Blake Hutchison, CEO of Flippa, talks about the opportunities for buying websites in this interview. For example, John Chen purchased eCommerce site Blush & Bar in 2017 for $7,500 when it was earning about $1000 per month. He sold that business 2 years later for $550,000.
Advice:
- Start browsing Flippa and hit the “save search” button and the site will send you links.
- Look for listings that are getting lots of views. If it has lots of interest, it is more likely to be a valuable site.
- Check the seller’s notes and make sure they have put a lot of detail there so you can see what you are buying.
- Start small so you can learn from your first website purchase.
- Figure out what you are good at and buy sites that you can improve with your skills.
- For content sites, you are looking for at least 12 months of traction
Business Opportunity: Rather than spending months or years building a site, writing content and trying to rank in search engines, it can be better to start with a site that already has monthly revenue. Flippa and EmpireFlippers are both great sites to browse to see what types of online businesses are selling and for how much.