Did you know some websites are worth more than your house? Isn’t it crazy? Recently, in my recommended platform. I’ve been reading about some members cashing out their websites for big bucks!
Unlike a house, you don’t need a lot of money to start a website or to buy an established website to flip for more money. In this article, I will cover how to buy and sell websites. Without further ado, let’s dive right in!
Tip #1: Buy Low, Sell High
When buying a website, it is important to try to bargain for the best deal possible. Nobody knows what you will be able to sell your website for in the future. By purchasing a website for a price you know is less than what it’s worth. You’re going to start with positive equity.
You’re probably wondering why would someone sell their website for less than what it’s worth. Well, things happen in life that causes people to give up on their venture.
How to identify potential sellers that are willing to sell their website for a bargain:
- They are not making enough money from their website.
- They are inconsistent with improving their website.
- They are treating their website as a hobby.
- They just flat out don’t have time to continue to work on their website.
Note: When buying a website, just buy the assets to avoid liabilities such as lawsuits.
By understanding your potential seller using the list above. You can leverage it and ask for a good price where you’re likely to make money. You can find websites for sale by clicking here.
Tip #2: Don’t Put All Of Your Eggs In One Basket
Before you buy a website, you should ensure that you can grow your readership in one of the most popular Social Media in the world. If you guessed Facebook, then you are correct! Facebook has been a huge traffic source for my blog. By building a fan page, you can drive lots of traffic back to your website.
I’d double check with the seller to see if he or she has a fan page set up. If they do, you can continue to build on that or create your own page.
Tip: Test an advertising campaign on Facebook! You can create an unfinished ad, enter the target keywords and demographics to generate how many people you can potentially target. Preferably over a 3 to 5 million potential targets.
How To Set Up Your Facebook Campaign:
- First, head over to Facebook Ads Manager and create a new campaign.
- Next, you need to choose the objective. What are you trying to accomplish with your advertisement?
- Scroll down and you should find yourself with options to do A/B split testing. This basically allows you to see the performance of different ads (videos, pictures, texts).
- Finally, select a name for your campaign!
The rest is pretty self-explanatory. Keep in mind, when choosing who to target, you want to use specific keywords that are related to your website. If you have a how to lose weight website, you wouldn’t want to use keywords like Mc Donalds or cheeseburgers.
The point is, if you can build a successful Facebook fan page, you will have more ways to drive traffic to your website. Do you need to pay for ads? Not at all, you can leverage organic traffic from Facebook as well. It’s just faster if you pay for ads haha.
Tip #3: Growing Is Easier When The Foundation Is There
When starting an online business, the hardest part is not setting it up and launching it. The hardest part is building a readership and getting traffic.
When I first started Smart Affiliate Hub, I was struggling to get 100 visitors a month. Now getting 10,000 visitors is a piece of cake, but getting past the six-figure mark per month is like climbing a mountain with a sprained leg.
However, you’ll notice as your monthly visitors grow, it gets a bit easier. For example, when I had 100 visitors a month, it took a while to get 1000 monthly visitors. However, once I got 1000 visitors, it wasn’t as hard to get 10,000 visitors per month.
For that reason, I wouldn’t buy a website with barely any traffic. Ideally, you want to purchase a website with minimum 50,000 to 100,000 monthly visitors. This allows you to grow that traffic instead of building it from the ground up.
Tip #4: Write High-Quality Content
Now that we’ve covered growing traffic, let’s go over growing a website! Blogging is a great way to build a readership. Literally, every major company in the world have a blog of their own.
Besides paying for traffic, great content can be promoted on Social Media and can also be found via Google search. Click here If you want to learn how to write high-quality content that converts into sales.
Tip #5: Build An Email List
Regardless of what industry you’re in. Email marketing is a great way to build a readership as well as reaching out to potential customers.
First, you must provide a lead magnet, an offer that provides an incentive to your readers. Give them a reason to provide you with their name and email address. With contact information, you can then send them emails if you have any special offers.
Example: When I purchased a product from *make believe company*. I would receive an email once or twice a month with their latest offer. From viewing the email, I would consider buying something from them again.
Tip #6: Be Willing To Put In Time And Effort
If you really want to make money buying and selling websites. You will need to put in the time and effort to make it happen. A website will not magically increase in value if you don’t do anything with it. Do you want to buy a website and sell it for much more? You will need to use the tips above #6 to grow it!
If you don’t have the time, you can always hire someone or ask a friend to help you. However, make sure you give him or her a percentage of the profit. That way, you’re still profiting after spending the initial cost and whoever is helping you will also make some money for his or her work.
Tip #7: Don’t Treat This Like A Form Of Gambling
After spending some time scaling your new website. You’re probably wondering when it’s the right time to sell it. Personally, I don’t sell anything that’s worthwhile.
Even if someone offers me a large sum of cash for Smart Affiliate Hub, I wouldn’t hesitate to turn down the offer. However, since we are talking about how to buy and sell a website. I will suggest that you consider selling it once your website’s traffic begins to show signs of a slowdown.
Don’t wait too long during this process because you never know how far it will continue to decline. Don’t risk it like gambling, while you’re up, just sell it. Similar to buying your website, you can go back to the same vendor and sell it back.
The problem with buying and selling websites is that you will have to work extremely hard just to earn a small profit. That’s why I’m not in the market to buy and sell my websites. Instead, my websites are earning residual income for many years to come. Sure, I won’t get a lump sump of cash, but I will earn much more than selling it off.
Example: You sell your website that is earning $1,000.00 per month. Someone buys it from you for $12,000.00. Sure you’ll have $12,000 right away, but you would earn much more if you had your website for more than a year.
Who knows, by then you might make more than $1,000.00 per month.
If you’re willing to invest money and time into growing a website just to sell. Why not create one that you will have for years for the cost of a domain name and a website hosting provider?
Do you have other tips that we should know before buying or selling websites? If you do, please leave them below!