You put a lot of time, effort, and money into building a successful online business. However, there may come a time when you’re no longer as passionate about it as you once were and want to explore new opportunities.
Sometimes, selling your site makes more sense than keeping it. Even if you don’t have immediate plans to do so, determining your online property’s value can present opportunities for assessing competition, measuring growth and potential, and identifying ways to make it more profitable.
In this post, we’ll discuss some of the reasons you might consider selling your website. Then we’ll provide you with three helpful tips for assessing how much it’s worth. Let’s get started!
Why would you want to sell your website?
In most cases, making the decision to sell a website isn’t an easy one. However, there are a multitude of situations where doing so is beneficial.
One of the most common reasons is that your online business is no longer making a profit. Perhaps you feel you’ve reached a cap as far as where you can take it. Selling it to a buyer with skills and resources for continued growth makes sense.
If you’re putting more time and money into your site than you believe it’s worth, it can place a burden on both your finances and your motivation. It’s normal for business owners and entrepreneurs to outgrow projects.
Selling your website can present a viable exit strategy that puts extra cash in your pocket. It also frees you up to explore and focus on other opportunities that better align with your current lifestyle and professional goals.
If you make the decision to sell your website, there are two main options for going about it. You can sell it yourself through a website marketplace such as Flippa:
Typically, with website marketplaces, you pay a listing fee depending on the duration of the posting. You can sell your complete website or just the domain name.
Another option, which is recommended for complex websites with high valuations, is to go through a broker such as those at Digital Exits. In either event, it helps to first assess your site to determine its worth.
What determines the value of a website?
Unfortunately, the amount of time or money you put into your website isn’t what determines its value. It’s not uncommon for site owners to overestimate what their website is worth.
Getting an accurate picture of your site’s value early on generates more realistic expectations. You’ll then be better positioned to sell it at maximum value.
There are a wide variety of factors that influence the worth of a website. Rather than the investments you made in building and maintaining it, the returns your site generates are the driving consideration in this scenario.
Some common factors that impact the value of a website include:
- Sales and yearly profits
- Growth trends and opportunities
- Size and scalability
- Revenue streams
- Traffic sources
This article was written by Will Morris and originally published on ManageWP.