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Issue link: http://digital.canadawide.com/i/526329
48 BCBusiness july 2015 Here's how it works. Most of Figure 1's clients pay for their services in a series of instalments as the publishing process moves along. Once the book is complete, Figure 1 supplies the client with an agreed-upon number of books that the client can use for promotion or to sell directly to customers; the last payment is made once Figure 1 delivers the client with a bulk supply of finished books. The client can then generate revenue through two streams: by selling the bulk supply of books directly to customers or by making royalties off books sold through traditional bookstore retail- ers. Figure 1 assumes the cost of print- ing, marketing, sales and distribution required for the retail market. When selling directly to its own customers, the client retains all sales proceeds; for bookstore sales, Figure 1 pays clients standard industry royalty fees. For example, the White Spot Cook- book, released by Figure 1 in 2013, is sold through the White Spot restaurant chain as well as in bookstores. Burgoo Bistro has a Figure 1 cookbook, as does chef David Robertson's Dirty Apron Cooking School. Both books are being sold through the clients' stores. BC Hydro's recent Figure 1 book, called Power Smart: BC Hydro Power Pioneers, is being sold to Hydro employees and former employees. Those books are also available through bookshop retail- ers and online stores like Amazon. Figure 1 is setting its sights on the national and global markets, too. In Canada, Raincoast Books distributes and markets Figure 1 books, while in the U.S. and internationally, the company has partnered with Publishers Group West in Berkeley, California. The company hasn't ruled fiction out entirely, but for now, they don't see how they could compete with the multi- nationals. The partners' aversion to risk is a necessary byproduct of their industry. Both Labonte and Nadeau started their careers in retail, at the legendary Duthie Books. They went through that store's bankruptcy proceedings in 1999 and know the pitfalls of publishing. "Having gone through that, and deciding to start a company of our own, we are very focused about the business we are running. We are not messing around," says Labonte.