I was looking at some sites on the SitePoint Marketplace recently in search of a site to purchase for a niche I’ve been wanting to get in to. Since I tend towards being a dreamer, I always seem to find something that is enticing or has potential. On the flip side of that coin, I often think, “The money I’d spend buying that site could go a long way toward building and promoting a new site in the same niche.” Many times I’m left with a build vs. buy problem.
I think that many of us tend to respond a bit better to immediate results making a pretty strong case for buying an established site, or at least one with some type of foundation. That’s not always the best move though and can trap you in a site, structure, audience or content that in the long run could significantly reduce your earning potential with the site when compared to a built from scratch site in the same niche.
With that in mind, I thought I’d outline what I see some of the benefits of both sides to be. Today, I’ll cover Why Buy? and tomorrow I’ll go over Why Build? in part 2.
5 Reasons to buy an established site:
- There are some great deals to be had right now
This is probably one of the biggest factors in my mind right now for buying a site. The reason is simple: I LOVE a good deal. That’s one of the reasons I have to limit my time on SitePoint and expiring domains lists. I’d spend all day on them looking for high traffic sites, domains, blogs, etc. looking for a killer deal.
The economy has hit those with web sites just like everyone else, and an asset is an asset. When you need cash to put food on the table or pay your mortgage/rent, sometimes you have to sell your assets. As a result, I’ve seen some great deals on sites. Especially ones that previously were a little more expensive.
Just today I emailed a site owner I had corresponded with about 6 months ago to see if he was interested in selling a website for less than he was offering before. You never know when someone is going to need to sell, even when they previously were asking top dollar. This is where patience, persistence and some vision can really pay off.
The only thing you really need to do is find a place or two where sites are regularly for sale (I personally like SitePoint, but there are a number of them out there), then watch and learn. You’ll get a feel for what sites are more valuable than others, what ones present the most opportunity, bang for the buck, etc. I’m not big into site flipping, but that’s the basis for that method. It helps to know what niche or niches you’re after, then watch for those types of sites to come up for sale. Be patient. - It’s an easy way to jump in and get to work
I realized the other day that I’m a great starter, but struggle once things get going, yet before a site is fully established. I love the thrill of starting a new site, choosing a domain, getting things set up, thinking about the possibilities. I also do pretty well once I get into a groove. The problem is that in between time while the site is getting established. I get bored and easily lose focus.
Buying an existing site is a great way for a person like me to apply my oftentimes short attention span to an established project to give it a boost before handing it off to someone else or putting it in my daily maintenance routine. The basics are already set up and you can focus on building on the base. When it’s just you, that can represent an invaluable time savings. - You can save yourself time and be making money more quickly
As I mentioned earlier, most of us like to see instant or near instant results. Buying a site that is already turning a profit can be very motivating and as exciting as building a site from scratch that makes its first dollar. The day you take over the site after the purchase, you get to start seeing results.
As an added bonus, you’re not dealing with how to make your first dollar from the site. You’re instead dealing with how to make MORE money from the site. Same problem, but somehow more gratifying…for me at least. I’ve also found it a fair bit easier to increase profits by tweaking existing ways of monetizing rather than trying to break the $0 barrier. - You can walk into established traffic, product and audience
Similar to the previous point, this can represent a significant time and effort savings. Again I’ve found it easier to tweak an existing model when compared to building for the first time and trying to get things dialed in. Hopefully the site you buy has established traffic and an existing audience. You should also have an established “product” whether that’s a physical or digital good, a service, or site content such as a blog.
Sure you run the risk of botching things or making mistakes with the existing audience, but unless you really screw up, you should still be miles ahead effort wise. I’m consistently amazed at the amount of money site owners are leaving on the table by not giving even a cursory effort towards monetizing a site. The good news is it puts you as the buyer in a great position to pick up a site for cheaper with a decent amount of assets and strong potential for earning. - There is money on the line…chances are you’ll take it more seriously
This could possibly be the most important of the 5 reasons to buy a site. When it’s YOUR money on the line, you’re much more likely to take things seriously and put in the regular effort and work required to make it successful.
I can’t remember how many blogs are started every day or how many exist on the web currently, but I know it’s a staggering number. A bulk of those, based on what I’ve seen, end up with 1 or 2 posts or even just the default post with nothing more on them. Heck, I’ve even got half a dozen blogs in that same state.
My theory for why that is, is because it’s easy (and virtually free) to start a blog or web site. Since you don’t really have much on the line, there’s really not much incentive to bust your butt to keep things moving forward. One of the best things I’ve done blogging so far is to give away a Porsche 911 Cabriolet on PorschePerfect.com. I can’t stand to let a day go by without posting on that blog or working to move things forward since I’ve got a pretty significant amount of money on the line.
Whether you’re talking about a site worth $100 or one up for sale for $100,000+, buying a site can be a great way to get into a niche. It provides you with instant assets and hopefully a decent base to work from. My biggest piece of advice if you’re going to buy is to identify some criteria of what you’re willing to spend money on, then patiently look. You’ll be surprised at some of the deals that come across your browser.
Tomorrow we’ll look at the Build side of Build or Buy in Part 2.
April 22nd, 2009 at 10:56 pm
I haven't had a lot of experience buying websites, I usually build them, but I might have to start looking. I didn't think of the current economic conditions playing a part in getting a bargain.
April 23rd, 2009 at 1:31 am
i do agree with you by buying a website it s a great way to get into any niche considering thats why people do such plus they can be really beneficial as well in the long run as you build more backlinks, higher alexa rankings and what not it can be very profitable
April 23rd, 2009 at 6:50 am
I prefer to build my own blog or site because it reflects the real labor what we did with with our blog. It doesn't mean that i actually dont like your idea, it all about the felling.
April 23rd, 2009 at 9:13 am
Really very interesting and informative post.This reasons are very useful and valuable for site and blogs.
April 23rd, 2009 at 9:49 am
No, the best solution is to find good arguments and create a blog very stylish.
April 23rd, 2009 at 10:51 am
Thanks for the article.
I think buying establish websites are very good specially for those who has not much knowledge about web developing. Build a website is time taking and it take more time when you start its marketing
April 23rd, 2009 at 10:51 am
i would rather like to buy a website other than investing my money and time to build a new one.
April 23rd, 2009 at 11:15 am
Oh you seem to have analyzed the complete perspective in great details
April 23rd, 2009 at 11:38 am
i was wondering if the online marketing strategies had great role to play regarding these aspects
April 23rd, 2009 at 11:42 am
i REALLY TAKE THE FIVE REASON ON A SERIOUS NOTE. Good post
April 23rd, 2009 at 11:46 am
Exactly nice article if you want more business always buy a established site, it's expensive but you got more in future!!! nice article!!!
April 23rd, 2009 at 11:51 am
are your buying plans based on the SEO application ?
April 23rd, 2009 at 11:57 am
undoubtedly the time and money factors are great considerations and they get due consideration in this approach
April 23rd, 2009 at 1:57 pm
Good advise and exciting enough to keep waiting for the next one to conclude. I look forward to it.
April 23rd, 2009 at 2:36 pm
thanks for some tips for my consideration….to build my online business
April 23rd, 2009 at 10:36 pm
[...] we looked at 5 Reasons to Buy Your Next Web Site or Blog. Today we’re going to cover why it may be a good idea to build instead of buying an existing [...]
April 24th, 2009 at 9:10 am
Really i salute your best efforts.
April 24th, 2009 at 9:34 am
I prefer to build my site from new domain registration rather than buy a PR blog if I have no money. But when I have much money, I prefer to buy PR blog and optimize it higher so I can get result for higher profit hehe. thanks for your sharing
April 24th, 2009 at 3:06 pm
"Buying a site that is already turning a profit can be very motivating and as exciting as building a site from scratch that makes its first dollar."…this is not exactly true…I love starting up and I want my blog to be only mine
April 24th, 2009 at 3:21 pm
Buying is good, but usually you can get the same thing for less by outsourcing the writing and slapping up a blog.
April 25th, 2009 at 2:24 pm
i always prefer building instead of buying, it's just so much more fun and challenging!
April 28th, 2009 at 11:04 am
I also believe in building rather than buyiing though it does take passion and time both.
April 29th, 2009 at 12:35 pm
i think it will be good and useful idea for my blog.
May 4th, 2009 at 4:04 pm
always better built instead of buying – after all, you know how your website is designed and you know how to change it fast when you need some refurbishment on site
May 6th, 2009 at 5:16 am
It's always better to build your website than just buying it to take advantage of the huge potential it offers. However, making a website can be very confusing. Html, graphics design, programming, and website marketing are but a few of the things you will need to know. But there is always an ultimate solution for that right? That would be more challenging and exciting!
Great post. Thanks for sharing this one. Keep it up!
May 28th, 2009 at 3:19 pm
I think it would be better to build to the site yourself, but if there is something you want to dive into and don't want to do too much work, I guess buying a site would not be so bad.
May 30th, 2009 at 8:36 pm
I will like to buy a good one, building new one is really time.
June 6th, 2009 at 3:10 pm
I agree wholeheartedly. Buying a website and going from there is great way to start off on the web. Lots of SEO advantages plus in most cases you have a user-base.
June 8th, 2009 at 3:32 am
thanks for some tips for my consideration
June 15th, 2009 at 12:27 pm
That's good stuff. Although I always believed in building the website myself, this article really does give an insight.
August 8th, 2009 at 4:40 pm
I think many webmasters think of gaining money online through their blogs
September 22nd, 2009 at 2:43 pm
Excellent Post, google adsense is the great source for gaining money through blogs
October 10th, 2009 at 8:47 pm
Buying a website is a good idea if you have good amount of $, otherwise its always better to start your own website but it usually take a long time (around 1 year) to start ranking on the search engines.
October 27th, 2009 at 6:02 pm
Good post, there is a basic rule to get high revenue from adsense with blogs, try to target high CPC keywords, to easily gain more money
November 5th, 2009 at 7:46 am
if i can build one, then why not?
December 17th, 2009 at 9:38 pm
I think if you find an older website to buy it will better than build a new website, the older one will help you in internet marketing, thanks