Business Overview

A translation business provides translation services for a variety of different types of documents while maintaining the confidentiality of their clients. They ensure that the meaning and context of the material is not changed from the original document, and that spelling and grammar are correct.

Who is this business right for?

This business is ideal for those who speak more than one language and have a desire to contribute to achieving greater understanding and cooperation between people of different cultures.

What happens during a typical day at a translation agency?

The day to day activities of a translation business owner might include:

  • Negotiating contracts with clients and other translators
  • Translating documents
  • Maintaining business records
  • Preparing invoices
  • Bookkeeping and accounting
  • Utilizing reference materials
  • Seeking out and contacting potential clients

What is the target market?

Preferred clients are people able to effectively communicate their needs as well as negotiate and adhere to the terms of a contract for translation services.

How does a translation agency make money?

A translation business makes money by charging a fee for translating various types of documents. Depending on the length and complexity of the document, fees may be either by the hour or by the assignment.

What is the growth potential for a translation agency?

As globalization continues to increase, the growth potential for translation businesses increases as well. The need for interpreters and translators is projected to grow 29% within the next seven years, much faster than other occupations. Immigration, multi-national businesses, and the internet have all contributed to an increased awareness of our interconnectedness. Some of the largest translation agencies have offices all over the world and employ thousands of translators.