Selling websites (or website flipping) can be a great way of making some cash online. The price of your site will be determined by its value. The more profitable and established your site, the higher you can sell it for. It is even possible to sell your site for $100,000 or more. Here are some of the benefits of selling your website:
1. You can make money
One of the obvious benefits of selling your site is the cash you stand to make. Instead of waiting for a long time to make money from your site, you could simply sell it and earn a lump sum. This can be especially useful when you need a huge amount of cash quickly. However, when it comes to making money, timing is everything. It would also be advisable to wait until the value of your site has been optimized.
2. Avoiding anticipated risk
Some people don’t sell their sites due to the fear of losing long-term revenue. However, there is no guarantee that your site will continue making profits. For instance, with the Google algorithm changes, many sites which were profitable are now valueless. The popularity of your site can also drop due to increased competition in your niche. Therefore, it would be advisable to sell your site now to avoid future risks.
3. More free time
Maintaining a profitable site usually requires a huge investment of time. The problem is even greater when you have several websites to maintain. Selling your site thus enables you to free up some your time and focus on other more productive tasks.
4. Focus on other areas of interest
After running a website for several years, you might find yourself losing interest in the subject. When you develop other interests, maintaining your website can become a boring and frustrating task. In such a case, selling your site allows you to create more time to work on other projects which you are passionate about.
The following are some reasons why it might not be a good idea to sell your site:
1. Lost income
If you decide to sell your profitable site for a one-time payment, you are forfeiting the opportunity of earning ongoing revenue. If the site was your main source of income, you will have to find another source of income fast. Failing to do so could result in financial difficulties once the lump sum runs out. Therefore, before selling your site, you need to be sure that you have other sources of income to support yourself.
2. Loss of control and influence
Selling your site means surrendering control of it to someone else. Even if they make changes which you don’t agree with, there is nothing you can do about it. Losing control can be very difficult especially if you had a strong emotional attachment to the site. In addition, selling your site will could mean losing the influence you had built in the niche or industry. This could have detrimental effects on your business as well as brand.
3. Low prices
Most website buyers are looking for offers which will cost them as little as possible. Even if your site is valuable, many people would not be willing to buy it for what it’s worth. Therefore, if you are desperate, you might find yourself selling your site for a pittance. It would therefore be advisable to hold on to your domain until you find someone willing to pay a reasonable price.
Whatever you do, don’t rush into selling your site. Take time to consider all the advantages and disadvantages.