Liz and Matt Raad reveals the reasons they love buying websites for profit, the benefits that it brings, and why you should do the same.
Liz: Hi, it’s Liz and Matt, and today’s question that we want to answer is ‘why should I buy websites?’
Matt: It’s that awesome!
Liz: Aside from being awesome, there are a few very important reasons why we buy websites.
If you think about it, when you buy a house that’s already built, you can see what you’re getting, it’s already there, everything’s laid out, it’s in the physical world, it’s already proven. So if the house is already being rented out, you can see how much money it’s earning, and you can also see what needs improving.
It’s much easier to do some renovations than it is to start from scratch and to design or build the whole house. It’s a similar kind of logic for websites.
Four Main Benefits
Matt: And there’s some really fantastic business reasons. Because our background is bricks and mortar business, we compared the two and what we found is that for websites, we’re not holding stocks, we don’t have to invest a lot of money, staff, or time because we can outsource a lot of the tasks that we do on our websites at a very low cost.
Liz:There’s four really cool benefits of buying websites.
#1. Low Entry Price Point
First, it’s such a low cost to get in the game. You can buy your website for a few dollars, a couple of hundred dollars, or a thousand dollars. You don’t have to have heaps of money to get in the game.
Matt: And it’s good if you’re a beginner because you can start learning without having to invest masses of money.
#2. Low Ongoing Costs
Liz: Number two, websites are generally cheap to maintain. So we got maybe $10 or $15 dollars a month in hosting costs and maybe $20 or $30 dollars in getting a bit of content on there and doing some general maintenance.
So it’s not a huge amount to invest each month in order to maintain websites when you pick the right ones.
#3. Growth Potential
Matt: And the third reason that we love is that the growth potential of a website is just fantastic. Once you know what you’re doing, you can leverage these businesses very quickly and easily.
Liz:You got a worldwide marketplace! So if you got a website, you have access to billions of people around the world!
#4. Potential Payoff
Matt: That leads us to the fourth point. If you can grow the business quickly, the potential payoff of the website is huge because we can sell them for a great multiple down the track somewhere.
Liz: Yeah, and we’re seeing that on the market all the time. We’re seeing so many billion-dollar companies at the moment that are being created online. So we’ve got a massive potential for that growth and also valuation.