Targeting A Low Competition Niche And Increasing Your Profit
We have talked about this in another article, saying that purchasing a site with a specific theme already in place can be dangerous. That is completely true, but if you are willing to take the risk you will certainly have a lot to gain.
First of all, niches in any kind of market are profitable, but very risky. Basically, the potential profit increases with the risk and that is why you, again, have to balance things out. Don’t look for a very rare type of site because you will have a lot of trouble finding a buyer. Although the site is worth a lot because there are only so few sites in that respective niche, you can’t sell it because you can’t find a buyer, and that means that you are not getting your money. For the first couple of niche sites make sure that you target niches that are still getting a decent number of people interested.
You should also research a respective niche and see if it has the potential of growing in the next couple of months. In this situation it is probably best to start creating a site from scratch, paying for the hosting services and domain name and selling it when you know that the market has started to grow a lot for that respective type of site. This is a strategy that, again, is very risky, because you can’t know for certain if the market will grow and when, but if it does grow you will certainly profit greatly from it.
As you can see, website flipping is not only about improving sites, it is also about predicting the future in a certain market. Basically, you are more of an investor than a website designer because in order to make a lot of money you have to be able to speculate on these growing markets. That kind of ability will make you a very successful website flipper.
In the end I have to say that taking risks is part of the business and you should be able to judge if the risks are worth the profit. This balancing act should one of your main skills in a year or so, otherwise you will be stranded making a couple of hundred dollars per site, which is not enough whichever way you cut it. Risking is the way to go, and the way to make more money.
Filed under: Internet Marketing
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