Abhishek Suryawala, a software engineer with a promising career, decided to give up his 9 to 5 job and start a business of his own that lets him enjoy financial freedom that too without full-time engagement. Over the past few years, Abhishek is managing to earn a decent income from a non-conventional trade, known as website flipping business.
Those who don’t know anything about website flipping business, it is almost like flipping houses. The process involves buying, designing, and selling websites at a profit. Sounds too technical? Surprisingly not! Anyone with a limited site development experience can start a website flipping business.
The aim of a smart flipper is to look for undervalued sites, which he can sell at a higher price with minimum time and money investment. This article summarizes the ‘ins and outs’ of website flipping to help you live your dreams with an online income opportunity.
Evaluate Your Money and Time Limit
Before getting into the interesting business of website flipping, it is important to evaluate the time and money that you can invest.
This is one business where you need to invest a significant sum of money and your precious time to carefully select and buy websites and hosting services. This should be followed by the website modification to fetch higher price.
Keep in mind that a website flipping business, like any other business, does not guarantee an assured return on your investments. So to start with, limit your resources to what you can afford to lose. Once you finalize the resources, you can move ahead with the next steps.
Choose Website Names Smartly – A Crucial Step
The very first step of starting a website flipping business is to pick up websites with names that have a unique appeal. It is an important step to attract buyers.
For instance, if you are planning to sell your websites to businesses, then look for commercial site names related to specific business categories, products, services, or industries.
To find the right names, you can try a domain name checker site of your choice. A domain name checker works like a search engine, enabling you to hunt website names and see if they are available. Many name checkers also give a list of similar names that you can use.
Spot the Right Niches – The Key Part of Website Flipping Business
Experts of the game talk about ‘evergreen content’. It actually refers to particular niches that are forever favorites, and will remain so for years to come.
Selecting the right niche is crucial in a website flipping business. You should always focus on evergreen niche which is not just a passing fad. Don’t pick site names that relate to time-based topics, such as the World Cup Football. The site might get outstanding hits during the tournament, but the moment this competition is over, it will experience an abrupt drop in the traffic flow.
Consider some of the all-time popular niches are relationship, health and wellness, finance, sports, hobbies, and personal growth.
Identify Websites to Purchase – Look for Authentic Source
When buying a website, check it out against specific performance indicators so that you can sell it easily after a certain period. The main criteria you should look out for, is, whether the website is generating revenue on a consistent basis. If not, you can try to assess its potential to generate income after necessary upgrades.
You should find a website that has a natural influx of income, as opposed to a site that generates totally ad-based revenue. Also, check the site’s upside prospects, such as options to optimize the design, content, traffic, and revenue.
Place Your Bid – Do A Thorough Research
After you zero in on a website, it is time to place your bid/offer. Domain marketplaces like GoDaddy already list the website price, but there are many other marketplaces where you will have to make an offer.
The rule of thumb is to quote a price which is seventy per cent below the seller’s asking price. However, don’t bargain too much if you come across a website that looks promising. Check out the necessary terms and lock the deal instantly.
Enhance the Website’s Appeal – Apply Your Web Design and SEO Skills
In a website flipping business, the main work starts after you purchase the website and get it transferred in your name. Now it is time to optimize the website and make it ready for buyers.
You need to work hard to improve SEO, keyword, and content strategy to augment the website’s ranking in the Search Engine Results Page (SERP).
Further, you need to create and nurture an email list, explore affiliate opportunities, as well as focus on paid advertising and social media promotion to heighten the site’s revenue growth. Your ultimate goal is to boost traffic and income potential of the website.
Sell the Website – The Rewarding Part of Website Flipping Business
Consider selling the website only when you are fully satisfied with the site’s optimization. There are several ways to sell a website, but the best way is via an auction. Potential buyers, in an auction setting, bid for your website.
You can let your buyers know the USPs of your website, such as its URL, the extensions included, the number of pages, daily traffic it attracts, number of subscribers, and other necessary information. To sell your website, you can also go back to the marketplace from where you bought your site, or advertise the website, and sell it online.
So, to sum it up, here are the key points to remember when you are starting a website flipping business –
1 – Know how much money and time you can invest
2 – Choose website names smartly
3 – Spot the right niche
4 – Identify websites to purchase
5 – Place your bid
6 – Enhance the website’s appeal
7 – Sell the website
Business opportunities in the online space are limitless. Make the most of this emerging trend and earn big time with a lucrative website flipping business.
If you find the above explanation helpful then please share it with those looking for online small business opportunities from home.