Website Flipping took its concept from the stock market and real estate industry. Buy a house at low cost, make a little improvement, and sell it for profit. Making money online with website flipping is certainly more challenging but can net you a lot of cash. Unlike house flipping, there are more neglected websites with a lot of potential to make money. Either the owner moved on to something else after realizing the complexity of maintaining it or it was built as a hobby, became popular, but the owner choose or doesn’t know how to monetize it.
How much money can you make from website flipping?
A simple answer is; your website is worth by how much someone is willing to pay for it. It’s really hard to determine a selling price. But it should be an amount you are happy to go home with. Factors that you might want to consider are your total investment (which should include your time for maintaining it), how fast is it growing, potential future earnings and the competition (salability).
EBiz Brokers state that a website should be worth three to six times its earnings before tax. So if your website’s profit is $20,000, you can sell it for $60,000 to $120,000. You can visit Flippa.com and eBizBrokers to see how much websites are being sold.
How to get started
The first step involve is to look for a website that is getting reasonable amount of traffic. It should be something with great potential but underperforming. Ecommerce sites that have earned a good amount of visitors but the owners are simply not interested at optimizing it. They may not be good at search engine optimization and Internet marketing or they simply have no time for it and are willing to sell their website.
Once you find this kind of site, you can perform some changes by filling up the gaps with SEO and some other marketing strategies to improve the site’s performance. Once you have achieved a certain level of performance, set it up for sale.
You can also look for a community driven sites or forums. Usually, these sites were started by hobbyist whose intention was just to form groups of like minded individuals. When it starts to gain a lot of traffic, the cost of serving it on the Internet also costs them more than what they are willing to pay for. Since they are not skilled at search engine optimization, they may be willing to sell it at a bargain price.
You can also purchase a site for its domain name disregarding its content. A domain name with a good and popular keyword has the potential to make it on top of search results. For example, “cheapest flight” is being searched globally for 9.140 million times in a month. Check if there’s an existing domain like cheapestflight.com or cheapestflight.net. If there’s an existing website with that domain, see how the website is performing and maintained. If you find a good potential from it, contact the owner and make your offer.
When you finally agreed with the seller, proceed with the technical details such as: transferring the domain name registration, hosting ownership and third party software. Prepare the contract and download the email list if there’s one. And then talk about the support you will be expecting from the seller during the transition period.
How do you sell?
You can go to Flippa.com or SiteSell.com to advertise your website. Whatever technical details that you went thru between the previous owner is the same process you would expect to go through when selling your website.
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