Do you want to start a proofreading business? Do you point out the grammatical mistakes of people? Do these mistakes baffle you a lot? When someone writes “your” instead of “you’re”, do you notice it and want to correct it as soon as possible? As we know, the job of a proofreader is to review the written words and correct them if any mistakes are found. A proofreader corrects punctuation, typos, and spelling mistakes.
Well, if you can relate to these things then you’re the right person who can start a proofread career at home. Now you’ve got the perfect idea for starting your business and it is the time to take the next step. We’ve put together these simple steps guide that will ensure that your newly-planned business will take a good turn towards success. Take a peek below;
Before you enter this proofreading business, there are certain things that you should keep in mind and these are;
- When it comes to proofreading business at home, then you’re about to face a lot of competition. In order to stand ahead of the competition, the right techniques should be utilized.
- In order to ace the proofreading business, you should take a course and learn from it. Proofreadinganywhere is one of the best proofreading courses in the market, get yourself enrolled in it and you’re sure to get all the success in your way.
- Don’t hurry! It will surely take some time, don’t expect instant orders. Just wait, relax, and work on your skills. The results will be brought automatically.
Now, you’re aware of some of the basics of proofreading, look at the steps below that will help you in starting your proofreading business:
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How to Start a Proofreading Business at Home
Step #1 Have a Clear Plan:
For an entrepreneur’s success, a clear plan is a must. You must have a crisp and clear plan before you start your business, it will not only take off the covers of the unknown but also it will get a lot easier for you to map out the specifics of your business. Some of the key factors that you should consider are;
- What will be the ongoing and startup costs?
- Who should be your targeted market?
- What should be the right name for your business?
Well, you don’t have to find the answers to the above questions, luckily, we have found them for you.
The Cost of Opening a Proofreading Business?
There’s one thing that is sure to make you happy and it is that the startup expenses will be really reasonable for you. All you need is a personal laptop/computer and a high-speed Wi-Fi connection. Today, the expenses that you have to bear for your computer may be less than $1000. Some of the clients require their work done on MS Office or any other software, for that you would need to pay a few hundred dollars every year.
The Ongoing Costs:
As your business grows, the income will be increased with it. You would need to hire employees, but don’t worry about it. Such things adjust themselves with time.
What Would Be The Right Target Market?
Well, everyone who requires proofreading work should be your potential client. It may include numerous people like business owners, publishers, editors, high-school students, authors, colleges, owners of small public relations firms and the list is never-ending. So, welcome every client who comes to you for their work. But, make sure you’re able to work on that particular niche. Your work should be perfect from every means.
How Does This Proofreading Business Make Money?
You proofread your client’s work and get paid in return. This is how you will earn money. However, you can charge per page, per word, and on an hourly basis as well.
What Should Be The Fee Structure For The Clients?
Proofreading fees may vary from client to client. It depends upon the area of your specialty. If you get work from public relations firms and Ad agencies then they may offer you $25 per hour. Some of the clients may offer you $3 per page. And when it comes to indie authors, make sure you’re charging the fee that the market is bearing currently.
How Much Profit Can This Business Bring?
The generation of profit is directly proportional to your self-marketing skills. The better your self-marketing skills are, the more you will get clients, and the more clients you will get, the more profit will be generated. According to one wage, it was estimated that the average salary of a proofreader is $48,900 per anum. But, keep one thing in mind, it is about salaried proofreaders and not for freelancers. Just imagine, if you work more, how much profit it can bring to you.
How To Make Proofreading Business Profitable?
There’s one thing that can help you in getting success and it is confidence! Just work on your skills and don’t forget to add editing services to your repertoire. It will help you earn more, more than you can get from proofreading.
What Should Be The Right Name For Your Business?
Okay, so this is something that should get most of your attention. If you have selected the name, go and check if it is available as a web domain. If it is available, then get it as soon as you can, before it is taken by somebody else.
How To Make Your Customers Come Back To You?
If you ever wish to succeed in keeping your customers then you should focus on the quality work at reasonable prices and given deadline. Make sure to work on three areas;
1. Quality work
2. Reasonable rates
3. Given deadline
If you meet the above criteria, your customers are not going anywhere else. Make sure to give some discount offers to your regular customers, it will create a sense of loyalty. You can also send newsletters with some great offers and deals and remind people of your presence.
Step #2: Formation Of A Legal Entity
We can never assure that everything will run smoothly forever. If anytime, your proofreading business gets sued then a legal business entity such as LLC will help you get through it. However, you can seek help from a registered agent for protecting your privacy.
Step #3: Get a Credit Card and a Bank Account
For personal asset protection, it is crucial to have a business bank account and a credit card. If your personal and business life gets mixed and your business gets sued due to any reason, then your personal account has to bear the problems too. So, it is always better to keep both of these separate. Getting a business credit card will also help you to separate your business and personal expenses. Also, you can build your company’s credit history with it and this can help you in the future for raising investments. Not only this, but tax filing and accounting gets a lot easier with it.
Step 4: Business Accounting Set-Up
If you wish to simplify your annual tax filing, then keep an accurate and detailed account. It will help you to understand the performance of your business in a more simplified and better manner.
Step #5: Tax Registration
When you open any business, it gets essential for you to register for numerous state and federal taxes. And for that, you just need to apply for EIN. They won’t charge you any fee, it is free. Through an IRS website, you can easily get your EIN. You can get it via email or fax. As EIN is an employer identification number, so it is crucial for every business owner to have it in order to avoid any problems. However, you will need to provide your business information, the date when it is formed, and the name of your business when you will be obtaining your nine-digit EIN number.
Step #6: Get Essential Licenses and Permits
If you don’t have the necessary licenses and permits, and any problem occurs then it can cause you great fines or even it can cause your business to end.
Step #7: Business Insurance, A Necessity!
Business insurance is something that every business owner should have. If you hire employees then insurance may be a legal necessity in your state. So, make sure to have it!
Step #8: Let Your Brand Speak For Itself
It’s your brand that speaks for you! A strong presence will help you to stand ahead of the competitors. There is nothing wrong with saying that your online presence is surely something that decides whether you’re going to win the game or lose it completely. Your website should be flawless, it should be written with perfection, the social media posts should be error-free, and it should be well-developed and designed. Make sure to give your website a look that is inviting and professional. If you succeed at this, your business is sure to achieve a rocket-boom in its success
Step #9: Establishment of a Strong Web Presence
A strong digital presence is something that can bring you results without much trying. It allows customers to learn about your company and the services/products you sell. The better your website is established, the better results will come to you. However, you can also open social media accounts and post there regularly to spread awareness about your business.
Read my article to learn how to set up a website with Bluehost for only $3,95 per month.
Below are the 10 things that you need to do while jumping into the pool of freelance proofreading business;
1. Be realistic about the time of delivery. If you prove to deliver quality-work on the given deadline, your customers are sure to come back to you in the future.
2. Be an effective marketer! Make your business visible. If people don’t know about your business how will they come to you for the services? No matter, if you’re the best proofreader in the world and not-known, you won’t get any work.
3. Don’t accept the project if you think it can’t be done by you. If you accept and end up with a bad review, it will reflect your profile in a bad manner. So, instead, work on that dark area and prepare yourself for a similar next project.
4. Get the right tools for your home office that will help you to get the job done with perfection. Just as, the right software.
5. Act like a professional and not like a beginner. Reply to every email in a convening tone, post properly and regularly on social media about your business, and organize your accounts.
6. As a beginner, you should definitely focus on your specialties. Take such projects that belong to your educational career, it will help you to develop your skills and you’ll start to build better relationships with the clients.
7. Make sure that the things you post on your social media accounts reflect your business. Think about what people want and post it in a very catchy way.
8. Understand your client’s expectations. First, understand the requirements and then work on these. For example, self-publishers have different expectations than just publishers.
9. Once you’re aware of who your customers are and what are their expectations then target the pitch points. Present yourself in a manner that you’re the right person who can get this job done without any hindrances.
10. Build a strong network. Join freelancing groups and different websites for catching work. Now, we are open to so many options when it comes to freelancing. With the right expertise, you’re no far from success and getting work.
So, now you’ve got the ticket to success for your freelance proofreading business. Just consider these 9 steps above and you’re sure to get all the success that you’ve ever desired. Proofreading business has recently been picked up in the marketing area, many people have started to rely on the proofreaders for proofreading responsibilities. No matter what, this field is highly competitive, best out of best proofreaders are in the race. In order to compete with them, it is crucial for you to select a niche where you can compete with complete ease and perfection.