A domain name can be an excellent source of passive income, allowing you to make money on the Internet with little effort or expertise. However, if you want to make money by selling domain names, you need to understand how the process works and how much money you can expect to make from it.
Here’s what you need to know about making money by selling domain names in order to maximize your revenue stream and ensure that you choose domains that are worth your time and energy.
Find a perfect domain name that sell
There are many ways to find a perfect domain name that sells. You can do a quick search in your favorite domain marketplace, using your own knowledge or using one of many tools on the internet.
Just make sure you don’t buy too short and simple domains as many times they don’t sell as well and are also harder to brand because of their shortness. And just because some famous brands have already one-word names does not mean that it would not be valuable for you if someone else has taken the same keyword phrase in their names.
The best domains are those that people remember easily, so go for something interesting, but don’t get carried away.
Check domain availability
Your second step is to make sure that you have found a domain name that is available. There are several free services, such as Hover and GoDaddy’s availability checker, that will help you do just that. And if you find an interesting name already taken, try adding some words in front of it or behind it to see if one of those variations is available instead. If not, you can consider alternatives that include similar-sounding words.
Evaluate how much money you think it’s worth
Domain names are definitely worth a lot of money. In fact, some domain names have sold for millions of dollars.
However, these are usually brandable domain names and it can be difficult to find such a name that hasn’t already been purchased or otherwise taken off of the market.
Still, if you manage to find one that is available, you could potentially get thousands or even millions from a single domain name sale. It all depends on how valuable you think your domain name is!
So, to evaluate your domain name, try searching various variations of your domain name (different words and/or spellings) to see what else is out there.
How To Sell A Domain Name
There are a few different ways to do this
- Reselling is the most common way
- Flipping domains is another option
- Finding an investor is also possible, but risky
- If you have your own website you can sell directly through that as well
Deal with offers
deal with offers (and try not to freak out)Not doing so is your biggest mistake, and can lose your money.
The single biggest factor in whether or not you make money on a domain name is how many offers you receive for it, and what those offers are. If that’s not a little scary to think about, don’t worry there’s no way to know exactly what offers will come your way ahead of time.
But there are definitely things you can do to increase your chances! To start, include every email address known to man – from clients, friends & family; anyone that might be interested in buying a website from you.
Flip On Flippa For Profit
Flippa is a marketplace for buying and selling websites. Whether you have a website or a domain, you can list it on Flippa and sell it to someone else who needs it. There are plenty of people willing to buy your website or domain. If you find one that looks like a good fit, think about why you’re posting it and make sure your audience would be interested in reading more about it on an ad-supported blog platform like Flippa.
Buy Low, Sell High
Although domain names can appear extremely expensive, they’re actually one of the cheapest forms of investing. A domain name will only ever cost you $12 or so, but you can sell it for well over $1,000 if your hunch is right and it gets picked up.
However, remember that if it doesn’t take off like you thought it would (and with a lot of brandable names in particular), then you may end up looking pretty silly. So, be cautious when taking these types of risks. Sell when you feel confident that there’s a good chance to make money on it later on down the line.
selling domain names can be a lucrative business venture. By following the steps outlined in this article, you can create a successful domain name selling business. And who knows, maybe you will be the next big domain name seller.