#freelance-gigs
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Thread
Hey awesome freelancers - does anyone else track their overall GP% & net profit %, and are you comfortable sharing? I'm finding as my business grows my revenue is going up but so are my expenses, so just wondering what a good target is for a content writer. My whole career has been client side in manufacturing where 30% margins are pretty standard however obviously it is vastly different for a content shop with very small overheads. Cheers
Sort of. I have tried tracking margin, but because I don't outsource, it's not very helpful for me.
What I have found helpful is to track total revenue, and internal hourly rate. I recently did this on a per-type-of-project basis, which was quite eye opening:
I don't have any graphs but happy to talk around it if you have any specific questions.
As my income has gone up, my expenses have only gone up slightly where I have needed to outsource. But never to the point where the margin is impacted.
If I ended up making less profit by outsourcing, I'd either change how I bill, my rates, or think twice about taking on more work.
The same applies for additional tools. For example, if I needed to pay £100 for an SEO tool each month, that would need to be split across my clients so I wasn't taking the hit.