6 Start up Considerations For a Translation Business

Start up Considerations For a Translation Business

Your Business Plan

You may think that your German English translation business is in its infancy and you don’t really need a business plan. However, even a rough business plan can give you an approximate idea of your cash turnover assuming a minimum amount of work input and job success. You don’t want your business to run at a loss so you have to ensure you are charging enough to make a profit. You will need to factor in important aspects of a start-up business, such as advertising that will get your German English translation business on the map so that it will draw in customers.

Registering Your Company

There are different ways you can give your business some sort of status depending which country you are setting up the business. If you are working on your own you may wish to set yourself up as a sole trader or if there is more than just yourself involved in running your translation business and you are large enough to employ German translators you may consider setting up a partnership.

Join a Professional German Translation Organisation

Being part of a professional organisation, even though not compulsory, may help you access the latest news about your industry and even enable you to have access to a pool of professional German English translators whose credentials and qualifications you may have access too.

Calculate Your Translation Rates

You must ensure that you offer standard rates for your translation products and that these are clearly published for potential clients to access. You can offer different fees depending on the complexity of the translation project. For example, legal documents may attract higher fees than advertising material. You should also set deadlines as to when the fees should be paid and the penalties for late or unpaid fees.

You Will Need a Website

Online presence is more or less mandatory these days as it is where potential clients compare products, both quality and rates. It is on your website you can include testimonials from happy clients as well as German translation examples that will attract clients. You will need to advertise your website through SEO tactics and this is where professional help should be sought. Even though you can start advertising through social media sites such as LinkedIn and Facebook so your friends get to know your product.

Business Cards Are Important

Make sure you get some business cards printed that advertise your German English translation business. A handful should be carried around just in case you make contact with someone who has an interest accessing your services.