Should You Consider Selling Your Successful Blog?
Many bloggers read this question and react harshly, responding by saying, “Why on Earth would I ever want to sell my blog?! It’s like my baby!” It’s true, bloggers do have a special relationship with their blogs since they take so much time to cultivate and require lots of tender loving care.
But just because the process to get to where you are now was long and full of hard work, it does not mean you need to deny yourself the chance to sell your blog, cash in on this hard work and then focus on other things. For some bloggers, selling is actually the best thing they could do, but they just haven’t given it enough thought yet.
So, let’s go through this little thought experiment, examining all different angles so that you can decide if the time has actually come to sell your blog and start a new chapter of your life.
Some questions to ask:
Every blogger, whether they are seriously considering selling their blog or not, should ask themselves the following questions to try and get an idea as to whether or not selling is the right move.
What’s the time commitment?
The first thing you should figure out is how much time you actually spend blogging. As we all know, hours can easily melt away in front of our computer screens answering emails from readers, writing up new content or tweaking design. Spend a moment to figure out how many hours a week you are really dedicating to your site.
This will help clarify a few things. Perhaps you consider the blog a side hustle, but you’re actually spending nearly 20-30 hours a week on it. Considering you have other responsibilities in your life, that’s a lot. Or, on the other hand, perhaps you’re really only spending five hours and it’s not taking much away from the rest of your life.
It’s relative to what else you have going on, but try to get a clear idea as to how much you are pouring into your blog. Then, ask yourself if it’s worth it, bringing us to the next question.
What’s the reward?
If you’re spending 25 hours a week on your blog and loving it or making a nice chunk of change doing it, then maybe selling it isn’t the best idea. It might be a nice complement to whatever else you are doing, offering you are rewarding and exciting side hustle.
However, if you find yourself working on it more because you feel obligated, then it might be time to think about moving on. Part of what makes a blogger successful is that people believe and trust what they have to say, and also because bloggers motivate with their passion. If yours is gone, that will soon show through to your readers, causing them to disconnect. And if this happens, you’ll find the value of your site plummet, making your site worth almost nothing when you do decide to sell.
What else is on your plate?
This applies to both now and in the future. If you’re juggling another job, a family and other obligations, it is likely hard to find time for the blog. It’s much better to sell it now while it’s still hot then let it sit and lose value. You can always start back up again using the windfall from the sale to help you skip a lot of the menial work you had to do to build up your first blog.
You’ll also want to look towards the future. Most bloggers are entrepreneurs at heart, and they always have at least one or two other projects waiting in the wings. However, as you likely already know, it’s basically impossible to focus on more than one major thing at once and do it well. So, if there are other projects you’d like to work on but just don’t have the time for them, then sell the blog and move on.
How to sell your blog or websites
Hopefully, asking and answering these questions has helped you figure out whether or not selling your blog is the right move. For those of you who are in fact considering it, know that selling a blog is not a thing to be taken lightly. Your blog is valuable, and you need to do all you can to make sure the offers you receive reflect that value. Here are some tips to help you get the process started:
Determine the site’s value
The first thing you want to do is to get an idea of what your site is worth. The general rule is that a site is worth 2.5 times its yearly revenue, but this is really just a jumping off point. A lot will go into the site’s value, such as growth prospects, potential risks, business processes, etc.
The best thing you can do is get a valuation. This means an expert will come in and analyze your website and tell you what they think it will sell for, giving you a number to aim for when you put the blog on the market.
Get records in order
Another thing you’ll need to do, and you’ll want to do it simultaneously, gather all necessary documentation and put your records in order. Tax returns, revenue, and expense reports, contracts, domain name certificates, etc. will all be needed when you go to make the sale. Get them in order first thing so that you can show them to a prospective buyer and prove you are serious and are approaching the sale in a professional way.
Choose a sale method
One of the last things you’ll want to decide is how you’re going to go about selling the blog. There are primarily two methods: selling on your own or selling through a broker.
Selling on your own saves you some commissions, but it can be hard to find a serious buyer. You can use platforms such as “Flippa,” but this is an auction site, and people are often not willing to offer true value. This method is best if you already have someone in mind, perhaps a friend, fellow blogger or even competitor, who is willing to buy the site.
If this is not the case, it’s probably best to go through a broker. They will help you with the valuation process, and then they will use their network and marketing presence to get your blog in front of serious, prospective buyers. It may take a little longer, but you’ll get better offers and will be happier in the end.
Selling your blog is not the end of the world. It doesn’t mean you’ve failed or that you are giving up. In fact, most often it means the opposite. It means you’ve built something that has real value and are now prepared to reap the benefits of that hard work and put them to use on your next project. Take your time to think through the questions posed today, and if you decide to sell, go forward confidently.