Selling your side project is never easy, but it can be one of the best decisions you make.
It can allow for increased time and financial freedom (allowing you to focus on other projects).
Selling your side project can also generate further revenue if you were planning to eventually either shut down or dramatically reduce its development due to the overwhelming amount of time and/or effort needed to keep it going.
Selling your side project can be a great way to boost your income, or if you are looking for a new job, it can help land you something that you want.
There are many platforms that let you sell your side project online, which take away most of the hassle that comes with selling.
In this article, I will to describe the process of selling your side project.
I’ll also discuss which platforms are best for selling your side project, in addition to identifying reasons why you should and shouldn’t sell your side project.
Why You Should Sell
Have you ever wondered whether it's worth selling a side project?
Here are some reasons why I think selling is the best approach for you.
If you are tired or bored of running your side project, maybe it is time to sell.
Selling your side project can give you an appealing lump sum of cash, but don't forget that if you sell, you will no longer reap the benefits of your side project...
Three reasons why you should sell:
- You'll get a lump sum of cash from the sale
- The new owner could improve your project and take it to new heights
- You will have more time to focus on other things
Why You Shouldn't Sell
There are many reasons why you shouldn't sell your side project.
Side projects can be great activities to have on the side.
They can provide you with an emotional and creative release, and they can be an important stepping stone towards bigger and more ambitious projects.
If you have a side project that is successful, it can be a good source of regular cash.
Three reasons why you shouldn't sell:
- You will no longer have control or ownership of the project
- The new owner could make bad decisions leading to the demise of the project you started
- You will have to wave goodbye to the income source from your project
It is important that you weigh up the pros and cons before deciding to sell your side project!
Side Project Marketplaces
If you don't know where to list your side project, here are some of my favourite marketplaces for buying and selling side projects.
IndieMaker is a platform for buying and selling side projects, SaaS apps, domains, and social media accounts.
IndieMaker features for sellers:
- Add financial & analytical data to your listing
- Receive messages from interested users
- Have your listing displayed to 14,500+ potential buyers
A side project marketplace where founders can sell their project to a community of trusted buyers.
Transferslot features for sellers:
- Listings are promoted in weekly email newsletters
- Potential buyers can contact the owner and make offers
- Side projects get their own simplistic listing page
SideProjectors is a marketplace and discovery system for side projects, where you can buy, sell, or promote your side project.
SideProjectors features for sellers:
- Sell, buy, or promote side projects
- Buyers can comment on listings, send messages to sellers & send offers
- Import project information from ProductHunt, or by entering your URL
- Popular listings will be shown higher on the homepage
AcquireBase is a marketplace for buying and selling side projects and SaaS apps.
AcquireBase features for sellers:
- ZERO listing fees, 0% commission on successful sales
- Sell securely thanks to built-in Escrow
- Get offers from trusted buyers
- In-depth listing page
Flippa is a website, domain & app marketplace which is best for premium side projects that are looking to sell for $15,000 or more.
Their fees are high, but they do have a built-in business valuation tool for pricing your listing, and an escrow service which gives buyers and sellers financial protection.
Flippa features for sellers:
- Free valuation tool
- Built-in Escrow for secure payments
- Auction feature to receive the best possible price
- In-depth listing page
From the marketplaces that I have listed, Flippa & AcquireBase are for more premium side projects that have a larger selling price, as they have Escrow built-in, which enables financial protection for buyers and sellers.
If you want as many people as possible to find the listing for your side project, create a listing for your project on multiple marketplaces, and share it across social media.
When you are creating your listing, ensure that you add high quality screenshots, accurate financial data, analytical data, and information about your project.
Tips & Tricks For Sellers
If you are considering selling your side project, you will have to gather all of the information about the project.
You should also think about what will make the project appealing to prospective buyers, and what you can do to make it sell for the best possible price.
Here are some tips & tricks that will help you to sell your side project and get the best possible price for it.
Keep track of financials
When you are trying to sell your side project, it is crucial that you have all of your financial information at the ready, so that you can show prospective buyers how much revenue your side project is making.
Understanding how your project makes money, is a key to setting an accurate price.
As well as that, any potential buyers will ask for financial data.
Financial data that buyers will want to see:
- The running costs
- The monthly & yearly revenue
- The profit margin
- The business model
Along with any other data that will be useful for potential buyers.
Install analytics & provide reports
When you first start your side project, you must setup analytics tracking, so that you can see how many people visit your website.
Potential buyers will want to know how many people visit your website, what are the main sources of traffic to your site, and other things like this.
Using Google Analytics, you can create custom reports that show user acquisition, user retention, demographics, engagement, and so on.
Being able to provide potential buyers with the analytical data for your site will help them to decide whether or not they want to purchase your side project.
Selling your side project can take time, so you need to be patient with the process of selling your project.
You are going to receive many different questions from people interested in buying your side project, you should answer them with detailed responses that you can back up with factual data.
Discussions with buyers can take days, weeks, or months, before you reach an agreement, so be patient, take your time, and don't rush the process.
Now you should be ready to sell your side project, and all I can say is good luck.