If you are fluent in more than one language and can efficiently translate from one language to another, a small business providing translation services could be the perfect small business for you.
Some of the benefits you may experience if you start a translation service include:
- Startup costs are very low.
- It's a great home-based business, especially because you can work via the Internet.
- Overhead costs are very low, and you have the potential to make significant profits.
- You have a very broad target market, including legal, commercial, medical, technical editing, interpretation and more.
- There is a growing demand for translators in our global community.
- You can operate solo, or manage a group of translators, even if you are not a translator yourself.
Some of the potential challenges of starting a translation business include:
- You must have complete and thorough command of whatever languages you plan to offer translation services for.
- Among your competition may be computerized translation programs and voice recognition technology.
- It can take some time to establish the business, depending on your location.
- You may want to become certified before offering your services.
- You need standard office equipment, including a computer with an Internet connection and possibly transcription equipment if you will be doing audio translation from tapes.