How To Start Selling Goods And Services Online
How frequently do you shop online?
If youre like most people, youre no stranger to online shopping. Each year the number of online shoppers climbs higher and higher, and we dont see that trend declining any time soon. According to Statista, Retail e-commerce sales worldwide are forecast to more than double between 2018 and 2023, surpassing 6.5 trillion U.S. dollars in 2023.
Those statistics make starting an e-commerce website prettyappealing, dont they? And if you need any extra motivation, think about hownice itll be to be your own boss, make your own hours, and be able to workfrom anywhere in the world.
Look For Short Domains
Shorter domain names are inherently worth more.
Why?
Because they’re easier to type in and easier to remember. With that said, you might find that these domains are more expensive up front, so you’ll want to determine how much you might be capable of selling it for before making your purchase.
If you’re capable of finding a short domain name, it’s best to purchase it before someone else does. These domains can be scooped up in a matter of seconds, so it’s worth a shot.
The majority of short domains have already been acquired under the .com extension, however as other extensions become more popular this provides tremendous opportunity.
For example, a short domain like sidehustles.co could be a top tier domain even though it doesn’t end with .com.
Building A Solid Domain Portfolio
Building a high-quality domain portfolio can take months or years to accomplish. Often, the key is looking forward to what domains may become popular in the future and hedging through numbers by purchasing hundreds of domains. Others choose to purchase a few already high profile domains and sit on them hoping that they appreciate in value.
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Decide On A Pricing Strategy
After researching what your domain might sell for, its time to determine a pricing strategy. Typically, there are two methods to choose from:
- Fixed price. In this pricing strategy, the seller sets a specific price for the domain, and an interested buyer can purchase the domain immediately without negotiating.
- Flexible price. This strategy works better for selling domains with an uncertain value. Youll receive an offer from a potential buyer. Then, you can start negotiating until you reach the desired price.
Lets consider this in practical terms. Assume that you list your domain with a fixed price of $3,000. Buyers who want to acquire the domain cant ask for a lower price.
On the other hand, flexible pricing allows buyers to bargain. Depending on the demand and the negotiation process, they might even pay more than $3,000.
In general, its best to use fixed prices for lower-priced domains and flexible prices when selling a premium domain name.
Tips For Buying And Selling Domain Names For Profit
A domain name is a websites address on the internet. When you type in a domain name into your web browser, it takes you to that website. Domain names are bought and sold every day. Both buying and selling domain names can be profitable if done correctly. There is a lot of money in the industry, but you have to know what youre doing before spending any time or money on it. This blog post will cover tips for buying and selling domain names for profit. Lets take a quick look and understand what a domain name is.
A domain name is a websites address on the internet, also called a Uniform Resource Locator . Human beings can easily remember it through words or phrases. For example, amazon.com, aliexpress.com, etc., are domain names that people use to find products online easily.
A domain name consists of the Top-Level Domain and Second-Level Domains. The TLD part specifies which top-level domain it is registered under, like .com, .org, etc., while the second-level domain specifies the companys name, service, or product. For example, Amazon is a second-level domain while .com is a TLD part of Amazons Domain Name.
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Is Buying And Selling Domain Names Legal
Absolutely! There is nothing wrong with buying and selling domains for a profit. There are many domain flippers who make a full-time income buying and selling domains.
The only legal trouble you could face is if you purchase a domain that is obviously related to a current business.
For example, if for some reason Apple forgot to renew their domain name, I could purchase the name although because of UDRP laws, I could face a legal battle that could cost a fortune.
Ultimately, you won’t face any legal trouble as long as you don’t purchase a domain name that has obviously been copyrighted.
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How Do I Know If My Domain Name Is Valuable
Domains that include highly searched keywords are typically the most valuable. Domains that end in .com are valued considerably higher than those with other extensions. Short domains tend to resell for more than long domains. You can use tools like GoDaddys domain value appraiser to get an idea of what your domain might be worth.
How To Buy A Domain Name
While flipping a new domain name can be very profitable, domain buying and selling takes some steps to do well. And to do right.
Don’t let terms like domain registrar,domain provider, or other similar terms scare you. We’ll walk you through the step by step on how to locate domain names with potentials, buy the right domain names.
And hopefully make some really good money domain flipping.
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Know Your Domains Value
Understanding how to sell a domain name effectively starts with one key piece of knowledge: the domains value. After all, you have to know what buyers are willing to pay in order to set a reasonable price.
There are a few elements to consider that might affect the value of your domain name. Some of these include:
- Length. Domain names under 15 characters tend to be more valuable.
- Keywords. Having relevant terms in the domain name can boost a sites SEO potential.
- Simplicity. Overly complicated names can be difficult for users to remember, thus decreasing their value.
In other words, a short, simple, and specific name will usually fetch a higher price. However, you might want more specifics regarding your domains value. Thats why we recommend using a service such as GoDaddys appraisal tool:
All you have to do is enter your domain name into the box and click onGet Value. Youll see a basic report that looks something like this:
Thats it the program will return a figure based on real-world sales data. Nevertheless, this is still only an estimation. As such, feel free to adjust this number as you see fit .
Knowing the value of your domain name is undeniably useful. However, that alone isnt all you need to get the most out of it. Youll also need to decide on the best sales strategy.
Look For Names That Have Value
Simply put, you want to find domains that would be a valuable asset to your buyer. You want to look for domains that would be an added benefit to the person buying. Try to put yourself in the buyers position.
If you were buying a domain for your business or company or hobby, what would you look for? Is the domain you just bought something that you would actually use? You want to make sure that any domain you buy is actually something valuable to the person buying. Otherwise, it wont be worth anything.
Keep this in mind when searching for domain names to buy and sell. It is also helpful to stick to an area that youre familiar with. If youre a dentist, maybe focus on the dental industry and stay away from the construction industry.
Another idea is to try to snag your local names. For example, if youre in real estate and live in Denver, Colorado, you might look for names like denveraffordableliving.com or denverapartments.com or something similar. It has keywords that lots of people search for, and a new apartment complex might be interested in buying this type of domain.
Remember to ask yourself, what kind of domains are other people in this industry buying? Would you buy this name if you were in that position? How much would this domain help them get found online or give them authority in their industry?
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Manage Your Clients And Sell Domains
Now that your business is running, you need to start managing your customers and selling them domains. WHMCS, a part of InMotion Hostings Reseller Hosting packages, provides an automated solution for client management. It takes care of things like billing, by automatically sending your customers invoices, collecting payments, calculating and deducting taxes, and more.
To make it even better, WHMCS integrates with eNom. That means your domain reselling storefront site can handle the work of check-outs, acquiring the appropriate domain for the customer, and billing them in the future, all without you having to lift a finger.
If that did not sound easy enough, with Reseller Advantage, you can also avoid the initial integration and configuration of your WHMCS and eNom accounts with your storefront site. InMotion Hosting does the work for you, providing you with a storefront site ready to start selling domains within a few business days.
List Domain Name With A For
When someone thinks of a domain name and wants to see if its available, what do they do? They type it into their browser. And if you dont have a crystal clear this domain is for sale message on your domain name and an easy way for a potential buyer to contact you, youre losing out on the biggest opportunity to sell your domain name.
A For-Sale landing page will let any visitor immediately know that your domain name is available for purchase and how to get in touch. There are several ways to create a For-Sale landing page for your domain name.
If you have an existing website you can simply redirect each domain name you own and want to sell to a landing page on that site with an inquiry form. Or you can use a For-Sale landing page from one of the domain marketplace sites such as Sedo or Afternic.
The disadvantage of using those pages is that they often display advertising that can confuse visitors. And when you sell your domain name through a marketplace you have to pay them a commission for the sale, ranging anywhere from 10 up to 30% of the total sales price, even when your buyer came directly through the domains own landing page.
Last but not least, you can use a commission-free, domain name sales platform like Efty. Efty does all the updates, keeps your For-Sale landing pages up and running, and their pages are optimized to help sell domain names.
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Research Buyers Price Range
Buying and selling domain names work like an auction. Youll need to research what potential buyers are willing to pay for similar sites to yours. To get this information, put your names up for sale. Have a reserve price that is the minimum youll accept. Make a sale if your price is met or a higher offer is given.
Ensure The Quality Of Your Domain Name
When assessing a domain, several factors contribute to its value, such as:
- Traffic. People are frequently drawn to domains with pre-existing traffic because they have higher chances of ranking well on search engines. Check out the most effective strategies to drive traffic to increase the market price of your domain.
- Keywords. Keyword-rich domains tend to be more valuable since they can improve a websites SEO and increase click-through rates. Try using and to gauge the popularity of your domains keyword.
- Top-level domain . Domains with solid extensions like .com or .net often cost more in the market due to their higher reputation and credibility.
- Length. Shorter domains are more appealing since they are more concise and easy to remember. Some of the most expensive domain names ever sold contain only five to eight words, such as floor.com, which sold for over $3.1 million.
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Start A Domain Registration Business By Following These 10 Steps:
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your domain registration business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Exploring your options? Check out other small business ideas.
How To Start A Profitable Domain Buying Selling Business
Stephan Monetize.info September 3, 2020Business
The buying and selling of domain names can be a lucrative online business. Several domains have been sold over the years, making for sometimes a hundred times the buying price. In this guide, you will learn how to start a domain brokerage business and how to make it profitable.
Bellow is the top 10 most expensive domain names ever sold:
For instance, a $10 investment on this site led to a sale of $2600. The Joseph Kleitsch oil painting was purchased for around $100 and later appraised at $500,000, according to this Godaddy blog post, which shows that with the right approach, flipping domains can be profitable.
If starting a domain business is something that interests you, heres how you can set up a business in domain-selling at little to no cost. There are many domain brokerage companies that do this already with great success.
Odys.Global is a digital marketing company, which focuses on selling premium domain names. They check the domain marketplaces to find quality domains looking to expire and actively bid on auctions to secure these domains. After they acquire and secure the domains, they recreate the brand and put them for sale.
If you want to find out more about ODYS and their business check our ODYS Global review.
Contents
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What Are Some Skills And Experiences That Will Help You Build A Successful Domain Registration Business
People who are very organized will do well in this business. There will be plenty of details to decide when it comes to structuring domain names, finding the right market, and following the legal regulations associated with domain registration. They should also have a certain amount of tech skills to spot issues with potentially faulty code or to quickly fix any connectivity problems.
Register The Domain Name
Now you should have a good idea of how to value the domain you are interested in.
The next step is to simply buy it and register it.
This can be relatively simple. When you purchase the domain, the service you used to buy the domain from will provide you with the registrar where the domain is hosted.
They will require you to provide your registrar so they can transfer the domain.
There are tons of domain registrars out there. You need to choose a reliable domain registrar that offers good support.
The most popular domain registrars are:
My personal domain is registered on 123Reg which is a reliable domain name registrar based in the UK.
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What Are Some Insider Tips For Jump Starting A Domain Registration Business
Business owners should concentrate on their policies before getting started. From domain transferring to pricing, youâll attract more customers if the policies are as clear as possible before anyone signs up. Thereâs a lot of advice out there about who to sign up with and who to avoid, so make sure youâre giving people plenty of options and being as fair as possible. For example, if a website owner fails to renew their domain name after a year, you may want to keep that domain name off-limits for a month as a courtesy in case the person decides to renew.
Entrepreneurs should also put some extra effort into their customer service response times. Websites by nature are incredibly immediate, and problems can happen at any time. If a person is paying you for their domain name and loses business because there’s a flaw with your equipment, then youâll likely be held responsible for any subsequent loss of revenue to their brand. You may also want to think ahead when it comes to promoting new suffixes. As the .com names continue to diminish, companies may benefit from less popular suffixes with a strong start
How To Make Money With Domain Names
Domain names are hot commodities in today’s tech-centric world. The $16 million sale of ‘insure.com’ to Quinstreet in 2009 may have set the world record, but even lengthier domain names are routinely sold for hundreds of dollars every day. The result is a unique opportunity for investors to invest in domain names that can be sold for a profit in the future.
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