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How do you figure out what an established board is worth? Someone recently approached me about selling, which I would really love to do, but I have no clue what to ask for.
I have a niche board that is roughly 3 years old that I no longer have an interest in running and maintaining. It ranks well (#7 for the most general search term related to what it is, #1 for another general search term) after doing a couple of quick searches. The traffic is pretty steady and with minor work could do a lot better - we locked the board down pretty tight as it was hard to find moderators that could commit enough time to keep the place running as well as we would have liked and we started having a huge problem with spam bots.
Anyone have advice?
If you have effectively monetized the site, of course, then it becomes an investment/revenue play and finding a buyer may not be that difficult. In my experience, though, the majority of stand-alone communities aren't optimally monetized. Few community operators have the resources to engage in serious direct ad sales or negotiate other partnerships.
Your best bet would be to find a strong player in your niche who would find your traffic and community highly relevant to whatever they are selling. For example, an ecommerce site in your niche might be able to leverage your traffic into sales and generate far more revenue than, say, Adsense ads (often the default community monetization method). If you can find such a company, you will be selling based on relevant traffic rather than past revenue.
Good luck, Aaron!
Wishing all the best!