Document Translation Business

5 Document Translation Business Success Stories [2024]

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Updated: July 23rd, 2024

Break into the growing global market with a document translation business.

Simply put, this business involves translating written content from one language to another, addressing the needs of companies, legal firms, publishers, and everyday individuals. The demand for accurate and professional translations is substantial and varied, given the importance of clear communication in an increasingly interconnected world.

Imagine working with a range of clients, from multinational corporations to local businesses looking to expand their reach. The initial setup involves creating a network of proficient translators, setting up a robust project management system, and marketing your services to potential clients.

You'll need to focus on delivering quality work on time, ensuring client satisfaction, and continually updating your language resources to stay competitive. With dedication, this venture can offer a steady stream of income and the opportunity to grow into new markets and languages.

In this list, you'll find real-world document translation business success stories and very profitable examples of starting a document translation business that makes money.

1. DEMAN Übersetzungen ($6.6M/year)

Cédric Sigoire, the owner of DEMAN Translations, had always wanted to have his own company and create value. After searching for 8 years, he acquired DEMAN Translations in 2015 and used his own financing to grow the business from 6 employees and a turnover of 1.5 million euros to 17 team members and 3.5 million euros in sales in 2020. With a target of reaching 6 million euros in 2021 and 10 million euros in 2022, Sigoire plans to expand into France and the United Kingdom.

How much money it makes: $6.6M/year
How much did it cost to start: $1.25M
How many people on the team: 35

Buying A Translation Company And Growing It To $4M/Year

DEMAN Translations grew from 6 employees and 1.5 million euros in turnover in 2015 to 17 team members and 3.5 million euros in sales in 2020 after acquiring 12 other translation agencies, with a goal to reach 6 million euros this year and 10 million euros in 2022.

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2. GMR Transcription Services, Inc. ($2.4M/year)

Frustrated by the lack of pricing transparency while transcribing seven hours of audio, Ajay Prasad saw a market gap and launched GMR Transcription. The company now serves over 12,000 clients and generates over $1 million annually, with just three employees.

How much money it makes: $2.4M/year
How much did it cost to start: $2K
How many people on the team: 5

Running A $1M/Year Transcription And Translation Solutions Business With Just 4 Employees

This case study article showcases the success of GMR Transcription, a company that generates over $1 million per year with only three employees, by providing accurate transcription services with pricing transparency and efficient file delivery.

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3. Transcription Outsourcing, LLC ($1.2M/year)

Ben Walker, the founder of Transcription Outsourcing, was inspired to start his business after hearing about a friend starting a medical transcription company. He saw an opportunity in the healthcare industry and decided to join forces with the founder to create a transcription service that catered to not only medical professionals but also the legal, law enforcement, financial, academic, and general business industries. Through effective advertising, SEO, and a commitment to exceptional customer service, Transcription Outsourcing has been able to attract and retain clients, leading to their success as a $100k/month company.

How much money it makes: $1.2M/year
How much did it cost to start: $150K
How many people on the team: 5

How We Started A $100K/Month Company That Provides Transcription Services

How this founder started a $100K/month guaranteed transcription service for medical, legal, law enforcement, financial, academic and general business industries, winning the NASPO ValuePoint transcription services contract over 26 other companies and learning valuable lessons about getting a coach and getting as much PR as possible.

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4. Lotuly Ltd ($480K/year)

Robert and Mariona Bolohan, a married couple with a passion for languages, started their own translation business, Lotuly. They began as freelance translators and gradually expanded their team to handle more languages. With a focus on human translation and a commitment to quality, they have grown their business to over 500 translators and offer services in over 90 languages. They are now experiencing monthly revenues of $40k and are looking to expand further with a subscription version of their services.

How much money it makes: $480K/year
How many people on the team: 2

From Working As Freelance Translators To Starting A $480K/Year Translation Agency

Lotuly is a remote translation agency with over 500 translators across the globe, offering translation & localization services in over 90 languages and 40 subjects for e-commerce, e-learning, software & marketing companies, universities, and legal firms.

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5. Gritty Spanish ($60K/year)

Eldon Mirjah, the founder of Gritty Spanish, came up with the idea for his business after a trip to the Dominican Republic where he realized he needed to improve his Spanish skills. Frustrated with existing language-learning products, he decided to create his own program with entertaining audio stories and dramatic readings, launching the website in November 2014. However, gaining customers proved to be a challenge, requiring him to experiment with digital marketing platforms and invest $20k in advertising.

How much money it makes: $60K/year
How much did it cost to start: $5K
How many people on the team: 0

My Desire To Learn Spanish Led Me To Build A $70K/Year Language Learning App

Gritty Spanish, a Spanish-language learning program created by Eldon Mirjah, has grown steadily since launching in 2014, with over 1,560 new customers and more than $70k in sales in 2021, largely due to investing in a high-quality blog, iOS/Android app, and web app.

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