What Is Flipping Domain Names or Websites?
Domain Name or website flipping or Domaining is a lucrative business which involve buying a domain name and then reselling it for a higher price.
One does not need to have good experience to get started. It is really simple but it’s not that easy to resell it.
Everyone who wants to have an online presence need a domain name be it an individual, organization, brand or company.
Every domain name has a price and the prices varies. If you are the owner of a domain name that somebody wants, you can sell to them with the price you set for it.
Domain names cannot be replicated. If one is taken, the only recourse would be to approach the owner to discuss a sale. While there are other variations you could choose, sometimes, owning a certain domain especially if it is attached to business can be worth the premium.
Often, people will scout out domain names that are still available, buy them, and then sit on them in order to sell them with higher price down the road.
Who Is Flipping Domain For?
If you have fair knowledge about online business and is willing to put some time in researching keywords and phrases that go well together, then you can try your hand on this business.
However, there is no guarantee that every domain names you bought will sale like hot cakes!
How Much Will You Earn By Flipping domain?
How much you will earn from flipping domain names or websites depend on the domain name itself and its extension like .com or .org and how much someone or a company is willing to pay you. You can assess your domain value at Namecheap.
Usually, a .com is more valuable than a .org since it’s more easy to remember and the most popular one.
A domain name or website can even sell for over millions of dollars! Generally, a website can be sold for 30x it’s original value!
Depending on who may want the domain down the road, you can sell it for good money. You can do the same for websites. You can buy domain names and hosting at sites like Siteground, Bluehost or Namecheap.
How To Choose A Domain Name To Resell
Choosing the perfect domain name to buy needs good research. Keep in mind the following things when choosing one:
- Make it easy to type and remember – Having a catchy and memorable domain name that is easy to spell it out and say is essential.
- Use keywords and phrases that people search for.
- If the domain name you want is already taken, adding simple words like ‘a’, ‘my’ or ‘the’ might help.
- Keep it simple – As far as domain name is concern, the more simple and descriptive is your domain name, the more people will find it easier to relate to what they want when they search for anything. So, keep your domain name simple. If possible, don’t use complex words.
- Avoid numbers and hyphens – Hyphens and numbers are often misunderstood because people who hear the website address might not know if it’s a numeric number or a word or they can misplace or forget the hyphens.
- Prefer a .com extention over a .net, .info, .org, etc.
How To Get Started With Flipping Domains
- Do a thorough research on the keywords and phrases that most people look for and note them down.
- Follow the steps mentioned above on how to choose a domain name to resell.
- After you finalize your domain names, search at Bluehost, Siteground, Namecheap or GoDaddy and buy them if they are available. Even if the exact name you want is not available, you know what to do, right?
- Start small by investing in cheaper names and resell them. By doing this, you will gain more experience and will be able to invest on higher names and flip them for higher profits.
- Repeat the process and scale.
Where To Sell Domains
Advantages Of Selling Domain Names/Websites
- You don’t need experience to try it out.
- Most domain names are cheap and easy to afford.
- A good source of earning that can even turn you to a millionaire overnight!
- You can do it from anywhere using just a laptop or a pc.
Disadvantages of Selling Domain Names/Websites
- There is no guarantee that your domain will sell and with high price.
- Sometimes it takes a long time to sell the domain.
- It works best if you have good capital and can afford to buy tons of domains.
To Sum Up
There is no guarantee that this will make you rich quickly. But, if you have the money and doesn’t want to put yourself through the hardship of running online business that requires more consistency, then this might fit you.
All you have to do is to put in efforts to do a thorough research to find domain names. Flipping them for a much higher price can bring you closer to your dream of financial freedom in years to come!
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MLian’s passion for writing is to help you understand that ‘All That Glitters Is Not Gold’. Her mission is to show you Practical and Actionable Ways To Earn Money online and offline to save your time and money – that you won’t get “SCAMMED” into buying something that promises Big but really doesn’t profit anyone except the owners.