So you buy a domain just so you could resell it for profit.
This is what some smart entrepreneurs out there do, buying a domain for like $15 and later reselling for about $500 is a super great business model. The interesting thing about the business is that you can resell expired domains as well.
- Always buy a .com domain
- Make your domain very short
- Use OneWord to get one-word domains
- Use NameBounce to generate short business names
Note: if you want to use a new domain, ensure that you don’t resell immediately, you will have to leave for about 4 to 6 months to mature.
Checking Worth of Domain
You should check the worth of a domain before buying, you can use the domain keyword to check the worth of the domain you are about to buy. Go to Namebio, you can also check the worth of a similar domain too.
The above are websites where you can list your domains, and people interest will make an offer for them.
Cost of Startup
The only cost of starting this business is the cost of buying your domain, you can buy up to 5 to 10 domains to give you a great chance of reselling.
Make sure you don’t buy long-tail domains, short domains can be easily remembered and as such more likely to be bought.
Organic Method: When you list on the above platforms, you need not worry about marketing again, the platform takes care of the marketing for you. They make a commission when you sell your domains.
Best Strategy: The best strategy is to cold email businesses that are related to your domain. For example, if your domain is Cryptofarmer.com, and there is a business already into Crypto Farming, you can send them an email that you are willing to sell your domain for them.
Tips: To get great results, when cold emailing, ensure you tell the potential buyers the importance of having a domain that tally with their businesses.
Pros and Cons: Domain Mining and Investing is a high ticket business, but it’s not a business you make money immediately, it takes an average of 3 months to 12 months to make sales, so it’s not a Get-Rich-Quick business. It requires patience and consistency.
Estimated Monthly Revenue: When you eventually mastered the art of Domaining and Cold emailing, you can start making between $300 to $900 monthly.
Estimated Monthly Cost: You should budget at least $100 annually to buy your domains and renew your domains.