Selling blog in quite easy but you need to know how to maximize your sale price. This post is an approach to make your transaction quickly and without stress. If I miss anything please comment below.
1. Gather data and discover your site’s value
Before selling your blog, you have to figure out how much you are willing to sell your blog for. This stage is called the valuation and this is really too complex and controversial in web marketer arena. The thing things that you need to consider.
- How much money are you making from your blog?
How much does your site make per month, on average? Are you earning in consistent manner or you had sudden spike to your earning? Most to the web marketer evaluate your consistency rather than your earning!!
- How much are you willing to get from your blog?
No matter how much you blog is making right now but you should have a perspective of long term earning that you would do if you own your site. Your buyer might not be as emotional as you are for your blog. So before placing and accepting bid evaluate you blog earning and future earning very thoroughly .
- How much is someone willing to pay?
Like stock market blog selling follow the same concept. True value of your blog is what someone is willing to pay. The other method might be speculation. So think realistically, don’t overvalue your blog at the same time don’t undervalue your blog price. Like Google’s stock, your blog might be a gem if you work for a long period of time. SO ACCEPT BID CAREFULLY
The simple method of calculation is Lets say your website is making $100 per month. So your early revenue is 12 X $100 = $1200; You took 3 years time to generate $100 per month so your Valuation should be 3 X $1200 = $3600. If your content is niche and growing YOY 18-25% in terms of subscriber and views. You can surely place your bid $3600.
2. List your blog on Flippa.com and point other listings to that sale
The best place to sell your blog is, without a doubt, Flippa.com. This website is solely designed for selling websites and as such it has a lot of serious buyers with real money to spend on quality websites. There are other places to sell your blog but most of them don’t have the same protection and reputation that Flippa has so what I do is just use them to direct traffic to my Flippa listing. For example, you might want to create a thread on Digital Point Forums about selling your blog but then say that the purchase can only be made over at Flippa.
3. Create a truthful and enticing listing with all the necessities
Your listing must be enticing but it must also be truthful. If you lie on any of your statistics or earnings you will get found out. The guys spending $5k plus on websites know what a cheat looks like and the will, most of the time, take legal action if you mislead them. Make sure you sell your website as much as possible but don’t manipulate any of the facts.
Your listing should:
- Have a catchy title
The title is what draws attention to the sale. Make sure it is catchy and sells the benefits of your website. Include things like a high Page Rank, monthly income, large traffic numbers, etc. if they are what is working in your advantage. For example, if you have a lot of RSS subscribers but not much income your title could be something like: Cooking Blog with 5000+ Subscribers, Top Google Rankings, Massive Opportunity. Always take the option to list your sale on the front page of Flippa. It is expensive but worth it.
- Include screen shots of your data
You need to include screen shots of your important data items like traffic proof, income proof and so on. You can also go one step further and take screen shots of popular articles and Google rankings. This is not required but it really gets people interested. To take a screen shot on a Mac just do Command-Shift-4 and on a PC just press Print Screen and then Paste it into a blank Paint Canvas. Windows 7 users (well done!) you can just use the Snipping Tool. Make sure you blur out any sensitive information like account numbers and number of click in Adsense.
- Use dot points to show benefits
A website listing is just like a blog post – people only skim read. Use dot points and headers to divide your listing in to areas of traffic, revenue, subscribers, etc. You should also make a summary dot point list at the top of the sale showing all the advantages and benefits that the buyer will get when purchasing your site. Focus on benefits, not just features. If you have a number one Google ranking tell them why that is going to benefit their business.
Don’t be stingy on the amount of time you spend writing this listing. All your hard work can be undone by laziness at this stage. Spend some time looking at the other listings that have lots of bids and see what they did with their advert. Make sure you really have a tight, easy to read and enticing listing before you put it up.
4. Price it properly
When I list a price for my website I always put it at slightly higher than what it is worth using the 12 x monthly revenue model. This has the effect of leading your buyers to believe that it is a quality site and getting them to delve deeper to see why it is priced so. I then set the reserve price at the level I am ready to let it go for. What often happens is you get into negotiations with a potential buyer over email and work out a price that suits both parties. If you set your initial price too low than you can’t bargain up, only down. Keep this in mind.
5. Make sure your site is clean and working
Something that a lot of newbie sellers do is forget to tidy up their website before the sale. I even remember visiting one listing and noticing that the site had just been hacked. A very unfortunate bit of timing but you have to make sure it doesn’t happen when you are trying to make a good impression.
Before you post the listing up make sure your links all work, your site is cleanly coded and there are no cross browser design flaws. For example, sometimes people’s sidebars go a little out of shape in IE or Safari. Make sure all of these issues are sorted out before you sell.
6. Accept payment only through Escrow.com for above $5,000 sales
Escrow.com is a website that makes your sale very safe. Why? Because they only release the domain name to the buyer once you have received the money. Here’s how Escrow works.
You open an account and then create a transaction between you and the buyer. You both agree to terms and then the buyer send their money to Escrow’s third party website. You then send the files to the buyer and once they have approved them in the Escrow website they send you the money they have been holding. The idea is that you don’t send them the domain name until you are certain they are going to pay. Escow makes sure of that.
Paypal is a wonderful service but I have heard so many horror stories about people who have transferred their domain and then had the buyer charge back the money. They lost out big time. Quite often you can get your domain back but it is massive hassle I would try to avoid.
7. Check your local tax laws
Before you make that sale ring your accountant and check your local tax laws. In Australia, for example, if you sell an asset after owning it for less than a year you get an rather big tax penalty. Selling a blog after eight months might, in that case, be a bad idea. Make sure you know how much tax you are roughly going to be charged and what category the sale falls under. For example, is it part of your income or is it a capital gain?