The way the digital economy has grown in recent times, it’s impressive, to say the least! When one thinks about making their living through the internet, the very first thing that comes to the mind is selling physical or digital products online. Mostly this is done through eCommerce activities.
Certain entrepreneurs are using an exclusive tactic to buy and sell websites in Canada. The good news is that you can definitely not only enter this game but also earn handsomely while you learn new facets. In case you have financial resources, you can buy a site that is already established and earning revenue. As a rule of thumb, it has been observed that the asking price of the site is ten times the monthly income of the site in question. In case the site is selling significantly less than that amount, you need to ask pertinent questions to the seller.
Successful web entrepreneurs create a site, make it up to the point of revenue generation, and then sell it. The revenue generated by carrying out this activity by the seller makes them put this amount in additional projects. However, if you think that it is going to be an easy task, then you are in for a real shock.
If you have an interest in buying a website, the very first thing to do is market research. If you Google with the keywords “How to buy and sell websites?” there are thousands of results available. Never take a piece of single-site information with a pinch of salt. Read through at least a few, which will help you save thousands of dollars. You may even come across an honest story of another person’s mistakes. Have a learning curve ready so that you do not make the same mistakes as others have made before while carrying out this activity.
The next step is finding out a prominent online marketplace in Canada. There are quite a few options available, like:
- Amazon.ca Marketplace
- eBay.ca Marketplace
- BestBuy.ca Marketplace
- SurplusCentral.ca Marketplace
It is incredibly critical for you to choose a reputed marketplace for your buying/selling transactions. Most of the sites charge a fee to carry out an activity; however, this isn't very important, especially with the amount of revenue that you can generate while purchasing a website from established revenue sources.
While negotiating for the purchase of a site, do not forget to check their Google Analytics account so that you can get a fair picture of the place from where the traffic is coming, the “bounce” rate, and time spent on pages of the site.
In case the site's popularity and revenue generation are solely dependent on a particular niche or specific writer, dig deep into that specific niche and access to the writer. Things might look rosy at the moment, but if you do not have the same resources, it would be not very easy to replicate the success.
As a start, websites having established paying subscribers are a safer bet than those which are dependent on the traffic from Google, social media, or affiliate sites. Get at least six months of data on traffic and revenue to take a fair call about the website in question.
Final Thoughts
Certain investments are better than others. Take proper diligence and avoid the pitfalls that first-time buyers usually fall into. That being said, there is nothing like a "sure shot thing" forever. The website that you purchase will require time, resources, and maintenance. Take a call only if you are prepared to carry out these responsibilities and maintain its relevance & quality. Otherwise, you may end up selling the site for considerably less than what you paid to get it.
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