How Much Does A Domain Name Cost
Before getting started with domain name flipping, youll want to keep in mind your budget. The good news is that registering a domain name can be extremely affordable. You will typically pay anywhere from $10 to $25 per year to register your domain. You can pick up a domain for less than $10 on NameCheap!
Because purchasing a domain is so affordable, domain flipping can be a great side hustle for those without a large amount of money.
How To Sell Your Domains
Have a few domains you want to sell? Perhaps you registered a domain for your next big business idea that didnt pan out. Or, you might be a domain investor that buys domains with the hope of selling them for a profit.
Every month, people sell millions of dollars worth of domain names to businesses wanting to launch a website on these previously-owned domain names.
If you want in on the action, heres an overview of how to sell your domains for profit.
Do I Need A Domain Name
A custom domain name can make your website look professional online. It builds your brand, makes your website more memorable,and helps visitors find you online. With Website.com, you can start with a free website name, and all premium Website.com plansinclude a professional custom domain at no additional charge!
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Its Highly Important To Choose The Right Place To Sell
Although there are so many different places online to sell domain names, its important to stick to the best ones always.
One of my favorites is Flippa. Once you list your domain on Flippa, you may buy some targeted traffic to advertise your domain listing page.
Read Where Should You Start Your Domain Flipping Business?
The above article describes some of the best online platforms to sell a domain name. Hopefully you would make a profitable sale.
But still you should remember to write a great description that focuses on the value of your domain and why someone should purchase it.
Write a description that answers all the questions that an interested buyer might have in mind. Be realistic and dont make false promises.
Visit Flippa and read the descriptions of some of the recently sold domains.
This will help you write your own descriptions.
Selling domain names? Heres a few more domain marketplaces for you.
Afternic
List Your Domain on a Domain Marketplace
Many domain marketplaces attract repeat buyers who search through domain listings each and every day looking to find new domains to add to their domain portfolio. Several marketplaces also utilize domain name distribution networks, allowing them to partner with registrars and increase the visibility of your domain listing around the world.
Sell it at Auction
Similar to eBay, these sites let you create a domain listing, minimum opening bid, and reserve price. Some even allow you to set a buy-now price.
Flippa
Use An Appraisal Service
A domain appraisal service is exactly what it sounds like. Its a website that enables you to find information about your domain, helping you estimate its value and compare it to similar names.
This kind of service will do a lot of the hard work for you. It automatically compares your domain against similar names and collects information about what those other domains sold for. It will also measure your domains worth, based on many of the factors we outlined previously. If youre serious about putting an estimated price on your domain, this is one of the easiest methods for getting an educated answer.
While there are many appraisal sites you can use, were going to look specifically at one of the most well-known. Say hello to EstiBot.
EstiBot is the most widely used domain appraisal tool, with over two million appraisals performed on a daily basis. To try it for yourself, you can start by entering the domain you want to check in the field on the homepage and clicking Appraise.
At that point, you should be presented with a report on the specified domain.
At the top of the page, youll see the estimated value and some basic information about the domain. However, if you scroll down, youll find more details regarding how EstiBot arrived at this value. For instance, you can see the total amounts that similar domains sold for.
You can also view a huge amount of statistics and analytics for the domain, giving you an even clearer picture of its ultimate worth.
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Find Strong Domain Names To Sell
The first step in flipping a domain is to find the right domain. This can take hours of research and some good old fashioned luck.
To find a domain name, go to any domain registrar and search based on topics you think would be a good candidate.
Some domain flippers have software that helps to analyze a domain name to lessen the time it takes to vet a domain.
Once youve found a good domain name, purchase it with a registrar. It typically costs around $10 annually to keep a domain. Not sure if your domain is a good candidate? Dont worry, Ill help you decide below.
Looking to make more money? Check out my complete post on making money online for beginners!
Related: Best Items to Flip
Why Does My Business Need A Website
Today, 91% of consumers look online to search for goods or services, and 84% view a business with a website as more credible.Owning a website is crucial for small business owners in order to gain credibility and get found by both new and existing customers.
With Website.com, we provide the tools to publish your online presence as fast as possible.
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How To Buy And Sell Domain On Afternic
To buy a domain on Afternic, perform a domain search on its inventory of nearly six million premium domain names. Domains with listed prices can be bought easily by placing the domain in your shopping cart and completing your purchase. For domains without a listed price, or if you want to negotiate the price, you can reach their experienced sales team with its online price request or on the phone .
Selling domains on Afternic is easy. Follow these steps to list your domains for sale, and watch the power of the Afternic marketplace work for you:
| $4,000 +10% of amount over $25k |
Set Up A Merchant Account
To sell products online, you need a way to accept payments. A merchant account is a business bank account that enables the processing of credit card payments. Any merchant account you create will charge fees for the payments you process, but the specific fee structures they offer vary.
In most cases, you can expect to pay a fee for each transaction as well as a percentage of the amount charged. You may also encounter monthly fees, setup fees, statement fees and others. This is one of the costs of doing business online and should be factored into any business budget.
You have to spend something to accept payment, but do spend some time researching the different payment options available so you dont end up spending more than necessary.
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Can Someone Make A Website For Me
The Website.com website builder is easy to use, and is great for a DIY approach. If you would rather have someone create your websitefor you, we can take care of it! Our Website.com designers offer web design and marketing services so you can focus on your business.Your website will be published on the website builder, allowing you to easily make future tweaks to your design at no additional designcharge. Or, feel free to reach out to our team if you need design services after launch.
How To Sell Your Website: Figuring Out Its Worth
A key part of figuring out how to sell a website is figuring out to price it. Like in real estate, theres a sweet spot when it comes to pricing. If you set your sites price too high, buyers will stay away.
Set the price too low and youre more likely to get a sale. But youll miss out on the actual value of your site. You dont want to put in the effort to optimize your sites worth only to sell it for a bargain-basement price.
How do you price a website? You need to look at its actual profits and its potential to keep earning profits going forward. The price of your website shouldnt be based on what you pay for hosting and the domain name, but on what the site gives to its new owner.
Most website sells for anywhere from six to 10 times their profit each month. If your site brings in a monthly profit of $1,000, you can expect to sell it for $6,000 to $10,000.
A site that has a particularly big potential for long term growth can fetch a higher price. A website that looks like a safe bet to a buyer can also go for a higher amount than a site that has a higher risk of not earning additional profits.
If you arent sure how to value your website, a value calculator can give you a good estimate. Many calculators look at website traffic, potential and actual revenue, and website ranking to assign a price tag to a site.
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Domain Trading: How Can You Make Money With Domains
If you choose the right domain name, it can be worth a lot of money. It doesnt matter what kind of website you have published at the web address. In principle, you dont even need a website to start actively domain trading, since the address itself is the thing with value. If you own a domain that others are keen to claim, you could even make a fortune with it. But how? What do you need to do to sell a domain?
Register a domain name
Build your brand on a great domain, including SSL and a personal consultant!
Private registration
The Harsh Truth About Selling Domain Names
Lets begin with two important things you need to understand and accept :
Most of your domain names are probably un-sellable.
Before I dive into how you can boost your domain sales, its time for a reality check. The number one impediment to what is referred to as secondary market domain name sales is the quality or lack thereof of the inventory.
In general, the kind of inventory that sells best in todays world is one-word, two-word, and sometimes three-word English language .com domain names that directly relate to popular business products or services.
If you are holding non .com inventory , or domains that consist of invented words, or are phrases, be prepared for the sad probability that this inventory will not sell in your lifetime.
Of course there are going to be exceptions to this, but they are, by their very nature, exceptions. The cold, hard reality is that secondary market domain names are not very liquid assets. This probably means that most of your inventory is not going to sell. Ever.
Its still a horrendously inefficient market.
Most end user buyers dont know where to look for secondary market domain names. They dont know how to contact the owners, nor do they have any idea of how to actually purchase and transfer a domain name. As a result, they become generally confused and frustrated by the whole process.
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Determine The Value Of Your Domain
The first thing youll need to do is properly price your domain. A lot of people end up overpricing their domains and wonder why they never have any interest. Just because youve owned a domain for a while doesnt mean that it has any inherent value.
For example
- Is your domain a .com, or does it have some other random suffix? A .com domain will carry a higher price.
- Is your domain name short? Or does it contain a lot of words? Shorter domains tend to sell for a lot more.
- Is your domain easy to spell? Or have a common abbreviation? Domain names that include common words or regular abbreviations will fetch a higher price.
- Do you have hyphens or other elements in your domain? Domains that contain fewer words , and dont include hyphens will sell for much more.
Spend time researching what other related domains have sold for. You can use the tool Namebio to determine what other similar domains have sold for.
There are a variety of online estimation tools you can use, but these dont tend to give very accurate quotes. You can use them as a general indicator, but not as a true measure of value.
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Registering Or Squatting Domains Is Not Unethical
Another point of concern is that many people feel that squatting or registering domains is unethical. This is because many web developers have a hard time finding relevant domain names for their projects since most of them have already been registered. Many corporate giants also frown upon the domain flipping industry because many domain names relevant to them are already registered.
However, domain flipping is legal because buying domain names has been a legal practice ever since the internet came into being in the 90s. Treat domain names as real estate property sold in the offline world.
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Consider Turning Your Domain Into A Profitable Website
Sometimes you might come across a domain that is a great option to build a profitable website on and instead of flipping it, you can choose to build a business out of it.
Whether your goal is to start a blog, build an e-commerce business, or grow various other types of websites, it’s important to remember that it’s okay to NOT flip a domain just because it may be profitable. You may have the possibility of making significantly more money by keeping the domain and growing a business with it. Once your business and website have grown, then you could consider selling it to cash in on your efforts.