Freelance Writing Business

How Profitable Is A Freelance Writing Business? (Updated for 2024)

Pat Walls

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Updated: October 5th, 2024

How Profitable Is A Freelance Writing Business? (Updated for 2024)

So you want to start a freelance writing business?

And the first question that came to your mind was, “well, are freelance writing businesses actually profitable?”

With a market size of $1.5T - there’s plenty of business to go around.

Especially considering:

You could start a freelance writing business with as low as $35
Based on our data, freelance writing businesses generate an average of $751K per year
You could see gross margins as high as 70% with freelance writing businesses

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a freelance writing business.

Let’s dive in!

Is a freelance writing business profitable?

Yes, a freelance writing business is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $751K per year with an estimated gross margin of 25%, you could expect to recover your investment within 3 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your freelance writing business.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your freelance writing business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a freelance writing business worth it?

If you’re wondering if a freelance writing business is worth it, the answer is a big YES. With freelance writing businesses, you have the potential to earn $751K per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $1.5T, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a freelance writing business to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful freelance writing businesses case studies.

Examples Of Profitable Freelance Writing Businesses

Here are a few examples of profitable freelance writing businesses, and a few more details about them:

1. Article-Writing Co ($1.5M/year)

David Tile, the founder of Article-Writing.co, originally tried to start a penny auction website after college but failed. He then turned to freelance writing to make some cash, which eventually led to him building a successful content writing service. With $40k - $50k in monthly revenue from clients like Answers.com, Tile's business has grown without any outside funding, emphasizing the importance of taking action and adapting to market forces.

Is it profitable? Yes
How much money it makes: $1.5M/year

How I Started A $80K/Month Content Writing Business

How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.

Read this case study

Read by 24,840 founders

2. Freshly Squeezed ($33.6K/year)

Adam Crookes, the founder of Freshly Squeezed, had always dreamed of running his own business and had been developing ideas since his high school days. After leaving a digital marketing agency, he took the opportunity to start a content writing business. In just six months, Freshly Squeezed has become incredibly successful, earning considerably more than Adam's previous job.

Is it profitable? Yes
How much money it makes: $33.6K/year

How I Started A $2.8K/Month Content Writing Agency Focused On SEO Growth

Learn how Adam Crookes started a content writing business, Freshly Squeezed, from scratch, resulting in $3K MRR in just 6 months, and get tips on attracting and retaining customers and building a successful service-based business.

Read this case study

Read by 6,114 founders

3. Writing Income Accelerator ($120K/year)

friends who turned out to be a nightmare to work with. They were demanding, changed their minds constantly, and didn't want to pay my fees. But I learned to be firm with my boundaries, set clear expectations, and communicate effectively to avoid any misunderstandings or difficult situations in the future. It's important to remember that not every client is going to be a perfect fit, and it's okay to say no to those who don't align with your values or work style.

Is it profitable? Yes
How much money it makes: $120K/year

How I Started A $10K/Month Business Writing Custom Long-Form Articles

A freelance writing program that teaches intermediate-level writers how to command $1,000 - $3,000 per article, with creator Arlie Peyton generating $10k a month from writing custom long-form articles that get premium results in the eCommerce and SaaS industries and for personal brands.

Read this case study

Read by 10,509 founders

Learn more about starting a freelance writing business:

Where to start?

-> Freelance writing business plan
-> How to finance a freelance writing business?
-> How much does it cost to start a freelance writing business?
-> Pros and cons of a freelance writing business

Need inspiration?

-> Other freelance writing business success stories
-> Marketing ideas for a freelance writing business
-> Freelance writing business slogans
-> Freelance writing business names
-> Freelance writing business Instagram bios

Other resources

-> Freelance writing business tips
-> Blog post ideas for a freelance writing business
-> Freelance writing business quotes

How much can you make with a freelance writing business?

With a freelance writing business, you can make an average of $751K revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $35. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 3 months.

How much does a freelance writing business make a week?

Based on our data, average weekly revenue for a freelance writing business ranges around $15.6K. As such, you could see monthly revenues of $62.6K.

To know if your freelance writing business achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your freelance writing business.

How much do freelance writing businesses owners make?

The income of a freelance writing business owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established freelance writing business is about $15.6K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a freelance writing business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Freelance Writing Business Profit Margins

Generally speaking, a freelance writing business can expect profit margin of around 25%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a freelance writing business, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, freelance writing business owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, freelance writing business owners can ensure long-term sustainability and profitability for their business.

Freelance writing business owner salary

The salary of a freelance writing business owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established freelance writing business, in a prime position, might see an average weekly salary around the ballpark of $3.91K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a freelance writing business may be a promising business to start - but the success of your freelance writing business mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable freelance writing business.

Part of

Becoming A Freelance Writer: Everything You Need To Know

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