Many people think of easy ways to accumulate an emergency fund. One of the most direct happens to be via website flipping. So how to make money through websites?
Almost everyone has heard of “flipping houses.” It has been on the market for a while now. The first quarter of 2022 witnessed the house flipping share rise to 9.6%. Purchasing an asset, fixing it, and selling it at a higher price have become common strategies.
However, people exploring ways for quick flips to make a profit are moving online. The digital world is constantly changing, given the immense size of the internet.
Many things are transitioning to online platforms; business industries are a couple of perfect examples. Business users are creating websites to reach customers worldwide with a single click. As a result, developers and individuals design hundreds of websites every day. But the question is- what happens to the old ones?
Many people have turned to flip websites when designing sites has become surprisingly easy. It may be perfect for anyone who is not a big fan of physical work. It might sound near unrealistic. Is it possible to earn income by simply flipping websites?
If yes, then precisely how to make money from a website. And how to buy and sell domain names part-time for profit? Now that’s too many unanswered questions. This article will cover every nook and crook associated with website flipping. So dive in!
Engaging in websites that are already lucrative, enhancing them by growing traffic or gaining more income from the same number of website users, or both, and then selling it for a profit. That is website flipping.
In essence, website flipping is purchasing partial or entire ownership of a site. You modify it to increase traffic and sell it for a profit. It is similar to house flipping.
Let’s understand it better using an example. Say X is unsure about what career he should choose after his graduation. After deliberating for days, he purchases an old website that earns monthly Rs. 50.
He pays Rs. 1500 at 36x the monthly profit. Then, over the months, he increases the traffic and income by an impressive Rs. 100. It implies that the site now earns Rs. 150 per month.
Employing the 36x value measurement, X increased the website’s worth to Rs. 5400- a profit of Rs. 3900.
It is one of the most straightforward explanations of website flipping. As long as one knows what they are getting into, flipping websites is an ideal way to accumulate gains.
A typical question every to-be flipper has is, “Should I buy a website or build one from the start?” It all depends on personal choice in the end. Do they appreciate building websites? Or would they purchase a “proof of concept” that requires a little polishing and growth inputs?
Both paths have a fair share of pros and cons. But there is no ideal solution or a perfect fit.
Building a website from scratch is inexpensive. One may design the site from scratch if one possesses the skills and knowledge.
Another advantage of creating a website is the independence it provides. Developers enjoy indisputable authority over the content, domain name, and monetization. Building and promoting a high-value website will take time, but it will be worth it.
However, one has to spend time crafting unique and well-researched content. Further, acquiring backlinks and gaining social media traction is necessary to increase traffic.
Purchasing a website can be more manageable and beneficial than building one. It is preferable to buy sites that have reliable backlinks and authentic content.
Flippers typically work on the following aspects of a site after buying:
Also, read the following:
A lot goes into flipping websites. It includes picking the best website and effort to boost its search ranks. There are numerous “off the shelf” techniques one can use. But a flipper needs to figure out what works best for them.
One must consider whether the site they purchase is worth the money. Almost every seller will make claims regarding the potential their site holds. One must invest significant time and money if one buys a fake idea.
That is why doing proper research before flipping websites is critical. It is preferable to go for sites with a precise proof-of-concept.
One must consider the potential upsides before buying a site. Is the niche going to stay in the market for a long time? Does it have the opportunity to increase traffic? There are some simple techniques to resolve these questions and comprehend the website’s potential.
One can perform an SEO audit to discern the technical on-page and off-page SEO issues. It will also help in finding missed opportunities relating to the content. That is the content gap. The next step thus is analyzing this gap.
A content gap means relevant content that is not present on the website. When one curates and uploads topics that are not there, they invite more traffic.
It is time to put the strategy into action. Now each site and operator is unique; there’s no one solution. The short version is that one must discover a way to:
One can utilize their skills and play to their strengths. If someone is a Pinterest expert, they can include it as a traffic source. One might convince businesses to advertise directly on their site if one is a salesperson. There are no rules as long as it earns more money.
Remember that website flipping is not simply selling a website. It means one is also selling the revenue and process that underpins it. When selling the site, one should expect to get 36x their monthly SDE. The seller’s discretionary earnings are the site’s earnings plus the buyer’s expenses. If a person pays, it does not involve a salary. Having that said, some sites will sell for considerably less than others.
The final step is to list the website for sale. Some niches indeed sell more than others. But, if one is prepared to package the site, they can receive a greater worth. To prep up for sale, package up the following items:
Online directories are the best way to locate potential customers. One can take the long-term strategy of charging a fixed fee depending on the size. Or they can flip a coin and auction it off.
Also, read: How to Make Money Blogging: Free Guide for 2023
A person flipping websites assumes it is the easiest path to fill their pockets. However, nothing comes easy!
In addition to the splendid perks, this business accompanies multiple downsides. Some of them are:
Website flipping is an efficient method to earn income online. But it is not as quick as it seems. A lot of effort goes into establishing that moment when a big successful sale occurs.Many potential website flippers fail because they expect quick success. And many give up when it does not arrive soon.
Here are a few elements that require time:
Even professional website flippers acknowledge that it takes months to see positive outcomes.
Although the initial investment in website flipping is minimal and almost non-existent, it does exist. One cannot begin in website flipping unless willing to invest some funds. One will have to pay for a domain name if developing a website from scratch.
Further, an existing website may also require-
24-36 times monthly revenues is a general rule in website flipping. But a lot goes into selecting the selling price of a website. Further, there is no certainty that the site will net the money one expects.
Nothing is constant, especially in the corporate world. Trends change daily; thereby, what is fashionable this year may not be popular next year.
Travel websites are typically a popular, evergreen sector that people visit throughout the year. However, they gradually ceased gaining attention and, as a result, didn’t sell as much.
As a result, diversification is crucial. It is essential for protecting both income and business. The three most prevalent diversification errors are as follows:
Selecting a good niche helps in narrowing down the possibilities. Moreover, it makes the acquisition process less complex and lengthy. It will give an idea of what one should look for when purchasing a website.
However, the availability of multiple niches makes it a daunting task to settle on one. It is perplexing to figure out which will benefit one the most. The table below showcases some of the compelling and evergreen niches to consider.
|1||Health||· Special Healthy Lifestyles· Fitness according to life stages· Types of workouts· Diets|
|2||Relationships||· Dating for specific groups· Marriages· Divorce· Love problems· Dating ideas|
|3||Wealth||· Deals and Coupons· Tips to pay off debts· Personal Finance· Saving money· Making money· Tips for maintaining a budget|
|4||Travel||· Travel for different age groups· Travelling in budget· Luxury Travel· Travel deals· Food from around the world· Travel Diaries|
|5||Pets and Animal Care||· Things to do with pets· Buying a pet· Caring for different pets|
Remember that any niche can help gain a good amount of pennies. But one must possess a good quality website with passion for doing that. Going for one of the preferred niches is not practical without proper research.
Flipping websites promises many delightful advantages. However, is it okay to get the ball rolling without having enough idea about it? That is where website flipping courses shine as a reasonable measure! One can take advantage of online courses to acquire enough knowledge about this field.
Unfortunately, there is always a but. In this case, pursuing a website flipping course is excellent for sure. But which one will be the best to apply that guides a beginner step-by-step? The table below gives a gist of some well-known website flipping courses.
|Website Flipping: 101 Learn how to buy and sell websites||· 2-hours of on-demand video· 1 downloadable resource· Certificate of completion· Access on TV and mobile· Full lifetime access· 48 articles· Money-back guarantee|
|Website Domain Flipping Course: The hidden Flippa Secrets||· 3-hours of on-demand video· Certificate of completion· Access on TV and mobile· Full lifetime access· 1 article· Money-back guarantee|
|Learn Flutter Web Development: Frontend and Backend||· 6.5 hours of on-demand video· Certificate of completion· Accessible on TV and mobile· Full lifetime access· 1 article· Money-back guarantee|
|Website Flipping Course on TWF||· 6 hours of video content· Bonus content templates· Certificate of completion· Downloadable PDFs· 8 modules and 51 lessons· Money-back guarantee|
It is better to have a firm foundation to succeed in website flipping. One can prevent failure by knowing the target market and product. However, attention and preparation are not the only powerful weapons.
When one deals positively, one can easily attain their goal and gain an edge. One of the sound tips is ensuring that the content and site are novel.
If one does not wish to partake directly, it is entirely okay! As it is said, opportunity knocks at every door.
Flipping a website can help one yield rewards. Although the task requires less time and more money, one must not take it lightly. One must have foundational knowledge about it before one jumps into it.
Yes, domain flipping has become highly profitable in recent years. However, it takes time and patience to create an income from it. There might be some instances where the domain does not sell. But that is part of being a domain flipper. If interested, one can register for a domain flipping course to get some sound tricks.
Multiple platforms allow users to flip websites. Some of the reliable and trustworthy marketplaces include :
5. Digital Point Forum
6. Website Broker
7. Web Hosting Talk
Flipping a website is not challenging when one has adequate skills. A rough overview of the process is as follows:
Step 1. Build or purchase a website that has potential.
Step 2. Give 5-6 months and revamp the site.
Step 3. Lastly, present it on the market for sale.
Earning money from websites is no longer a fantasy; anybody can do it. Owning websites is a trendy side hustle nowadays. One can make a site for a personal blog or an online business. A good website can give a hand in reaching potential customers.
Selling a domain can take a few hours or weeks. The average time to sell domains is typically a week. One can take assistance from auction sites to ramp up the process.
Flipping domains is easy when the person has apt knowledge about them. It requires patience and hard work. It is understandable if one is unable to sell domains fast initially. It takes time and practice. However, one can always take help from domain flipping courses to grasp the business.
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