If you scan through the television dial long enough you’ll likely find a program dedicated to flipping houses. In these shows you’ll be introduced to someone who finds a bargain on a run down house and envisions what the house could be like and what it might be worth on the open market.
They spend many hours cleaning, fixing, painting and bringing in new products. In some cases the ‘flipper’ spends more time and money than they thought and make a slim profit or none at all. However, there’s always those moments when a house flips for a huge profit. It is not unheard of for a ‘flipper to see a $30,000-75,000 payday when the house sells. This is above and beyond expenses.
You’ve probably read some about the idea of website flipping. Some people look at developing an ecommerce website and then selling it to someone else. Maybe you can get by with calling this approach flipping, but I want to talk about buying and flipping a business website that already exists.
Here’s what often happens – an individual has big dreams for a big idea and they execute that dream passably. The idea languishes when they lose their inner drive and purpose. They don’t really want to ditch the idea because it does provide income, just not enough to get real existed about reimmersing themselves into the guts of the dream.
Most of these businesses are not going to put a sign on their homepage saying, “Hey, I don’t really like this site anymore. Do you want to buy it? Dirt cheep.” Potential and existing customers would jump ship and any consistency in business would fade away.
You can make money online by flipping business websites. You might find a business that has a great domain name, but isn’t performing well as a business. Don’t get hung up on the idea of crashing someone’s dream. Find a contact email and propose dialogue on a potential buyout. They could tell you to take a flying leap or they could begin the process of negotiation. Either way the only thing you are out is a little bit of time in research and email inquiry.
Some online businesses just don’t know a lot about proper web design or marketing. If you can spend some time revamping the website to be SEO friendly and giving it a pixilated facelift you may see the overall value of the site improve to such a point that it has tremendous resale value.
The reason many individuals see this as a valid form of moneymaking is that they, too, will lose interest in any one site after a period of time. They want to get in, fix problems, improve the overall track record of the site and then spin it off to someone else who will likely find the improved site a bargain.
Everyone has their own way of determining the value of a site that they want to flip. One way that may make some sense is to offer the value of the last six months online sales plus twenty percent. That may seem like robbing the blind, but the owner may be more interested in seeing their idea succeed in the hands of someone else than failing on their own.