Website flipping is an internet marketing activity that has generated a lot of interest, and has gained more over the last few years. Actually, it has been around much longer than a few years and has existed in many forms, however it is only recently that it has started to interest a broad cross section of marketers, as they begin to realize just how profitable it is to flip websites for cash!
How Does Site Flipping Work?
The central concept behind website flipping is a simple one. Basically, it is acquiring a website and then “flipping” or “selling” it at a profit. Obviously, this is nothing new and it has been done for years. As an example; some time ago, Hotmail.com was sold to Microsoft for millions, and, more recently, YouTube was sold to Google. Over the years, this has happened to numerous websites, these just happen to be two of the biggest.
How Has Website Flipping Evolved?
At one time, the.com craze meant that a lot of people were ‘flipping’ domains instead of websites. What this meant was that people would buy domain names that might be considered valuable, such as Internetmarketing.com, and then market them for premium prices. Nowadays, remains an integral part of website flipping, but these days, it isn’t enough to just sell a domain name unless it’s a particularly good one (at any rate, most of the good names are taken or need to be bought for ultra high prices).
The Basic Strategy of Website flipping
At its most basic, the concept of website flipping, or selling websites at a profit, means that you need to convince possible buyers that the website you want to sell is worth more than you bought it for. Therefore, you either need to find a website that was undervalued in the first place (and then sell it based on its actual value), or you need to enhance and spruce up the website you want to sell so that it is more attractive than when you first purchased it, and so can be sold at an increased value.
This is the difficult part of website flipping, and is the reason why many people often find it tough to do when they first get started. If you have no previous experience building or upgrading sites, you could become mired down trying to figure out how to improve your site.
Take heart though, as there are many resources out there to help you. The forums are full of people willing to offer advice and information to new marketers, provided you contribute back. With a little research and study, you should be able to learn all that you need. So, with that said, you may find that website flipping is potentially an extremely profitable enterprise. Just make sure you go into it with your eyes wide open, and that you are prepared to do the work to learn what you need to make flipping websites for profit a viable venture.