What Is Flipping Domain Names Or Websites?
Domain Name or website flipping or Domaining is a lucrative business that involves 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 simple but it’s not that easy to resell it.
Everyone who wants to have an online presence needs a domain name be it an individual, organization, brand, or company.
Every domain name has a price and the prices vary. If you are the owner of a domain name that somebody wants, you can sell it to them at 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 at a higher price down the road.
Who Is Flipping Domain For?
If you have a fair knowledge of online business and are willing to put some time into researching keywords and phrases that go well together, then you can try your hand at this business.
However, there is no guarantee that every domain name you bought will sell like hotcakes!
How Much Will You Earn By Selling Domains?
How much you will earn from flipping domain names or websites depends 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 easier to remember and the most popular one.
A domain name or website can even sell for millions of dollars! Generally, a website can be sold for 30x its 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 host them 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:
1. Make it easy to type and remember – Having a catchy and memorable domain name that is easy to spell out and say is essential.
2. Use keywords and phrases that people search for.
3. If the domain name you want is already taken, adding simple words like ‘a’, ‘my’ or ‘the’ might help.
4. Keep it simple – As far as the domain name is concerned, 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.
5. 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.
6. Prefer a .com extension over a .net, .info, .org, etc.
Here is a complete guide on How To Choose A Domain Name.
How To Get Started With Flipping Domains For Profits
There are two ways you can get started.
- To buy new domain names.
- To buy expired domain names with high DA (Domain Authority).
Whichever way you choose, remember to follow the following especially for buying a new domain name.
1. Do thorough research on the keywords and phrases that most people look for and note them down.
2. Follow the steps mentioned above on how to choose a domain name to resell.
3. After you finalize your domain names, search at Bluehost, DreamHost, 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?
4. Start small by investing in cheaper names and reselling them. By doing this, you will gain more experience and will be able to invest in higher names and flip them for higher profits.
5. Repeat the process and scale.
Where To Sell Domain Names?
Related Read: Best Site to find and buy expired domains with traffic.
Advantages Of Selling Domain Names/Websites
1. You don’t need the experience to try it out.
2. Most domain names are cheap and easy to afford.
3. A good source of earning that can even turn you into a millionaire overnight!
4. You can do it from anywhere using just a laptop or a pc.
Disadvantages Of Selling Domain Names/Websites
1. There is no guarantee that your domain will sell at a high price.
2. Sometimes it takes a long time to sell the domain.
3. It works best if you have good capital and can afford to buy tons of domains.
There is an extra way to earn money if you did buy a new domain name for flipping. It is called Domain Parking.
You can actually Park your domain name and also make money out of it.
GoDaddy offers you the option to park your domain. The parked domains are used for running advertisements.
To Sum Up
There is no guarantee that this will make you rich quickly. But, if you have the money and don’t want to put yourself through the hardship of running an online business that requires more consistency, then this might fit you.
All you have to do is to put in the effort to do 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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