Blogging is a great way to pass the time and make some extra cash on the side. However, what happens when you’re finished with your blog and want to move on? Fortunately, just like with any business, you can sell your blog and make a serious profit. However, before you start searching for a buyer, you need to fine-tune your blog with the “write for us digital marketing” and decide on a price. Below, we’ll tell you everything you need to know about a quick guide for successfully selling your blog.
There’s no point in trying to sell a blog when it doesn’t know what it is. By this, we mean that your website has no real purpose and doesn’t offer value to readers, which can happen unintentionally by trying to cover too many topics.
Your first task is to go through your blog and niche down. This means narrowing down your expertise and creating quality content to answer search intent. For example, if your blog is about restaurants, try and decide on a target audience and angle – perhaps you’re helping managers open a new restaurant.
You can check out the tips to increase reach and traffic to your blog with simple guides.
Choose a Price
After you’ve finished tuning your blog, you need to be setting a reasonable price. This can be a difficult process because you don’t want to make too little, but asking for too much will put buyers off.
To work out your pricing answers, you will need to take part in a little mathematics. Take a look at your blog’s revenue over the last 6 months, and work out your average earnings for months – let’s take $1000 as an example.
Once you have this information, you need to multiply it by 12 to work out what your starting price will be. Making this much will help you cover the revenue loss from the blog, which gives you time to find alternative streams. However, if your website is well designed and fills a gap in the market, you can likely charge much more than your starting price.
Once you’ve sold your website, you will likely need to pay tax on the income. Fortunately, this type of revenue may be classified as capital gains, which is a win-win for you. This means that you only need to pay tax on the price after any development costs have been subtracted. To make sure you’re making the most out of your sale, we recommend hiring a professional accountant.
Enter Into Contracts
Before a buyer commits, they will likely ask to see a contract, which should detail everything that you’re selling. Here are a few parts of your blog to sell:
- Domain name only. Selling and buying domain names is a career for some people anyway – perhaps this is your next adventure.
- The entire blog. This will include the domain name, branding, reader databases, logo, personalized code, social media, and much more.
- Somewhere in between. You can scale the sale to suit your needs. For example, you could sell the actual blog but keep the rights to the socials.
No matter how much or little you decide to sell, you must create a clear contract. This can be confusing, especially considering the ambiguity of words in the English language. In the contract, you will provide information on how the transfer will be done, including the release of funds. If you’re struggling to create a contract, we suggest finding a reputable website broker.
Selling a blog is much like any other product or business – you need to ensure quality, decide on a price, create a few terms and conditions, and wait for the buyers to come in. To strengthen your sale and increase profits, you should get your website updated and ensure it’s fully functional.