Some of us do it with houses, some of us do it with cars, and some of us do it with websites. We buy those things, improve their appearance, add a few exciting new features, then we sell up for a few thousand pounds easy profit and maybe a great deal more. It's called 'flipping' and it represents one of the easiest, most profitable ventures of all, as this article shows.
'Flipping' is the term commonly applied to the exciting business of buying and selling domain names and developing new or existing websites.
Really spectacular profits can come from buying a domain name inexpensively in one location and reselling it for a profit elsewhere, such as by purchasing it from an inexperienced buyer on eBay and reselling it where more knowledgeable buyers congregate, in Internet marketing forums, for example, and companies mediating between domain name and website buyers and sellers, such as Godaddy (http://www.godaddy.com), Flippa (http://www.flippa.com) and Sedo (http://www.sedo.com).
Many full-time flippers buy sites inexpensively, with or without a domain name, and focus on growing value in a site, by adding content, for example, and monetising it with AdSense or ClickBank promotions and growing traffic from articles and blog postings, before finally offloading the whole caboodle to the highest bidder on one of those middleman sites just mentioned.
Website - also domain name - flipping is one of few businesses known to survive and even thrive in an economic downturn, mainly because flippers are targeting up-market buyers, people with money to spend and wanting to buy websites that are already receiving traffic and generating income. They pay those high prices to avoid having to develop websites themselves, or drive traffic, or identify profitable niches.
Those big price buyers also like the risk-free element of buying an already profitable site, as opposed to paying website designers to create sites for them and having to wait months to see if their new site is profitable or a total flop. So they'll spend heavily on a site that's already making money, sometimes spending many hundreds of thousands of dollars/pounds/whatever currency for a site and domain name that probably cost very little to obtain in the first place.
A lot of money can be made in very short time, even by people without web design experience and having little or no technical ability, and tales are told of new and experienced flippers buying existing sites for a few hundred dollars (most sales take place on American sites) and offloading them days or weeks later for ten or twenty times more.