Do you want to make money flipping domains? Domain name flipping is the process that is used to describe the buying and selling of domain names. The process is so simple that just about anyone can do it. Most flippers opt for a third party listing website such as the Epik Marketplace, but you can easily maximize your profits by convincing someone to buy, but how?
The first step in convincing someone to buy your domain name is to make sure it is worth the money. Never just create a domain name by typing a bunch of letters. Domain names that sell are those that are short, easy to read, make sense, contain a popular keyword or keyword phrase, and those that are in demand. If you just carelessly create domain names, opt for a third party listing website where you may be lucky to make $50. If you are serious about flipping domain names for a large profit, please continue reading on.
As previously stated, you need to have a good domain name to flip. When buying that domain name, first think of someone to sell it to. For example, do you have a lot of plumbers in your area who don’t have online websites? If so, start buying domain names that contain their business name or slight variations of it. When tailoring domain name buying to a specific buyer, it is easier for you to make a profit.
So, you created the domain name of Davesplumbing.com. Great, but what is next? If a business is established and has been operating for years, they may not contact you. This is because some feel they do not need a website. Unfortunately, this is a costly mistake. Many consumers are using the internet to find local businesses, including plumbers. This can be a part of your sales pitch.
The first step in convincing someone to buy your for sale domain name is to convenience them that they need a website. When targeting business owners, state the fact that many consumers now use the internet to research local businesses. Say that adding information about the plumbing business and pictures of employees will give consumers peace of mind. They aren’t just hiring anyone to come inside their home. For retail storeowners, emphasize the fact that products can be sold online too.
Once you are able to convince a business owner that they need a website, you need to convince them to purchase your domain name. This can be tricky. For starters, consider business profits. A company that just laid off ten workers, likely isn’t going to be able to pay $50,000 for a domain name. If you created a domain name specifically for the pitch, set the amount at a reasonable price, such as $2,000. If you were able to score an unregistered name for $10, you still make a profit. This is a win win situation for everyone involved.
If you decide to target local business owners and agree to lower your asking price to meet their needs, buy as many domains as possible. To maximize your profits, sell many. Instead of spending 5 days arguing with a business owner to buy your domain name for $50,000, spend one day targeting business a few owners. Even if you sell for $10,000 each, you make the same amount of money and in the same amount of time.