What are turnkey assets? Turnkey assets are non-operational online assets like shells of websites, blogs with a small amount of content. The idea behind these sites is that the buyers of these sites have absolutely no clue how to put up a website. They don’t know how to to do it or they don’t want to know how.
This is where you come in. You put in the time, effort and energy to find specialists on Fiverr to put up a website. You pay them and then you turn around and sell the starter website or low content blog that they built for you. What are you really selling? Well, you’re selling time, convenience, and most importantly, niche selection.
You have to pick out the niche. You have to buy the domain name and you have to customize the asset based on the niche. Those are the services that you are selling. Again, people would pay for this bundled service because either they don’t have the expertise or they don’t have the time to achieve that expertise.
This is probably one of the better ways to make more money selling other people’s services. You’re not selling your own labor. You are selling other people’s labor. You also bundle different services together so you leverage whatever is special in the services of others.
This means that you get to play the owner of a sports team. Successful NBA professional basketball teams win championship after championship because the management knows how to cherry pick the right talent. You can do the same on Fiverr. There are many highly talented and skilled people from many countries who do excellent work.
You cherry pick these people so they work together to produce a website for you. Since your finished product is so vastly superior from digital assets created just by one person, you can charge a larger premium.
Another great advantage to selling turnkey assets is the fact the likely buyers of this type of bundled service tend to be professional buyers. Don’t be surprised if the person who buys your website from you turns around and sells it to another person after your buyer pumps up the traffic, creates more content and actually starts making money from the website you sold that person.
They then take the website to the next level and then they flip it for many times the price you charged them. That’s how the game is played. What do you think will happen if that person is able to sell your prebuilt turnkey asset for a lot of money? That’s right. He or she will come back to you again and again and again.
The bottom line here is simple. You are not selling your time directly. Sure, it takes time to play project manager and coordinate all these different Fiverr freelancers, but you’re not doing the actual work. Your main work is basically finding a buyer.
The big disadvantage to this Fiverr monetization model is that you have to come up with the cash up front. You’re going to have to pay your specialist upfront. You’re going to have to pay the person finding the domain name. You have to shell out some cash for the WordPress theme designer, as well as the person customizing it.
You probably would also have to get somebody to produce content, as well as graphics. This can add up. The good news is, Fiverr is so cheap. Don’t be surprised if it takes you all of $50 or a maximum of $75 to come up with an asset that you can turn around and possibly sell for $200 or if you really do your homework and are good at closing, $400.
Another drawback to this model is that you need to pick the right niche or your asset might not sell. This is a big one. If you pick a niche that has a fairly low demand or has very high standards, you’re probably not going to sell the asset that you have built.
While it’s true that you can mark up the amount of money you paid the service providers to produce the asset, you still have to sell many of these assets to make real money. The average American needs to make around $5,000 just to achieve average income.
This means that if you are turning around and flipping assets using Fiverr labor and your average is $200 a website, you need to move 25 of these sites. Now, that might seem like a low number, but you’re basically going to have to give yourself a quota of selling one website pretty much every single day. That’s quite a tall order.
Another weakness of this business model is its focus on customization. You have to customize the asset each and every time. You cannot resell the same asset over and over again. You’re not selling private label rights (PLR) material here. The reason why you are able to charge a premium is because this is custom work.
This brings up another disadvantage. Since you are dealing with custom work, there is no assurance that the people you hire to get work done on Fiverr will produce the same quality the next time around.
This can ruin your reputation. You might have a repeat customer who is expecting the same high quality as the site that you just sold him or her and it turns out that your service providers simply got lazy or just barely put in any effort and they produced crap. Not only would you fail to make a sale with your repeat customer, but that person will probably not come back.
Finally, one of the most common ways you can sell turnkey assets is to list it on Flippa. Depending on your niche, your listed asset may not sell the first time you list it. This means that you have to relist again and again.
Unfortunately, you have to pay for each listing on Flippa and these listing costs can cut into your profits. It’s not unusual for people to get so desperate about unloading an asset, that they price it so low, and when you factor in their Flippa listing fees, they actually lost money.
Step by step directions
Find turnkey assets that sell quickly at decent pricing on Flippa
Essentially, you’re going to reverse engineer what already works on Flippa. There is no need to reinvent the wheel. Go to Flippa.com and look for websites for sale. These are websites that are not operational and are totally brand new.
Look at the different niches that are selling. This is very important. Do not look at stuff that hasn’t sold yet. Look at auctions that have successfully closed. Pay attention to the niche and the price. A pattern should emerge. Focus on niches that command really high prices.
Now, don’t get excited. Just because you found an action where a totally brand new site sold for $2,000, doesn’t mean that you should rush out there and start building a similar site. Pay close attention to similar websites on Flippa. Does that type of website sell quite a bit every month or is this a once in a blue moon kind of thing?
Your job is to look for a niche that sells frequently on Flippa at a high enough price.
Find service providers on Fiverr that can be used to build your asset
Now that you have a clear idea of the turnkey sites that sell well on Flippa, break down the kinds of services needed to build such an asset. If you are selling websites, you obviously need a WordPress theme designer, a WordPress developer which includes installation, content, graphics and you also need a person to find the domain.
Put all these together so you can have a list of services for which you would look for contractors. Next, you go to Fiverr and but strategically.
Buy several gigs to build the asset
This seems pretty straightforward, but it’s actually more complicated than that. Remember, you’re building a custom asset. This means that you are building something of quality. This is not stuff that you’re just blowing through. This is not just stuff that you’re trying to zip through and build as quickly and as cheaply as possible.
Believe me, if you do things that way, it’s going to show and people looking to buy your asset probably won’t because they have seen better quality. Do not compromise quality. The good news with Fiverr is that there are so many service providers there that you can pay very little to get very high quality. Do that.
Sell your turnkey asset in Flippa
This is pretty straightforward. List the turnkey asset that you have built and sell it on Flippa. Ideally, you should have the website ready for transfer on your server. It should have its own dedicated domain name. Make it easy for you to transfer digital assets on your server. Coordinate with the technical support people at your host to ensure that the assets that you plan on selling are very easy to move.
List you asset on Flippa. Now, don’t get excited. I know you’ve done your research and I know that the chances of this thing selling the first time you list it are quite high. However, be ready for the possibility that you may have to relist this item several times before you can move it. Factor those costs, as well as the value of the time you spend relisting into the final price of the asset.