After putting a lot of effort into creating your website, you have to consider the hard work you have dedicated and whether you really want to sell. Your website is likely to make profits in the future so make sure you are selling your website for the right reasons.
That being said the top three things you will need to consider are:
Finding The Right Buyer
When you have decided to sell your website. Looking for the right buyer is a challenging process. You simply cannot just settle with one deal or meet up with just one buyer and decide to shake hands and make your final deal. You cannot afford to just settle with one person especially when you only get one shot at selling your website. When it comes to selling websites, whether it’s business model is advertising, products, memberships or simply a site that contains your hobby will determine who you find as a buyer.
Keep in mind that when you’re about to sell, do not just think about the figure the buyer is willing to offer. Think about the buyer. Think who this website will benefit the most, who has the most synergies with your customers, who can get the quickest return on investment. Basically who is going to pay you the highest price. Because at the end of the day you are looking for a big pay day.
I have put together a list of places. You can find buyers at these locations
- Database of a website broker
- Large internet buying companies
- Classified Sites
- Marketplaces (like flippa.com)
For a more detailed list including links to places where you may find buyers, check out the ultimate website selling guide.
Marketing Your Website
There are ways to make your website known especially when you have the intention of selling it. Buyers want detail. Buyers will want to get into every single detail about the website there is. They will want to ask 1 million questions before they will be satisfied handy over their hard earned cash. Let’s face it, if you are going to spend large sums of money on a web business you are going to want to make sure you are not getting a lemon.
Make sure you have prepared the following:
- Traffic proof
- Income proof
- At least 12 months financials
- A proper valuation.
- An explanation about how the website makes money
- An explanation of how the business runs
- An explanation of your role as the owner
Note: you might want to try a business valuer to get a traditional valuation for your website. Check out this site for more info.
Should You Go To a Website Broker?
Website brokers are in charge of marketing your websites to potential buyers. They are the ones responsible for negotiating prices, collecting payments and handing over your website. There are a lot of reasons why hiring a website broker is a good idea. Website brokers are experts in this field and with them, you can ensure total confidentiality, professionalism and success in the sales process. Since they are in the industry of selling websites, they already have a huge network of targeted buyers which may be of value to you since you won’t have to spend for your own advertising. They can also ensure that you would get the right price and profit for your website as they also employ strategies in pricing.
The best thing about hiring a website broker to sell your website is that they won’t charge you for their services if your website doesn’t sell. They operate on a 100% commission basis, which is convenient if it takes a long time to sell your website. It will also ensure that they will do their best to sell your website for the highest amount possible. Their standard commission rate is at about 10%. If you have a small website, they can charge you a maximum of 15% of the total profit. And if your website already costs over a million dollars, they would be flexible with what they will be charging you.
Another great advantage of getting a professional website broker to transact in your behalf is the fast turnaround time. Website sales typically range from two weeks to four months, which is depending on what your website can offer to its potential buyers. What usually makes the sales process slow is the fact that buyers may need more time to finalize their purchasing decision, especially when questions need to be answered by the seller.
The website brokerage agreement usually lasts up to 90 days and if after this, the website is not yet sold, you may look for another agency to assist you with selling your website.
Once you sell your website, make sure all the necessary documents and final negotiations are in order and never hesitate to ask for assistance if you feel that it might be necessary. Case in point, selling your website or any other property is not as easy and takes time. But once you have accomplished this, the feeling of handing the rights to your website to someone else may be sad at first, but as long as the website will be in good hands, you won’t need to worry. The next step, move on to newer ventures.