Lots of people these days make money by flipping websites.
Basically what they do is buy a website, find ways of improving it so it’s value increases, then sell on for a profit.
It may sound very straightforward, however in order to be successful at it you need to know a thing or two about designing websites, developing them, marketing the site, and online business in general.
How Do You Improve A Website To Sell It For Profit?
Firstly you need to know how to identify a profitable niche. Once you have chosen your niche, you need to find a website within that niche that you have identified as having good potential and then improving it.
You can improve a website by adding valuable content, optimising the SEO, making the user experience better, and ultimately increasing the website’s traffic and revenue. By working on these areas you can then sell the website for a higher price than what you paid for it.
How Much Can You Earn By Flipping A Website?
This really depends on a number of factors including;
- The quality of the website you have bought
- The amount of improvements you make to it.
- The demand of the niche the website is in.
To turn a good profit and make a business out of it you need to devote time, effort and a fair amount of expertise.
Where To Look For Websites To Flip
There are a number of places to search for a website that has good potential to flip.
- There are online marketplaces that specialise in the buying and selling of websites such as Flippa, BizBuySell and Empire Flippers. On sites like these you will find sites that are established and already attract traffic and make money.
- Auctions: You can buy previously owned domains on auction sites such as GoDaddy Auctions and NameJet, some of which include established websites.
- Forums:On places such as Warrior Forum and DigitalPoint, you can also find websites for sale or you can connect with other flippers who are either buying or selling websites?
- Networking: Another option is to network with other bloggers or online webmasters to find sites for sale. You can often contact them on social media channels or online groups.
- Alternatively you can try reaching out directly to see if website owner wants to sell their site.
Flipping A New Website You Have Created
You can also create a new website yourself and then flip it for a profit.
This however can prove to be more challenging than flipping an existing site that has already gained some traction. Starting from scratch presents a whole new set of challenges.
These could be identifying a profitable niche, understanding keyword research and choosing the keywords you want to use. Your content will need to be based around these keywords.
To get visitors to your new site you will need to understand SEO and perhaps other forms of online marketing such as social media.
If you manage to do this successfully then you could consider flipping your site for a profit. Your site must have the potential to grow, whilst at the same time you need to keep your costs low.
The potential costs involved are explained below.
The Potential Costs Involved In Flipping A Website
There are a few costs to consider when flipping a website, these could be:
- Purchase Price: You will need to buy the website if it is an existing one. The cost will vary depending on the niche, the amount of traffic it has, the amount of money it is making and other factors.
- Website Development: To improve the site you will have to develop it. You may need to buy a new theme, improve the user experience, and optimise it for the search engines. Unless you can do this then you may have to hire web developers, designers and content writers.
- Marketing:To build the website’s audience and income you may need investment in SEO, pay-per-click (PPC) or social media advertising. To pursue these avenues you may need to hire marketers, pay for ads or other relatable expenses.
- Website Hosting and Domain Name: All websites need hosting and have to pay for their domain name renewal. Hosting can be kept as cheap as possible by shopping around, and the domain fee is usually a nominal fee paid yearly or every few years.
- Transaction Fees: When you sell a website you may need to pay a transaction fee on the marketplace you are selling it at. The fees vary depending on the one you choose.
It is important to take into consideration these costs before investing in a website as they will ultimately have an impact on the profit (if any) that you make flipping a website.
Final Thoughts
Your success as a website flipper depends on your level of expertise. You will also need to invest time into the venture, and give careful consideration to the current market conditions.
If you have the ability to identify profitable niches, and be able to improve websites so they increase in value, then you could find success with this kind of business.
You must however ensure you research properly a website you are considering purchasing before making an investment.
Consider the amount of effort involved, and the amount of competition you will face. Finding a website with good potential for growth can be a challenge. Flipping a new website, can be even harder.
Nonetheless, website flipping can be lucrative if done the right way. You need a solid plan, a good understanding of the market, and be willing to change, if must, to the conditions.
Inevitability, as with any business venture, there are risks involved. However, if you can plan carefully, website flipping can be a very rewarding and profitable venture.
I hope you enjoyed reading my article about flipping websites. I hope it gave you some insight into what is involved, and whether it could be something you want to try.