Business Idea

Start A Freelance Mentorship

About

Starting a freelance mentorship requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$1.5T
starting costs
$15K
gross margin
90%
time to build
7 months
growth
Email marketing
time investment
Full time

About

Starting a freelance mentorship requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$1.5T
starting costs
$15K
gross margin
90%

 

time to build
7 months
growth
Email marketing
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $40 $2,350
Employee & Freelancer Expenses $0 $4,000
Equipment & Supply Expenses $500 $5,000
Website Costs $232 $6,425
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Other Expenses $0 $800
Total Startup Costs $1,534 $27,569

Successful Businesses

Business URL Rank
College Student Freelance Project-Based Learning via Educational Technology Work Experience Builders certificationpoint.org #58,403
Acadium acadium.com #59,862
ADPList adplist.org #117,942
Matt Farley mattfarley.ca #213,214
Excel For Freelancers – Build It Once. Sell It Forever excelforfreelancers.com #217,358
The Freelance Creative contently.net #219,026
seanehalpin seanhalpin.design #241,125
Freelance Academic Jobs writool.com #303,733
Home freelanceyard.com #376,263
Nation1099 nation1099.com #713,214
Freelance Writing Jobs Online ‖ Start online writing jobs with writingcreek.com writingcreek.com #842,055

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a freelance mentorship costs significantly less money than most businesses, ranging anywhere from 1,534 to 27,569.
Rewarding work Starting a freelance mentorship can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your freelance mentorship started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your freelance mentorship, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A freelance mentorship can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a freelance mentorship, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a freelance mentorship, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a freelance mentorship, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a freelance mentorship, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.