Startup cost
$25k–$250k
TRUiC Business Ideas
How to Start a Professional Speech Writing Business
Decision Snapshot
Professional Speech Writing
Idea Score
55
Profit margin
21%
Break-even
4 mo–12 mo
Time to launch
12 wk–36 wk
Demand trend
Stable
5-yr failure rate
—
Capital intensity
Very high
Time commitment
Flexible
Part 1 - How to start a Professional Speech Writing business - Background
A speech writer will write a script for a speaker to follow when they address a crowd. While most people think of politics when it comes to speech writing, there are plenty of other markets for this skill. Everyone from business executives to motivational professionals may need someone to help them create a speech that speaks to their audience.
Our guide is in 3 parts:
- Part 1 - How to start a Professional Speech Writing business - Background
- Part 2 - Our planner tool to see if this idea is the right fit for you
- Part 3 - Action plan to get started
What are the costs involved in opening a professional speech writing business?
Most speech writers only need a computer and a fast internet connection to do any type of research they may need.
What are the ongoing expenses for a professional speech writing business?
Ongoing expenses for a speech writing business will usually remain low, but can include office rental space, marketing costs, and employee salaries.
Who is the target market?
The target market is anyone who may need to speak in public. This is not limited to leaders in companies, non-profits, or activists. A speech writer can work with anyone at any level — even a nervous best man who has to give the toast at his friend’s wedding.
How does a professional speech writing business make money?
Most speech writers start on a freelance basis and make money based on the length or word count of the speech. Writers will vary their price ranges based on the effort it takes to compose the speech. A highly researched, industry specific speech to high profile business executives may cost several times more than a general motivational talk to a high school.
How much can you charge customers?
The median income for a speechwriter in a full-time position is about $75,000 – $121,000 (depending on the source you check), so people are willing to pay big bucks for a good speech. When first getting started though, you may want to work at a lower hourly rate. Based on your current obligations and demand, calculate how much you want to make per hour. Whether you’re charging per word or per project, estimate how much time the speech will take you from beginning to end before quoting a dollar amount to a client.
How much profit can a professional speech writing business make?
Profits can be substantial, especially considering how low the upfront and ongoing costs can be. If a speechwriter charges an average of $200 a speech with an average of 10 clients a month, they may only need to deduct the direct costs of their monthly internet bill for a total profit of around $1,950.
How can you make your business more profitable?
Speechwriters may want to consider branching out to coaching up-and-coming writers or ambitious executives who want to write their own speeches. Offer ‘polishing’ services where you alter someone else’s content rather than creating it on your own.
Day-to-Day and Growth
What happens during a typical day at a professional speech writing business?
Speech writers may participate in the following daily activities:
-
Marketing to new clients
-
Researching industries/markets
-
Composing speeches according to client specifications
-
Giving feedback to clients
What are some skills and experiences that will help you build a successful professional speech writing business?
Most people who jump into this business are already writers. Experienced writers already understand how to link ideas in a logical manner, which can make getting started much easier. However, what really matters is the ability to inspire. Some people are naturally able to convey their thoughts and ideas in such a way that makes people want to listen. In that case, they may not need any kind of formal training to transfer their passion to paper. And while formal education may not be a requirement, many clients will be looking for someone with at least a bachelor’s (if not a masters) degree.
What is the growth potential for a professional speech writing business?
This is a highly specific skill that is not necessarily translatable across all writers, so the growth potential is high. Like any type of creative writing, there’s a lot of leeway for a writer when it comes to how they structure their speeches to achieve the most impassioned reaction. Those who hit the right combination will find themselves in high demand.
What are some insider tips for jump starting a professional speech writing business?
If you’re already a freelance writer, consider marketing your new skill to existing clients. After all, you probably have some insider knowledge about their company. Mention that you’re available if they’re looking for someone to craft an in-depth speech that really speaks to their audience. In the same vein, may also want to give some thought to specializing in a particular niche for speech writing. Focusing on one market (e.g., CEO-level speeches only, etc.) can make it easier to develop your brand.
A speech can go a long way to instilling values in a crowd. Your goal is to show people why your words coupled with the speaker’s enthusiasm can be just the driving force a client needs to turn things around. Not only should you have excellent sample speeches available, but also video footage of how the speeches come to life at the podium. (If you’re just starting out, you can video the speeches yourself.)
You can also start offering your services for free to community organizations who may want to promote certain causes in any given area. Public groups such as Toastmasters will give you a chance to both write and deliver your speeches, so you can learn what people respond to and why. Analyze famous speeches to see why they succeeded where others failed. Read relevant books and develop a relationship with a speech writing mentor in an effort to get a better foundation.
How and when to build a team
Once you reach a point where you can no longer handle the demand on your own, you may want to hire an assistant to help you research your speeches or even to rough out the first draft. Look for people who understand how to make a crowd connect with an idea.
Part 2 - Is a Professional Speech Writing business the right fit for you?
Business Evaluation & Strategy Tool
We'll walk you through the four pillars every business needs: Points of Leverage, Marketing Strategy, Financial Model, and Personal Compatibility. At the end you'll see a personalized report and your action plan below will be tailored to your answers.
Step 1 of 4 — Points of Leverage
Every viable business has natural advantages. Below are common leverage points across four categories. Pick the ones that apply to your Professional Speech Writing business. We've pre-suggested a few based on your idea — review and adjust.
Step 2 of 4 — Marketing Strategy
Without a way to connect with customers, even great businesses fail. Pick the channels you plan to use to reach your customers.
Step 3 of 4 — Financial Model
Enter your monthly baseline costs — the minimum overhead to keep the business running. Then we'll calculate how many sales per month you need to break even.
Step 4 of 4 — Personal Compatibility
A business that doesn't fit your life will fail no matter how good the numbers look. Tell us how this business fits you.
Your Professional Speech Writing Evaluation Report
Complete the four pillars and your personalized summary will appear here.
Points of Leverage
Marketing Strategy
Financial Model
Personal Compatibility
Part 3 - Action plan to launch your Professional Speech Writing business in 90 days
Nine concrete steps to take you from idea to open business, grouped into 30-day phases. Complete the planner above and we'll highlight what's most important for your situation.
First 30 days — Foundation
-
Form your legal entity
An LLC keeps your personal assets separate from business debts and lawsuits — the most common reason small business owners choose this structure. Sole proprietorships and partnerships do not provide this protection.
-
Get an EIN and register for taxes
Apply for your free Employer Identification Number through the IRS, then register for any state or local taxes that apply to your business (sales tax, franchise tax).
-
Open a business bank account and credit card
A dedicated business account is required to maintain personal asset protection. Mixing personal and business finances ('piercing the corporate veil') can void your LLC's liability shield.
-
Set up business accounting
Recording expenses and income from day one makes tax filing easier and lets you see when the business is actually profitable. Use software (QuickBooks, Wave) or a part-time bookkeeper.
Days 30–60 — Compliance & Risk
-
Get permits and licenses
State and local requirements vary widely. Brick-and-mortar businesses typically need a Certificate of Occupancy; service businesses may need specific professional licensing; food businesses need health permits.
-
Get business insurance
General Liability Insurance is the most common starting point. If you'll have employees, most states require Workers' Compensation. Specific industries need additional coverage (product liability, professional liability, etc.).
Days 60–90 — Launch
-
Define your brand
Your brand is how customers perceive and remember you. A clear name, logo, and visual identity make every later marketing decision easier and protect you legally as you grow.
-
Create your business website
Every legitimate business needs a website. Social media pages are not a substitute — you don't own the platform. Modern website builders mean you can launch a clean site in a weekend without a developer.
-
Set up your business phone system
A dedicated business number keeps your personal life private, makes the business look legitimate, and lets you route calls professionally. Cloud phone services start under $20/month.