Creating New Revenue Opportunities Through Buying Established Websites 43 Comments
When it comes to creating a business on the internet you have a few different options. You can become an online marketer that focuses on affiliate marketing and continually creates new ad campaigns, always trying to make a profit, then moving on to the next great offer… or you can focus your efforts on building a long term money generating web site. Sure, the concept of a long term money generating web site sounds great, but it definitely doesn’t come easy, especially if you don’t know where to start.
No matter if you are a trained marketing veteran, or just a newbie who is looking to start making money online, buying an established web site is an excellent way to break into the world of online marketing. Best of all, the cost of entry can be very low or high depending on your initial investment money and the type of web site you would like to purchase. Through sites like Flippa.com you can bid on web sites and look through the thousands of web sites that are currently for sale. I highly recommend that you take some time to look through their web site and see what types of web sites people are selling, how they are making money with their sites and the multiples of earnings they are actually selling their web sites for.
Now that you have the resource of Flippa.com to perform the necessary research before buying a web site, here are an additional three quick tips to think about before making your first web site purchase.
1.) Buy Into What You Already Know
Depending on your knowledge of business and the internet, this point can heavily swing all over the place. One of the major misconceptions that people have about the internet, is that everything is so simple and easy. Just because you don’t need to pay for rent and have a full staff, you can still invest a lot of money in a project, then end up going broke. If you already know how to sell specific products and services, or already have web sites or blogs in a niche market, it’s best to stay within this same area and continue to grow and expand at what you know. I’ve personally bought some web sites that looked liked they would be fun to run, but in the end they were just a distraction and ended up wasting more time and money than actually doing any good. Don’t make this same mistake.
2.) Only Buy From Trusted Users
As great as a resource Flippa is, there will always be people out there to get you and looking to make a quick buck. I’ve personally done over six figures in web site buys and sales through Flippa and this type of rating and history goes a long way. It’s much easier on the mind to buy from users with a good long term history of sales, then it is to buy from someone that only has $50 in sales history. While this might not always be the case, it’s very important to always contact the sellers of a web site directly, ask as many questions as possible and always try to verify all traffic and revenue stats.
3.) Using Paypal and Escrow for Payments
Lastly, the way you buy and sell web sites on the internet is just as important as how you make any big purchase in the real world. Flippa has a lot of options, but you should focus only on making payments through Paypal and Escrow. I would recommend using Paypal for any sales in the $1-$2000 range, then anything above $2k I would recommend escrow. Both of these payment services offer protection, but for very high end sales, Escrow is the way to go. There are some fees associated with Escrow, but the seller of the site will usually cover these costs if the site ends up selling for a decent amount.
Your Future in the World of Web Site Auctions
As mentioned, whether you are just starting out, looking to make a side business or looking to expand your business online, buying and selling web sites is always a great place to get started, even if you are just looking for an amazing resource to learn how people are making money with their sites. For more information and tips on how to buy and sell web sites effectively through the use of Flippa, you can check out my book called “Flip this Web Site“, which has helped thousands of internet users buy and sell their first web site.