We’ve heard it many times, and maybe you’ve thought it: “It’s well and good to train people to freelance, but at some point the market will be flooded. At some point there will be too many freelancers and we’ll all be working for minimum wage!”
We hear you. Maybe you’ve read the testimonials on our site and wondered: Is there any room for *ME* if all these people are already successful? But before you get too invested in such a dire prediction, let’s take a look at the facts.
There will always be plenty of room at the table for freelancers. Read on to find out why we’re so confident…
First: There Are Fewer Freelancers Than You Think
People generally don’t worry that new graduates of med school are going to “flood the market” with doctors. In fact, that’s not a concern people have about most professions. So it’s hard to figure out why people jump to the conclusion that there are too many freelancers.
Is it because our ad on Facebook or Instagram have popped up a few times? And now you’re thinking everyone and their cousin is getting the same ads?
Here’s the thing: the internet shows you what it thinks you want to see. If it thinks you’re interested in freelancing, it’ll make sure you get tons of content related to freelancing. And while that makes it seem like there are just way too many freelancers out there, the data doesn’t bear that out.
Secondly: There More Opportunities Than You Think
If you’re not concerned about too many freelancers, maybe you’re worried there aren’t enough opportunities.
But the truth is there are far, far more companies and organizations than there are good freelancers to help them!
In fact, Forbes published an article in December 2021 entitled “The Freelance Revolution Has A Supply Problem, Not A Demand Problem.” We looked up the numbers and we definitely agree. The most recent statistic we found (2019) says that there are 32.5 million businesses in the U.S.
That’s not even counting the U.S.-based nonprofits (1.5 million). Or the 534,000 new businesses that are opened EACH MONTH.
And when you consider how many more opportunities there are worldwide, the idea of “too many freelancers” and “not enough jobs” starts sounding even more ridiculous.
Even if only 10% of businesses work with freelancers, that’s still more than 3.25 million businesses. And that’s assuming they only work with one freelancer! Many businesses work with multiple freelancers, including multiple freelancers in the same industry. (For example, a company may have the need for three graphic designers, or two copywriters, or … you get the idea …)
Third: You Don’t Need As Many Clients As You Think
It’s difficult to know how many clients you’ll need to work with each month to hit your income goals (especially when first starting out). And even though it depends on your rates and your industry, the number is likely lower than you think.
How many projects do you think you can reasonably work on each week? If the answer is about two, that means you only need eight clients to fill your roster.
And the number of new clients you need to find decreases over time as you set up retainer agreements and re-pitch past clients.
So don’t let fear cloud out the facts. Even people who mean well can spread myths.
Freelancing is a huge career opportunity, and it will remain so far into the future!
Your turn! Has this information changed how you feel about freelancing? If so, how? Let us know in the comments below!
Last Updated on July 1, 2023 by Craig Galo