Is Website Flipping Still Worth Getting Into?
The state of website flipping is far from what it was fifteen years ago, but you can still make a lot of money in the business if you have the skills and drive to see it through.
Is website flipping still profitable in the modern age? In 2020? Well, it’s a tricky question. Yes, and no. Yes, it is… but only if you have the grit and tenacity to do the job right. The days of fast and easy money from flipping are over. Long over.
Website flipping is similar to flipping houses in real estate: you buy a website, improve its design and copy, and then sell it for profit. Online entrepreneurs used to be obsessed with website flipping because there were so many poorly run sites on the net and so many unfilled niches. That has all changed. The internet is saturated… but it’s still growing, and growing fast. Over 50% of the world hasn’t even come online yet. Internet readers and consumers are growing each year! So there is room for a profit… if you’re careful and smart.
Eric Porat, an online entrepreneur said: “Website flipping seems lucrative, but there’s a lot of competition. The world is running out of good websites. Google algorithm changes are making it harder and harder for sites to rank fast and easy. Also, the secret formula is out, anyone can flip a website with a bit of capital, a decent writer, and a set of SEO tools that can help generate traffic.”
So, is it even worth trying to flip a website?
Well, that depends on your goals. If you just want to flip sites to make some fast money, forget about it. That said, if you’re willing to take the time to understand the business market, come up with a reliable strategy, and approach website flipping in an all-around strategic way, you just might succeed. Of course, you’ll be making plenty of mistakes starting out, but eventually, you’ll beat the learning curve and realize the income potential in this market.
So… Come Out With Strategy!
You aren’t going to make a fortune quickly. You’re going to need to analyze the market, find an under-optimized site, and take time to build it slowly, painstakingly, into something worth selling. It takes a long time to understand how the market works, understand what is trending, know how to attract buyers, and figure out what can earn you a decent sum in the end.
If you’re willing to put in the work, however, then website flipping is worth it. For sure. So get started!
Find a Site With Potential
If you want to make a profit from flipping, you first need to find a site with potential. More than that, you need to find a site that already has a bit of income and a bit of traffic. It’s a heck of a lot easier to grow a site that already has a foothold than to grow one that is basically starting from scratch. Don’t just look for sites with a nice niche, look for ones that already have a foot in the door to their consumer base.
Do a Good Vetting Procedure
Investigate your potential purchase thoroughly. Make sure it’s worth something. Check the history for Black Hat SEO techniques. Make sure everything is as it seems. Sometimes people will try to sell you sites that are basically a scam. Don’t fall for it.
Increase the Appeal
There isn’t a special trick or tactic that grows sites. It’s just hard work. Plain and simple. There’s no way around it. You need solid bases, like a good theme, top-notch content, solid backlinks, a decent revenue stream, and more. Build all of these pillars up over time and before you know it you’ll be looking at a powerhouse of a website. Furthermore, you’ll be looking at a site that’s worth a lot of money, hopefully, a lot more than you paid for it.
Calculate Your Website’s Worth
This is probably the most important factor for website flipping. Make sure you’re selling for a viable price, and one that’s fair, otherwise you aren’t likely to find a decent buyer unless they’re a sucker.
When you sell a website, you’re also selling the domain, the content, the source of income, and the whole idea behind it. Usually, a site will sell for around 2x or 3x the annual income. You can also multiply monthly profit by 20. The variables vary, but this is a solid starting point. Just make sure you’re also calculating the site’s value based on the traffic diversity and consistency, the auxiliary arms (social media, partner blogs, etc), and everything that comes into play. If you advertise the full package you’ll be able to convince a buyer to pay WAYYY more than you will if you’re just acting like you’re selling the domain.
List Your Site For Sale
You might get a direct offer, but 99% of the time you’re going to have to list your site. You can auction it, or post a fixed rate. Both ways work, but a decent way to go about things is simply setting the price and leaving it to the marketplace.
That said, if you know the potential of a website and are confident that other buyers will be willing to pay a hefty price for it, perhaps an auction is the way to go. You could get lucky and get an astronomical sum racked up as buyers compete for the keys to your digital kingdom. Of course, this comes with the risk of you getting far less than what you invested in it, so be prepared and set a viable starting price before you let the auction loose.
Hopefully, you now have a decent idea of the ins and outs of website flipping. At its core, the idea revolves around the viability of your initial investment. Don’t pull the trigger without being certain you can follow through. If you’re careful and strategic, however, website flipping is DEFINITELY still worth getting into.
Now go make some money!