Interested in shopping for and marketing websites, AKA flipping? The conception of flipping is misleadingly simple: purchase one thing, build it way better, sell it for profit. but have you ever really considered doing that with a website? probably not-but you better believe it's a very profitable industry!
How to take advantage of website Flipping
Buying and marketing websites for profit is very good investment for the twenty first century. whether or not you’re simply moving into it and have your eye on an honest domain, or seriously wanting to expand your business operations, shopping for and marketing digital assets is remunerative and comparatively low-risk. Betting on the market and your specific niche, you may be onto something very big.
Creating, or taking advantage of web site flipping suggests that that you have to have digital work experience, programming skills, or web development skills.This is not true in any way. Here are 9 extremely well tips for web site flipping to help you succeed and build a healthy profit, these can also be considered pro-tips for those 1st time consumers out there.
1. Recognize that it's time to move on
Many people hold onto their internet assets for way too long, just letting them to decay and wither, when in all reality some other person might have been able to drive it towards success. If you are serious about succeeding in any business, you better be all in. This is the future people, we have to be out in the world innovating, thinking, and doing whatever it takes to secure your website’s future. If you have absolutely zero motivation and don't really care about the direction your web site is headed, then you won’t be doing anyone a favor by clinging on. Virtual businesses rely heavily on their founders being forward-thinking and innovative: The trade is continually changing and always will so i guess what i'm saying is you really need to change with the times or at least keep up with it.
Some smart reasons to move on:
- New assignments leeching all of your time/you need to explore a different direction
- Lost your touch and can't vision yourself taking the website any further
- You have accomplished all you thought can be done/things have got as good as it gets
- You need the flow or cash, without the constant stress and headache
- Life reasons, everyone knows life happens (to say the least)
Discuss your reasons for moving on with any business partners or associates, and be very honest about your reasons if asked. Pretty much at the same time, you really have to make good decisions (and the right ones) for yourself, even if others aren't happy about it or agree with it. For instance, Rand Fishkin recently left Moz, the corporation he founded! Crazy (huge) decisions are never easy for anyone, but sometimes stepping down the ladder of success can be super important just so you can move on.
If you’re positive that marketing and flipping websites is really for you, then go full-scale in making an attempt to get what you think your business is worth – you owe it to yourself! Take a few months, tie up all the really-really, lose ends (haha-everyone has them) get your site running tip top shape and sell it. Boom!
2. Marketing or Selling Websites? Consumers will never be sympathetic.
Buyers are and always be in it for the cold hard cash. Sorry, this is something that is almost always true in the flipping websites industry. They're there hoping to take advantage of the acquisition of your web site, therefore making sure your site is fully functional in every way from start to finish is very important. Even struggling to keep up with the management of your website, or with other life problems like (family), always keep things like this out of the websites "sale" conversation. WHY, because people do not have sympathy, they really don't care.
They are really just looking for an honest deal and can sometimes ask you a large amount of robust questions, therefore ensure you've got all of your documentation, and be ready for conference calls,Skype calls and emails,etc. When it comes to flipping websites,buyers can sometimes be aggressive if they see one thing they actually need or want, so just ensure that you have what it takes to hold your ground and make any negotiations worthwhile.
3. You need proof in this industry. "flipping websites"
There’s a substantial amount of data that buyers look at before purchasing a website. Analytics, sales, domain authority, back-links. This list never stops. This is when you really need to be open and honest about all of your websites metrics. When i say metrics i'm talking about social media accounts and engagements, sales, you get the idea. If you’re buying or selling a website, make damn sure you have 100% access to all of it, if you have to hire an expert to analyze and possibly interpret all of your data. This isn't a must, but what if your buying a website for $5000? You would probably ask more questions that you think.
Be extremely careful about all of the SEO (if any) that has been done on the website, you might be inheriting some really bad habits! Again, make damn sure that the website your purchasing has a back-link profile that is in the positive, with good traffic, authority and keyword rankings.
4. Find out why they are selling (sometimes you just can't).
The reasons can range from personal, to financial, you may never know. The reason could be because the seller knows it has a major flaw and it will fail (in their eyes). Is the concept flawed? Did google penalize the site? Could there be a ton of negative press surrounding the site?
When you are trying to buy a site, having an open conversation with them is not out of the question. It's really just like buying a car. Ask questions like: is there anything wrong with it? Why exactly are you selling? Have you had any major drops in traffic? Once again, this list is endless. Here is a list you can check out that is almost perfect. (What questions to ask before buying a website). You might find out real quick after talking to them if something is right or wrong with it.
5. Selling websites: Brokers vs. Do it yourself
There are countless ways to find great websites for sale, but the most common methods are an internet or website broker, or going DIY (do it yourself). First off you seriously have to think abouut how much you value your money, and your time, and if a broker actually be worth it to you. These days a simple google search will help you more that you know, well..Unless you already knew that of course.
Website brokers usually have great reputations and are not very hard to find, but they usually only have a list that is curated to fit their company, and of course you can guarantee that there is a nice little fee if they find you what you want. (who does this?..Really)!
Using all of the good old social media sites (all of them) and various forums like Exchange is a good option if your a newcomer to all of this and have enough courage to go out on your own. Another great option is flippa.com. This is my #1 pick. The reason is this: The transparency they have on this website is tremendous. You can view any and all sellers on this website marketplace, reviews, how much earnings they have accumulated since being with flippa, etc. Flippa is actually a great place to start if your selling websites, and lets not forget about buying too. What will really get your heart pumping in viewing some of the sellers that have been on there for years. Check out their profile and you will see they have made hundreds of thousands of dollars selling established and turnkey websites. Just like the ones found here on our website.
6. The niche may be crashing out.
A good example is fidget spinners, this niche is crazy viral right now, but who knows for how long? It is always mouth watering and tempting to just jump on the old bandwagon and buy all of the best domains that are relevant to this niche, but throwing all your funds into an unknown fad can be risky. On the other hand,if you have the funds, determination and risk factor running through your veins a similar niche site could be a god rush if you play your cards right.
Another factor you might want to look into is, are there thousands of other competitors in this same niche? Are they already established? Are they growing? – This could be a very well painted sign saying that your fidget spinner site is ready to go down. Just be smart and remember this before you by your first website, or any after that. I still do my research to this day. Some of us had to learn the hard way and this is the very reason for this blog post.
7. Amazing content will eventually win the war
When your looking to purchase a website your already thinking of ways to make it better (everyone usually does this in the beginning) , 95% of the time this means you will have to create an endless amount of fresh content, which also means dipping into your funds to hire freelancers to do it for you, unless of course you are going to be a graphic designer, web developer, front and back-end developer. This is where you have to remember you don't have to be all of these things, just a website flipper remember?
So if you don't have all of these skills you really want to stay away from sites that need them correct? Yes is a great answer. Some long time website flippers understand that redesigning a website is sometimes needed (and it is) and others will tell you "what is the point of being a website flipper when you have to redesign every site you are buying" "Chris G Kinney". So you really have to options here: 1. Buy all the cheap websites with spun articles and design flaws, no traffic, zero authority, poor back-link profile, and do your best to fix it, or. 2. Buy and sell websites with the complete opposite attributes. Sure your going to run into a problem here and there, but that's all part of the business, but why would you intentionally purchase a website with problems.
8. Think about the demand, interest, and niche potential
When selling a website (and of course, when purchasing one), you have to consider how a niche is going to develop in the future. Don't just simply look at the site and think "wow! This is a really cool idea", but seriously think about it's possible potential and what it could be in the future. What would it be in 2,5,6,7 years from now. Is it website that people can't live without? What can you do so it is a website some can't live without. You get my point?
Remember my little example about the fidget spinners? They're popular now, but what happens when a million websites start selling them (they already are) and all your friends have 3 or 4 of them. Bye, Bye!
9. When selling websites, extras sweeten the deal.
The sale of a website will rarely just come with the site itself – they normally include suppliers, email contacts, some come with inventory or stock, assets, data and numerous files, hosting, contracts with affiliates, and social media accounts. Keep all of this in mind, and don't make the mistake of thinking your buying a website that all you have to do is log into it and Boom! Your successful. There is a lot going on with a successful website.
Having the experience of buying your first website is simply amazing in every way. The same feeling comes with buying, selling, and flipping them for profit, this is an industry that is only growing and easy enough that anyone can do it.
Have any thoughts, questions or comments on this post we would love to hear them.
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