If you have a blog which have articles in French and English, that can be treated a multi lingual website. There are many open source software which gives multilingual support under the same domain, probably under the same URL. For example, let us assume a WordPress support site with boards for support in multiple languages. That is pure case of genuine content in multiple languages.
Abhi What are the challenges you face ?
If it is like the case of the WordPress support I mentioned above, you are going to gain well on Google than loosing it.
Abhi Do you think it is an easy task ?
It is hard to get genuine content in multiple languages. So answer is NO, it is not easy.