My friends and I plan to open a publishing house in our country, focusing on the Sci-Fi genre. We intend to get translation rights for foreign Sci-Fi books and publish them in our country.
However, none of us have worked/are working in the publishing industry, so we don't know anything about the fees associated with foreign translation right. Since going in blind would only lead to disaster, we decided to ask around here for some info first. Specifically, we want to know what kind of fees there will be (Will there be an advance? Will there be royalties? Will we have to pay advanced royalties?) and what is considered a fair price.
Any help would be appreciated.