There are two main forms of freelance writing:
Writing for submission – This is where you write in your own time, and submit your work to publishers/magazines/web sites. You can write anything that you wish, and it will either be accepted or (more often than not!) rejected. You need to make sure that you submit the work to the most relevant potential publisher. (E.g.: Send a children’s story to a children’s book publisher)
By writing for submission, you have complete freedom to write as you wish, but there are no guarantees your work will get published.
Writing regularly – This is where you have a role (similar to an employee) creating regular work on behalf of a publisher, magazine or website. You will be likely to have a set amount of work to write (E.g.: One five page short story per month), and may be given set topics or styles to write in. You are likely to need to meet a deadline for each piece of work.
By writing regularly you have less freedom over your work, but will be able to make a steady income. This form of job can often arise from writing work for submission that is successful.
A successful freelance writer can earn a lot of money, but you will need to be able to write at a high standard regularly to stand out. Remember that there are literally thousands of areas of writing; you may have specialist knowledge in a subject, or be creative with words. You need to find the subject and style that is right for you to become most effective.
One of the most effective ways to promote yourself is to send good quality work for submission; most publishers will not actively search for freelance writers. You may also want to set up a website detailing your abilities and the kind of writing that you do, that you can direct publishers to when you submit work.
Pro:
Submission writing gives you the freedom to write at your own pace, and in your own style.
There are almost no costs after buying equipment and software.
Con:
You are responsible for meeting deadlines and maintaining quality at all times.
There is little in the way of working with other people.
You will usually be writing for someone else, on subjects they require, in a suitable style for their audience, be that a publisher, magazine or website.
Skill Level = Varies, mainly Medium to High
Start up Costs = Low
Training = Mainly Short Courses
Experience = Little required, but it will help considerably
Equipment Costs = Medium
Transport Required = Not usually
No of Staff (incl. you) = 1