Website flipping is another new way to make money online. This idea has made some people rich. Website flipping means buying and selling websites. You can buy web real estate at a low price and then flip it for up to 100 times the original price. This is like any real estate. You are required to work hard to increase the value of the website. This means generating more traffic and (most importantly) profit from the site. Many Internet entrepreneurs have built profitable websites from scratch with the aim to sell for profit.
Website flipping is defined as the art of building or 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. Techpreneurs build or buy an established website, add value to the website and then sell the site for a higher price.
There are key steps in Website Flipping. You need to register a Domain Name. Be creative in the formation of a domain name. It is good if your domain name contains some highly searched key phrase. There is the need to consider all attributes and ideas that make domain names popular in relation to driving traffic. Memorability, simplicity and availability of the name is also very important. You can contact a NiRA Accredited Registrar (www.nira.org.ng/accredited-registrars) to register your preferred domain name. Then develop/build a worthwhile website.
Alternatively consider purchasing a suitable website. You must note that this is easier said than done. It is an important step and sufficient care must be taken. This is a step that most people do incorrectly.
Whether you build or purchase a website, it must be enhanced. You must add value to the website. Generally you must make changes that increase traffic or income. Increasing either or both of these factors significantly will almost guarantee a profit.
The last step in website flipping is selling. In theory, any value added to a website should result in a higher market price and deliver on a profit.
There are 3 different types of Website Flipping
- Beginner’s flipping: A website is built from scratch. The website is promoted and then sold once the site has traffic. This method is time consuming but does give 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 where a fixer upper website with some potential is purchased, quickly enhanced and sold at a higher price. The choice of website is the most important element here.
- Long Term Investment Flipping: This is where a website with proven monthly recurring income is purchased and then developed for a long-term investment. This requires investing more money and requires plenty of patience and skill. The owner/investor may decide to hold onto the site for years whilst profiting from its income capacity and then sell the website once it reaches a market threshold for an increased price.
Benefits of Website Flipping
There are two main benefits that website flipping has over other industries. Firstly, this is a low capital investment in comparison with property or domain investment, allowing the average Internet entrepreneur to actually enter the market. Secondly, it provides opportunity for income possibilities whilst “enhancing” the product.
Website Flipping provides money making opportunities online, with many Internet Entrepreneurs profiting from this website business.