must never get tired. Learning is of particular importance and an author should also be an avid reader, adding to their knowledge while learning new trends and services in the publishing world.
