5 Common Expenses Incurred by Freelance Writers
Freelance writing is one of the most lucrative freelance businesses there is. While it provides numerous opportunities for growth and expansion, setting up and running a freelance business, whether from home or office space involves a variety of common expenses that every freelancer should be prepared for.
In order to run your business smoothly and ensure that you have enough saved up for a rainy day, it is important to keep a track of all your expenses so that you can manage them well and cut unnecessary costs whenever possible.
TOP 5 FREELANCE WRITING BUSINESS EXPENSES
Let’s take a look at some of the most common expenses you will incur in your writing journey –
The Traditional Me: Office Supplies
Though swiftly becoming uncommon, many of us still prefer the traditional style of writing, using a pen/pencil and paper to perform our day to day writing tasks efficiently.
In fact, many seasoned writers recommend handwriting your first drafts instead of typing them down on your laptop. This makes the role of good quality office supplies such as a pen, pencil, paper, notepads, files, and folders, staplers, pins, and envelopes, important.
The Tech Savvy Me: Laptop/PC, IPad, Printer, Copier
The internet has transformed the manner in which we run businesses today. Right from building new clients across the globe to interacting with them and sending them finished work, a stable internet connection, and your own personal computer/laptop/iPad is an extremely important investment, one that you should not ignore.
Many writers prefer to begin writing by first jotting down rough ideas and thoughts on paper and later, using a computer to give actual shape to the write-up in the digital format.
Often, there is a need to maintain physical copies of projects and contracts. For such purposes, you may want to either buy your own small printer/copier or have regular access to such a service.
Me, the Entrepreneur: WorkSpace Setup
Whether you choose to pursue your freelance writing career from home or office, you will have to bear the cost of renting a workspace.
Next, there will be expenditures on setting up and personalizing your space so that you can work efficiently and produce desired results. This includes purchasing a good quality computer table/work desk, an ergonomic and comfortable chair, and a table lamp, etc.
ALSO READ: Essentials of a Good Writing Space.
Me, the Professional: Travel & Meetings
Most local clients prefer to meet the writer before handing over their large writing projects. Meeting clients from time to time to discuss work and pitch for projects involves a fair share of traveling – one of the reasons why travel expenses can be quite high in the freelance writing field.
Me, the Publicist: Marketing and Promotion
Experienced freelance writers don’t leave any stones unturned when it comes to finding work, promoting their business and marketing their services. Naturally, all this involves expenses.
Some of the most common marketing costs include – designing, building and maintaining a website/blog / FB Page, designing and printing business cards, registrations with different freelance writing sites and portals, advertising on other websites, etc.
Just like any other business, freelance writing too requires investments in terms of time and money. Having a clear picture of the ongoing expenses you are likely to incur will help you plan your revenue model and writing fees accordingly.