This article will help:

1. Business owners understand the benefits of purchasing an established website
2. Signs to identify bad investments in ready-made websites (or web businesses)
3. Where to buy an established website or web business

Why would I want to buy an existing website rather than just build my own?
Some business owners might prefer to start from scratch and build a new website by hiring a web design company or freelance web designer. However, there can be a few draw backs to building a website from scratch. One is cost. Depending on the type of website that you want to build and the quality of coding and design, it can turn into a relatively costly process. Granted the cost of building a website will vary between companies, quality, timeframe, experience of the designer, and reputation. In many cases, a lower cost website may not be better for your small business–as a website can be one of the most important marketing devices a small business owns and uses. Another downside of creating a brand new website is timing.  It can take quite a bit of time to build a quality website. For example, it took one of our members about three weeks to build a static website, because they decided to purchase extra time to refine their design (look and feel) and get the messaging right. Most web design companies will charge for extra rounds of revisions during the design process.

Purchasing a ready made website can be a quick way to enter the market.
Purchasing a ready-made website or web business can allow you to speed up the process of “going to market.” Granted, you may need to clean up a few things or add new content to the purchased website. Also, you will need to ensure that the website that you are purchasing is quality. (See below for quality assurance testing of ready made websites).  In many cases, when you purchase a website, you will have a chance to view the design of the site, wade through the site content and get some facts about it. In this way, you will know what you are buying and can select a site or web business that will give you a head start. Many companies struggle with starting a new website because writing content can take a lot of time–and content production can cause web projects to miss their deadlines. The editing process can be tough, at times. Also, some websites that are for sale may already have traffic, search engine prominence or even revenue… which will give you a leg up from other start-ups.

What are some common signs that a website is poor quality or a bad investment?

• Double check to see if the website is committing gross copyright violations
• Too many links? Make sure the website isn’t over linking, which can cause penalties in Google and other search engines.
• Make sure the site has quality content!
• Click through the site and look for broken pages, elements and links
• Make sure the website accurately reflects the market you wish to enter

Background checks and quality assurance for purchasing a website
Hiring a web strategy company can help you identify whether a website is quality by doing an SEO and website audit before finalizing the purchase. Spending a few hundred dollars to hire a web strategy company can save you a lot of time and money down the road.

What are some factors that may demonstrate high quality within a for sale website?

• Content, content, content: Good content goes a long way!
• Page ranking: Google uses a ranking system to measure the strength of a page within search engines. You may not need a ready high page rank, but it certainly can help.
• Good design: clear and interesting (or just simple) design can really make or break a website. Bad design can certainly contribute to a website’s failure.

Where can I purchase a ready made website?

• eBay: search for “websites for sale”
• flippa.com – an online marketplace for buying and selling websites
• marketplace.sitepoint.com/ — a marketplace for established websites and existing web businesses.

How do I sign up?
Visit the Creative Cities newsletter form for more information and sign up details: http://creativecitieslexington.us1.list-manage.com

Protect your family’s personal assets

Tax advantages
An incorporated business can reduce the amount of tax owed to the IRS by deducting any costs that are related to the business. Depending on your type of business, there are numerous tax benefits for home business owners. Besides equipment like books and computers, you can also deduct salaries, bonuses, and medical and retirement payments paid to employees.

Establish credibility
A formal business structure provides your business with a sense of legitimacy in the eyes of your customers, vendors, and banks.

Raise money by selling stock
Should your business need more capital, you can issue shares of stock to investors from an incorporated business. Capital can be raised by selling stock whether your business is a startup or is a well established company that is seeking to expand.

A trend for advertising to move online

It costs thousands of dollars for a business to advertise offline whether you place advertisements in local Newspapers, Magazines or mailing marketing materials to your customers.  Many small business owners in Kentucky have focused more attention to advertising on the Internet because they realize they can save thousands of dollars on advertising cost.

On the Internet there are many ways to advertise your business from $0 to $500+.  You can actually advertise your website for free on sites like Craigslist and article marketing on sites like EzineArticles.com.  You can even advertise your website for a sponsorship fee on high-ranking websites like ABCNews.com or social media sites like Facebook.

24/7 showcase of your products/services

Imagine being able to showcase your products and services 24 hours per day and 7 days per week? That’s one of the primary benefits of having a website. Depending upon the type of business you’re in, your customers can make purchases through your website while you sleep. For instance, if you own an online auto parts store or clothing store, your customers can purchase your products through your website at anytime of the day without having to call or wait until normal business hours.

More people are researching purchases/services online before buying

People are using the Internet to research before they buy a product or service. This is why it is so important to have a strong online presence so that your customers can actually find you on the Internet.  For example, a person searching for a good accountant in Kentucky is more likely to search on websites that offer a lot of valuable information about their accounting services. The consumer is more likely to choose the company with the best web presence.

For some a website is a primary selling tool

There are many companies that use their website as their primary selling tool.  There are a couple of factors that are important to possess when it comes to selling effectively on the Internet. First, you must have a well designed website that is “clutter-free”. In other words, keep it simple.

Avoid having a website that has too many ads. When a visitor enters your site, they are searching for only one thing and that is “what’s in it for me”. You will lose potential customers if your website screams “Buy Me Now!”

To truly gain your customer’s attention, you of course want to have a great product or service to offer your customers but you will want to also make sure that you’re offering a good amount of quality content about how your product or service will benefit them.  This may include offering articles on your website, a blog or a video clip about your company.

Static website vs. CMS editable website

The difference between a static website and a CMS editable website is simple. A CMS editable website shows different text or content during your customer’s interaction. This type of website is complex and recommended for those who are constantly updating their website with fresh content on a daily, weekly or monthly basis.

A static website is good if you’re not planning on updating your content on a regular basis. You can actually use Microsoft Word to update and edit your website on an as needed basis.

How Much Does a Website Cost?

It all depends on the kind of website you need for your business. Prices vary and can start as low as $500 to $20,000+.  The important thing is to find a reputable web designer or web development firm to build your website. You will also want to work with a company that will build a site that is search engine friendly.

There are basically four types of websites:

Corporate Brochure Style Website

This is type of website offers your visitors basic information about your products and services. Think of it as an online advertisement. Prices start at around $500 or more.

E-Commerce Website

This type of website can vary from simple to complex. An ecommerce website normally starts off at around $5,000 or more.  This type of website is perfect for an online retail store where customers have access to purchase your products.

Where can I set up an account to begin Pay Per Click ads for my business?

The most popular pay per click advertising venues would be the top search engines. Google is by far the most popular and success advertising venue for this model. But we will list a few of the best sources below:

Google AdWords

Yahoo Search Marketing

Microsoft Adcenter

Ask Sponsored Listings

What do pay per click ads look like?

Pay per click ads can vary in the way that they look from advertiser to advertiser. Placement options also vary between advertisers. Each advertiser will establish their own rules that govern the ways ads can look, what you the buyer can say, and where the ad can be placed. Google Adwords has perhaps the most rigid control over language, and for this reason users have responded due to the clarity and quality of the ads matching the service or term that they are seeking. Below is a screen view of the two primary placement options for paying advertisers (marked in green outlines).

Can I Manage A Pay Per Click Campaign Without Professional Help?

This is a yes and no answer, but I will give you reasons for each.
Yes:
Google AdWords for example was set up so that business owners could easily create an account and begin an ad campaign in a very short amount of time. In about 30 minutes you would be able to read some of the instructions and set up an account to initiate your paid advertising campaign. Google has built in tools to help with your transition into pay per click marketing, such as keyword finder tools and popular keywords. If you have a good understanding of your business and perhaps a Google Web Analytics account ( or traffic analyzer) installed, you will be able to make a basically informed decision as to choosing keywords and preferences.
No:
Even though Google has made it easy to create an account and set up and track your ad campaign, simply reading instructions and having a clear understanding of your business does not mean that you will get results from your pay per click campaign. Often times businesses will set up a campaign only to see their daily budgets used up and their visitors spend next to no time on their website. In addition, sometimes businesses will go months and see few results from their paid ads (except for the clicks to their site). Professionals can build more successful campaigns because of their depth of online marketing, user behavior, SEO and Landing Page Optimization understanding and marketing insight and experience. The reason for hiring professionals is because they can target the right users, under the right keywords, at the right time, with the right tools and can help you gear your marketing program to yield better results. Note:
Please keep in mind, this does not mean that laymen or business owners (non-professionals) can’t run successful campaigns. They can…it just takes work, study, research, and practice.

Learn about how to measure traffic to your website or web promotional: Website analytics and traffic

When you begin writing your business plan, start by defining your current and past business operation. You will then need to describe your goals for your company’s future and explain fully how a financial investment in your company will enhance your goals and reward potential investors. Be very clear about defining your goals for the future and stressing them above all else.
Step One:

Start with a numbered Table of Contents. You will need to name and number each section of your business plan for clarity and ease of use.
Step Two:

You will need an Executive Summary, comprised of 1-2 pages focusing on your business plan’s primary points of interest. Include descriptions of your management team’s structure and process, marketing techniques, business alliances, market size, profit potential, also be sure to include the dollar amount you are requested and outline your re-payment plan. You may actually decide to write this section last, after all the variables have been defined.
Step Three:

You will need a detailed Business Description that includes your mission statement, a thorough explanation of your company, your business’ philosophy or management model, as well as your primary goals and desired achievements.

Include in your business description a concise overview of the field you are operating in, as well as your services, products, and strengths that are unique in your field to your company. Be sure to include the specifics of the company’s legal form of ownership.
Step Four:

Next you should furnish a more in-depth list of Products / Services that your business offers. This expanded description should include your pricing structure and marketing scheme.
Step Five:

Outline your Marketing Strategy. Describe how your business’ marketing plan will work to capture market share. Give specific details about your public relations strategy.

It is important to include an analysis of Marketing Data. Identify your Target Audience, their demographic and specific information about your target market. Next, identify and define the industry you are operating in. Be specific about market growth, size, trends, and other related details. You also want to include a review of your competitors and the positive and negative ways they are managing their marketing campaigns.
Step Six:

It is important to have a clear explanation of your day-to-day and long term Business Operations. Include details about your company’s location, staff, machinery/equipment, legal considerations, operational expenditures, and the processes used to carry out daily operation. Also add information about operation practices unique to your business.
Step Seven:

A Management Outline is a vital feature in a well-crafted business plan. Explain the experience and strengths of your staff members, include job descriptions, and an delineate of your management processes.

Explain who has the management responsibilities. Even attach key employees’ resumes as supporting materials. All primary employees should have their jobs clearly described. An outline of other important advisors to your business should be included with this portion of the report.
Step Eight:

Devise a clear Financial Plan. You will want to state Financial Projections of up to three years into the future. In order to deliver a clear financial plan, you will need to describe your overall income statement. Include details about your cash flow, break even analysis, forms of funding, balance sheet, spreadsheets, and requests for future funds.
Step Nine:

Close your report with an Appendix. In addition, you will need contracts, supporting documents, letters of intent, research, and any pertinent related information.