The range of income for the first year will be dependent on how much you would like to work. Transcribing legal documents is extremely lucrative. Most firms pay an average rate of $2 per page. Most documents are double-spaced and at 60 wpm you would average 12 pages an hour.
You could also expand your endeavors to the point of locating the clients, managing other transcribers and negotiating 25-50% of their rate as your fee.. That would give you unlimited income and eliminate the need for you to actually do the work yourself.
Companies that need occasional transcription services would have projects such as manuscripts, legal events such as depositions and court reporting. You would need to capture the documents.
Your clients are legal firms, state, county and federal legal departments and publishers. Also, you’ll find that college campuses have professors and students who need their documents captured.
Your services would allow them to hire you as the need arises.
Your marketing plan will be based upon targeting either legal service providers or publishers. Join leads clubs in order to obtain personal introductions to firms that would use your services. These personal introductions will provide you with much more rapid access to new clients.