Why Having a Job and Buying a Side Project is the Best Route
Many people have dreams of building a website that can support them. Dozens of influencers tweet about financial independence they achieved with website. I'm starting to think financial independence should not be the goal. The best path might be to have a job and buy a side project. Instead of building a project from scratch.
Existing Customers
The first milestone of anything is the hardest to achieve. For projects the milestone is customers. The first customer is always the hardest to get. If you were to buy an existing project, the first customers are already there. The hardest achievement comes with the website you buy. When buying a website the task is to scaling.
Don't Have to Come with an Idea
Coming up with an idea that people will pay for creating is not easy. Before working on the actual website, you have to come with a good idea. Then, find out if people are willing to pay for it. When you buy a project, you can skip the idea and research part. The previous owner did that for you. The existing customers are proof the demand for the website exists.
Startup Costs
I have worked to make money online since 2017\. During this time, I have bought books, courses, and other items. I bought them hoping they would help me learn to build a successful business. Then, I had to buy a new domain for every one of my new ideas too.
Those costs over the last 7+ years add up. I could have spent the same amount buying a project and would have made more money.
Financing Options
Some people might not know this but you don't always need to pay for the entire project upfront.
Deferred Payment
A seller might accept a deferred payment. A deferred payment is payments at a later date. You might pay 30% upfront and the other 70% in a year. Or 10% every month until you pay the full amount.
Revenue Split
Another option is to split the revenue with the buyer up to the full amount.
A revenue split can mitigate risk. Sellers might want to fire sale a website because the website has unfixable issues. For buyers to reduce the chances of this happening to them, they can offer a revenue split. If the seller does not want to take a revenue split, they might not believe the website will make that much money. In that case, go look for another website.
At the same time, there is less risk because if the website stops making money, you don't owe anything.
Borrow Against Retirement
Your job might offer retirement benefits as part of your salary. You can borrow against your retirement savings to pay for a website. Then, use the revenue from the website to cover the payments for the loan. Borrow against do not liqudate, that will lead to tax headaches.
Learn by Maintaining
Some people build websites to learn to code. If you buy a website you can learn by maintaining. Learn by fixing bugs. You can even duplicate the entire app and change every line of code to see the impact.
Then, you can add your own features to the app. You will have existing users to test out your features and give feedback.
Be Picky
As the buyer, you have the power in the transaction. The internet has many websites for sale and fewer buyers. Do not be afraid to walk away from a deal, there are other websites available.
If you don't see where your expertise can improve revenue, do not buy the website. The goal should not be to maintain revenue but to grow it. If you're an SEO expert and the website ranks #1 for every keyword, move on.
Worst Case Scenario
If you buy a website and you regret it, there are still some options for you to make your money back.
Raise Prices
Raising prices will increase your revenue. You might lose some customers but you will earn more per customer. This will, in theory, lead to making your money back faster.
Sell the Website
If you're reading this, you might be smart. You may have added some value to the website. If you have, sell it for a higher price and call it a day.
Benefits of having a Job and Side Project
Own Pace
When someone quits their job and start a website, they need to get sales and fast. When you're still working, the money from the side project helps. But you won't starve if you don't make $5,000 a month. You can work on the website as much as you want as long as you want.
I have noticed a trend of moving to country with a lower cost of living and starting a project. That's not for me, I like where I live. Since I have my job, I don't have to leave.
Failure, its an option
These apps are an alternative investment. An investment that I have to work on but I have more control over. When investing in anything, you should prepare to lose all your money.
If that happens for me, I will be fine. I could buy another website in a few months. This is not the case for people that go all in on their website, some don't have a safety net.
More Opportunities
Having a job will give you more opportunities for your project. You will not have to do everything yourself. If there's a task you don't want to do, you can hire someone or pay for software to do it.
You can automate tasks that will grow the business. Instead of relying on organic marketing, pay for ads.
Your Brand New Project Will Fail
You may have read about someone that built a new project every month. Then, six months later they made $10,000 in a month. Then, a year later they made $100,000 in a month.
That kind of story is newsworthy because it is rare. Chances of you making $10,000 a month after six months are small. A more realistic option is buying a project that is making $500 a month. Then, scaling the revenue to $2,000 a month.
100K in Revenue
I have noticed in some tweets about making $100,000 in one month, they say "$100,000 in revenue." Not "$100,000 in profit."
Then, in other tweets or blog post, they discuss using Facebook ads to find customers. The ads cut into the profit margin. The $100,000 in revenue might get cut down to anything from 20-50%. Not a bad profit margin, but a huge difference between revenue and profit. Then, the website will have other expenses that cut into the profit margin. Some expenses include transaction fees, server fees, and others.
Conclusion
Don't get swayed by big numbers without looking at the entire picture. Odds are you have more of a chance of having a sucessful business if you buy one and work a 9 to 5. Once your project starts making big numbers you should consider quitting your job.
Where can I buy such websites?
Very informative article.
I totally agree with the sentiment that buying an existing side project can save a lot of time on validation, especially when it comes to customers. The initial hurdle of getting those first users is already cleared. However, I think one of the big challenges when buying a project is making sure that demand is still there and ensuring the product's longevity.
You also have to carefully consider why the current owner is selling in the first place. Are they simply ready to move on, or are there underlying issues with customer retention, competition, or scalability that haven’t been addressed?
The real work begins after the purchase—growing the user base, improving the product, and figuring out how to take it to the next level. So while buying a side project can be a shortcut to market validation, the focus should be on long-term growth and understanding the full context behind the sale.
I generally agree with the article's perspective, but I believe that buying a project and building one yourself are like a double-edged sword. While purchasing a project can save us a significant amount of time, I think for a developer, creating a project from scratch—even if it fails—doesn’t necessarily result in financial gain or loss. Instead, it hones our skills and helps us improve ourselves from multiple angles.
After working on my own project, I’ve noticed that I can approach projects at work from a broader perspective—something I didn’t have before. These skills are invaluable.
The most important thing is to have reasonable expectations for a side project. Most will fail, but they are far from fruitless. The experiences gained are something that can’t be fully learned from a project that’s simply bought.
This article offers valuable insights into the practicality of balancing a full-time job while growing a side project. The idea of purchasing an existing website rather than starting from scratch is a smart strategy, particularly for those seeking to minimize risk and expedite results.
As the owner of cookout menu a platform that provides up-to-date menu information and nutritional data, I can attest to the advantages of scaling an established website. By acquiring a project with a proven customer base and demand, you bypass the challenges of the initial setup and can focus entirely on optimizing and expanding its potential.
I also appreciate the emphasis on financing options and learning opportunities. Deferred payments and revenue splits reduce the upfront financial burden, while maintaining and improving an existing project allows for hands-on learning in a real-world environment.
For anyone considering this approach, it’s essential to choose a project where your skills can drive growth. For instance, if you’re skilled in SEO or digital marketing, look for websites with untapped potential in these areas. This ensures that your efforts not only sustain the project but significantly enhance its profitability.
This dual approach of maintaining a stable job while scaling a side project offers both financial security and entrepreneurial growth—a compelling strategy for anyone venturing into online business.