Website Flipping is the hottest money making opportunity online. Website flipping means buying and selling websites. Many Internet Entrepreneurs also build a profitable website business out of scratch and later on sell it for a great profit.
This article is all about how you can make money by flipping websites.
Website flipping is basically the art of buying, improving and selling websites. The term comes from the property industry where investors will buy a property, renovate it to add value, and then sell it at a higher price.
Website flipping is essentially the same process online. An investor, or investment group, buys an established website, adds value to it and then sells the site at a higher price.
There are 3 different types of Website Flipping
- Beginner’s Flipping Whilst not necessarily “flipping” it is still a valuable business model that should be discussed. Essentially this is to build a website from scratch, do some promoting and then sell the site once it has traffic. This method takes more time but gives greater control on choosing the direction, setup and interest area of the website.
- Standard Flipping (Medium Term Investment)
This is the most common flipping business model. Essentially you buy a fixer upper website with some potential, enhance it as quick as possible and sell it at a higher price. The choice of website is the most important element here.
- Long Term Investment Flipping Many people buy a website for its proven monthly recurring income and then develop that website as a long-term investment. This type of investor will hold onto the site for years whilst profiting from its income capacity and then selling the website once the it reaches a market threshold for an increased price.
Essential steps to be followed before starting website flipping business:
Selecting a niche:
The most important and prime step before starting a website flipping home business is selecting a niche for your business. Flipping website is all about revamping an old or building the new website from scratch, it requires creativity as well as good knowledge thus before starting the process you must select a niche which is growing as well as you have good knowledge about it.
The main aim of all such websites is to generate targeted traffic. Thus before purchasing any website make sure that the website is generating either organic traffic or through referrals.
Start posting unique, quality and information rich content on your website. The content should be written in such a manner that it should add some kind of value in the life of your target market.
Buy a Web Host Plan.
Choose a good web hosting plan for your website business and link your domain name with the web host.
If you want to gain profit from flipping websites then it is important that you work ethically. Always try to convince the client not fool him/her. The main way to attract clients is with mouth publicity thus make sure you keep the deal transparent with the client and provide time to time service to your clients.
Get active on social networks:
Any online business needs to be promoted, and we are blessed with lots of social networking websites.
Thus make use of such websites effectively, create an attractive and professional profile and avoid spamming. Social networking websites and mouth publicity are two best ways to promote your services.
Ideas for website flipping:
Buy and Flip Sites With No Change: There are many marketplaces where you can easily buy a website and sell it later for a higher price. The idea here is to purchase a site and sell it as is – without making any changes to it.
This works well for all those sites that have a growing revenue stream or/and have traffic that’s increasing with time.
Fix the Site and Flip It: If you’re a professional website flipper who is serious about getting more profits then you will not sell the site as is. You’ll work on fixing it and taking it to the next level before putting an offer in the market.
There are many big shot flippers in the market whose sole aim is to buy those sites that are falling apart for cheap, fix them and flip them for a good profit margin in a few months or maybe a year.
Lease the Site You Buy: This model is the least preferred by website flippers but it can prove to be lucrative if done right. It basically works like this: you buy a website and lease it to other businesses for a certain period of time.
You get the lease money, they get to use your site and you still remain the owner.
A very effective way of increasing your website’s customer base and revenue, regardless of the niche that it’s in, is via emails. You can collect emails of visitors to your website and offer them freebies like discount coupons, e-books, newsletters etc. Following are three effective ways of collecting email addresses:
The Steps involved in Website Flipping:
- Buying – You must find a suitable website to buy. Do not be fooled, whilst this sounds easy, it is the most important step and also the one that most people do incorrectly. For tips on finding a suitable site to buy, get in touch for some advice.
- Enhancement – You must add value to the site. Generally you must make changes that increase traffic or income. Increasing either or both of these factors, significantly will almost guarantee a profit (if you paid the right price originally).
- Selling – You must now sell the website. Generally it would be best to sell the site at the same place you bought it as the market value that determined the price there will be the same. So any value added to the site, in theory should create a higher market price and deliver you a profit. If you have an established website that you would like to sell, we can offer advice on how to get started finding buyers.
Every website flipper has his/her own right time of selling his/her website/s. It all depends on how much is enough for you.