The following summary of a freelance writing business' records was given to me on condition of anonymity. The writer and I determined that these numbers may be helpful to new freelance writers, or even established freelance writers, in presenting a snapshot of one writing business' year. I'm inviting you to use the numbers as you can- apply the math to your own situation. How much would you make if you worked more? How much would you make if you worked less? What does it cost to establish a freelance writing business? Does there seem to be more or less money in print or web work? In editorial or in writing? What is the average billing per hour of this particular writer? Is that an acceptable rate? What if you back out administrative hours, which obviously aren't billable?
Obviously I've already explored and questioned these numbers in and out. I invite you to do the same.
"Example" Writing Business 2009 Year-End Records
Total hours worked: 995 hours (Half time)
Total cash in: $45,300
Total cash out: $10,313
HOURS SUMMARY
Hours by type:
- Administration-bills, marketing, jobs, pitches: (243 hours, 25% of time)
- Ongoing Clients (394 hours, 40% of time)
- -Web content: 132 hours
- -Editorial mgmt local magazine: 108 hours
- -Magazine, regular contributor: 63 hours
- -Teaching and Speaking Fees: 73 hours
- -Book reviewing for book review magazine: 18 hours
- Temp Clients (358 hours, 35% of time)
- -Educational proofreading: 43 hours
- -Content writing subcontract: 107 hours
- -Copyediting classroom newspaper: 89 hours
- -Book Reviewer for PR agency: 7 hours
- -Writing test items: 12 hours
- -Educational content: 4 hours
- -Press release: 3 hours
- -Edit of doctoral thesis: 7 hours
- -Copy educational website: 6 hours
- -Content educations co: 6 hours
- -Editing a reference book: 57 hours
- -Writing for online writing magazine: 12 hours
CASH IN SUMMARY
Total cash in: 45,300
Payments in: 62 payments (average of 5/month)
18 total clients
Cash by type:
- Ongoing clients (23316 dollars, 51% of income)
- -Web content: 10629
- -Editorial management quarterly magazine: 6850
- -Magazine, regular article contributor: 1865
- -Teaching and speaking fees: 3811
- -Book reviewing for book review magazine: 161
- Temp Clients (21992 dollars, 49% of income)
- -Educational proofreading: 3184
- -Content writing subcontract: 9310
- -Copyediting classroom newspaper: 4930
- -Book reviewing for PR agency: 80
- -Writing test items: 150
- -Educational content: 250
- -Press release: 237
- -Edit of doctoral thesis: 136
- -Non profit copy: 400
- -Copy educational website: 375
- -Content educational company: 200
- -Editing a reference book: 2380
- -Writing for online writing magazine: 360
CASH OUT SUMMARY
Total cash out: $10,313
Cash out by type:
- Contest entries 15
- Subcontracted writers 7058
- Donations 10
- Fax services (monthly number rental, a waste) 94
- Banking (fees, intl fees, maint) 295
- Food and drink at meetings 53
- Marketing 103
- Memberships 145
- Office remodel 498
- Office supplies (inc books) 480
- Paypal fees 35
- Post office (regular mailings, books out) 295
- LLC renewal filing 25
- Tech costs (web designer, hardware, software, backup) 686
- Travel 522
