How to make money on Flippa
There are many ways to make money online, one of them is buying and selling websites, apps or domains online. When it comes to buying and selling websites, there are platforms that helps you achieve this, one of the leading places you can buy and sell websites online is Flippa. In this article, we will look at the many ways you can make money on Flippa.
Flippa is a platform that connects website sellers and buyers in one place. You can also buy and sell domains or apps on Flippa. It offers access to millions of sellers and buyers. And it is offers security for transactions on its platform. With all these comes a big potential to make money. It is one of the coolest ways to make money if you know how to use it and we will show you. Keep reading.
Before you can make money on Flippa, you have to be registered. So first step will involve going to Flippa to sign up. Click here to go to Flippa
Once you have open your Flippa account, you are now ready to get started. So we will jump straight to how to make money on Flippa.
1. Buy a quality online business
This one is for people who are looking to start their own online business but have no idea what to do and where to start from. The answer is Flippa. On Flippa, you can find online businesses, buy and set up your own online company. By now you should know that online entrepreneurship is making people not just millionaires but billionaires. Almost everyone is online and that is why you should consider having an online business.
There are people who have developed online businesses that are already making big income and for some reasons are putting them up for sale on Flippa. You can also find new online business ideas that has been developed without making income yet but with massive potentials. It all depends on your budget and what you want.
The first step is to decide what type of business you want. There are many ideas to choose from. You will find eCommerce stores, blogs, marketing tools, Search engines, Apps, Design blogs, news websites, niche websites, forums, social networks and many businesses listed.
The choice is down to you, do your research and decide what business will be right for you.
Once you have made your decision, login to Flippa and search for it. You will find a search button on top of the page, type the kind of business you want and search.
You will immediately see options that fits into what you are looking for. The next step for you will be to use the filter on the left side of the screen to help you select the appropriate business for you. There are many things to filter. You can decide to look for businesses older than a year or two or more. You can filter businesses by how much it generates and so on.
You can click on each business you see more. Once you click, you will be able to see how much the business has generated in the past year, how much is the expenses and profit. You will also see the work required to keep business running and all that. You can message seller to get more details.
Here is our advice:
- Look for business older than a year
- Business with consistent profit margin
- Don’t pay more than 20 times annual earnings of business to buy it unless you are very certain.
- Do your due diligence. Request all finance report and be sure it will be profitable for you
Once you have decided to buy. You can either place a bid or use the buy it now. The bidding process is tough if business is viral, you have to be up to ensure you are not out bid. The buy it now price is usually high but gives you instant access. You can also negotiate with buyer for a price.
We recommend using Escrow or Flippa escrow for payment. That way the transactions will be fully secured. You will pay money into the escrow. The seller release business to you. You take possession and tell Escrow to release money to seller once you confirmed all is alright.
2. Build and sell websites or apps
This involves building a website or app from scratch then selling it on Flippa. The advantage of this is that it wont cost you much money but may cost you time. The good thing is even if you do not know how to build website, you can find someone on fiverr to do it for you from $5.
You can decide to build websites or apps and sell them right away. There are some websites and apps that people will be interested in paying good money for even if it is brand new without making profit. As long as the idea is mind blowing.
Alternatively, you can build websites or apps, run it for some months, grow it, generates income, then sell it on Flippa.
The most important thing here will be ideas. You will need good ideas for websites that you know people will buy and target the websites towards a particular niche or country.
If you do not know how to develop websites, that is no problem. Just have an idea. You can go on Fiverr and find someone to develop your website ideas for you from $5 and you sell it on Flippa for a good money.
Once you are ready to sell, just got o Flippa, login and click on start selling. Choose what you want to sell, set your price and verify ownership. That is all.
3. Flipping
This is the most talked about way of making money on Flippa. This involves buying websites, apps or domains on Flippa and reselling it on Flippa without much delay. A lot of people do this as full time job and they make good money flipping on Flippa.
It is very easy and straightforward. You go on Flippa, look for websites, domains or apps with very big potentials but with a low ‘buy it now’ or low bids. Buy it. You can then hold on to it for a week then resell it for bigger money or you grow it for a little time then sell it for huge profit.
You will have to be on Flippa as much as you can, watch out for bargain buys, pick them up and resell for their true worth.
4. Sell expired domains
Selling domains on Flippa is somehow hard because buyers mostly look for a simple and short domain name or a domain name with long page authourity. So how do you work your way around this? Go to websites that list expired domains. For example go to ExpiredDomains, use the filter and search for premium looking domain.
Once you find a domain name, hurry to Namecheap and register domain name for cheap then go to Flippa and sell it.
5. Sell your blog
If you run a blog that you barely have time for anymore but have good number of visitors and potentials. You can list it for sell on Flippa. You will find buyers
Conclusion: Flippa is a very good platform that empowers you to make money. I have made over $14, 000 thanks to Flippa. I made this money selling two websites and selling a percentage of another website. If you feel good about this then try it. People make thousands of dollars monthly.
If you are looking at other ways of making money online, then read our guide: How to make money online or read through the many ideas on our website.
If you have any questions or contribution, leave them on the comments
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