Virily Editor
There are several reasons why you may be considering buying an established website rather than building a new one from scratch. Buying a website usually means that you’ll be getting an established online business with a name and a following, so publicizing it isn’t going to be as much effort. Along with this, a ready-built website may already have a good backlink profile, so you’re buying a site that is already more authoritative and popular compared to what a new one would be.
But before you buy a website, there are some tips to keep in mind.
Why Buy a Website?
First of all, it’s worth considering why you want to buy a website. There are multiple reasons why people go down this route compared to building a site from scratch. If, like most people, your main goal is to make a profit, then buying a ready-built website means that you have a lot of financial advantages. Along with this, you’re ready to hit the ground running straight away as the lengthy process of creating a site, registering a domain name, and creating content has already been done. Some people enjoy the challenge of ‘flipping’ a website, or taking a website that has potential, and making the changes that it needs to fulfil it.
Whatever your reasons, there are some key things to consider before you get started.
Website History
Firstly, it’s important to know how long the website has been running. Like any other business, you can usually expect a website that has been operating for a longer time to be more stable. And, over the years they will have generated a good name for themselves and more revenue, making the site easier to publicize. The history of the website, including its reputation and profit over time, is a key factor to consider when setting a multiple and valuing the website.
Ease of Editing
Buying the website is usually an easy process but making the changes that might be needed for the website to reach its full potential and you to get the profit that you want from the investment can be more challenging. Because of this, it’s worth checking out the back end of the site before you buy, to help you determine if you can easily make changes as needed. Consider if you will be making the edits yourself, or if you will be working with a developer or programmer.
Website Platform
Another main factor to consider before you buy a website is the platform that powers the site. Before buying, figure out if the website is on WordPress, Magento, or Shopify, for example. This will give you a better idea of how easy or difficult it is going to be to keep the website maintained based on your skills or the skills or the person you’re going to entrust with website updates and maintenance.
Understand Your Demographics
Before buying a website, it’s important to know your target demographic well as you’ll need to look for a site that appeals to them in order for it to be a success. When you buy a website, you are going to inherit its followers or customers.
Traffic Quality
When it comes to buying a website, traffic means money. When more people are visiting the website, this will usually mean that you can earn more from it. When looking for a website to buy, it is crucial to look out for a website that is generating a decent revenue and has a lot of traffic. Along with looking at traffic levels, it is also worth finding out more about where the traffic is coming from, as traffic from certain areas and age groups is often higher value compared to others.
Marketing Strategies
Finally, before buying a website, it is worth finding out more about the type of marketing strategies that have been used for it in the past. You will need to understand how the website has been marketed and the strategies that have been used to make it what it is today, in order for you to remain competitive in the market as the new owner. It will also give you a better idea of which types of marketing are best for you to invest in for the future. For example, if the previous website owners have already done enough SEO for it to rank highly on search engines and be easily found, you may want to direct your marketing efforts elsewhere rather than shelling out for a lot of SEO that isn’t needed.
Buying a website can be an ideal alternative to building if you want a ready-made business with followers or customers. Keep these tips in mind for a successful purchase.
