How To Start A Freelance Writer or Copywriting Business

One-Page Business Plan: Freelance Writer

Overview of this business:

A freelance writer creates written content for various clients, including articles, blog posts, scripts, or marketing material, often working remotely.

1. Level of Difficulty:

Moderate. This role requires excellent writing skills, research skills, self-discipline, and the ability to meet deadlines.

2. Startup Costs:

Minimal. A computer and reliable internet connection are primarily all you need. Costs could be under $500 initially.

3. Time Until First Dollar:

Varies. Depending on your network and how quickly you can find clients, it may take a few weeks to a couple of months to earn your first dollar.

4. Hours Per Week:

Flexible. As a freelance writer, you can choose your projects and manage your time. It could be anywhere from 20 to 40+ hours per week, depending on workload.

5. Permits/Licenses:

A basic business license might be required, depending on your location. Some freelancers also register as self-employed.

6. Potential Customers:

Online businesses, publishing houses, marketing agencies, individual clients. Essentially anyone in need of written content can be a potential client.

7. Marketing and Sales:

Online, Networking. Online platforms for freelancers, a strong online portfolio, and word of mouth are common ways to get clients.

8. Driving Traffic:

SEO, Blogging, Social Media Marketing. Showcasing your writing on a blog, maintaining an active social media presence, and leveraging platforms like LinkedIn can help drive traffic.

9. Potential Revenues:

Varies. Freelance writers can charge by the hour, per word, or per project. According to PayScale, as of 2021, the average hourly rate for a freelance writer is around $24.70.

10. Required Skills:

Excellent writing skills, research skills, ability to understand diverse industries. As a freelance writer, you’ll need to adapt to various topics and styles.

11. Competition Level:

High. The demand for good freelance writers is high, but so is the competition. Specializing in a niche or a type of content can help you stand out.

12. Insurance Needed:

Professional Liability Insurance might be beneficial. This can protect you from potential legal issues related to your work.

13. Employees:

Not initially required. As a freelance writer, you can handle all projects on your own. If your workload increases, you might consider outsourcing or hiring.

14. Potential Hurdles:

Finding consistent work, dealing with difficult clients, managing multiple projects. Establishing a steady income flow can be challenging as a freelancer.

Also, AI (Articial Intelligence) is making it harder for writers because many types of beginner and intermediate level writing can be increasingly well done using AI bots like ChatGPT or Bard. This area will continue to develop. 

I suggest learning to write good prompts, and learning what AI can do to supplement or assist in your writing.

Next Steps If You’re Interested In This Business Idea:

1. Assess Your Skills: Start by evaluating your writing skills and identifying the types of writing you are good at and enjoy.

2. Portfolio: Build a strong portfolio showcasing your work. This can be on a personal website or platforms like Medium.

3. Start Networking: Reach out to your network and join online communities of freelance writers and potent