Writen by Dennis Blasius
So, you picked up this article because you're interested in purchasing your very own website. Perhaps you've seen one that interests you or maybe you don't have a clue what type of site you want. It honestly doesn't matter which stage of the purchasing process you're in because this article is your handy little guide that will keep you from getting had.
In this article, we'll discuss how to choose the right site from the beginning, how to research it, and much more. By following these proven steps, you will choose the right site and make an immediate return on your investment.
So, sit back, relax, grab a cup of coffee or tea, roll up your sleeves and get ready to learn the low down on how to purchase a website.
1. Know What You Want. First and foremost, you must decide what it is that you want to accomplish with your site. In order to make this determination, ask yourself the following questions: Are you looking for a site that will generate substantial profit or one that you'll own as a hobby? Are you looking for a site that will truly make a difference in the world? Are you looking for a site that targets a specific audience? Are you looking for a site that you can buy, improve and flip quickly for a profit? Are you looking for a site so that you can gain access to its domain name? In essence, whatever your goals are, you have to know what you want before you move on.
2. Be Honest With Yourself. Once you've pinpointed your purchasing goals, you should figure out if your goal makes sense. For instance, if your primary goal is to make a profit; you have to realistically decide exactly how much profit you want to make. You should now decide who will be your targeted market and what type of site will help you achieve your goals. Lastly, be specific about how you'll make your dream a reality.
3. Commit Yourself. Next, you must decide whether you have the time to make your purchasing goals a reality. Although buying an existing site takes less time than creating a new one, being a site owner to an existing site is still a lot of hard work. Don't take this for granted. Once you find the right site, you will then have to handle the transfer, control marketing and upkeep, deal with existing and new clients, and ultimately make or keep your site a success. You can't just "buy a site and then wait for it to achieve greatness." You have to work hard and be committed to making it successful.
4. Find Appropriate Sites. Once you're committed, you should find sites that appeal to you and your goals. These can be underperforming sites that have potential or they can be well established sites that have highly popular keyword niches. Either way you have to be willing to search deep on the web to find the right site for you. To do so, you should use main search engines to locate websites in your targeted industry. You can also visit sites like www.website-buy-sell.com that specialize in matching owners with potential buyers.
5. Compare and Contrast. Fifth, once you find a few sites that interest you, you must take some time to compare and contrast them. Rate them in terms of usability, marketability, overall design, use of graphics, site sophistication/depth, search engine ranking, and content readability, originality, and overall quality. Then, shortlist the ones that you're most interested in and be ready to follow the next steps.
6. Contact owner. Sixth, find out who owns it and then contact them via phone or email. It doesn't matter whether they've advertised selling the site or not. Once you make initial contact, be professional and let the owner know that their site interests you. Inquire about whether they would be interested in selling. If they are interested, ask them to provide you with an "asking price" as well as tracking and reporting information. If not, ask them to contact you when they are ready to negotiate. After you gather preliminary information, tell them that you will make some further evaluations and may be making an offer in the near future.
7. Appraise it. Either hire a professional appraiser or conduct your own site appraisal. If you do it yourself, be prepared for a lot of work. Either way, make sure that the appraisal is extremely detailed and contains key information such as: the site's usability, sophistication, cost of running it, current subscriber base (if any), trend information, value of the domain, who links to it, cost to develop the site further and integrate additional feature, etc. In essence, this comprehensive appraisal will be your blueprint of how much to offer.
8. Make Your Offer. Once you've figured out how much the site is worth then make your offer. Never be afraid to negotiate and always offer less than the site is worth and be prepared to justify why you're offering less. For instance, if you believe that the content will have to be rewritten then factor this in and deduct from the price. If you think additional features will need to be added to make it marketable then factor that in also.
9. Be willing to walk away. Don't get so caught up in the negotiating process that you lose sight of your goals. Always be willing to walk away if you aren't happy with the negotiating process.
10. Sign and enjoy. After you've reached an agreement with the site owner, make sure that you get everything in writing and that it includes detailed and comprehensive information. For instance, you can include whether the new owner can compete with you, how much support they will provide, whether they'll receive any profits, whether the content transfers over to you, etc.
In conclusion, purchasing a website can be a fun, rewarding, and exciting experience if you the follow the above mentioned steps. By doing so, you'll save yourself a lot of heartache, time, and energy and can do what you do best, run your new site.
Dennis Blasius recommends you check out: http://www.website-buy-sell.com/
