If you’ve read our previous post on What is location independent income you should know what location independent income is already. If not, go read that post first. In this post I will discuss one way to create an independent income that you may not have considered before, by purchasing an existing online business.
There are many ways to purchase an existing online business but here are three of the best known websites:
- https://empireflippers.com/marketplace/
- https://quietlight.com/listings/
- https://microacquire.com/buyers/
It is important to do your own due diligence before purchasing any business, but these websites offer you metrics to see how the company has performed and generally you can ask the seller any questions. Many sellers also will offer calls or other training materials to get you up to speed for operating the business as well. These businesses range in price anywhere from several million dollars down to as low as only a few thousand. That’s right, for as little as $3000 (or even less!) you can purchase a very small business, such as a new app. You can get started as a business owner for a lot less than you probably thought! The best part is most of these businesses can be fully location independent, so you can do them from anywhere.
As an example from microacquire: (this is not investment advice, do your own due diligence):
This is a iOS app, if you purchase it you get the app, its codebase, and existing users. The business is small, it only will generate about $150/month, but for the price it could still pay for itself in just over a couple years. Obviously, you will probably do better if you actively promote and develop the business you purchase, but many of these are already established and can potentially earn income with very little effort. Do your research and it will surely pay off:
Another example, this time from Empire Flippers (again, make sure to do your own research before buying anything):
This time, we are looking at a business that sells books, ebooks, paperback, and audiobooks. You get the rights to 32 already written books which are already selling for over $5700/month in profit.
Another idea many people don’t consider, if you are good at creating and running websites perhaps you can sell one or more of your websites on one of these sites to get some funds for other endeavors, or even as a business itself of building online businesses.
Another site I’ve heard good references too is https://flippa.com/
Do you know other good websites, or have any personal experience with these markets? We’d love to hear from you in the comments below.