One way of making money online is to buy and sell websites. This can potentially be quite a profitable avenue, but it also requires commitment as there can sometimes be quite a bit of work involved. This article looks at how to buy and sell websites online so you can work out if it is the right option for you.
Firstly, you need to know what sort of websites you might like to buy. Ideally, they should be the sort of websites you already know a bit about so you can develop them, improve their search engine rankings and increase your chances of selling them on for a profit. Visit sites such as flippa.com, where you can see the types of websites for sale. Typically, they will include blogs, niche sites, paid membership sites and forums.
Once you have identified the type of website you would like to buy, you need to work out if what’s on offer constitutes a good deal. If you are interested in buying a website that’s up for sale, get in touch with the owners of the site. Find out what their monthly expenses are, how much time they put into running the website, why they are selling the website and any other relevant details. This will help you work out whether or not it has potential and if it’s something you would be interested in taking on.
Then, once you have decided that you want to buy the site, you actually need to buy it. This can usually be done through PayPal. Bear in mind that if you purchase a website through an intermediary site, the intermediary might add on an extra charge. One option when buying a site is to split the money you pay in half, so you pay half when you buy the site and then half a couple of months later but only as long as the site is still performing as the previous owners assured you it would.
Your next task is to set about improving the website to boost its value. You should budget for any expenses here as well so you know how much you will be spending (having a budget is a really good idea). This could include implementing a good SEO strategy to boost traffic and business, or re-writing the content of the site prior to re-launching it in a bid to get more business. This process might take you a couple of months, or it could take you years depending on the site, so you need to stay dedicated to it.
When it comes to selling the website, you need to be able to prove that the site is profitable so people will be interested in it. You should also make it clear why you are selling it, as potential buyers can be put off if you are cagey or don’t give them a satisfactory answer. Don’t put the asking price too high, either, or you’ll be pricing yourself out of the market – do some research to see what similar websites are going for so you’ll have a guide price in mind when it comes to selling on your site.
