How Profitable Is A Writing & Editing Business? (Updated for 2024)
So you want to start a writing & editing business?
And the first question that came to your mind was, “well, are writing & editing businesses actually profitable?”
Especially considering:
- You could start a writing & editing business with as low as $32
- Based on our data, writing & editing businesses generate an average of $2.55M per year
- You could see gross margins as high as 70% with writing & editing 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 writing & editing business.
Let’s dive in!
Is a writing & editing business profitable?
Yes, a writing & editing 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 $2.55M per year with an estimated gross margin of 70%, 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 writing & editing 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 writing & editing business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.
Is a writing & editing business worth it?
If you’re wondering if a writing & editing business is worth it, the answer is a big YES. With writing & editing businesses, you have the potential to earn $2.55M 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 writing & editing 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 writing & editing businesses case studies.
Examples Of Profitable Writing & Editing Businesses
Here are a few examples of profitable writing & editing businesses, and a few more details about them:
1. Thriving Best Sellers ($180K/year)
Steve, while he running an Internet digital marketing company back in 1987, had helped his then-wife and his daughter publish a book while they both blogged about their travel stories. It was at this point he realized how powerful becoming a best-seller can be. Encouaged by a coach, Steve had then put together his first program.
Is it profitable? Yes
What's the gross margin? 30%
How much money it makes: $180K/year
How much did it cost to start: $500
Steve Kidd's Done For You program has helped thousands of authors write, publish and market their books, with 156 people becoming best selling authors and reaching over 180,000 people in 2016 alone, and since then Kidd has been working on expanding his offerings and services while aiming for an average annual sales of $10 million.
2. Writing Income Accelerator ($120K/year)
friends who turned out to be a nightmare to work with. They were demanding, changed their minds constantly, and didn't want to pay my fees. But I learned to be firm with my boundaries, set clear expectations, and communicate effectively to avoid any misunderstandings or difficult situations in the future. It's important to remember that not every client is going to be a perfect fit, and it's okay to say no to those who don't align with your values or work style.
Is it profitable? Yes
How much money it makes: $120K/year
A freelance writing program that teaches intermediate-level writers how to command $1,000 - $3,000 per article, with creator Arlie Peyton generating $10k a month from writing custom long-form articles that get premium results in the eCommerce and SaaS industries and for personal brands.
3. AudioPen ($180K/year)
In March 2023, Louis was experimenting with AI APIs and built four tiny products in a week. One of them, AudioPen, quickly resonated with users on Twitter, now generating $15,000 per month.
Is it profitable? Yes
What's the gross margin? 70%
How much money it makes: $180K/year
How much did it cost to start: $32
A founder shares how he built AudioPen.ai, a tool that transcribes voice notes, generating $15,000 monthly with minimal costs and no paid marketing, highlighting the importance of focusing on the product, word of mouth, and personal communication with users for sustainable growth.
Learn more about starting a writing & editing business:
Where to start?
-> How much does it cost to start a writing & editing business?
-> Pros and cons of a writing & editing business
Need inspiration?
-> Other writing & editing business success stories
-> Marketing ideas for a writing & editing business
Other resources
-> Writing & editing business tips
How much can you make with a writing & editing business?
With a writing & editing business, you can make an average of $2.55M revenue per year (based on data reported by real businesses).
You can start with an initial investment as low as $32. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 6 months.
How much does a writing & editing business make a week?
Based on our data, average weekly revenue for a writing & editing business ranges around $53.1K. As such, you could see monthly revenues of $213K.
To know if your writing & editing 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 writing & editing business.
How much do writing & editing businesses owners make?
The income of a writing & editing 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 writing & editing business is about $53.1K. 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 writing & editing business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.
Writing & Editing Business Profit Margins
Generally speaking, a writing & editing business can expect profit margin of around 70%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a writing & editing 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, writing & editing 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, writing & editing business owners can ensure long-term sustainability and profitability for their business.
Writing & editing business owner salary
The salary of a writing & editing 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 writing & editing business, in a prime position, might see an average weekly salary around the ballpark of $37.2K.
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 writing & editing business may be a promising business to start - but the success of your writing & editing business mostly depends on your effort and your approach.
If you focus on these, you'll have a much higher chance of a profitable writing & editing business.
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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.
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