18 Business Ideas For Novelists [2024]
Are you a novelist looking for new business opportunities in 2024? You could transform your storytelling skills into profitable ventures. As a writer, you already possess the creativity and discipline needed to succeed in various fields.
From self-publishing services to content creation, the possibilities are vast. Perhaps you could offer freelance writing or open an online course teaching others the craft of novel writing. This article explores some exciting business ideas that could help you diversify your income streams.
For each business idea, we'll show you real-world examples of other novelist businesses to help you see what it takes.
Here's the full list:
1. Become an author ($227K/month)
Turning your knack for storytelling into a business as an author can be a rewarding venture. With the evolving landscape of publishing, you could either navigate the traditional route by submitting manuscripts to literary agents or embrace the autonomy of self-publishing, ensuring complete control over your creative process. The potential revenue from book sales, royalties, and even speaking engagements or workshops makes it an enticing option for any novelist.
Why become an author?
- You’ll have the creative freedom to publish and market your work independently.
- The potential for passive income is enormous, with opportunities to earn through book sales and royalties.
- As a novelist, you’re already equipped with the essential skills needed to tell compelling stories and connect with readers on a deeper level.
For more on exploring the profitability and potential of becoming an author, check out Starter Story's article on author profitability.
How much you can make: $200 — $1,500,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
This case study follows full-time thriller and action-adventure author Nick Thacker who earns between $10k to $20k per month from writing, predominantly through Amazon Kindle Unlimited sales, and goes in-depth into his self-publishing strategy which maximizes sales and minimizes costs, such as developing a mailing list and utilizing print-on-demand services.
2. Start a book writer ($192K/month)
Having a knack for storytelling and a love for words could make becoming a book writer an excellent business opportunity for a novelist. Penning books, whether they are novels, non-fiction, or children's stories, is more than just an art – it's a viable business. Your focus would encompass creating compelling content while managing marketing, networking, and publishers or self-publishing platforms.
The joy of seeing your ideas come to life and resonate with readers worldwide can be immensely rewarding. With dedication and effective strategies, it could turn into a lucrative and fulfilling business. Imagine holding your published book, knowing that your words have the power to inspire, entertain, and educate, leading you to not only creative fulfillment but also financial independence. For more specifics on starting a book writing business, you could check out this resource on startup costs.
Why start a book writing business?
- You could channel your storytelling skills into a profession, turning your passion into profit.
- The process of writing and publishing a book offers both creative fulfillment and potential financial independence.
- Engaging with readers and seeing your work impact lives can be immensely rewarding both personally and professionally.
How much you can make: $2,000 — $600,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 135 days (?)
Qwantify is a digital development and marketing agency that operates a Partner Program guaranteeing websites earn a minimum of $10,000 per month, and since 2016, they have grown to become a multi-million dollar per year digital development agency.
3. Start a book publishing business ($96.2K/month)
Starting a book publishing business as a novelist can be a powerful way to diversify your income and leverage your skills in the literary world. Essentially, you can assist other writers in transforming their manuscripts into well-polished, marketable books, overseeing everything from editing and design to final marketing strategies. This business allows you to use your deep understanding of the industry and your passion for storytelling to shape literary careers while potentially creating a significant revenue stream.
Additionally, this venture offers the opportunity to bring new and diverse voices to a broader audience, creating a rich and rewarding experience for both you and the authors you help. If you have a keen eye for detail and are passionate about the intricacies of publishing, this could be an exceptionally fulfilling endeavor. For more insights on startup costs, you can explore our resource here.
Why start a book publishing business?
- Your experience as a novelist uniquely positions you to understand and guide other authors.
- You could shape diverse literary voices and bring fresh stories to the global stage.
- This business allows you to combine creative passions with a robust business model.
How much you can make: $15,000 — $149,986/month
How much does it cost to start: $500 (?)
How long does it take to build: 200 days (?)
Founder Dave Chesson shares how he created a successful book marketing software, generating $120k a month, and offers advice for non-techies on how to hire programmers, prioritize support, and innovate continuously.
4. Start a book reviewing business ($36.3K/month)
If you love diving into a good book, turning that passion into income by starting a book reviewing business could be a smart move. This venture involves reading new books and providing comprehensive reviews for authors, publishers, and book marketing platforms. It requires a keen eye for detail and an ability to write captivating summaries and critical analyses. You'll also need to maintain a blog or platform where these reviews can be accessed by a wide audience, making social media and SEO crucial components of your strategy. With the demand for insightful book reviews on the rise, especially with the surge in independent publishing, this could be your pathway to a fulfilling and lucrative side business.
Why starting a book reviewing business?
- You could monetize your love for reading, turning your hobby into an income stream.
- By providing valuable insights, you could help authors and publishers improve their work and reach a broader audience.
- Establishing a strong online presence through book reviews could enhance your credibility and exposure as a novelist.
How much you can make: $1,000 — $90,000/month
How long does it take to build: 120 days (?)
OrderOfBooks.com is a website that lists books in both publication and chronological order and generates six-figure revenue after starting off as a resource for the founder and his friends, serving as a valuable resource for book readers.
5. Start a niche blog ($31.5K/month)
Starting a niche blog could be an effective way for novelists to supplement their income while engaging with a passionate online community. As a novelist, you have a unique perspective and storytelling ability that can distinguish your blog from others. By focusing on a specific, underserved niche like book reviews, writing tips, or genre commentary, you can create compelling and informative content that attracts avid readers and aspiring writers alike.
To monetize your niche blog, consider providing affiliate links to related products, building a YouTube channel for added visibility, and collaborating with relevant brands in your chosen niche. Over time, this can grow into a side business—or even a full-fledged one—that complements your novel-writing career. For more detailed insights, visit this article on how much niche blogs can make.
Why start a niche blog?
- Your storytelling skills can captivate an engaged audience.
- Blogging provides an additional revenue stream through affiliate marketing and brand partnerships.
- It allows you to build a personal brand and connect with readers in your niche.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
6. Start a blog ($44.9K/month)
Starting a blog can be an ideal way for novelists to supplement their income and build their brand. By sharing insights into your writing process, offering tips to aspiring writers, or delving into the themes that inspire your work, you could reach a broader audience and monetize your blog through ads, sponsored content, or even selling your books directly. This location-independent business allows you to work from anywhere and connect with readers anytime, making it an attractive side hustle or full-time venture.
Check out some success stories at Starter Story to get inspired.
Why start a blog?
- Blogging allows you to connect with a global audience and drive traffic to your book sales.
- You could establish yourself as a thought leader in the literary community and build a loyal readership.
- With relatively low startup costs, blogging is a cost-effective way to create additional revenue streams.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
7. Start a newsletter ($213K/month)
Starting a newsletter is a compelling way for novelists to supplement their income, make extra money, or even establish a side business. By leveraging the increased interest in email newsletters over the past five years, you could connect with readers on a more personal level. This interaction not only helps in marketing your books but also establishes you as a trusted expert in your genre, creating a loyal following.
Why start a newsletter?
- You'll build a dedicated audience. A well-crafted newsletter can educate, inform, and persuade your subscribers, creating a strong bond between you and your readers.
- You'll have a consistent platform for promotion. Each newsletter issue can subtly promote your latest work, upcoming releases, or exclusive content.
- You can generate additional revenue streams. Newsletters offer opportunities for monetization through advertisements, sponsorships, or premium subscriptions.
For more insights, you can explore how to start a successful newsletter business.
How much you can make: $160 — $4,100,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.
8. Start a content writing company ($50.4K/month)
As a novelist, starting a content writing company could be a lucrative way to supplement your income, make extra money, or even develop a fully-fledged business. By leveraging your writing skills, you could offer a variety of services, such as blog posts, product descriptions, and eBooks, to businesses looking to reach their online audience. This venture allows you to work on your own schedule, choose projects that interest you, and continuously develop your writing abilities.
Why start a content writing company?
- Content writing is a highly demanded service, ensuring a steady stream of potential clients.
- Diversifying your writing portfolio with different content types can enhance your skills and marketability.
- Serving as your own boss, you get to set your work schedule and workload, fitting your business around your novel-writing pursuits.
For more insights on starting a content writing company, check out this page on success stories.
How much you can make: $1,000 — $550,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 30 days (?)
Scribly.io, a subscription-based copywriting service providing high quality content that helps businesses scale at roughly 50% of the cost of hiring in-house, created by Dani, a first-time entrepreneur who started with just a few hundred dollars worth of projects and with the help of three other writers; as of last month, Scribly.io topped $14K monthly revenue.
9. Start a book marketing business ($592K/month)
Got a knack for storytelling and persuasion? A book marketing business might be your next venture. This involves helping authors promote their books to reach a wider audience. You'll develop and execute marketing campaigns that can include social media strategies, email marketing, book reviews, and event planning. Not only do you get to work with authors and publishers, but you also play a crucial role in bringing captivating stories to a broader audience.
Why consider starting a book marketing business?
- Leverage Your Expertise: As a novelist, you already understand the intricacies of the book industry and what sells.
- Expand Your Network: You get the opportunity to collaborate with other authors and industry professionals, enhancing your influence and contacts in the literary world.
- Creative Fulfillment: You can apply your storytelling skills to craft compelling marketing campaigns, making the most of your creative talents.
For more details, check out some success stories at Starter Story: (/ideas/book-marketing-business/success-stories).
How much you can make: $100,000 — $2,000,000/month
How long does it take to build: 175 days (?)
Reedsy, a book publishing services marketplace that connects authors with freelancers, has driven over $1m in GMV, features over 1,500 vetted freelance professionals, and sees over 1,000 projects every month.
10. Create an online course ($91.9K/month)
As a novelist, you possess a wealth of knowledge about storytelling, writing techniques, and the intricacies of creating compelling characters. Starting an online course allows you to monetize this expertise by teaching aspiring writers and literature enthusiasts. With low startup costs and the potential for passive income, creating engaging video lessons and supplementary materials can help you build a loyal student base.
Why create an online course?
- Share your expertise with a broader audience, helping others improve their writing skills.
- Generate passive income as new students enroll, giving you financial stability while you continue your writing projects.
- Flexible scheduling allows you to balance teaching with your own writing endeavors.
For more ideas on how to leverage your storytelling skills in an online course, you can explore our detailed guide on starting an online courses business.
How much you can make: $350 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
11. Start a freelance writing business ($65.5K/month)
Starting a freelance writing business can be an excellent way for novelists to supplement their income or create a full-time venture. As a freelancer, you could enjoy the flexibility of working from home and setting your own schedule, which allows you to balance your creative writing projects with client work. Freelance writers work across various niches and topics, providing an opportunity to diversify your skills and income streams.
Why becoming a freelance writer?
- You could leverage your strong writing skills to earn money while working on your novel.
- You could expand your portfolio by taking on diverse projects, from blog posts to technical writing.
- You could enjoy the freedom to choose your clients and set your rates, allowing for greater control over your freelance career.
For more detailed insights, you can check out some success stories of freelance writers.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
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.
12. Become an online dating consultant ($15.9K/month)
As a novelist, you could leverage your storytelling skills and keen understanding of character development to become an effective online dating consultant. Helping clients present their best selves through engaging profiles and compelling first messages taps into the same creative energies used in writing captivating plots and authentic dialogue. With the burgeoning world of Internet dating, this role offers a unique opportunity to translate your narrative abilities into a lucrative side business or even a full-time career.
For more insights on getting started, check out this guide on how to become an online dating consultant.
Why consider becoming an online dating consultant?
- Capitalize on your storytelling talent to create compelling dating profiles.
- Provide personalized assistance that helps people succeed in the complex world of online dating.
- Enjoy the flexibility of running a business that can be managed remotely.
How much you can make: $1,300 — $30,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 47 days (?)
The Match Artist helps singles take amazing photos for their online dating profiles through a 3-hour executive shoot, coaching, and email course, pioneering a new genre of photography, with an average monthly revenue of $5,000-$6,000 and a plan to double down on paid ad campaigns in the future.
13. Start a travel consulting business ($462K/month)
As a novelist, leveraging your storytelling skills to start a travel consulting business could open exciting new avenues for income while feeding your creative spirit. By capitalizing on your knack for compelling narratives, you could craft personalized travel itineraries that transport clients into a world filled with adventure and intrigue. Additionally, your research abilities could help you find hidden gems and unique experiences that make trips unforgettable for your clients.
Why consider a travel consulting business?
- Your storytelling skills can create captivating, personalized travel experiences for clients.
- Travel consulting offers a flexible schedule, allowing time for writing.
- Research and exploration enrich your inspiration for future novels.
For more details on starting a travel consulting business, check out this guide to travel consulting businesses.
How much you can make: $20,000 — $1,500,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 90 days (?)
Rayna Tours and Travels, founded by Kamlesh Ramchandani and Manoj Tulsani, began its journey as a small travel counter inside a Dubai hotel, and has now grown into one of the UAE’s leading destination management companies with earnings exceeding $40 million per year.
14. Start a baby photography business
Starting a baby photography business could be a great way for novelists to supplement their income. As a writer, you already possess a keen eye for detail and storytelling, skills that can easily translate into capturing the precious moments of a baby's early stages. Baby photography is in high demand, and combining this with your creative talents could make for a fulfilling and profitable endeavor.
Why delve into baby photography as a novelist?
- Your storytelling skills will enhance your ability to capture compelling, narrative-driven photos.
- It offers a creative outlet that complements your writing and allows you to express artistry in a new medium.
- You diversify your income streams, making your financial standing more resilient and versatile.
Check out more startup costs and tips for starting a baby photography business.
How much you can make: $10,000/month
How much does it cost to start: $1,500 (?)
Sophie Crew Photography, a newborn photography business in San Diego, was started by a former high-school French teacher in 2009, and has developed a strong brand reputation over 14 years through high-quality photography, SEO optimization and word-of-mouth marketing.
15. Become a business coach ($43.9K/month)
Starting a business as a coach can be an excellent way for novelists to supplement their income or even transition into a full-time career. As a business coach, you'll have the opportunity to guide aspiring entrepreneurs in navigating various challenges such as marketing, e-commerce, and leadership, areas where your analytical skills as a storyteller can offer fresh perspectives. This role not only allows you to utilize your creative problem-solving abilities but also provides a steady revenue stream as you help others to identify and seize their business opportunities. For more insights, check out success stories of others who have taken this path.
Why become a business coach?
- As a novelist, your storytelling skills can help entrepreneurs develop compelling narratives for their brands.
- You'll gain a deeper understanding of various business strategies, which can enrich your own writing and open new avenues for character development.
- Coaching can provide a flexible schedule, allowing you to balance writing projects with a rewarding side business.
How much you can make: $3,500 — $293,220/month
How much does it cost to start: $2,749 (?)
How long does it take to build: 60 days (?)
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
16. Become a blogging coach ($26.4K/month)
As a novelist, starting a side business as a blogging coach can be an excellent complement to your writing career. By leveraging your narrative skills and deep understanding of storytelling, you could teach clients how to build successful business blogs, choose engaging blog topics, and optimize conversions. This not only provides an additional revenue stream but also allows you to engage with a wider audience and establish yourself as an authority in blogging and content creation. Check out these success stories of blogging coaches to see how others have flourished in this field.
Why become a blogging coach?
- You could use your storytelling expertise to help others create compelling and effective blogs.
- By sharing your knowledge, you could build a new network of clients and followers, expanding your influence beyond novel writing.
- Blogging coaching is a profitable business, and the demand for high-quality, strategic content continues to grow.
How much you can make: $3,000 — $80,000/month
How much does it cost to start: $250 (?)
How long does it take to build: 12 days (?)
Ryan Robinson explains how he built a blog with over 500k monthly visitors and generates $25,000-$55,000 in revenue each month through affiliate partnerships, sponsorships, and his own digital products like courses and books.
17. Develop a timesheet solution software ($109K/month)
As a novelist, you could diversify your income by developing timesheet solution software. This business opportunity leverages your natural creativity and problem-solving skills, allowing you to create an efficient tool that automates and streamlines employee time-tracking for businesses. By honing your storytelling skills, you could craft a compelling narrative around your software's features, enhancing its appeal to potential customers.
Linking your timesheet solution with your previous experiences as a writer could provide a unique selling point, resonating with other creative professionals who struggle with time management. For more insights, check out these timesheet solution software startup costs.
Why consider developing timesheet solution software?
- As a novelist, you have honed your attention to detail—a crucial skill for creating seamless user interfaces.
- Your storytelling abilities will help you market the software effectively, making the benefits clear and compelling.
- Developing software provides a steady income stream that complements the often unpredictable earnings from novel writing.
How much you can make: $850 — $225,000/month
How much does it cost to start: $999 (?)
How long does it take to build: 180 days (?)
HoursLogger, a time tracking and invoicing app, was founded by two brothers who started the business as a side project over 6 years ago and made around $9k in passive income last year, with the app in a great position to grow.
18. Start a travel influencer business ($61.3K/month)
As a novelist, combining your love for storytelling with the excitement of travel can create a dynamic travel influencer business. Sharing your adventures and the rich cultural experiences you encounter can offer a fresh and engaging twist to your usual narrative work. This can open doors to monetizing your travels through strategic partnerships with travel companies and earning ad revenue from your content.
By leveraging your writing skills to craft compelling stories about your travels, you could build a loyal following on social media and your personal blog. To start, consider exploring success stories and startup costs for travel influencer businesses on Starter Story.
Why become a travel influencer?
- As a novelist, your storytelling abilities will set you apart, helping you create captivating travel content.
- Your travels could serve as inspiration for new books, enriching your writing with diverse experiences.
- You could diversify your income streams through brand partnerships and ad revenue while doing what you love.
How much you can make: $50 — $233,333/month
How long does it take to build: 90 days (?)
PlanIt is a travel recommendation and planning platform that has seen compelling growth in database coverage and user growth, covering every country in the world with several thousand users and a large SEO focus as well as a growing interest from travel and lifestyle businesses to list their details.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
