Question

What is the profit potential and market potential of a copywriting business?

Answer 1

Copywriting business is one of the profitable business that one can start it with proper planning and market analysis.

There is no limit to earning profits from a copywriting business. If you are a freelance writer then you can earn $25 per hour or if are having your own copywriting agency, in that case you can earn between $30,000 - $90,000 annually.

In order to make copywriting business more profitable, we must focus on subject areas, i.e., writing on which subject can make our business more profitable. Generally, technical subjects fetch more profits than general subjects. So we must give importance to technical subjects like law, banking, business, finance, tutorials and educational material to earn more profits than general subjects.

For making money in the field of copywriting, one should charge competitive rates to customers depending on the amount and type of work to be performed.

Market Potential:

The target market for a copywriting business would be large corporates who can afford a professional writer. Big corporates are always in between ongoing and new projects, thus providing a continuous income to copywriters and other workers or business partners with whom they are doing business. Smaller organizations pay less and sometimes hesitate to pay the full amount to the writers. So it's better to write for the large corporate clients who can help you to earn more in this field.