The main principle of website flipping is almost the same as that of house flipping. In house flipping, you buy a house at a lowered price then you fix, renovate and modernize it before you sell it for a higher price, and therefore, you gain profit. Website flipping, on the other hand, is the business where you buy websites, fix them up to increase their value, and sell them for profit. If there is anything that differentiates the former from the latter, it is that the latter is easier!
It takes research and practice to become an expert in the field of website flipping. To do this, you must know the Dos and Don’ts of website flipping. Here are some of the most common guidelines on what to do and what not when flipping websites. Note that these are really quick tips so try not to be overwhelmed.
When Buying Sites…
Website flipping starts with buying the site. So don’t screw that up. Make sure you buy sites that don’t have too many competitors. Purchase a site that won’t be obsolete in a year, select one that will have a long life span or is more long-term, but doesn’t over-invest. Chances are a site that has already been banned may already have a bad reputation so try to consider something else. Refrain from buying sites that need a lot of work in terms of promotions. It is best to find a well-known website so choose from trusted auction sites like Flippa.com.
When Looking to Profit from Sites…
Remember not to build a site on a sub-domain. Another important thing to take note of is tracking all your expenses, including maintaining costs for your site like hosting and pay per click (PPC) among others. Consider ways to monetize your site through advertising, product sales, and membership fees.
Build the website from a buyer’s perspective, not a seller’s. Take note of important factors that make a website valuable such as unique content, traffic, and revenue, wherein one of the two will let you achieve your success. You must be skilled enough to boost the SEO rankings of the improved site and improve the traffic that is driven to the site. Learning SEO does not happen overnight but you don’t need a month to master it.
When you have fixed the site, show proof of your statistics by installing Google Analytics and showing screenshots of traffic your site gets. Generally, three months of performance is typical before selling, as the price is usually lower for a site with a little history and little traffic and sales.
Don’t forget that licenses and vendor agreements should be easily moved and legally transferrable on your site. The same should be for the content and images.
When Selling the Site…
After this, find a good place to sell your website, once again we recommend Flippa.com. Once you have found it, choose a good listing headline. Be truthful and don’t exaggerate because it is important to get across a headline that lets buyers find what they’re looking for which is content, traffic, and revenue. Information is important, even the negative ones.
Finally, when you are about to sell the site, make sure that your website is not priced too high. Though you have made it more valuable, you should sell it at a realistic price for more prospective buyers. Website flipping may be a very lucrative business today but that doesn’t mean you have to be unfair. Try it out and good luck!