Do you want to make money online? If so, an easy way is with domain name flipping. With domain name flipping, you buy a domain name and then resell it for more. Domain name flipping is a great way to make money online, but it is not the only thing you can flip. You can also flip a turnkey website. So, which approach is best? To determine your best course of action, examine the pros and cons.
Whether you want to flip a domain name or sell a turnkey website, you need a domain name. There is not a way around buying one. Luckily, this is very easy and cheap. Many websites have domain names available for sale. If you opt for an unregistered domain name from a well-known company, like Namecheap or Domain.com, you should pay around $10.
In terms of making money, each option has its pros and cons. For example, domain names aren’t always easy to flip. Business owners who want to buy it sometimes approach owners, but most need to independently sell online. Unless you rely on free methods, this can get costly. A third party website will charge you a fee. That fee may be a monthly listing fee or a percentage from each sale. Either way, do not spend too much money, as it will cut into your profits.
With a turnkey website, you have even more expenses. Not only do you need a domain name, but a web hosting package. Since you intend to sell, do not spend a lot of money. Limit your business expenses. Go with a very cheap package plan. It should be just enough to get a few pages of content and pictures on your website. When your intent is to resell, never pay $20 or more a month for web hosting, as it can be found cheaper.
In keeping with the creation and selling of a turnkey website, it usually costs money to sell. As previously stated, you can sell a domain name on a third party website. Most also allow the same of turnkey websites. The same fees apply, but they may be higher. To reduce costs, look for alternatives. Advertise a for sale turnkey website in a free online classified ad, like on Craigslist.org, in an internet marketing forum, and have a bold for sale message on your website.
In terms of your profits with domain name flipping, you may find a small buying pool. Not many people realize the importance of having an online website, so your targeted market is small. Your buyers will depend. Most often, if you list on a third party website, someone wants to resell your domain name for even more. That person is also a flipper. As long as you make a sale and get your asking price, take the deal.
Another way to make money with domain name flipping is to wait for someone, like a business owner to approach you. This is hit or miss and you may wait a year or more. With that said, this is the best way to score a huge profit. The selling prices increases when in demand.
As previously stated, you can list a domain name for sale on a third party website or wait. Your decision will impact how long you wait for profits. With a turnkey website, after completion they are ready for sale and immediate use. A sale, however, isn’t guaranteed. Buyers want proof that they can make money with a website. If you have the time and knowledge, do some marketing and place ads on the website. If you can show that your turnkey website can make money, you will get more.
In short, both the selling of a turnkey website and the flipping of a domain name have their pros and cons. If you are serious about making money online, try both. With low-start up costs, you have nothing to lose.