How to Start a Language Translating Company
Today’s world seems to be shrinking at a rapid pace and the demand for quality language translation is high. For those who are fluent in more than one language, the employment opportunities are growing rapidly, too. But, there are also opportunities for starting one’s own translation company, and these have many advantages for a multi-lingual entrepreneur.
Starting a Company versus Freelancing
Before settling on opening a new business, its best to determine exactly what type of work is of interest to you. Are you interested in starting a full scale translation agency, or do you simply want to work as a freelance translator? The differences between the two are immense. Being an individual freelancer requires a mastery of more than one language and an ability to attract those interested in the services a freelancer offers. Running a translation agency is another matter entirely. As with any other small business, an agency will require start-up capital, perhaps additional employees, and a place of business.
Developing a Translation Agency
For those interested in establishing an agency, the first thing to consider is whether or not to find a business partner. A partner need not have experience in the field of translation, but should have a proven track record of successful businesses. This person should be able to invest some capital (or be seasoned in obtaining it), and able to run the day-to-day operations of the company. This will allow the language expert to focus on the tasks of translation. After retaining a partner, the next step is finding a good location for the new translation company. The ideal office will include at least three separate work areas. This will include a quiet area where the work of translation can be done, a call center where the business of finding clients and taking orders is done, and finally an office for the business partners. Of course, this is the minimum. More luxurious accommodations, may be desirable. Three or four separate workstations and a high quality phone system installed with several phone lines will be needed. Also an accounting program to keep track of the financial operations of the company. Whether a bookkeeper or accountant is hired or not can be decided based upon the availability of funds and/or the skills of both partners in that area.
Translating
One of the great things about translation is the abundance of available freelancers. This can make it easier for a new company to get started without the initial costs of hiring a workforce. Hiring a freelancer for specific jobs may be advantageous to the business, but it should be a reputable person who has experience in the field and does quality work. Otherwise, the reputation of the new business may suffer. Also, the new owner may do some translation work when getting the business off the ground. As time goes on and the company becomes more established, it may become necessary to hire fulltime translators.