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Earning a good profit is the ultimate aim of any business. But many of the business fail due to wrong decision making or improper planning. This too applies for the online businesses. In order to promote their business, a number of traditional businesses are switching to online platforms or to increase the reach of targeted customers. Increase of online platforms has resulted in a spectacular rise in websites, apps or similar other platforms. With an increase in above-mentioned platforms, the necessity of domain name has also increased as it is the one important thing which gives any business online identity. So here comes the business opportunity to buy and sell domain names just by sitting at home.
There are some basic aspects which you should follow before getting started in this business and they are as follows:-
- Domain trademark issues while dealing it.
- From where to buy your domain names.
- Where to sell your domain names
- what should be your selling price
- How to transfer a domain name to a buyer
You might have heard the number of incidents of how a cheaply priced domain name was sold at higher price eg. CarInsurance.com which was sold at whopping $49.7 million in 2000. Wondering how can you do that!
Well, you need to do some initial investments for getting started in the domain business. You should be careful and well planned before buying domains otherwise wrong domains can lead you to waste in time and money
So in order to help you in proper planning for domain buying & selling business here is the list of tips which will surely guide you in the right direction.
1. Look for the names that offer real value to the buyers
2. Checking for domain name availability
3. Estimate the price.
4. Let your domain in the center of the audiences.
Let’s check them in details.
Related:- Things to Keep in Mind While Choosing a Domain Name
1. Look for the names that offer real value to the buyers
The domains which you buy should provide buyer value for their business. The person who will be buying should get benefit from it. Always think like a customer point of view. Means you should consider yourself as a person who needs a domain name and someone is selling it to you. Ask yourself would this domain help you? If yes WHY? and if not so then Why?
Analyze yourself and get answers for the following:-
- What is the profit of margin for the business owner on his products sale?
- How much money they are spending on advertisement?
- What kind of domains similar business are using?
- How much a domain can help their business in creating an online presence?
If you are able to find the solutions for these queries then you will have a brief idea of whom you should contact for selling the domain name and in convincing him that how can this domain will help his business grow.
2. Checking for domain name availability
As of now, you are well aware of which domains you should buy. But the question arises how do you find them? Well, there are number domain registrar available from where you can see if names are available for new registration. You can also for domain name availability on https://hostripples.com/domain-registration.php
You can also filter the domain name based on TLD, pricing, keyword, etc.
If you find that the names are already taken by someone, all you got to do is go after the owner of the domain and convince him to sell you or the ones who have let the domains expire as they no longer plan to use them.
3. Estimate the price:-
Now as you have decided your domain, the major factor comes ‘price’. Think and research yourselves what will be a fair price to pay for this domain? Get help from the previously sold similar domains to know at what price and when was the domains sold?
Use following strategies which will help sell your domain at higher price.
- Price Your Domain: Mention a fix price for your domain when you are not interested in selling it.
- Auctioning: Carefully follow the auction strategy and sell domain to the person who bids higher.
4. Let your domain in the center of the audiences.
There are number of places where you can put your domain name in front of the public for sell.
Look for the placement which is well renowned and have a good reputation in the market. All these things are very important as it will give confidence to you and the buyer that they will get what they are dealing for. Place your domain for sale which has good customer ratings and have good authority in dealing. Considering all these things will make the buyer gain trust and make him comfortable purchasing the domain
Do not focus on selling your domain just for the sake of profit instead look for the potential customer who will benefit from it and then they will pay what you asked. Do not send spammy emails asking them to buy, this will harm your domain value. you can list your domain in popular sites so that it gets displayed in front of millions of potential buyer.
Don’t stop learning in buying and selling domains, each deal will teach you a lesson which will help you overcome in the next deal. Register yourself to forums and webinars which deal with domain buying and selling. Start talking to the persons who are in this business. All these things will make you a smarter investor!
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