Did someone offer to buy your blog?
Getting an offer on your blog probably came as a surprise – especially if you weren’t contemplating selling it. Blogs sell like startups in the current market – they’re a hot commodity as a marketing and branding channel, and larger companies sweep in to buy smaller blogs on a frequent basis.
If you’re sitting there staring at an email with an offer and you aren’t sure how to respond, there are a few things you’ll want to consider before you start working on the first draft of your response email.
5 Things To Consider Before You Say Yes!
1. Are You Actually Done With Your Blog?
Successful bloggers are passionate about what they do because it takes a lot of their time and energy. It’s a huge part of their identity, especially since many of these blogs often contain true stories and experiences. Sometimes, selling your blog can feel like selling a part of yourself.
If your blog isn’t personal in nature or you already work with a large number of contributors or guest writers, it might be a little easier to let go. It will feel more like selling your old car to expand your budget for a new one. If that’s what you want to do, have at it. Just note that seller’s remorse is real, and if your blog is an important part of your life, it may be emotionally difficult to live without it.
2. Is The Value of Your Blog Steadily Increasing?
If your blog is monetized through ads, sponsored posts, affiliate marketing, or product sales, look at the trends in your revenue. If it’s been steadily going up and the increment is noteworthy, selling your blog today just means you’ll be making less money tomorrow. It may be more financially feasible to keep your blog if its profits are continuing to grow. You can always sell later when your revenue stream reaches a point where it’s undeniably enviable.
If your blog isn’t bringing in a lot of money or the money you generate is less predictable, it might be worthwhile to sell it. The person who made an offer probably has an idea to maximize and improve revenue. If you can’t do that on your own, you’ll save a lot of time and money by accepting a buyout.
3. Is The Offer You’ve Received Fair?
If your blog makes money, it’s a business. The only way to know for sure if you’ve received a fair offer is to look at similar businesses for sale and see what they’re asking for. What they ask and what they get might be two totally different things. This is because people tend to put an emotional price (based on what their business means to them and the time and effort they’ve put into it) on their hard work.
Buyer’s don’t care about that – they’re looking at revenue and potential. Make sure you’re considering the sum actually fetched – especially if it’s far from the asking price.
You can always negotiate for a slightly better offer if you believe you can get it, but don’t forget that buyers are purchasing blogs as moneymaking ventures. They can understand the sentimental and personal value of a blog, but that doesn’t mean they’re willing to pay as much as you’d like them to.
4. Will The Decision You Make Reflect Negatively On You In The Future?
If your blog has your name all over it, you might want to be careful who you sell it to. If your branding is personalized and highly specific, reflecting you as an individual, selling to someone with different ideas can affect your credibility. If you intend to start another venture in the future and your blog readers become inundated by ads and junk after you’ve left the blog, your personal brand will undoubtedly suffer. Make sure you know exactly what the buyer intends to do with the blog.
5. Do You Want to Maintain Your Presence On Your Blog?
Some sale offers will come with the option for you to remain a part of the blog. They like your writing and your plan – they just want to become your boss. If you’re still looking to keep your blog in your life, see if you can be retained through the sale. You’ll need to abide by their guidelines and respect their wishes, but you’ll still be a contributor or a driving force to some capacity. It’s a compromise that might make the sale worthwhile – yes, you’re losing ownership, but you’re still making money writing the blog you love.
The person who made the offer will understand if it takes you a few days to consider what you’d like to do, and they expect you to ask a lot of questions. Carefully, slowly, and deliberately make your decision. Take as much time as you need – you can’t reverse your decision and you don’t want to walk away with regrets.
Sienna Walker is an avid traveler, a coffee lover, and an established education and careers, blogger. Currently, she is supporting online knowledge databases like UKareacode and Postcode-Checker, sharing her blogging and entrepreneurship tips with others. Feel free to reach out to her on @SiennaWalkerS.