Translation Service
Startup Costs: $2,000 - $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? Yes
THE BRIEF
If you have a facility for languages, launching a translation service could be for you. You can at first offer languages that you are fluent in, and as you grow, you can bring on other employees who can cover the languages that you are not as well-versed in. Translation services can have a variety of clients, in both the public and private sectors, including medical offices, law practices, media businesses, government agencies, financial institutions, insurance firms and more. While not required, you can be certified as a translator. And depending on the abilities of you and your staff, you can also provide interpreter services.
ASK THE PROS:
How much money can you make?
Interpreters and translators made a median salary of $47,190 in 2017 according to U.S News and World Report.
What’s the most important thing to know about this business?
“Translators convert written material from one language (the source language) to another (the target language), while interpreters perform the same task orally. It is imperative to understand that most interpreters do translation work, but translators are not interpreters. It takes training and experience to be able to perform simultaneous interpretation. It is also necessary to understand that some translators become highly specialized in a certain field of work, which makes them the best choice for specific types of translation such as sensitive legal subjects or precise medical reports. Some translators do liaison interpretation, which ensures communication between two people or among a small group.” - Maria Elena-Kassab, writer, interpreter and translator
Translation Service Ideas
Notary Public
Be the go-to person when others need forms notarized.
Home Office Planner
Think you have the key to office space success? Help entrepreneurs design their home bases.
Book Indexing Service
Are you a master organizer? Try book indexing.
More from Business Ideas
He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'
Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.
This Couple Started a Side Hustle Out of Their Volkswagen. It Made $1 Million a Month Last Year and Is 'So Fulfilling.'
Husband and wife Joe Demin and Rachel Connors are committed to building Yellow Leaf Hammocks — and supporting artisans in Thailand along the way.
After Being Laid Off, He Started a Side Hustle With Facebook. It Made Almost $3 Million Last Year: 'I Bought My Mom a $50,000 SUV.'
Carlos Ugalde, founder of House of Chingasos, didn't know anything about digital marketing — but he dove in anyway.