14 Pros & Cons Of Starting A Freelance Writing Business (2024)

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Rewarding work

Starting a freelance writing business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

No overhead costs

To get your freelance writing business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!

Meaningful business connections

You never know who you will meet as a freelance writing business. This could be the start of an incredible business opportunity!

Quick build time

The average time it takes to build your product is quick - typically around 3 months. This will allow you to bring your product to market faster.

Control of workload

With becoming a freelance writer, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Crowded Space

Competition is high when it comes to your freelance writing business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Work can be inconsistent

As a freelance writing business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.

Lack of benefits

With a freelance writing business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Isolation

Often times, as a freelance writing business, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a freelance writing business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.