Are you a freelancer looking for Best Freelance Business Ideas to Make Money? If yes – we will take you some of the best ways to make money online.
In this article, we will take you through various online businesses you can start as a freelancer, and most of the businesses don’t even need an investment. So, if you are interested in beginning so, please go through this comprehensive article.
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Table of contents
- What is Freelancing?
- How to Start Freelancing?
- Pros and Cons of Starting a Freelance Business
- 16 Best Freelance Business Ideas to Make Money
What is Freelancing?
Freelancing is where a person works for themselves, rather than for a company. Freelancers take on contract work for companies and organizations, in this way they are ultimately self-employed.
It is like working for yourself and doing projects with different companies rather than being a company employee.
Freelancing is predominant in fields (profession) which include: music, writing, acting, computer programming, web designing, graphic designing, translating and illustrating, film and video production, and other forms of piece work.
How to Start Freelancing?
Starting a freelance business is an exciting likelihood. It has benefits like setting your hours and pursuing your passion are certainly attractive but this will require a lot of effort, strategy, and planning.
The most difficult question every freelancer comes across at the start is “where do I find my first clients?”.
To start freelancing, you should be aware of who your ideal clients are. You may not be able to get them right away, but you must have a clear idea in your mind of who you’re trying to target, so the decisions you make about which clients you work for are achieving your momentum down that path.
Many people think of getting into remote freelancing specifically for the opportunity to work with international clients. But that also means they are competing with the international market.
Local connections make for greater trust, also make easier communication and less competition as compared to the international market.
Pros and Cons of Starting a Freelance Business
Pros of being a freelancer:
There are many advantages of being a freelancer. As a freelancer, you’ll be able to control not only your workday but your entire career. Here we’ll discuss some pros of freelancing.
1. Time Flexibility
Rather than working a fixed 9-5 schedule, freelancers work the hours they choose.
As a freelancer, you’ll be able to work part-time or full-time, as it suits you. You can take time off to spend with your family and friends when they need you and you can organize your work hour and workload around your everyday tasks.
Time flexibility and management can significantly improve your life quality.
2. Income Flexibility
Another great thing about being a freelancer is the income flexibility it has to offer.
While regular employees are limited to the same salary every month until they get a raise, there is no income cap on a freelancer’s earnings. You can charge anything for your freelance services, up to what the market will accept.
You can put considered clients on your waiting list, securing more earnings for the future or you could hire an assistant to perform certain tasks for you such as marketing and billing, freeing up more time for clients.
3. Location Independence
Most freelancers work remotely and enjoy location flexibility. You could work from your local coffee shop sitting on your favorite couch.
As freelancing is getting popular, it is becoming increasingly common to work while traveling. ‘Digital nomads’ is the term used for these people.
Being a digital nomad has its benefits. Besides being able to explore new places as a tourist, you also have the freedom to move somewhere permanently, while taking your clients with you. This allows you to enjoy a lower cost of living and/or higher quality of life.
4. Continuous Career Growth
Career growth is the final benefit of becoming a freelancer. Being a freelancer you have a chance to experience a bird’s-eye view of all the aspects of running a company.
You’ll gain experience working with many different types of clients. This will give you more empathy for your clients and the business challenges they face.
The extra time flexibility you have gives you more opportunities for professional development.
Pros of being a freelancer:
1. Unstable Income
As a freelancer some months might be very busy, others may be quite slow, it is inherently unstable.
The trick to being a successful freelancer is not just in getting the first few clients. You will need to build a reliable, dependent, and a strong system to generate clients over and over again.
You need to be highly self-motivated to a freelancer and you will need to be comfortable with financial risk-taking.
2. Complex Taxes
The complexity of tax return is one of the biggest challenges that freelancers face. Freelancers must create individual invoices for every project and keep them organized for tax time.
As a freelancer, your tax return will look very different from an employee’s.
An important point to be kept in mind while setting your rates is that the amount you earn from clients is not all “money in your pocket.”
3. Paying for your expenses and benefits
As a freelancer, you will have to arrange for your healthcare coverage, you may also have to pay for other types of insurance (such as professional liability insurance) and you will have to buy all your equipment.
16 Best Freelance Business Ideas to Make Money
We have listed Best Freelance Business Ideas to Make Money for you to start with, go through them one by one, and select the best one which fits your line of expertise or profession.
1. Start a blog
Blogging is one of the most profitable online professions. Doing blogging in 2020 is worthwhile.
Your first step with starting a blog is quickly getting the technical side of things handled and then understanding what your audience craves and learning how to attract those readers online.
Going through the process of building a blog business plan and picking a blogging niche, WordPress theme and working on your first post. You’ll also need to employ the right blogging tools, self-learning, and patience to grow your blog along the way.
2. Freelance Writing
Freelance writers are in high demand to write for websites, blogs, magazines, and email newsletters.
Freelancing writers produce whatever written text is needed by their clients from their home or rented office. They often work up to 10 hours a day to complete marketing administrative work invoicing and assignments.
For a freelance writer, it is a good idea to save 35% of income for taxes. One of the best ways to do this is to track expenses with online software or a program for easy reporting to provide an accountant at the end of the year.
3. Web designing
Becoming a freelance web designer is a top side business idea today and you don’t need a fancy bachelor’s degree to become one.
Web design is all about mastering the art of creating a value-driven experience for the people using a website or app.
As a freelance web designer, you put yourself in a high-value position. To go with this idea is going to work because there is lots of demand and a huge shortage of web designers worldwide. Also, Contract salaries are frequently high.
If you have good skills behind the camera and you carry it around, ready to take amazing photos, and if you enjoy this art then you may consider a career in freelance photography.
It is an act of providing photography on a contract basis for clients.
Benefits of freelance photography are that you get to create your schedule, you get to decide what type and style of photography you want to focus on.
Freelance photography requires a whole lot of hard work, dedication, and hustle to be productive. If you have these characteristics then this may be the right career choice for you. But don’t give up right away when the clients do not flood in. Have confidence in yourself and your work
5. UX designer
UX (User Experience) refers to the interaction between the user (you and me) and product/service such as websites, apps, and even coffee machines, anything from how a physical product feels in your hand. It also shows user experience like how the checkout process is when someone is buying something online.
The goal of UX design is to create easy, efficient, and all-round pleasant experiences for the user. There are some skills you will need to learn to succeed as a freelance and independent UX designer.
Perhaps you have already worked as a full-time UX designer, or maybe you’re transitioning from a related field (such as web design or graphic design).
Experience is very important for getting hired as a freelancer, education improves your skills, increases your confidence, and shows potential clients that you are dedicated to your craft.
6. Teaching and Tutoring
Teaching is known as a noble profession. Teachers are people who have taught and inspired so many to greatness.
If you have something you’re skilled at and very passionate about, you can turn that combination into offering your services to people around the world.
Choosing a career as a freelance tutor is beneficial because children have begun to prefer interactive and visually appealing education, as opposed to the classroom teaching models that have existed for so many years.
Freelancing is a viable option for programmers interested in earning additional income while employed or starting a full-time business in the near future.
Work is abundant in the market and shortage of programmers freelancing in the industry, this opens the door for managing a consistent volume of work.
This is the prime time for programmers to get involved in freelancing so they can fulfill the needs of individual clients on a one-time or contract basis.
8. Graphic Designing
Graphic designers are very much in demand online. People need logos, memes, infographics, blog posts, and cover photos all the time. Having a formal background in graphic design is going to be helpful but learning the foundations of graphic design on your own is also easy.
If you’ve strong drawing skills, thorough knowledge of graphic design theory, and a comprehensive understanding of professional standards, graphic design is easy for you. You only need to build marketable skills that employers and clients value.
9. Photo and Video Editing
If you have good knowledge of media production and communication, then starting a career in photo editing and video editing could be a creative and fulfilling freelance business to start.
You need to be thorough and pay attention to every detail to become a good editor. Social platforms like YouTube, Instagram, IGTV, and Facebook provide a good opportunity for creating content.
There are various types of editors – wedding, portrait, product, commercial, lifestyle. Figure out what you are best at and then you can go for a few online courses to hone your skills in your niche.
10. Virtual Assistant
A virtual assistant is a person who provides administrative services to clients while operating remotely. It typically operates from a home office but can access the necessary planning documents, such as shared calendars, remotely.
It can be an awesome way to rub shoulders with some very important people, build up your professional network, develop in-demand new skills, grow your side business ideas and you’ll have the added advantage of being able to begin this as a home-based business idea.
If you’re highly organized, love systems and processes, and you’re all about getting things done, a virtual assistant career is right for you.
11. SEO Services
SEO (Search Engine Optimisation) is a crucial part of the overall online strategy. It’s about improving your online visibility by achieving high rankings on Google search results and attracting organic search traffic.
SEO services providers utilize this practice to increase the number of visitors to a Web site by obtaining high-ranking placements in the search results page of search engines.
For a small business owner or young professional just starting, SEO can be daunting but the good news is you can learn about it here, right now.
12. Social Media marketing
Social media marketing refers to the use of social media platforms to connect with your audience to build your brand, increase sales, and drive website traffic.
If you spend most of your time on Instagram and Facebook, you can utilize your time by putting your knowledge to better use by helping companies understand how to reach their audience on social media.
You need to have a pulse on what’s happening and changing so that you can adjust your client’s strategies accordingly.
To have a good hold at social media marketing you’ll have to spend days creating and scheduling content, writing posts, designing graphics, even making videos, looking at engagement analytics, and actively growing a community.
13. Editing & Proofreading
Writers need to make sure that there are no spelling mistakes in their written pieces. They need someone to look thoroughly through their article and make obvious corrections.
So if you love reading, writing and you can spot a grammatical error then editing and proofreading could be perfect freelance business ideas for you.
14. Advertising copywriter
Advertising copywriters produce summaries and texts for promotion campaigns and improves advertising copy according to feedback. Copywriters generate the words, slogans, and audio scripts that accompany advertising visuals.
Freelance copywriters write words (or ‘copy’) for commercial use on a contract basis. They can work directly with clients or through intermediaries such as agencies or online work exchange.
If you have a talent for writing compelling ads for a broad spectrum of clients then you can go for freelance copywriting
Ghostwriting is when a writer (‘ghostwriter’) is hired to write a piece of content for an organization, individual, or an artist, who then publishes the work as their own.
A ghostwriter is hired to write editorial works, speeches, or other texts that are officially attributed to a different person as the author.
Ghostwriters take money but none of the credit for the work produced. The original writer or author hires the ghost as a freelance writer to produce copywriters’ work for a fee.
Hiring a ghostwriter is a common practice nowadays. Ghostwriters may be hired for creating a new copy of websites by rewriting it and similar jobs such as writing business copy or ads or supplying new or rewritten material for personal or professional use.
Ghostwriters often work for very high sums of money. A ghostwriter is hired for his or her quality of work, and not for his or her ‘name’ as a book writer.
16. Magazine articles writing
Writing for magazines is a great place for freelance writers as it can provide a good paycheck for writing cover stories, features, interview pieces, product reviews, travel destination reviews, and other types of articles.
To start, all you need is to come up with a narrative idea that works for the audience. It is always important to know the magazine before submitting the article.
There is nothing worse than submitting an article with the wrong style, topic, or editorial slant to an editor who doesn’t publish that kind of article.
Hopefully, this list will help you discover some new Best Freelance Business Ideas to Make Money. There are many great options to start a freelance business right away, always remember to choose a business that you are skilled and passionate about.
Always, ask three questions before selecting an ideal business for you: What you’re really good at? What pays and sustains you? What makes you happy? It will take some time to kickoff, just have some patience and dedication.