Want to buy a website, but how do I approach it?

Want to buy a website that I know the owner almost at a personal level, he is getting up in his years, and doesn't really do anything to improve the site or fix it, its a very high traffic site, I am an administrator of the site itself, so I know the site inside out.

How would you guys suggest I go about approaching the owner to buy his site from him?

 

I would just ask him. Tell him you like the site and that you would be interested in purchasing it. In all honesty, your mind is you playground. That's the beautiful thing about IP, there is no limit to your ability to close the deal as long as it's a win win scenario.

 

Exactly.

You would approach him and float the idea about buying it. You should have done your homework prior and know what you are looking to spend for this site. Also if he is interested in selling, you still need to do your due diligence in getting all the relevant information from him. Revenue, traffic sources, and so on.

 

The thing is, I know the revenue, the traffic sources, and all of that, I handle/handled most of that, so I do got a heads up of what is going on. He doesn't have any revenue, but there is a large potential for it though. He is behind on times, and if I'm at the helm I can turn this website into a powerhouse.

 

In my personal experience, there needs to be some sort of sense of urgency. This way the owner will not have enough time to weight pros and cons of selling the site. My opinion may not be as valuable however if you know him at very personal level...but it might work.