In the 20th century, a solid passive income generating endeavor was to buy a vending machine franchise. Starting such a business takes time. You would have to network and make deals with businesses to provide vending machines. If you start out buying out an established vending machine franchise, then you have built-in brand recognition, a demographic and customer base to serve, and an expectation of service.
While it is not an exact comparison, you should consider 21st-century passive income generating opportunities in the same manner. Especially online. Most people who aspire to launch a blog for income generation have a long road ahead of them. For one thing, it can take months or years to generate a loyal a demographic base who will visit your website regularly. It can take just as long to develop a business strategy that generates appreciable income on a consistent basis.
There are numerous ways to monetize an old blog for your needs. You could generate tens of dollars, hundreds, or thousands of dollars of dollars a month, depending on your business strategy. Before we get into all of that, let’s further elaborate on exactly why buying an old, forgotten, and perhaps dormant blog may be in your passive income generating interests.
Many Ways to Generate Income
Most millionaires have at least seven separate sources of dedicated income. Unless you inherit a diamond mine, most people don’t make money from one business source. After you buy an old website or blog, you can reengage its former visitor traffic with social media engagement and advertising. You must have articles and blog content that will entice visitors to patronize any available business opportunities you offer.
There are many ways that you can generate extra income through a blog. You can become an affiliate marketer. Partner with a business by adding links to that business on your blog. For every visitor that visits that link on your blog, and buys a product, you then earn a commission percentage. You can also write paid reviews, create a paid membership site, solicit donations for causes and take a percent, sell ebooks, sell access to webinars or online courses, and so on.
Get an Old Blog
Dormant sites that have not been used in years are still SEO optimized, recognized by Google search rankings, and probably cost a few dollars a year to maintain. Look for websites that have been dormant for a year, a decade, or more. That way, you can also analyze all relevant traffic data related to the site for your business strategy and demographic identifying purposes. You also need to develop a metric to assess the value of such websites or blogs.
Buying a new website is counterproductive. It won’t have researchable data, may not be SEO optimized, nor have researchable data on former visitors. Also, try to avoid any old websites or blogs that don’t have any links.
Buying an old blog just within itself is no guarantee that you will soon begin generating passive income. You have to know who is visiting your site, how to engage them, how to stay engaged with them, what they want, and how to sell to them. Also, you need to generate and maintain thousands or tens of thousands of websites visitors every month. Then, you’ll need to figure what percentage of visitors is likely to buy products or services offered by your blog every day, week, and month.
Your best option may be to start small. Start a new blog as a test run. Spend a few months learning how to monetize it, perhaps through affiliate marketing, for instance. Get an idea of what you want to do before you begin contacting multiple blog owners or webmasters to buy old blogs.
- Things to Know Before You Start a WordPress Blog
- Free Online Tools That Can Help Freelance Writers and Bloggers
- Free Help For Personal Finance Bloggers
Join the FREE Newsletter
Subscribe to more PF Advice and helpful tips straight to your inbox.