How To Sell Websites Fast !
This article will explain in depth the steps needed to sell your website fast in today's marketplace.
Step 1 Establish a Reasonable Price for Your Site
How Much Can I Get?
Before you sell, it's a good idea to know how much the domain is worth. Market prices for domain names can run from a few dollars to thousands of dollars for premium names. The domain name "Loans.com", for example, sold for $3,000,000 just a few years ago. The key to deciding whether or not to sell a domain name you own is to determine its worth to you if kept and, alternatively, how much a buyer is willing to pay. You may have heard ?rags to riches? type stories of cheap domain names resold for hundreds of thousands of dollars. During the good old days of the Internet boom this was possible. However, things have slowed down considerably since then and there it is very rare to hear of a domain name sold for more than $10,000. However, while big deal domain sales do occur less often in today?s domain market, selling domain names can still be very profitable. Short, catchy, top level domain names are selling for upwards of $5,000 on the domain aftermarket. Other longer, but still usable, names may be worth hundreds of dollars.
Pricing is relative. Relative to your desire to sell, the type and timeliness of bidder inquiries (individual or corporate) and how well the sale price is negotiated. Don't try to fit your domain name into some 'proprietary pricing model'. Every domain name is applicable to a different target market. Determine who your potential buyers are before determining your asking price so you don't over or under estimate that price. Most names (~85%) sell for between 15%-40% of the asking price. Exceptions to this trend:
* Fantastic names - Truly great names can command what a seller requests, unless that amount is unreasonable.
* High asking prices - Names that have ridiculous or greedy asking prices rarely sell. Important!
* Poor names - Names littered with hyphens, adult names, "4"s for the number "four", "2"s for the number "two", "U"s for the word "you", etc. Don't waste your time listing names like these. They rarely sell.
How Do I Determine My Sites Worth?
Selling virtual real estate is a lot like selling physical real estate. Just like with the housing market, website ?homes? (also known as domain names) can be purchased for a low cost, remodeled and decorated to look very attractive to potential buyers, and sold for a considerable profit. To understand how this works, first consider that you were in fact selling an actual house built on land instead of an abstract entity on the web. It would be impossible to price your home without doing extensive research to determine its worth. You?d need to take many factors into consideration, such as: size, landscape, curb appeal, the value of other properties in the area, the current buying market, and ? perhaps the biggest factor ? location, location, location! You?d never dream of arbitrarily assigning a sale price to your home without having some idea of its worth and what buyers might be willing to pay. If you underprice your home, you could be missing out on a substantial profit opportunity. However, if you overprice your home, you might not be able to sell it at all. That?s why it?s so important to have all the facts before putting your home on the market ? and the same holds true for selling your virtual home on the web.
When determining your sites value, you may need to do some research online. It is often a good idea to compare different websites on the Internet and to see which sites catch your eye. You can make a mental note of the methods used on websites that were appealing to you; then you can use those ideas when creating or updating your own website. The design of a website is very important when you are trying to sell an existing site online. The design should be bold and colorful, but should not be too busy. You may want to use colors that relate to the theme of the site as well. For instance, if you are selling bottled water, it would be logical to use shades of blue on your website. However, no matter how brilliant the website design is, the purpose of the site must also be useful for the website to sell. A good website will revolve around an interesting idea or useful type of business. To reflect the purpose of your website, you should include clear, informative content that is easy to understand. A website with a clear and interesting purpose is very likely to sell on the Internet.
What Makes a Site Valuable to Buyers?
These days most websites are valued by the number of visitors they attract. One common yard stick is your domain name is valued at $10 to $30 per hit per day. If 1,000 people land on your front page each day, your domain could be worth $10,000 to $30,000. Another optimistic way of looking at domain values is each unique visitor you get over the course of a month is worth $250. If the visitor clicks to a second page on your site, her presence is worth $500. By this measure, a site getting only 10 hits per day could go for $15,000. This strategy is a lot like the way traditional businesses have always been sold. The more customers a store has, the more it is worth to a buyer. That is a pretty solid way to value domains. It is a model that is likely to be around for a long time to come.
Here are some of the main questions a typical buyer will ask him or herself when considering whether or not a website is worth purchasing ? and at what price:
1. Is the site making any money? Is there proof?
2. What is the potential for future profits?
3. Does the site have traffic? Is there proof?
4. Is the site attractive/well designed? Is it functional and user friendly?
5. When was the domain name registered?
6. How is the site ranked with the major search engines?
7. What does is take to maintain the site? i.e. hosting fees, content addition, promotion, etc.
8. Why does the owner want to sell the website?
If you?ve purchased a unique domain name with a great deal of potential value, it may not be necessary for you to have an existing website in order for you to sell your domain name for a profit. Typically, domain names will sell based on its performance in four key categories:
1. Commercial Development Potential - The ability of your domain name to be used as a brand, redirect, campaign address, etc.
2. Recognition - The relevance of your name to the market and how easy it is to remember.
3. Length - In most cases, shorter is better. However, a longer more obvious name can sometimes be more valuable than a short classified-ad contraction style domain.
4. Extension Value - This refers to the .COM part of your domain name. Currently .COM names still command the highest values followed by .NET, some national domains (such as .UK) and .ORG names.
How Can I Guarantee I?ve Priced My Site Correctly?
Unless you are a true domain name expert, we strongly recommend having your site professionally appraised. In fact, this is probably one of the most important steps you can take towards ensuring a successful sale of your site. Appraisers are professionals and experts in their field, and they have the means and methods to conclude what your domain name is worth. As we mentioned earlier, if you place an exaggerated price on your name, potential buyers will be scared away from making a reasonable offer. If you undervalue your name, you may end up kicking yourself when your newly sold name rakes in millions ? for someone else. Furthermore, an appraisal is a very handy thing to have when buyers want ?proof? that your name is as special as you claim. In the end, it is an exceptionally valuable asset, available for a very small price.
For information on UK Website for Sale?s professional appraisal services, visit: http://www.ukwebsiteforsale.co.uk/appraisal/. They offer a 20+ page Website Appraisal that can dramatically increase the value of your website. No one on the Internet offers a more complete or cost effective Website Appraisal, and certainly no one offers all the extras we do that are included for FREE!
Step 2 - Prepare your Business Information for the Sale
After you have decided to sell your business for whatever reason and chosen an asking price that you can support (hopefully with some advice from research or, even better, through a professional appraisal service), you are now ready to talk to some potential buyers. Or are you?
Much like the asking price, the art of preparing your business for sale is not that easy. So, what do you need to successfully prepare the business and information? The list and needs vary greatly over business types, revenue sizes, verticals, and so on. For any business, the basic requirements for what you will need are quite similar. At the very least, you should have the following items:
1. Business Summary -- what it is and why you are selling
2. Business Plan/Marketing Plan -- if you have them
3. Asset List -- both tangible and intangible
4. Search Engine Rankings
5. Website Traffic Reports
6. Any Technical details
7. Financials (previous years and Current YTD financials)
8. Most recent completed year's Profit & Loss or Income Statement report and Balance Sheet -- if you have it
9. Sales Forecasts
10. Supporting documents for the Financials -- Tax, Bank, and/or Merchant Statements
The previous items will give all potential buyers a good idea what is for sale and probably a good idea if they are interested in pursuing the sale or not. However, that is usually just the beginning, so be prepared for many, many, many more questions.
Also, please keep in mind that your materials, presentation, and responses will be graded as part of the business in a way. Why? Because, how can your business be successful if you are unorganized, not well presented, and not able to respond quickly and concisely? This is what the buyer will be thinking. And in my experience, this is pretty accurate.
Step 3 - Market Your Website/Domain Name
There are various methods of putting your domain name up for sale. Decide whether you would like to sell your domain by owner or simplify the process and significantly increase your chances of receiving the best offer in the shortest amount of time by listing your domain name with a third party, such as http://www.ukwebsiteforsale.co.uk.
What if I Want to Market My Site On My Own?
There are 101 different ways to promote your domain name. One way we don't recommend is blanketing companies with unsolicited email. Writing mail to 200 banks asking if they want to buy FasterInternetBanking.com is not likely to win you many friends, nor make you any deals. Your time would be better employed using the methods listed below:
a) Update the domain name registration information
Many potential buyers will look at the information in the WHOIS database as a first step when investigating a name that they are considering buying. So make it perfectly clear that the name is for sale. Update the owner's name to include (This name is for sale) after your own name. Make sure all your contact information is current and accurate. Contact your domain name registrar to update your WHOIS listing.
b) Put a promotional website up
The other obvious way for a potential buyer to find out if a domain name is for sale is to visit the website. Don't disappoint them. If you don?t have an existing website, get some web space from a decent host provider and put a simple, one-page site up, showing that the name is for sale. Include a form or at least an email address so that interested parties can submit offers.
c) Get the Word Out
There are two different types of e-marketing strategies that may help increase your sales.
Direct Marketing: Identify and Address Your Audience. What types of businesses or individuals would be interested in your name? When you have identified your specific audience, you can take the next steps:
1. Visit newsgroups related to domain names and the nature of your name for sale. Post messages and begin discussions.
2. Subscribe to ezines related to the topic and find out where these people are on the web, and how you can contact them.
3. Once you have contacts, you can send out emails to potential customers.
Mass Marketing: Address Many. As opposed to direct marketing, mass marketing targets a large amount of people, hoping for a small response. Some ways to do this are:
4. Participate in domain forums, ask questions and seek out domain resellers or people who may be able to offer you more tips.
5. Use search engines. Although search engines differ in their methods of operation and website submission, you can often submit your site for no cost. To find out more information about different search engines and how they work, visit http://searchenginewatch.com/.
What are the Benefits to Registering My Site With a Third Party?
For a small fee, you can list your site with a reputable third party, such as http://www.ukwebsiteforsale.co.uk, and greatly enhance your site?s exposure to qualified buyers and ultimate profit potential. Among the many benefits you?ll receive by registering with ukwebsiteforsale.co.uk are:
* High visibility ? Reach 1000s of qualified buyers every month
* FREE 3-Month Featured Listing with purchase of professional appraisal
* Professionally written ads
* FREE email newsletter
* A professional appraisal to accurately determine your sites worth and increase your chances of selling ? ready in three to five business days
* The security of working with a trusted, experienced and highly recommended company
* The opportunity to connect with a recommended site broker, who will further simplify the process by handling payment, escrow, and domain and registrar transfer.
Step #4 - Make The Deal
You could get lucky, and receive an offer just days after listing your name. Typically, though, names are listed for months before any offers arrive. The key here is to be patient. Think about it - a party needs to come along who believes that the name is right, even essential, for their new Web site. The only other offers you will get will be from domain resellers, who will typically offer you 20-25% of a name's potential value. Unless you really need the money, turn down these offers, but note them anyway, as they are external confirmation that your name has resale value. Once you have agreed a deal with the buyer, then you will have to complete the deal. They send you payment, and you transfer the name to them. It's best to use an escrow service here. It protects both parties, but adds to the cost, so make sure you have agreed beforehand who will pay for it. Normally the buyer pays, but sometimes the cost is shared. Please note: to sell a domain name by owner, through a private transaction rather than a trusted third party, is risky business unless you completely trust the buyer.
There will be some wait time as money switches hands and the domain name ownership is transferred. Unless you are selling your domain to your mother or selling it for a very low price, we recommend using an escrow service to take care of the money transaction.
M. Avedissian - Owner of UKWebsiteForSale.co.uk Mr. Avedissian has owned and operated other online businesses. Manny is a graduate of Montcliar State University and holds other techical certifications.
Add to these social bookmarking sites:
Notice: Undefined index: TITLE in /var/www/vhosts/harmonyhollow.net/httpdocs/webmaster-resources/ecommerce/inc/rss.inc on line 103
Cheap Cigarettes, Discount Tobacco and Cigars Online - Is It Legal?
Many people online today still believe that buying tobacco products via the Internet is an experience that is doomed to failure. Either, the package will go astray, or the HM Customs and Excise storm troopers will smash down the door and abseil from the roof to collect the pennies that they are allegedly due for "tax evasion".
Is It Easy to Build An E-commerce Web Site?
--Online Commerce--E-Commerce website is all about selling products and services over the Internet. Amateurs may think that it is easy to build your own e-commerce system and our advice to you is to stay away from these amateurs.
Distinguishing Features of E-Commerce
E-commerce offers customers the chance to eliminate many stages in the sales/distribution chain. The mark-ups that occur between manufacturers, wholesalers, distributors, retailers and consumers can add the cost of goods purchased by consumers.
7 Questions to Ask A Potential Internet Merchant Account Provider
Recently I went looking for an online merchant account, with disastrous results. I made the mistake of taking information at face value and relying on the ecommerce merchant account provider's good reputation in other areas.
Government Buying and Selling on the Internet
Global Insight, a leading economic and financial forecasting company, (formerly DRI-WEFA), states that all levels of government (federal, state, and local) should see steady increases in the purchases of goods and services through the year 2009.Vendors willing to make the commitment to sell to government can reap the benefits of this projected government spending.
Ecommerce Solution for the Big and Small Business
First off, you need to know what an ecommerce solution is. An ecommerce solution can be defined in many ways.
Doing Business Online - Private B2B Exchanges
Business processes are the building blocks of an enterprise. If one of these processes fails to live up to its expectation, business starts to flounder.
Effective Management Of Your Customer Services
With a third party merchant account you will have a dedicated 24/7 support team to handle your credit card payment on your behalf as part of your package. You will also need to provide your own support for issues relating directly to your product.
Using Credit Cards Securely Online
Nowadays, shopping online is a very common thing. Making your purchases without leaving your house is an attractive option for many of us.
Direct Marketing isn't all Brute Force
There are so many metrics surrounding direct marketing. So many facts, figures, test results and other sundry measurements.
How To Turn Any Product You Sell In To Residual Income
The concept of this is for you to offer a subscription type product as an upsell or backend product. For example, if you're selling an ebook for $37 offer a subscription to a related e-zine for $9.
Keep Your Customers Happy by Organizing Your Payment Options
Anyone using a slow, or an awkward payment processor had better wake up!There are some very slick ways to transfer money around the globe, in todays, lightning fast world, both your customers and your suppliers demand payment in the click of a mouse.The processing companies have been fiercely competing with each other for years now, every so often, they revamp and recalibrate.
Choosing an Ecommerce Shopping Cart
Choosing an online shopping cart is a big decision. Unlike a traditional brick and mortar business, your website is your only chance to impress potential customers.
Six Components Of A Good E-Commerce Site
Businesses, which are still sitting on sidelines and not doing business on the Internet, should think seriously about their position! If you are one of them, chances are there, that you have to pay dearly for your indecision as you might lose significant market share to your more proactive competitors in a very short period of time.Apart from the fact that e-commerce is growing at the rate of more than 25 percent a year, the use of online features can bring efficiency to virtually every aspect of business process, be it supply chain management or customer support management.
Is Your Website Credit Card Friendly?
In my last column I discussed the process of credit card enabling your brick-and-mortar business. I pointed out that research has shown that accepting credit cards can help increase revenue and enhance cash flow.
Writing Web Pages: Get To The Meat Faster
Much of my consulting work comprises writing 'Outside Opinion' reports on the sites of large companies and organizations. Sometimes I review just a few pages, sometimes fifty or more.
The Webmasters Assistant
There are many tools available to a webmaster to analyse website traffic allowing them to monitor the number of visitors, see what pages have been accessed and even the length of time each visitors spends accessing the website.However, despite the considerable data available what is missing is anything to tell the webmaster what the visitor was thinking.
Shopping Carts and the E-Aisles
Have you ever gone to the store and thought you only needed a few things so you didn't grab a cart? The next thing you know your hands are full and groceries are crashing everywhere making a big mess. If only you had gotten a cart.
Beginner Ecommerce Mistakes
This is a short article because in the constraints of time and space preclude me from writing a 10 page article. Recently i built a ecommerce web site titled Cynscorion Products that sells knifes.
|Home | Site Map|