4. Earnings

The final question you will probably want to take into account when considering your own copywriting business is how much you might expect to earn.

There is no easy answer to this. As with many other types of business, the amount you get out is likely to be largely related to how much you put in. At the highest end of the spectrum, top creative teams in advertising can go on to found their own agencies that, in time, may be worth millions. As an independent copywriter, it is more likely your income will be dictated by how much work you can do on your own, and how much you can charge for your talents.

Copywriting rates vary immensely but even as little as £ 100 a day can guarantee a salary of more than £ 20,000 a year, given a steady stream of work. Good practitioners can easily expect to earn up to two or three times this amount. In addition, those who work from home will be able to write off part of their household expenses against tax, so they will effectively keep more of the money they earn than their counterparts in full-time employment.

However, unless you have a ready-made network of contacts, or a client that can guarantee regular, well-paid work, it is wise to assume that it may take a few months to build up a good income. Here, though, copywriting offers a better deal than many other business start-ups in that the initial outlay needed is fairly minimal. And, as with other businesses, Her Majesty’s Revenue and Customs provides a further break by not asking for tax until up to 18 months from the time you start trading – although that does not mean it is not a good idea to put some money aside to allow for it.

For many people, the move into freelance copywriting is a lifestyle decision rather than a financial one. There can be few other jobs that offer such freedom, variety and satisfaction.

International earning potential

One of the great things about copywriting is that you can work for people anywhere in the world, no matter where you are based. In Chapter 8 I provide guidelines on how to adapt copy for foreign audiences and clients. Touting your talents abroad also involves thinking about the way you promote and price your services – both covered in Chapter 6.