Website Flipping Business ! Flipping websites isnt like flipping real estate. You purchase unprofitable digital property then improve the value of it then resell it for profit. This business is low risk for entry and it requires only small expenditure. Also the benefits from job well done as well as lucrative payoff can help make it worthwhile.
How Does Website Flipping Work?
The principle behind flipping websites is in the event that you purchase lower cost website then improve it then sell it at an enticing cost. Be aware that its not so simple as it seems. Theres plenty to do in the purchasing repair resale or purchase procedure. However if youre knowledgeable about the ropes then you could earn incredible cash. If youre shy person who prefers working on your own. If so then flipping websites could be the perfect new job activity for you.
Start by selecting the right website. Then youll need undertake detailed internal investigation of the websites SEO backlinks its traffic sources as well as income sources. The information you gather will assist you determine how to improve the site to improve its value.
Naturally you cant finish your task in single day. At minimum you should take 5 8 months to improve website before it is able to bring the huge amount of money youve earned. If youre considering selling websites for way to earn passive income then youll need be working on several sites at the same time. Youll be surprised to learn that its possible to offer your flipping site for over 50 times the amount of revenue it earns per month. Excited? Now without further delay lets begin with the basics to flip websites.
5 Steps to Start Website Flipping Business
This article will cover all you need to know how to flip websites successfully.
- Locate site to turn
- Get your first web site to sell
- Change ownership to the site
- Enhance the web page
- Make money from the site
The Easy Parts of Starting Website Flipping Business
One of the attractive features of website flipping is the easy business model. It is possible to purchase an existing website make improvements to it and offer it to sell for profit. It is easy that anyone can have the chance of creating an effective business even with minimal or no entrepreneurial experience.
Furthermore the site flipping business requires minimal amount of capital investment. It only requires few of dollars for starting in the event that youre constructing websites completely from the ground up. There is also the possibility of stealing old websites that offer good profits possibility for around hundred dollars.
Given that theres practically no expenses the business is one of the lowest entry barriers in terms of capital investment. If youre determined to make money flipping websites and want to make profit it is recommended to start company prior to the time. If youve never tried such thing consider hiring the firm formation company.
If you want to know the best way to make money from this business go towards one of internet marketplaces that are specifically designed for flipping sites. Platforms like Flippa let you easily advertise your website and locate potential buyers with only couple of steps. If you use Flippa you are able to engage broker who can help you through the tricky aspects of selling your site.
Theres huge market for quality sites that earn money. Unfortunately such websites are becoming more difficult and difficult to come by. So companies and even individuals will pay the highest price for successful web site. It is possible to do exceptionally well in the event that youre gifted to create websites that are highly effective.
The Difficult Parts of Starting Website Flipping Business
It is important to be patient in the web based business. If youre in it for the quick gain it is better to look at other options for business. The process of flipping site requires at minimum two months if luck is on your side. It could take it can take up to 2 years in certain instances. Additionally that your SEO effort will require time to reap the benefits. This means that youre playing the long term within this industry.
The web building business is also heavily based on knowledge and this can pose an issue for certain people. The skills you need are at minimum knowledge of web design content development SEO for user experience lead generation as well as the ability to use data. Naturally you could overcome this obstacle through outsourcing those tasks for which your skills are not sufficient. However it could reduce the profits you earn.
In the end there arent any guarantee in this industry. It is entirely at the discretion of what customers will spend for your site. It is also possible that youll fail to purchase particularly in the beginning. It is possible to commit costly errors however theres also the chance to gain valuable knowledge to use for the future.
If youre looking to jump involved in the business of flipping websites This article will show you how to follow the steps step by step.
Step 1 Find Website To Flip
Making your websites first step is difficult and enjoyable. It is however the most critical step and needs careful consideration. mistake made at this point can result in the loss of your time and cash prior to starting. However there are few points to bear in mind while searching for your first website you want to make profit on.
Buying vs. Building
The most important decision to make is to decide whether or not to develop website. Every option comes with pros and cons. As an example creating websites from scratch can be economical. The only cost is only few dollars for web hosting. You can also make the site entirely yourself If youve got the expertise and experience.
A further benefit of creating an online site is that it allows you to be completely free. You are in complete control of your websites content domain names as well as monetization. If you follow the right steps it is possible to create and develop valuable site but it may take the time.
We strongly recommend purchasing site instead. In addition you can get it faster. It could take as long as 2 years to transform the page of new website is being built completely from the ground up. Furthermore website that is already in existence however bad is has already been indexed by the search engines. It could be some time before brand new website is listed on Google results.
Choose Profitable Niche
Theres myriad of choices in the purchase of websites. Therefore choosing specific niche will help you narrow down the options. niche based approach will make the process of purchasing easier. The buyer will have an idea of what to search for when buying site.
The most lucrative areas to look at are:
- Cooking and food
- Travel
- Personal development
- Business
- Technology
- Well being and Health
- Technology
Its helpful to have particular area which youre in love with or are fascinated by. Knowing the basics or experience of specific areas can make it easier to develop content and create an effective marketing plan.
It is also possible to choose micro niche. This is an excellent strategy in terms of profit but its not done properly. As an example you could select site that is focused on keto friendly diets or recipes for vegans in the general cuisine and cooking category.
Create Website Buying Checklist
Like flipping houses it is important to research the site thoroughly prior to making purchase. An inventory will allow you to decide if youre getting an excellent bargain. It is not recommended to use price as the primary determining aspect. The old saying goes that you only pay for what youre paying for.
Here are few factors to consider when putting together the buying checklist on your website:
Domain background The history of domain is among the main considerations when you are looking at websites. It is important to ensure that the site isnt associated with any fraudulent activities including spamming or similar shady business transactions. Additionally make sure whether the site hasnt been disqualified by Google or other search engines.
Content that is of high quality Content that is of high quality is one of the SEOs top methods. But the process of creating content can be labor intensive and expensive. Therefore many webmasters take shortcuts on this aspect. It could lead to getting penalized by search engines. The ideal situation is to completely overhaul your websites content. Its just matter of improving the site and include more information. Find out whether the contents are susceptible to copyright concerns.
Traffic to websites Youre looking for an online site that can bring in good visitors. This is why you should examine more than the number of visitors. In particular you would like visitors from top quality places such as Canada the USA Canada and the UK. In addition you would like to have majority of organic traffic that comes from trusted sources such as social media.
Platform Make sure to check with the platform that powers your website. WordPress is the most popular platform used by website flippers. WordPress websites are simple to keep up and selling well on the market. Additionally it is easy to locate experts who can aid you with the maintenance of your WordPress site.
revenue This is one of the most important factors when purchasing site. Learn how much income this website earns. Additionally consider the possibility of earning revenue from the site.
Step 2 Buy Your First Website To Flip
The purchase of your first site may appear simple. However its actually one of the more difficult parts of running company. First you might want to use Google to find websites that rank highly. However these websites that are performing well could be costly. The websites owner is already working many hours into their work but are not trying to make profit.
There are plenty of choices.
Choose Website Marketplace
The marketplace for websites is one of the most straightforward sites to purchase web site. It isnt necessary to spend precious time determining if the website owner is interested in selling their website.
Website marketplaces also let you customize your search to make it simpler. In particular you could look up websites in the marketplace according to your favorite area of expertise. There are lot of choices to choose from we strongly recommend the Flippa.
The platform is major market share. It will increase your odds of finding the ideal website for makeover. Additionally you could later change the sites appearance on this same platform. Flippa is also extremely simple to navigate and use.
Flippa isnt charging you for purchasing site except to cover the fee charged for processing payments. Flippa will also store your funds in Escrow.com in order to make sure that you have all you require prior to the seller gets your money.
Opt for Solopreneurs
Websites run by group of professional experts can be priced too high to make feasible to sell. They have invested many hours of effort and should get paid for it. Additionally they typically exhaust the webs capabilities which means theres nothing that you can do about improving the sites performance.
A majority of online marketplaces display information about the proprietor. Also try searching for privately owned websites. Additionally search for hobbyist webmasters. Most likely they dont have lot of money invested in their website which means you have lot of opportunities there.
Furthermore some hobbyist owners might offer to sell their items for the lowest cost. Be sure to utilize your guideline from the previous section to determine the best site to buy.
Negotiate With the Owner
Theres always chance to negotiate within this industry. better price can be found just right around the right around the corner. Dont be compelled to buy at the price listed. There is good chance you will find an online site that checks every box and falls within your budget if you are willing to wait.
Flippa provides fantastic online valuation tool that is available to serve as reference. Contact owners directly to start discussions. Although determining the true value of website could be daunting the Flippa value calculator will give you an estimate of how much the website could have value.
Step 3 Transfer Ownership of the Website
A website purchase is slightly more complex than typical cash purchase. Therefore make sure to transfer the ownership of your website to yourself. In the event that you fail to do so you wont legally own the site. In addition ensure that the seller is actually the webmaster.
Ensure You Are Purchasing the Entire Site
This may seem as if its simple decision. However it is important to know exactly the items youre purchasing. The first step is to ensure that you get the complete website which includes the domain name contents including images databases mailing lists servers and more. Make sure you have comprehensive description of everything included in the package.
Draw Up Contract
Its worth your time and energy creating contract that both of you to agree upon. It will speed up any confusion during the transfer process as well as solve any problems that may arise. The agreement doesnt have to be complex.
However it must be able to cover important issues such as the people involved the transaction an in depth description of the site the cost payment schedule along with details on the transfer.
If you can think about including the clause of non compete. It is particularly important when you purchase the site from an experienced professional. It is possible for them to go on and build website that is identical to the one you purchased.
Transfer the Website Ownership to Yourself
Transferring ownership of website is an easy process. It can however get complex. It isnt good idea to sketch your process out any further than what it is required to be. The transition from being the owner of the website is supposed to be easy.
The most common process for transferring websites involves:
- To access hosting account
- Transferring the domains ownership to the domain
- Gaining access to all third party accounts for example Google Analytics
- Receive all the files related to your site including images and custom designed icons related to your websites style.
Flippa already offers an established website transfer process set out. This is another reason why you should choose the Flippa platform. It isnt necessary to be concerned about anything being missed during the process of transfer.
Step 4 Improve the Website
The meat of the entire process. This stage can either be the difference between success and failure for your business. Therefore it is important to be attentive to this particular step.
Making website better can be an enjoyable procedure. It is also guarantee of profits when you are doing it correctly.
Perform Thorough Audit
An audit of your website will aid in identifying any weaknesses which you can fix in order in order to make your site more appealing. Heatmaps can be fantastic method to take close view of the way visitors move across the website. They can help you identify the areas which areas youre missing out on and help you improve your marketing and sales strategies.
A website audit will highlight untapped SEO opportunities and also identify the most common SEO errors. Other SEO issues which site audit could aid in identifying include broken links insufficient tags as well as poor link building.
Start Creating Content
The most obvious first step to upgrading your recently acquired website is to create content. This includes making improvements existing content as well as updating it. In addition youll need publish lot of fresh material to increase your sites popularity in Google ranking.
Particularly you should focus on focus on search engine optimized (SEO) web page. SEO can help drive visitors to your website as well as help you get ranked in Google.
There is no need to be professional. There are plenty of no cost and paid sources that you can access on the internet to assist you in learning SEO.
Improve Monetization
It is necessary to go beyond Amazon as well as Google AdSense affiliate marketing to increase the monetization of your website. Though theyre common these techniques offer the lowest payouts among ways to monetize your website.
To this end think about exploring other methods of monetization like displaying advertisements for sale advertising space sponsorship content selling digital goods as well as monetization widgets and RSS feed advertisements.
Improve the Website Traffic
The improvement of your sites traffic goes along with the improvement of the way you monetize your website. Inviting more visitors to your site will boost your chances of revenue. The increased traffic will also make your website look more attractive when the time comes to sell.
Also consider variety of methods to boost traffic to your site. Common methods include using targeted keywords composing guest blog posts increasing your social media following by sending newsletters via email as well as exchange backlinks.
Step 5 Sell the Website
It can take while to allow SEO to produce positive results. Therefore we suggest waiting some time before selling your website. The majority of people wait between eight and ten months before selling.
However the length of time it takes to wait for is your choice. In the meantime you will be able to enjoy the income stream from the site.
Sell Your Site on Flippa
We also recommend selling your website on Flippa. This is peer to peer market which means you are able to communicate with prospective buyers directly. This model helps to eliminate many issues associated with working with brokers.
Alternately you could use Flippa recommended broker if youre not looking to rely on hand off.
Price Your Website
Many factors influence the price of the value of site. Most people are of the opinion that the value of website can be approximately 24 36 times the monthly income it earns. You can also make use of Flippas value tool to figure out range of what your site is worth.
This tool can also provide you with an idea of the factors to take into consideration when pricing and valuing your site. If youre doing this youll have take into consideration factors like the current age of your site as well as the amount of traffic it receives as well as revenue streams your expenditures as well as the time have spent on improving the website.
The Importance of Time
The median valuation is between 30 40x the monthly average which is why most buyers take the past 6 12 months to establish that average. This is why speedy improvement and strengthen the website is essential. As soon as the monthly revenues increase more the quicker the average rises more and the faster the turn is more profitable. It is important to be punctual in order to ensure that those changes to the site purchased be effective.
Most flippers will wait for at least 24 months in order to ensure that any positive modifications including new content and fresh work can be fully ranked and effective. This improves liquidity and shows the increased averages over long period of time that it can affect the selling price.
Domain flipping can be great method to earn extra income while gaining experience in the realm of internet based real property. It will require bit of know how an eye for detail and bit of luck however if youre consistently and consistent youll earn an income that is steady by doing this.
