Before starting this business you need to know about domain flipping. I know that being less tech-savvy can make your process slow to understand the business. Most of the people still don’t know about domain flipping so you have a lot of scopes to grow rapidly.
Before going to any other point let’s understand what is domain flipping?
Buying a domain at a lower cost and selling it to higher cost is one definition of domain flipping.
Domain flipping is one of those businesses which can generate high revenue at a lower cost.
Contents
Domain Knowledge:
Like any other business, this business also requires research. You need to understand the domain.
A Domain name is your website name. A domain name is the address where Internet users can access your website. It is followed by a extension such as .com, .org, .biz, .edu, .gov, .xy x or even country codes such as .nl, .tk, .be, .in, cn, .ph .jp .ca .mx .br .eu .fr .cl .uk .us. and many more.
Domain Name:
Creating the domain name is a crucial part of your business as your clients urge for specific and easy to remember domain.
The domain needs to be on point explaining the brand, for example, .com, Google, .in is the domain name simple and remarkable.
Domain names are categorized and can be purchased and sold according to your domain segment. Such as; Creative
Domain Names
Creative and innovative things are known to catch people’s attention, and the same goes with the domain names.
SEO Guide Domain Names:
The goal is to be on top and that can be done much better by SEO guided domains. You can drive as much traffic as possible which can be achieved by Search Engine Optimization.
Auctioned Domain Names:
You can go for the auctioned domain names as with cheap rates and then sell it at a higher cost.
The best way to stand with the competitors is by buying the domains which are put on auction by them at cheap rates.
Expired Domain Names:
Expired Domains are the one which is currently not in use by the owners and are ready to be sold. These expired domains were live at some point which means that already have traffic and some domain authority
Local Domain Names:
This is where you can generate your market. Everybody around you wants to see their business on google search. This can help you to conduct your market.
Existing Domain Names:
Yes, buying existing domain names can be profitable too. Existing domains with a potential for profit can be found using Sedo. Pick domain names that have good traffic, back-links and Google Page-Rank under 17 characters.
Also, steer clear of existing domain names containing special characters or numbers because they are not likely to be sold.
Learn and Earn:
Buying and selling of domain take time, so if you think that you can run your business smoothly then that’s not it works.
In the beginning, you will make several major blunders like losing money over useless domain names, missing prospective deals and much more; but slowly, you will get the hang of it. The road to flipping domains for sums is not easy; you need to climb a steep learning curve before you can become a pro.
Business Plan:
Budgeting:
- The standard price of a domain ranges between US$10 and US$15 per year.
- You can go for a less expensive domain such as you can buy a domain name for as low as the US $6 per year. That can help you to get a good profit.
- As in domain price depends upon the domain flipper. You should not block your money by taking expensive domains.
- With market research would like to suggest that if you are new to this market, you can play with your budget with $1000 to $1200 that will help you to buy 80 to 120 domain of all kind. Once you get the knowledge you can expand it make it your full-time business.
Play with keywords:
A search for great keywords with no plagiarism or copyright issue can turn out to fruitful for you in the market.
As well-known companies, government organizations go for their domain where you don’t have to sell them common domains. You can show your creativity here finding out a domain from their name.
Copyright:
This business depends upon domain name and hence you like you many other people are there who are doing this business.
So copyright can make your business speed slow. A client doesn’t prefer these domains and can lead you in trouble legally as well as professionally.
Domain Variations:
The domain name is what you are working on so there are different ways to sell your domain.
Some of the variations are the extensive domain, creative domain, auctioned domain, SEO guide domain, and generic domain and so on.
Let me explain the different methods that will help you to grow your domain flipping business.
Domain parking flipping system:
There are plenty of domain names which get expired. You can regenerate them as they are the one who already has their traffic.
After obtaining this kind of domain you can advertise and sell it to potential customers.
Generic Top-Level Domain Extension (gTLD)
As the name describes, they are the most widely used domain extensions and are used by most far-famed websites. Domain extensions like .com, .org, .net, .gov fall under this category.
Traditional Flipping domain system:
This involves only the buying and selling method used by many domain flippers.
You need to purchase the domain and auction it to sell it and the bidder will bid for your domain to purchase.
Optimized websites flipping system:
This method requires your efforts as it is the most fruitful flipping method.
All you have to do is get a specific domain, work for its optimization to Increase organic traffic.
A good social media following and other things that could make the website popular and then sell it for maximum returns.
Select your profitable domain:
You need to be specific to the sector to make a profit.
Identify your sector that is worth your focus and efforts.
You need to have keen knowledge about the domain name as it once becomes renowned people will tend to buy it.
You cannot buy domains that suit every sector. Therefore, you need to identify a particular activity in which you wish to specialize in buying and selling domains.
Identifying a sector or activity enables you to focus efforts on finding the latest trends, upcoming events and activities and various other elements for which someone may need an appropriate domain name.
Matching Domains can help:
It is said that most buyers opt for .com suffixes while choosing a domain name but it is just air. A company will usually opt for several matching names with different suffixes such as .com, .org, .net, .biz and even those that are country-specific such as .br, .in or .pt, among others
You can find some great domain names for cheap by keeping in mind these simple steps.
The brand that values: Another aspect to consider is branding. Some great examples are Facebook, Twitter, Google, and Yahoo. These names are extremely easy to remember. While buying a domain, just need to figure out how does it sound and is it easy to keep in knowledge.
Keep it compact:
As a rule, buyers of new domains look for those with the shortest length or abbreviations of their company name. For example, all the government network has a very short domain name: gov The shorter the domain is easy to remember, and that is the reason why it is in demand.
Promotion and marketing to all level:
What can increase your sales, other than marketing and promoting on various websites?
Multiple sites promotion and also the advance payment methods to reach you rapidly can help you to increase your sales.
Payments methods like PhonePe, GooglePay, PayPal, Net Banking and many other online payment methods can help you to reach out to your promotion.
Risk Ratio:
Though this being an easy and quick earning method you need to be careful about risk bearing features.
You need to be careful that not all domains will work with the same speed in the market some can catch the eye too fast or some can create no sales.
You need to be clear in your head that not all domains will give you profit and you have to be patient till it doesn’t get popularity in the market.
Do not go with high pricing which is beyond reach, be realistic and approachable and try to give better service in minimal time.
As with the period like any licensed domain also gets expired with the time of year or two you need to renew with time to time if they aren’t sold.
These are the basic points you need to keep in mind before starting your business in domain flipping.
You can choose media sites and professional sites such as Linked In to start your business.
Just remember this business requires major marketing.
I hope this will enhance your quality of being a domain flipper. Comment and let us know how it helped you to understand the market.