Make Money Online With Website Flipping
Website flipping can be a business that you begin while you continue to work your 9 to 5 job. You don’t have to go anywhere, commit large blocks of time, or make substantial investments while you learn how to flip. Your office is your computer, and the Internet is the source of the information you require.
All you need is an attraction to this type of work and a desire to start your own business endeavor, with the prospect of making real money and eventually becoming independent. If any or all of these ideas appeal to you, continue reading. I’ve put together a comprehensive overview of the website flipping business to give you a good idea of what it’s all about.
How to start a profitable website flipping business.
What is Website Flipping?
Website flipping is the skill of purchasing, improving, and then selling websites.
You may be familiar with the term “flipping,” which comes to us from the real estate business. This is when an investor or investor group buys a building or a home, makes improvements to add value to the structure, such as updating the electrical system or installing a new roof, and then sells this improved property at a profit.
As an investor, you do the same when you flip a website: you purchase the site, make improvements to it to add value, then sell the improved website at a profit.
Website flipping is obviously different from website building (selling versus creating a website). But the two intertwine. Read on for exactly how they are related.
Where Can I Buy or Sell Websites?
Empire Flippers. These people specialize in providing up-to-date statistics and information about their inventory.
Website Broker. This site lists “fully-developed” websites for sale and lists your website to sell.
Side Projectors. In addition to websites, you can buy and sell “side projects,” like hardware, desktop programs, apps, etc.
FE International. Brokers help you buy and sell here.
Latona’s. This company helps buyers and sellers get together, and they do not charge a fee until the website sells.
eBay. Best known for selling and buying items like clothing, electronics, and toys, eBay also sells websites. Search the site for “websites for sale.”
Determine what you want to buy, how much you want to spend, if you will need help (and how much) in buying, and other factors such as cost before choosing one of these services to help you.
How Much Money Can You Make With Website Flipping?
Forbes magazine indicates you should sell a website at a price between 24 and 36 times of the monthly revenue it generates. In hard numbers, this means that if the website you are selling brings in $1,000 per month income, you should sell it for between $24,000 and $36,000.
Referring to the nuts and bolts of buying and selling websites (see next section), you need to consider the main factors involved in buying a website or websites. This includes the investment in purchasing the website; the cost in time, money, and effort it takes to improve it; determining a selling price; and finally finding a buyer, perhaps with the help of a website broker.
Keep in mind that some of this activity involves spending additional money on your part after the initial outlay of buying the website. Think fees for content writers, brokers, and backlink builders — tasks you may not want or know how to do yourself. You will subtract these additional expenses from the money you generate from the sale.
How To Make Money With Website Flipping
First, decide whether you want to create a successful and profitable website yourself, and then sell it. Or if you want to buy a successful website, improve it, and then flip it.
About the first option, many people ask, “Why would I want to sell a website that I worked hard to create?” That is a question you need to ask yourself, Do you want to go through the process of research, creation, and making a website successful only to sell it?
You can ask a similar question for the second option- “why would I want to sell a website I bought that is successful and making money?”
The objective is to be a flipper of websites, not a website creator or maintainer. So, if you are sure you want to flip websites, you can move forward.
Most people focus on buying websites and flipping them instead of creating them and then flipping because it’s easier and less time-consuming.
With this in mind, your first task is to find a website that is performing well, then improve it.
Find a Website That is Doing Well
Find a website in a profitable niche, such as food and cooking, travel, business, wellness and health, or technology, that is making money every month. The more money the site is making, the better.
If you can locate a site about which you know something, through job experience, training, or hobbies, this knowledge can help you shape your marketing approach and the content.
Then, vet the site. Check out its content, traffic, and customer reviews. You can see the history of the content for an established website using a tool like Archive.org.
To investigate anchor text, referring domains, and the quantity of backlinks, use the Site Explorer Tool from Majestic. If referring domains come from fake websites, i.e., blank page sites, phony brand sites, etc., ditch that site and find another.
Check ban history. You do not want to invest in a company banned from the Google search index.
Other areas you want to be aware of are:
- Respectable monthly visits
- Consistent publishing of content
- A good-sized email list
Also, search for websites owned by one person. They are almost always cheaper than the big, corporate-owned sites for sale.
Negotiating the Price and the Sale
After you’ve found a website you want to purchase, you can research how much it is truly worth. Analyze and compute to determine a reasonable price. Then approach the owner, either through a broker or website marketplace, to work out the sale.
The process can be lengthy, especially if other offers are on the table. If it is taking too long and the process is way drawn-out, move on to another opportunity. Remember, there are millions of website flipping prospects out there.
Improve the Website’s Appeal
After you’ve purchased the website, improving it is relatively simple if you concentrate on these four main aspects:
- An outstanding theme
- Best quality content
- Revenue stream
A good place to find a customer-attracting theme is Generate Press, if you are using WordPress. If you are not, you can improve the site by using SquareSpace or Wix. They offer templates that you can customize as needed.
For revenue streaming, consider partnering with Amazon Associates if you want to start an associate marketing site that provides commissions on all sales that you provide to a company or brand. Check out Google AdSense if you are seeking advertising income.
Determining the Website’s Worth
Arguably the most significant factor for flipping websites is how much you sell them for.
Consider that you are selling the website as a whole. This includes the domain name, the site’s content, its income, and the idea that originated it.
Websites typically sell for two to three times the amount of revenue they bring in every year. Therefore, if your website generates $1,000 per month, or $12,000 per year, you can expect to sell it for a price between $24,000 and $36,000. Use these numbers as a guide to formulate a value for your website.
Listing the Site
While you may get a direct offer from a buyer, chances of that are rather slim. It is better to list the site for sale on one of these popular marketplaces:
You can either auction off your website or sell it at a fixed price. Experience determines the best choice, which you will come to recognize in time.
If you have a solid idea about the value of your website, and you have the time to wait for a buyer, you can set a price and put it on the market.
If you think your site has great potential, and you feel it is a site for which others may pay big, you can offer it at auction. However, at auction, you risk selling it for less than what you have put into it.
A general rule to flip a website is to begin small and work slowly. Buy a reasonably-price site, for example, between $1,000 and $10,000. Don’t stray outside your comfort zone financially while simultaneously putting the time, research, and effort into making the website function better and making it able to generate more income, so it is more attractive to a buyer. Then you are on your way toward making a sale, providing a good investment for the future owner, and making yourself a profit.
Is Domain Flipping Still Profitable?
In the commercial world, a domain name is a character string that computers use to direct potential buyers to websites. As the owner of a domain, you receive exclusive use of this string of letters and numbers so you can register it and employ it for selling, trading, or other activities.
When you create a domain name that no one is using, it’s yours to use freely. If no one owns a domain name that someone has already created, you can purchase it outrightly.
Check out whether a domain name is available by searching domain name availability. After you create or buy a domain name and register it, you have sole use of it.
When you flip a domain, you buy it from someone (or claim it if it is not in use), and then sell it for more than what you paid for it, (which is zero if you are selling one that was not previously in use).
You do nothing to the domain before you sell it; you sell it “as is,” so you make no improvements as with website flipping.
To answer the question, is website flipping still profitable? It is, if your timing is right and you know what to look for when researching domain names to buy and resell. For example, the domain that sold for the highest recorded price was www.cars.com which put more than $800 million into the bank account of the seller.
A domain name must be relatively inexpensive to purchase and potentially profit-making to sell.
So look for domain names that have potential, now and in the future. Flipping a domain name for a website about buggy whips is not going to bring much profit. A domain name for smartphones or electric cars might.
Evaluate whether the name is “search friendly.” In other words, check if people can find what they are looking for easily using the domain name. Also look into whether the sales of similar domain names have been profitable.
If you take these variables and conditions into consideration, do your research, and use reasonable judgment, you will find that flipping domains can be profitable.
Flipping websites, like any business prospect, is an avenue to success for those who truly enjoy the type of work that is required and who put forth the effort to make it happen.
Now, you’ve learned enough about the website flipping business to see if it’s right for you. Now it is up to you to decide whether it’s something you’d like to explore further.
While no one can guarantee success and profitability, learning from others can save you time and resources as you make your first inroads toward owning and operating a business you created.