How To Make Money Buying Domain Names
Why Make Money Buying Domains
For this week’s Freedom Friday video, we look at how to make money buying domains. Before you head on over to GoDaddy to make a domain purchase, you may be wondering why this is a great way to make money. The answer is quite simple really. You can make an absolute killing reselling domains on the GoDaddy Premium Domain platform. We will show you exactly how to list your domain on the platform next week, but this week we really want to focus on just how much money is out there in this niche.
Usually, here at the Online Business Realm, we try to temper expectations for our audience. We aren’t about teaching you how to become rich over night or how to create a fly-by-night scheme. However, when it comes to buying & selling domains, there is a LOT of potential income. Most premium domains resell for at least 1000% mark-up on them. I have seen some go for as much as $15,000 which would be a 10,000% mark-up. So you are probably wondering, “what’s the catch”?
Making Money Buying Domains Takes Patience
The catch to making money buying domains is that it requires much more patience than other methods. If you find a great domain you want to purchase then buy it before someone else jumps on it. There may be someone looking at the domain at the same time you are… but most likely that is not the case. What is much more likely is that you may hold on to some of the premium domains for years. Are you prepared to wait that long? Many people are not. That is exactly why this is such a great business to get into. Many people refuse to work within this niche because they simply lack the patience.
There is a method by which you can attempt to speed up the process. Once you find a premium domain and list it, you can try finding businesses that would be interested in the domain. After you find likely interested businesses, call them and try to speak to the person in charge of their advertising. Explain to them that you have a domain they may be interested in. What you may find is that most businesses with a name that closely matches the domain are not the most internet savvy people. This also leads you into an opportunity to not only influence them to buy the domain, but you may even be able to talk them into allowing you to build their website & do their SEO.
How to Find Good Domain Names
The secret to this method is to find actual domain names that people will want to purchase down the road. There are a few great ways to do this, but the most popular one is to search businesses within a city on Google. Scroll through all of the businesses listed on the Google Places portion of the search results. Look for businesses that have contact info, but lack a website. You would be surprised at just how many businesses in 2018 still do not have websites! When you find a business without a website, see if you can find a domain name that closely matches that business and buy it.
Another method to try is to think about technology trends. For instance, if Apple is releasing a new version of the iPhone, look for domain names that would match it. Apple is a very popular brand and many people rush to get domains as soon as a new announcement is made. Think about how lucrative a domain such as iPhoneXStore.com would be right now? You could easily sell this domain on the GoDaddy Premium Domain platform (this was just an example as that domain is already taken).
Don’t forget to watch our video this week and tutorial next week! Thanks for watching!