A year after the funding method for his first book ran foul of the then Australian Securities Commission, Paul Taylor has brought forth his second offering.
In 1998 Mr Taylor tried to fund the publishing and marketing of his children’s book The Wizard Garageary by selling shares in the venture. He was promptly informed by the ASC that this was akin to selling securities without a licence.
Despite the setback, the book has gone on to sell about 700 copies without the assistance of a major bookseller or publishing house.
“I’m still getting orders from Mason’s Booksellers in the eastern states and I’m still selling copies in shops here,” Mr Taylor said.
He has now written and published the Magic Tooth Trading Company which is being funded by Mr Taylor and some of his family.
“Bookstores are now buying which is great. Before they were taking them on consignment,” he said.
“It’s getting easier to get books sold now because I know who to go and see. Once I’m in front of someone I can usually sell the book.”
Mr Taylor said the stories he wrote were ones he told his children. He said his books sold for $12.50 in most shops and had a wholesale price of $8.
“You have to give the shops more than a 30 per cent margin or they are just not interested,” he said.
