Any time you consider starting a business, you want to consider the cost. It’s no different for a freelance writer. Funding your freelance writing business is something to be concerned about and something to plan for.

Put together a business plan to describe your clients, what fees you will charge for the services you provide, how you will market your business, and how much you expect to make in the first twelve months.

It doesn’t have to cost as much to start a freelance writing business as some other businesses. In fact, if you already have a computer, printer, and internet service, it can cost considerably less than you might imagine. Let’s look at the costs involved for someone without basic equipment.

You really don’t need a lot to getting any freelance business, but you do need a few basics such as:

•    Computer and all peripherals (monitor, printer, CDs or DVDs, and possibly an external hard drive) as well as Computer software (a basic word processing or office suite would be a good idea for starters, but some clients may require a particular software which you’ll need to get) – up to $3,000
•    Computer desk and chair (be sure to get the best quality chair you can afford, you’ll be spending a good amount of time in it) – up to $500
•    Storage space (filing cabinet and a small bookcase) – up to $100
•    Office supplies (printer ink, paper, file folders, pens, etc.) – up to $100
•    Internet service, high-speed is best – up to $60 a month ($720 per year)
•    Electricity to run all of your necessary equipment – $300 or up depending upon where you live
•    Telephone service – $50 or more per month ($600 per year)
•    Local, state, and federal licenses where applicable – up to $1,000 depending upon which licenses you need
•    Accounting service (if you’re not comfortable keeping them yourself) – up to $1,000 a year
•    Webhosting – up to $250 a year
•    Business stationary (business cards, letterhead, envelopes) – up to $150

Can you get by spending less for any of these start-up needs?

Of course you can!

However, you may want to decide which items are most important to you and which ones you can get by spending less on.

You can get by spending much less to start a freelance business; in fact some claim they’ve been able to get their freelance writing business off the ground with little to no outlay of funds. If you already have a computer, printer, and internet service those are expenses you won’t have to worry about. You can also find some of the software you need free on the internet.

As you can see it can cost upward of $10,000 to get a freelance writing business started if you don’t already have some items. However, it can also cost considerably less. If you’re in the first group of people, you may want to think about how to pay for your start-up without getting a small business loan.

One way to fund a start-up is to begin saving for it or using savings you already have available. You can also work a traditional job while you’re in the process of getting your business started. Ask friends or family to invest in your success.

Funding your freelance writing business can be easier than you think depending upon your start-up costs. Decide what you absolutely need and then you’ll know what type of funding you’ll need.

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