Great Reasons to Start a Book Editing Business
Business Overview:
If reading is your favorite pastime, and you deem yourself a natural when it comes to grammar and punctuation, it’s time to consider a book editing business. A business idea like this is quite easy to start, if you have the right tools and are truly motivated to make it work. To get started, you’ll want to decide which aspect of book editing most interests you—do you want to solicit and read manuscripts as an acquisitions editor to determine whether they’re possible bestsellers or are you better suited to reading and copyediting manuscripts that are on their way to print? In either scenario, you will be responsible for making good books better and for making writers’ dreams come true. What’s great about this business venture is that it requires very little startup money and since it’s an online business idea, you can easily operate out of your own home office; you might also decide to start bigger with office space and employees. Beyond that, most of your effort as an entrepreneur will be in garnering enough work to make your business a success. To do this, you’ll need to have a strong marketing plan in place and work hard at establishing yourself as a capable book editor. You might consider working the angles of a niche market—becoming an expert at editing how-to manuals or children’s books or romance novels. This can help you more quickly establish yourself in your genre, rather than competing with any number of editors in the larger market. Finally, knowing how to price your editing services can make your business more competitive. From there, you can read, read, read your way to a profitable venture.
A Day in the Life of a Book Editing Business Owner:
Much of the work involved in the book editing business revolves around the acquiring, reading, and correcting of manuscripts. Whether you’re the sole editor in your business or you have employees working for you, you will spend a good portion of your day with these works and communicating with the authors. The rest of a typical day will include your attempts at securing future manuscripts, whether through advertising or word-of-mouth. Then, as any business owner knows, reviewing finances will be crucial in securing the future success of your enterprise.
About Your Customers:
Your customers will be hopeful writers of manuscripts who need an editor to acquire their work for publishing and fix their copy so that it’s streamlined for publication. The goal is that, with your edits, a publishing house will be willing to pay the author to publish the book. You get paid from the writer who is need of your services, though you and the writer might contract your work and fees to be somewhat contingent upon publication.
What You Need to Start:
- Business license, permit, and insurance (if necessary)
- Office space or a home office
- A stellar command of language, grammar, and punctuation
- A marketing plan
- Financial-tracking software
The Good:
- You can start this business with minimal investment.
- The business is entirely scalable.
- You can put your natural talents with written language to work for you.
- The business can be lucrative, especially when you get your name out in the field.
The Bad:
- With the larger publishing companies ever-looming, it could take some time to establish your company and make positive revenue.
- Working solo, you might be limited in the number of manuscripts you can edit, thereby limiting your income potential.
Resources:
- American Copy Editors Society
- National Association of Independent Writers and Editors
- Bureau of Labor Statistics on Authors, Writers and Editors
- Wikipedia on Editing
About The Author
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