A Ghostwriting Market to Avoid

Every freelance writer has been tempted by a classified ad like this:

"I have a great idea for a book based on my real-life experiences. People who have heard it say it has the potential to be a best-seller. I’m looking for a ghostwriter to help me get it on paper in exchange for a percentage of the royalties."

Ah, yes, the eternal call for a ghostwriter. Everyone who needs a ghostwriter has a book that’s bound to be a best-seller, and they always want to pay in a percentage of the future royalties so that they don’t have to shill out now. If their book does indeed make it big, then any ghostwriter would be a fool to pass up even 5% of $3 million for a mere lump sum of $2,000 or $5,000 or $10,000.

But what’s the likelihood of their book making it big?

Consider: Most manuscripts submitted to publishers aren’t even accepted. Those few that are accepted rarely earn out their advance for more than modest royalties, meaning that the author doesn’t make more than $2,000 or $5,000 or $10,000. The very, very, very few that become best-sellers are the work of either a talented writer with an imagination on fire—which rules out anyone who’s looking for a ghostwriter—or a celebrity. Celebrities don’t trawl writing forums looking for a ghostwriter. Their agents know someone who knows someone who knows someone.

So you have a set of outcomes to weigh. The first outcome is that the book is never published, leaving you without a dime to show for it. The second is that the book is sold for a modest advance and small royalties, leaving you with half of a normal writer’s already small wages—or less, depending on how well you negotiated with the “author.” The third outcome—the book is a smash hit—can make you roaringly rich, but what is the likelihood that Mr. “I Have A Great Idea For A Book” has what it takes to make a bestseller? In two of these three outcomes, you’re better off asking for a lump sum instead of a percentage of the royalties.

And if Mr. IHAGIFAB’s great idea does turn out to be one of the 0.00003% that become bestsellers despite a lack of star appeal or unifying vision… Well, who’s going to be first in line to write the sequel?

Ghostwriting isn’t a bad job. If you have a knack for turning other people’s ideas into glowing prose, then a steady stream of ghostwriting clients can keep a chicken in your pot. You have to be careful with your finances, though, because what your clients like best is what will benefit you least. If Oprah comes to you with a great idea, by all means, write for a percentage of the royalties. From everyone else, demand cash up front.