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If sucesfull business, you can outsource BUT.
Are you getting leads/sales from organic traffic now? How much? Crossing that with how the sites ranks now can be useful to potential gains proyection.
While being a ex agencies SEO and now freelancer (and some time inhoused) i find inhouse the best option. It can be even more cheap than a lot of agencies.
Agency: depends. Some do really good job, some will price premium and leaving you with juniors working the campaign (surely if youre not a top fee client).
Freelancer: useful for trying. Getting a good one is hard, and the best route is asking references. You can deal a cheap campaign for a time and the analyze if worth it. Long term you can extend it to a more ambicious campaign or a less one.
Inhouse: more expensive. With the right SEO, it would be my prefered move. Would work exclusive/ish for your company, it compensates with the more flexible but (surely) with more campaings in the head freelancer SEO.
DIY is not a bad option, though, if you have time to spare.
