If you’re fluent in your native language and at least one additional language, then you could easily earn a good living translating into different languages.
10 Steps to Start a Translation Agency
Below you’ll find a detailed business planning tutorial for starting a translation company. It includes advice on how to get started, licensing requirements, and more.
1. Get Trained
Most translators think they know enough languages to translate effectively but actually, they don’t. They need to take classes and go through training programs to become proficient at their jobs.
It’s best if you go for language training at a local institute where you can get certification from.
2. Do Market Research & Select a Niche
You may want to consider starting out by working within a particular field or a certain type of client. For example, if you’re interested in translating from Spanish into English, check online employment websites to see which companies need translations done in both languages.
You can choose from different languages including Arabic, English, Chinese (Mandarin), French, Russian, and Spanish. After selecting the desired one, learn it well and become fluent.
To become an industry-specific translation specialist, it is essential to know the different terminologies used in that particular field.
3. Find Top Industries that need Translators Most
With the spread of globalization, most industries including governments require translations. However, there are some industries that demand translations more than others.
We have selected five industry sectors where there is an increased demand for translations. These are the following:
- Finance & Banking
- Information & Technology
4. Create a Translation Agency Business Plan
A successful translation company needs detailed documentation of its operations, including its mission statement, operating procedures, manpower recruitment, financials, and market research. This is going to be the road map for your future success.
5. Translation Agency Business Names
When choosing a name for your translation company, make sure you avoid any personal information such as your family name, your name, your address, phone number, email address, or social media accounts. Your clients should not feel like they’re dealing with just another person; instead, they should see your company as a professional organization.
- PerfectTranslation LLC
- Jupiter Translation Services
- Translation Line Solutions
- Localize Translation, Inc
- TransBridge LL
6. Make Your Translation Agency Business Legally Compliant
To avoid any unnecessary hassles, register your company before starting your own project. Speak to competent authorities or attorneys who can help you choose the best legal entity for your needs. Also, obtain the necessary permits and licenses required by your local government.
For US residents, setting up an LLC is usually a better choice than incorporating it because it offers certain advantages.
7. Set Pricing
When it comes to setting prices for translations, it is not right to establish a rigid rule. The price will vary depending on various factors. One factor is the type of service being offered.
If the service you choose is hard to find, then you may charge a high fee. People who specialize in certain fields such as medicine or any other, often get paid very good money for their work.
8. Hire Translators
If you’re starting an English language service company and want to target different industries and countries, hiring experts in those fields is a must. Create jobs for the positions and post them on online job markets to hire the best talent.
9. Start a Blog
If you’re serious about making money from your translations, then having an online portfolio is vital. You’ll need to show people what you’ve done before they’ll trust you with their work.
A good place to start is with a simple website featuring your latest works. Once you get started, you’ll see just how easy it really is to earn money online.
10. Promote Your Translation Agency Business
As a translation company owner, your entire promotional plan revolves around attracting as many people as possible to use your services. Social media marketing is one of the most important aspects of promoting your translation company.
If you want to learn more about language translation and interpreting, check out these resources.
Translation agencies have become increasingly popular in recent times. More and more people who want to learn foreign language skills will need translators. If you’re interested in learning new foreign language skills, then you might consider setting up an online translation agency.
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