What’s a business if it cannot help you make huge profits? It doesn’t matter if your business flourishing in the real world, or virtual world; the thing which is important is that it must empower you to get the most of your investments. Every blogger today knows about Flippa, and if you do not, I’ll explain it to you. Well Flippa is a service which allows you to buy and sell websites based on different niches. It has emerged as a popular marketplace for all those bloggers who need to sell their website either because they are quitting blogging, or if they are looking forward for some extra money. Whatever be the reason, but the entire process of making an excellent site, maintaining it for a few months, and then selling it has emerged as a quite fruitful business today.
There are multiple success stories of bloggers who have earned thousands of bucks for their sites from Flippa. The online website buying and selling portal allows users to create free accounts, but if you need to sell your website, you will have a pay a fixed amount of mone. If you are a newbie here, I’ll try to throw some light on basic procedure to help you flip your site.
Basic Guide to Start with Flippa
1. First of all, you need to register for a free account on Flippa. For this purpose, you must use an email id which you check regularly as most of the communication is done only through emails. I would never want to miss any sort of new activity on my auction page just because I used an id which I open once in a month.
2. To complete your profile, simply fill in all the required details, and upload a professional profile picture to make a better impression on the buyers.
3. Do not forget to verify your profile, as it will help you gain credibility to your profile.
4. Once your profile is complete, the next thing which you need to do is click on the option Sell Your Website which will bring on a similar looking page.
5. After adding the site name, the next step involves adding relevant site information.
I have seen in most of the cases that people prefer to give long descriptions of their site, but this is not what is expected here. You need to keep your description short, simple, and focused to the point. Be straight forward and try to produce only the relevant information.
An ideal description must highlight the following points:
- Website Summary
- Seller information
- Features of your product
- Extra services you are offering with your site
- The role you and buyer would play once the deal is complete
- It’s also a good idea to mention a short reason for selling the site. If the reason is absent, most of the buyers think that you are selling your site because the stats are degrading with each day.
6. You must provide at least three to five traffic reports of you website clearly indicating the number of page views, unique visitors, traffic sources, organic traffic, average traffic per day, etc. All these fine details will add to the confidence of the buyer, and encourage him to finalize the deal with you. Take a point here that you do not need to show a lot of traffic reports as they will simply confuse the buyer. Also make sure that the reports you are providing are current. Try to include the latest month report too. This also saves you from the large number of private messages which arise if the figures are missing.
7. You need to provide true income figures, as once the buyer tries to dig out the roots of the site, you might end up in a good trouble.
8. The next thing on the door is setting up your bidding options.
- Deeply analyze your site, and the market competition before setting up your reserve price. Take good care to ensure that neither you, nor the buyer has any kind of problems with this price. Try to keep it low so that even limited budget buyers do not face any problems in bidding for your site.
- Choose your Buy It Now Price (BIN) wisely, as awkward prices simply depict your unawareness of marketing strategies. Few bloggers adopt a strategy of keeping their BIN price about three times that of reserve price, and I really appreciate this technique.
9. After every detail is complete Flippa would take you to payments page. The platform has several payment ranges for different kinds of sites. The image below would give you a brief idea on the charges that would occur on your behalf.
10. Once your site goes live and is ready for bidding, many users will start to bid for the same. Here you need to be a bit careful while accepting bids as you would never want to stop your bid after a really good offer, and later realize that the bid was from some untrusted spammer. Flippa has no shortage of fake accounts trying to ruin your bidding by putting down irrelevant offers.
11. Do not hesitate to reply to the comments and private messages, as a better interaction with the client is what would help you achieve what you desire. Remember not to be rude, or not to put down your self-esteem just for a few extra bucks.
12. Once your auction is complete, try to dig out as many details about the buyer as possible. Try searching on his previous records, check his trust factor, and analyze his profile, before you transfer your domain to his name and receive payments.
To compute the website’s worth on Flippa, a very simple formula is used:
Website’s worth = Yearly income X Value Factor,
Where yearly income goes on for the income which a user can make online per year from the site, and trust factor ranges from 1 to 10. Other factors that are valued include the technology used for building up the site (open source, or custom built), site age, Google page rank of the site, leading traffic sources, countries which contribute to the most of the traffic on the site, niche of the site, the quality of the content posted on site, number of subscribers and followers, etc. If you have a well-established site, and you are not able to handle it due to any reason, then Flippa can help you get the most out of it. The basic points mentioned above are sure to help any newbie designer to sell his site on this platform, and if you feel any issues with any of the points, feel free to drop your queries in the comment box.
Selling out your product is always better than allowing it to rest in the old shelves which expose it to the dangers of catching rust making it useless for further use.