Resume And Cover Letter Business

How Profitable Is A Resume And Cover Letter Business? (Updated for 2024)

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Updated: September 2nd, 2024

How Profitable Is A Resume And Cover Letter Business? (Updated for 2024)

So you want to start a resume and cover letter business?

And the first question that came to your mind was, “well, are resume and cover letter businesses actually profitable?”

With a market size of $13.9B - there’s plenty of business to go around.

Especially considering:

You could start a resume and cover letter business with as low as $5
Based on our data, resume and cover letter businesses generate an average of $321K per year
You could see gross margins as high as 98% with resume and cover letter 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 resume and cover letter business.

Let’s dive in!

Is a resume and cover letter business profitable?

Yes, a resume and cover letter 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 $321K per year with an estimated gross margin of 90%, you could expect to recover your investment within 7 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your resume and cover letter 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 resume and cover letter business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a resume and cover letter business worth it?

If you’re wondering if a resume and cover letter business is worth it, the answer is a big YES. With resume and cover letter businesses, you have the potential to earn $321K 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 $13.9B, 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 resume and cover letter 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 resume and cover letter businesses case studies.

Examples Of Profitable Resume And Cover Letter Businesses

Here are a few examples of profitable resume and cover letter businesses, and a few more details about them:

1. Resume Assassin ($312K/year)

Mary Southern, founder of Resume Assassin, started the business almost 10 years ago to combine her love for resume writing, job searching, and serving others. Despite doubting her marketable skills, she decided to pursue her passion and create a company that empowers job seekers and entrepreneurs. With hard work and a bit of luck, Mary has grown her business 25%+ YoY for the last 5 years, helping clients land jobs at leading companies and capturing 7- and 8-figure clients.

Is it profitable? Yes
How much money it makes: $312K/year

How I Make $300K/Year Writing Resumes

Resume writing service, Resume Assassin, was launched almost 10 years ago by Mary Southern and has grown 25%+ YoY for the last 5 years, charging $499 for an entry-level resume, $549 for a mid-level resume, $599 for a leadership resume, $649 for an executive resume, $150 for a cover letter, and $349 for LinkedIn optimization, gaining a feature in a local newspaper, as well as appearances on business podcasts and aiming to work with influencers to widen its customer base despite originally being plagued with self-doubt on marketable skills.

Read this case study

Read by 5,812 founders

2. AiApply ($180K/year)

Aidan Cramer co-founded AiApply after drawing from his HR tech experience and leveraging the viral success of his previous AI-driven venture, PetVet.ai. Their platform, which now generates $25K in monthly revenue, revolutionizes job applications using personalized AI to streamline the process.

Is it profitable? Yes
What's the gross margin? 98%
How much money it makes: $180K/year
How much did it cost to start: $0

We Make $25K/Month Helping People Apply To Jobs With AI

AiApply case study showcases the journey from $0 to $25K in monthly revenue, highlighting the power of AI-driven solutions to revolutionize the job application process through personalized tools, viral content, and sustainable growth strategies for SaaS founders.

Read this case study

Read by 1,310 founders

3. Content-Whale Private Limited ($750K/year)

Vaibhav Kishnani, an engineer turned writer, came up with the idea for Content-Whale after noticing the unprofessional conduct in the Indian content market. With just Rs. 2,500 ($35) in capital, he started the content agency which now generates a revenue turnover of Rs. 4 crores ($514,000) and serves clients like Quikr and The Boston Consulting Group.

Is it profitable? Yes
What's the gross margin? 70%
How much money it makes: $750K/year
How much did it cost to start: $35

How We Started A $514K/Year Content Curation Agency With Just $35 [From India]

Content-Whale, a content curation agency, has achieved a Rs. 4 crore ($514k/year) turnover 4-5 years after being started with just Rs. 2500 ($35), and has a pool of more than 500 writers, aiming to become a market leader in the global content market.

Read this case study

Read by 6,077 founders

Learn more about starting a resume and cover letter business:

Where to start?

-> How much does it cost to start a resume and cover letter business?
-> Pros and cons of a resume and cover letter business

Need inspiration?

-> Other resume and cover letter business success stories

Other resources

-> Resume and cover letter business tips

How much can you make with a resume and cover letter business?

With a resume and cover letter business, you can make an average of $321K revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $5. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.

How much does a resume and cover letter business make a week?

Based on our data, average weekly revenue for a resume and cover letter business ranges around $6.69K. As such, you could see monthly revenues of $26.8K.

To know if your resume and cover letter 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 resume and cover letter business.

How much do resume and cover letter businesses owners make?

The income of a resume and cover letter 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 resume and cover letter business is about $6.69K. 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 resume and cover letter business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Resume And Cover Letter Business Profit Margins

Generally speaking, a resume and cover letter business can expect profit margin of around 90%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a resume and cover letter 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, resume and cover letter 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, resume and cover letter business owners can ensure long-term sustainability and profitability for their business.

Resume and cover letter business owner salary

The salary of a resume and cover letter 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 resume and cover letter business, in a prime position, might see an average weekly salary around the ballpark of $6.02K.

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 resume and cover letter business may be a promising business to start - but the success of your resume and cover letter business mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable resume and cover letter business.

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Starting A Resume And Cover Letter Business: Everything You Need To Know

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