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I would say that starting from scratch is the hardest, and that is precisely the reason everyone should do it, at least once.
That said, if you’ve done that and are looking at adding/expanding, I suppose buying a site that is past the initial stages is a bit of a shortcut. But depending on how comfortable you are with the niche, you’ll still have a lot of learning to do. I’m not sure if it’s saving a lot of time, especially considering the money you have to put up up front.
You either have to invest your time or money. The more you invest of one, the less you have to invest the other. I guess the right answer depends on who you are.
ari
There are definitely benefits to buying an established business. Years ago I bought a franchise territory of a computer school for kids. Everything was already laid out – how it worked, the marketing materials, what I should do, etc. But in the end, it was never my baby like my blog is. I made a great living for a while, but when things got a little show, I sold it and moved on. Because I created my blog myself, it is much more a part of me. Now, I just need to start making more than a few dollars from it.
Interesting you mentioned the business of flipping site because I have been thinking about doing the same. Unfortunately, it’s a little tough for me to start with 5 sites already in my portfolio.
I haven’t heard anyone making any good money from ‘site-flipping’. If you are going to try it, try it with a small site with a low investment, just to learn how to do it. Then, go for a larger site.
Here are some other options to consider;
- you could sell one of your sites and then have time to re-invest into another site
- you could duplicate one of your sites with a new domain name
- you could hire someone to find you a good site to buy
- you could expand your current sites by adding new services
I have been looking at sitepoint for a while now too. I don’t think most of them look like good ideas. Many of them could lose their pr from google and then there go all their earnings down the drain. I did get the idea to start a game site (which i did) from sitepoint. Even though I didn’t buy it.
Hi! Thanks for checking out my site… I’m really glad you found it inspiring. I honestly had little intention of buying a business…but this one was what I wanted to do anyway, and he has a good plan for making money every month…which is what I needed most.
I’d recommend being on Sitepoint for at least a month before you buy anything. You seem to have already sniffed out most of the scams…so that’s good. I’d also stick with Established or Premium sites, as often the Turnkey sites are not much more than a domain name and a template (with no traffic).
Good luck, and I look forward to reading more on your blog!
-Erica
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