Virtual Assistant

How Profitable Is A Virtual Assistant? (Updated for 2024)

Pat Walls

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Updated: October 6th, 2024

How Profitable Is A Virtual Assistant? (Updated for 2024)

So you want to start a virtual assistant?

And the first question that came to your mind was, “well, are virtual assistants actually profitable?”

Especially considering:

You could start a virtual assistant with as low as $205
Based on our data, virtual assistants generate an average of $2.8M per year

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 virtual assistant.

Let’s dive in!

Is a virtual assistant profitable?

Yes, a virtual assistant 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 $2.8M per year with an estimated gross margin of 50%, you could expect to recover your investment within 6 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your virtual assistant.

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 virtual assistant is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a virtual assistant worth it?

If you’re wondering if a virtual assistant is worth it, the answer is a big YES. With virtual assistants, you have the potential to earn $2.8M 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 $, 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 virtual assistant 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 virtual assistants case studies.

Examples Of Profitable Virtual Assistants

Here are a few examples of profitable virtual assistants, and a few more details about them:

1. Virtual Latinos ($4.2M/year)

Jaime Nacach, the founder of Virtual Latinos, came up with the idea for his business while looking for a cost-effective way to hire an assistant for his marketing agency. After trying various options without success, he decided to look closer at Latin America and created a platform that connects entrepreneurs with top talent from the region. With over 50,000 applicants and 400 active clients, Virtual Latinos has created a win-win situation for both entrepreneurs and Latin American professionals.

Is it profitable? Yes
How much money it makes: $4.2M/year
How much did it cost to start: $28K

How I Started A $4.2M/Year Latino Virtual Assistant Platform [Over 2,000 VA's]

Virtual Latinos is a win-win-win situation platform connecting entrepreneurs and business owners with top pre-vetted talent from Latin America while helping fellow Latinos find jobs with an average salary two to four times higher than in their home countries.

Read this case study

Read by 5,993 founders

2. FVA Business Consultancy ($12K/year)

Julmar Grace Locsin, founder of Filipino Virtual Assistance, came up with the idea after experiencing the challenges of transitioning from office jobs to freelancing. Recognizing the potential for freelancing to improve the lives of individuals and families, Locsin and her husband launched FVA to provide training, coaching, and services to empower freelancers. Since its inception, FVA has trained over 25,000 students and aims to become the top online academy in the world.

Is it profitable? Yes
How much money it makes: $12K/year
How much did it cost to start: $500

On Starting A Business Training Virtual Assistants

Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.

Read this case study

Read by 8,494 founders

3. OnlineJobs ($12M/year)

John Jonas, a programmer and accidental entrepreneur, came up with the idea for OnlineJobs.ph when he hired two Filipino workers to help with his online business and realized their incredible work ethic and competence. After experiencing the life-changing benefits of outsourcing, he decided to create a marketplace where business owners could find top-tier virtual workers from the Philippines, ultimately helping them create more time and freedom for themselves. Since its launch in 2009, OnlineJobs.ph has grown exponentially and has revolutionized the way entrepreneurs build and grow their businesses.

Is it profitable? Yes
How much money it makes: $12M/year
How much did it cost to start: $5K

This Founder Started A $10M/Year Freelancer Job Board (With Just $5,000)

OnlineJobs.ph founder John Jonas shares how his accidental business idea turned into a fluke success, as he realized outsourcing to the Philippines could help people achieve their ultimate business goal: creating more time and freedom for themselves.

Read this case study

Read by 6,685 founders

Learn more about starting a virtual assistant:

Where to start?

-> How much does it cost to start a virtual assistant?
-> Pros and cons of a virtual assistant

Need inspiration?

-> Other virtual assistant success stories
-> Marketing ideas for a virtual assistant
-> Virtual assistant Instagram bios

Other resources

-> Virtual assistant tips

How much can you make with a virtual assistant?

With a virtual assistant, you can make an average of $2.8M revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $205. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 6 months.

How much does a virtual assistant make a week?

Based on our data, average weekly revenue for a virtual assistant ranges around $58.3K. As such, you could see monthly revenues of $233K.

To know if your virtual assistant 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 virtual assistant.

How much do virtual assistants owners make?

The income of a virtual assistant 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 virtual assistant is about $58.3K. 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 virtual assistant owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Virtual Assistant Profit Margins

Generally speaking, a virtual assistant can expect profit margin of around 50%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a virtual assistant, 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, virtual assistant 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, virtual assistant owners can ensure long-term sustainability and profitability for their business.

Virtual assistant owner salary

The salary of a virtual assistant 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 virtual assistant, in a prime position, might see an average weekly salary around the ballpark of $29.2K.

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

If you focus on these, you'll have a much higher chance of a profitable virtual assistant.

Part of

Becoming A Virtual Assistant: Everything You Need To Know

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