As of this year, over 4.1 million people use the Internet. Buying and selling domain names can earn you a decent profit.
There’s a lot of potential for domain names when it comes to making money and getting traffic. Businesses and individuals are looking for domain names that align with their brand’s purpose.
If you want to know how to flip domain names, there are seven tips you should know:
1. Buying and Selling Domain Names: Think beyond “.com”
Nearly 3/4 of all websites have a “.com” ending. However, you have a lot of options when it comes to different extensions.
There’s a rumor that good domain names ending in “.com” are hard to find. Another rumor is they’re more profitable. Both claims are untrue.
Another good website ending is “.ly”. For instance, Spice.ly is an appealing domain name for a spice company. This extension works well with shorter names.
There are also website extensions that are specific to geographical SEO. For instance, a business in the United States can choose the “.us” extension.
Explore your options. You’ll be surprised with what you’ll find.
2. Find a Lucrative Niche
While you’re building a portfolio of websites you’ve sold, it’s helpful to choose a specific niche. That way, you’ll only have to focus on the SEO dynamics of a single industry.
The niche you select should be in demand. This makes it easier to seek out prospective buyers who are interested in the domain names you have to sell.
Make sure you know about the industry that’s relevant to this market. Specialize in a niche that you already know about.
For instance, you might know a lot about education, food, beauty, or something else. Start there and see where it takes you. Be familiar with hot topics in your chosen field.
You’ll need to know keywords associated with the niche. This can boost your SEO efforts and increase traffic to your site. The more people know about your website, the more potential buyers you’ll get.
3. Choose Hot Keywords
Certain keywords have more SEO value than others. Once you’ve chosen a niche, it’s your job to find the most profitable keywords in that niche.
Pick domain names with popular keywords. The goal is to buy and sell domain names with the hottest keywords. Your domain name can also combine keywords but in a coherent and memorable way.
Make sure you’ve made a sound investment by measuring the number of searches a domain name gets every month. Tools like Google Keyword Planner or Niche Finder Software can help you do this.
Aim for domain names with over 10,000 searches every month to be safe.
Combine hot niche-related keywords with local SEO terms. For instance, you can combine the words “chiropractor” and “New York” to create an appealing domain name.
4. Find Valuable Domain Names
If you want to know how to flip domain names, you need to know how to recognize valuable domain names.
Before you buy a domain name, picture who could use for it.
You can use a site like GoDaddy to determine if domain names are available. If a specific domain name is taken, GoDaddy will also give you similar options to choose from.
Research SEO and be familiar with Google’s SEO standards. If you don’t, you’ll be missing out on a large audience. Read more about it here.
Good domain names are usually easy to remember. It’s easier to do business with a site that’s memorable and not complicated.
Domain names that sound generic are often great for buying and selling. They describe a lot of different products or services.
The more you align a domain name with a brand, the better. This will make a domain name more marketable.
Don’t buy domain names with hyphens or numbers.
5. Make a Budget
If you want to flip domains, you need to know how much you’re willing to spend.
Getting involved with flipping domain names is an investment. How much can you afford to invest in buying/selling domain names? You’ll need to calculate an exact number.
Start off small and work your way up as you gain experience. Don’t blow a bunch of money on a single domain name when you’re just starting out.
Remember, flipping domain names is risky business. There’s a chance you might not sell all of your domain names at a high-profit margin.
Look up domain name prices to get a better idea of what price range you’re looking at.
Domain names can sell anywhere from $10 to thousands of dollars. A domain name might be worth more at one time than it is at another. That’s why this next tip is important:
6. Be Patient
When learning how to buy and sell domain names part-time for profit, you have to be patient. Never sell a domain name right away.
Flipping domain names isn’t fast cash. You have to be willing to wait if you want to make good money.
You’re better off waiting months or years to sell a domain name for a good profit. Selling a domain name as quickly as possible typically results in making less profit.
7. Buy Existing Domain Names
Pre-existing domain names often come with traffic and keywords. That’s better than a site that has neither.
Domain names like this are valuable. Usually, the owner has made their own SEO efforts to the site. That’s less work for you.
Choose domain names with good traffic and plenty of backlinks.
Start Flipping Domain Names Now
There are over 10 million domain names that end in “.org” and counting. The possibilities of buying and selling domain names are endless.
Invest in the Internet and get educated about SEO. You’ll love the results.