Are you interested to know about domain flipping? Are you looking for making money by buying and selling domains? If yes, read this post to learn about domain flipping and how to make money online by buying and selling domain names.
Before jumping into the domain flipping business plan guide, let us first understand what actually is domain flipping all about?
What is Domain Flipping?
Domain flipping is all about buying and selling domains(preferably .com domain) for profit. Since 2013, more than 200 million domain names have been registered. You will be surprised to know that a lot of these domains are still to be used. Most of these domain names are registered by domain flippers. They resell the domains to new buyers who are looking to buy those registered domains.
It is learned that domain names like Hotel.com and Business.com have been reportedly sold for $11 million and $7 million respectively. Probably, making such money is indeed a million event. However, there is a good possibility of making good money if you choose to buy and sell domains as a part-time business.
If you are a beginner in this field, my advice would be to start with a small investment. You gain the required expertise in the field while investing as a newbie.
Domain Flipping Business Plan Guide for Beginners
Do Extensive Research Before Buying a Domain Name
To be successful in the domain flipping business, the single most important aspect is to select a domain name and buy it. Most newbies often buy domain names randomly. It is a big mistake. It will lead to nowhere in the long term and chances are that you incur losses. You must conduct thorough research before buying one.
Experts suggest buying .com domain names as they are most powerful and good for SEO. However, nowadays, .net, .org extensions are becoming popular too. In any case, you must have a properly planned domain buying strategy.
Learn How to Buy a Domain Name?
Firstly set your budget. The successful domain flippers advise you to start with a small investment. You can go for a bigger investment as you gain more experience.
Secondly, always buy a domain name from the seller’s point of view. Do remember, you are being the domain for customers in advance. And customers will only buy those domains that can help them to generate revenues.
For a beginner, it is safe to buy an exact match domain. In addition, try to buy some old-age domain names too. You will find a lot of old-aged domains for sale in domain selling sites like Namecheap. Find the one which you feel is saleable. While deciding, do some research on the SEO aspect of the domain name. Furthermore, check traffic, page rank, the number of backlinks, etc before buying the chosen domain.
Steps to Follow to Buy a Domain Name for Domain Flipping Business
If you are a beginner and not interested to take many risks, it is advised to buy exact match domains as said earlier too.
But what are exact match domains? Exact match domains are those domains that have the desired keyword in the domain name. For example, after research, you find aquaponics business has a good online search. In this case, if you book a domain name with a name like youraquaponicsbusiness.com, the chances are that you rank better in google search results with little SEO effort.
So, the next obvious question that must be coming to your mind is how to find those domains? Below find the exact steps to follow to find exact match domains:
- Visit keyword planner by Google.
- Enter the desired keyword.
- Download all the keywords found in excel with the number of searches.
- Remove the spaces and save them again in excel
- Go to Namecheap and put those keywords on the beast mode
- Select the one that makes you feel is a profitable domain name. Buy them as per your budget.
Where to Sell the Domain
You can go to internet marketing forums like WarriorForum, BlackhatWorld, DigitalPoint, etc, and open a sales thread. In addition to this, there are many places where you can sell the domain. Let us provide you with some popular domain selling platforms below:
There are plenty more sites that deal with domain flipping. You just need to do some research and find a place where you feel comfortable.
Best Way to Start a Domin Flipping Business
Entrepreneurs not looking for a long-term domain flipping business may skip this chapter. This chapter is more those only looking forward to a sustainable and profitable domain flipping business that can give continuous profit.
If you are serious and want to make good money in the domain flipping business, the best way is o create a marketplace. Create a website with WordPress with minimal investment with Woocommerce. Also, create some affiliate sites with the domain name you have already purchased. List all of them on your website. Fix pricing for those websites. There is a big audience searching online to buy readymade exact match domain websites.
You can also list those websites in places like Flippa.com, Sedo.com, and a number of other legitimate website flipping marketplaces.
Finally, we recommend you think of domain flipping as more of an investment business. This business is not a get quick rich cash scheme. Because Just like any other field of business, you need to gain experience to be a successful domain flipper.
We hope, this post gives you a basic understanding of the domain flipping business. Start with a small budget and learn the tricks of the trade before jumping into the big league. You need to put in a little effort and you will start earning a profit sooner or later. We welcome you in the domain flipping business and best wishes.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.