Many bloggers didn’t start their blog with the intentions of selling it one day. Bloggers usually start out wanting to share their thoughts, advice or passions with like-minded people in cyberspace.
Life happens and for some bloggers, there comes a point in time where the question about whether or not they should sell their successful blog comes up.
Depending on who you ask, some advisors could tell you it’s a great idea. Others will think it’s the worst idea ever.
Ultimately, the decision comes down to you and your own personal needs and wants at the time. There are a few great reasons people sell successful blogs but there are also some situations where it should probably be avoided.
You’re going to need to evaluate your own personal situation. Look at the options available to help you decide if now is the right time to sell the blog you’ve worked so hard to build.
In this article, there are some good reasons people are selling successful blogs and a few of the reasons that maybe do not make sense. Think about it carefully.
It’s Simply Time To Move On
The cash lump sum that you’re going to get from selling your successful blog can be incredibly enticing to people.
Depending on how successful the blog is, you can expect to receive anywhere from 12x to 24x the monthly net profits. Some buyers are willing to pay even more for higher-end blogs.
In general, blogs that are generating between $1,000 to $5,000 per month will be at the lower end of that spectrum. Blogs that are more stable and generating significantly more income will find themselves at the upper end of the spectrum.
Each investor is going to be different. The offers you’ll receive depend largely on how hands-off the business is, and how you have mitigated the risks, as far as competition, traffic sources, and income streams go.
Being able to generate 12-24 months worth of profits in one large lump sum will almost certainly allow you to move onto new projects. If you want a large lump sum of cash and have decided it’s time to move on, you could be in a prime situation for selling your successful blog.
You Need More Free Time
For other people, selling their blog may help them find the free time that they didn’t have while they were devoting so much time and energy into growing the blog.
Quite a few entrepreneurs have sold successful blogs and websites. This allowed them to reclaim all of the time that was lost during the building stages.
You may have decided that your blog is taking up too much of your time. You may be looking to do something new that will be more profitable or won’t take up nearly as much time. Selling the blog could be a viable option for you to hit your new goals.
It’s Not Your Passion Anymore
One of the most common reasons people think about selling a successful blog is that they’re simply no longer interested or excited by it.
When they started building the blog, they were passionate about the topic. However, as time went on, that passion started waning. They’ve begun to spend less and less time working on the blog or properly maintaining it. Before they know it, traffic numbers are down and revenue is down,
Be careful though, if this is happening then the blog is becoming worth less and less to potential buyers.
Rather than letting this happen to you, address the problem long before you get to the point where the blog’s value is dropping. Think about selling sooner rather than later.
3 Reasons To NOT Sell A Successful Blog
You’ll Lose Your Income Source
Selling your blog may give you a huge boost in immediate income. Ultimately you would be losing out on the recurring, relatively hands-free income stream that you’ve built.
You may get 1-2 years worth of profits put into your pocket up front, but if the blog is able to continue generating income for the next 5-10 years, the amount of money you’re going to be letting go can get staggering.
However, this is a catch 22. If you are planning on using the money from the sale of your blog to start a new project, the new project will have the base funding needed to get it back to the same spot your existing blog is at.
That means you have a higher potential for generating more revenue down the line. You won’t be bogged down in the day to day of your existing project.
A Non-Compete Will Be A Problem
Have you thought about what you’d like to do next? Maybe start another blog? Think carefully as a non-compete may well be featured in the sale contract. A non-compete is always designed to protect the buyer after you have sold the blog to them.
Details vary in each situation but often you’re signing a legal document that prevents you from getting into the same industry or niche. You would be competing directly with the buyer for a set period of time, usually a fairly long period of time.
In most cases, you won’t be able to start another blog in the same industry. It’s possible you won’t be able to have a blog at all. If that’s how you want to earn a living then this could raise a serious problem.
Think carefully about how this impacts you and your plans.
The Market Is Down
All markets go through ebbs and flows and that includes buying blogs and websites. If buyers aren’t willing to offer what the blog is actually worth, you may want to wait to sell until the market stabilizes again.
Buyers are looking to find deals that they can grow so they get a quicker return on the money they’ve spent. This doesn’t mean you should be taking a bad deal just to help them do it.
If you’ve decided that it’s time to sell your blog, figure out how much your blog is truly worth. There are eBay style websites such flippa.com and empireflippers.com where you can do some research or you can reach out and have a chat with an industry professional such as a business broker.
Ready For a Good Deal?
The decision to sell comes down to why you no longer want the blog, and what you intend to do with the profits. If you feel the reasons are good then you may be ready to move on. Take care, do your research and make sure you strike a deal that’s right for you and your future.
Author bio: Jock is a business broker, internet entrepreneur and occasional blogger.