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Buying An Established Website vs Building Your Own

Last week I decided to sell my niche websites (to allow me to focus more) and I got many emails asking about the advantages and disadvantages of buying an established website over building your own.

First, let me ask you a question… Why did you start Internet Marketing?

Because I don't have your answer yet, (please leave it below)… I”ll tell you why I got into Internet Marketing.

I hated my job! I was self-employed at the time, but I was trading time for dollars as an Electrician, and my income was capped by the hours I could work.

Internet Marketing was the perfect solution for me… I would do the work once and get paid over and over again for the same work. AND… the process can be automated. So, most of the sales happen while I'm asleep… NICE!

BUT… And I think this is what many people forget. The money ONLY comes in when the website, product, sales page and payment processing are live online, look good and convert well AND you are attracting targeted visitors to the website who enter their credit card details and click the buy button

…Without ANY of those items you WILL NOT make any money!

So it makes sense to get the website, product, sales page and payment processing into place as quickly as possible, so that you can focus on the targeted traffic generation using something like the Traffic Dashboard.

Every hour, day, or month that goes past without you having a product for sale is a missed opportunity. You are losing money by not having something out there.

However, if you don't know how to build a website, product, sales page and set up payment processing, then it makes sense to go and buy one that is already set up, rather than taking months to learn the ropes.

The technical side of Internet Marketing can be tricky (unless you have a coach). Learning how to set up a WordPress blog, or how to install an Aweber optin form, or how to create a download page or affiliate page can be overwhelming and take a long time if you are doing this part-time and learning from ebooks.

The cases of people making more than $50,000 in their first year of being online are minimal. The norm seems to be, to struggle for 5 to 7 years jumping from niche to niche and strategy to strategy, and if you haven't given up, you'll make some money then. Sad, but true!

I revealed my strategy of how I made over $300,000 in 23 months with a simple model train membership site when Yaro Starak interviewed me. The tipping point in that business was when affiliates came on board and promoted my product for me. It completely eliminated the need for me to get any traffic, and all I had to do everyday was answer the support emails, if there were any.

It was amazing… I had done the work and I could sit back and watch the sales increasing from day to day.

But how much should you pay for an established website?

As an example, let's look at one of my websites that I'm selling:

The website is thecoincollectingclub.com

My intention with this website was to use the ebook as the front end product, with the back end product being a monthly membership site for coin collectors.

That's why the domain is thecoincollectingclub.

Coin collecting is considered by many as a great investment, so I wanted the best resource for collectors around the world to mingle, trade coins and help beginners.

This was exactly what I did with the model train membership and the average $/sale got as high as $125.

This particular website comes with a blog, a sales page, an ebook and a download page. It made just over 20 sales about 18 months ago and made about $25 in Adsense revenue in the last 12 months.

If you ignore any past sales and traffic stats and just look at the website construction, these are the basic costs:

  • Articles on the website ($50),
  • Graphics ($60),
  • eBook creation ($350),
  • Sales page ($300),
  • Download page ($100),
  • Plus your time (about 40hrs)

It would cost about $960 to set up from scratch, and that's if you know how to set up hosting, point the DNS and use fantastico to set up WordPress. It's amazing how quickly the numbers add up. So, you would think that paying $1,000 for a complete done for you website like thecoincollectingclub.com would be an absolute bargain…

BTW I am open to offers and not looking for anything near $1,000, I was just making a point. Contact me here.

Internet Marketing Is A Business

A businesses requires resources – time, money and people.

You can spend some money and have a website and product to promote in the next week.

Or, you can spend your time figuring it all out and make no money in that time

The choice is yours.

Please comment below… I would love to know why you got into Internet Marketing.

 

About the Author Ian McConnell

Ian is a successful offline and online entrepreneur with over 20 years of marketing and business experience. He is very passionate about living a life with time, income and location freedom. Find out more about Ian McConnell >>

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