College Textbook Prices: The Horror! The Horror!

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 mark.long@tstc.edu

Grace Arsiaga, Project Manager (Development & Production)grace.arsiaga@tstc.edu

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