Domain flipping is a big business these days, people are making thousands of dollars by flipping domain names. If you wish to start a domain flipping business, this article will help you to understand how to do it the right way.
In 1990, when the Internet came into popularity, many people rejoiced as it opened gates of opportunities for them. While many people started their website, online stores, and businesses, some were still struggling to get a hold of it.
With the increase in its usage, people began to generate new ideas to earn a living through this medium.
As the time passed, online businesses like social media websites, e-commerce, blogging or other similar websites became quite popular. One significant online business which is one of the most popular among all is Domain Flipping.
Starting a Domain Flipping Business
What is Domain Flipping?
Many people are still unaware of this trendy business. Domain Flipping is the business of buying a domain at a lower cost and selling it at a profitable amount.
It is a simple business which can lend you a lot of revenue without much effort. You can either sell your domain right away, or you can choose to hold it to get higher revenues.
If you are wondering how to start a Domain Flipping business, then here are all the things that you should know before commencing. Firstly, you need to consider some factors which are necessary and will save your time and money.
1. Domain Name
This step is critical of them all. The domain name is your commodity to leverage and sell later. As your client wants a domain name which is easy to remember and brandable. The domain has to be short and straightforward. For example, Google is a domain which is simple and very easy to remember.
2. Special Characters
The inclusion of special characters in a domain is a serious factor that search engines consider while ranking. If the domain has special characters like a hyphen or an underscore, it is likely to be neglected by the search engines while ranking.
So, it is advised not to purchase domains which include any special characters.
Many people make the mistake of getting those domains which infringe the copyright of any other business. These types of domains are decidedly less likely to be sold, but can also cause you some legal trouble.
4. Domain Extensions
Domain extensions play a significant role in the selling of every website. Domain names having .com as extensions are known to be more popular than other domain extensions. The reason for this could the extensive availability of website with the .com extension and people are now used to it.
However, it is not necessary that other domains extensions like. org or .net couldn’t lend you profit. They are also known to be sold at a higher rate, but the probability of selling other domains with .com is less.
All these were the factors which you should consider before buying a domain. Additionally, you need to know about the different types of domain names and extensions which are mentioned below.
Before discussing different domain name types, let us talk about domain extensions.
1. Generic Top-Level Domain Extension (gTLD)
As the name describes, they are the most widely used domain extensions and are used by most far-famed websites. Domain extensions like .com, .org, .net, .gov fall under this category. Moreover, as mentioned earlier, the .com extension is the most popular one and is more likely to be sold effortlessly.
2. Country Code Top-Level Domain Extension (ccTLD)
This domain extension type is also self-explanatory. All the domains which have the country name as an extension of the domain come under ccTLD. Some examples of this type of domain extension are .in for India, .ar for Argentina, .de for Germany, and .us for the United States of America.
3. Modern Top-Level Domain Extensions
More and more new types of domain extensions are coming in the market, and they are named as Modern Top-Level Domain Extensions. Domain extensions like .cloud, .info, .academy comes under this type. They are also known to rank higher in the search engine result pages as they include a keyword.
After knowing different types of domain extensions, you should know about different types of domain names which are mentioned below.
1. Creative Domain Names
Creative and innovative things are known to catch people’s attention, and the same goes with the domain names. The more creative the domain name is, the more likely it is to be remembered by the user. Due to their distinguishing factor, they are easier to remember as well.
However, many people tend to make a mistake of adding extra creativity to the domain, resulting in making it complicated. You need to avoid that scenario and make the domain creative but keeping in mind the remembrance factor.
2. Auctioned Domain Names
Every industry has competition and Domain Flipping is nothing different from those, but it all depends on the business owner that how they tackle the competitors.
The best way to stand with the competitors is by buying the domains which are put on auction by them at cheap rates. If you think that the domain has the potential to be sold at the higher price, then you should buy that domain at cheaper rates and sell it in the future.
3. SEO Friendly Domain Names
The ultimate aim of every website is to rank higher in the search engine result pages and drive as much traffic as possible which can be achieved by Search Engine Optimisation.
Keyword research is the primary thing done for SEO. The same goes for SEO friendly domain names. You need to research thoroughly before selecting these types of domain names and search for all the keywords which are popular and have the potential to drive traffic to the website.
4. Expired Domain Names
Expired Domains are the one which is currently not in use by the owners and are ready to be sold. Expired Domains were live at some point which means that already have traffic and some domain authority.
But, you still need to study about its ranking, traffic, backlinks and other similar things. If you feel that that the domain has the potential and could give you good returns, then you should buy an Expired Domain.
After that you have achieved a domain, it is time to sell it.
There are different ways to sell your obtained domain. Unravelling some of the methods below:
1. Traditional Domain Flipping Method
It is one of the simplest ways of Domain Flipping and is followed by many same professionals. As soon as you obtain a domain, you can put it on the auction on different domain flipping websites and sell it almost instantaneously.
But, the bidders need to know the domain’s true potential, so you need to write an excellent sales presentation for the buyers. This method is quick and can provide you with returns in no time.
2. Optimised Websites Flipping Method
This flipping method is known to give maximum gains, but you need to put in some efforts. All you have to do is get a niche specific domain, work for its optimization, get backlinks, increase organic traffic, a good social media following and other things which could make the website popular and then sell it for maximum returns.
It could consume time and efforts, but the returns you get are surely worth it. Optimized websites need to have an existing revenue stream, and they can be sold at 10X the current revenue.
3. Domain Parking Flipping Method
This process is related to obtaining an expired domain name, or you can even get a new domain, but the motive is to get a domain which gets a lot of traffic.
But, you need to get that domain which is similar to some other reputed website and has some minor differences only. After obtaining these types of domains, you need to put on some advertisements on the website and could sell it to the potential customers.
All the above was the process to start a Domain Flipping business. You can use different tools to select the domain name and make things simpler. Some of the automated domain flipping tools are mentioned below:
NameMesh is one of the most popular domain name generating tools and is quick too. You can check the availability of the domains having .com or other top-level domains and provide you with the best available domain option. Its database has more than six million words and over twenty generators.
Moreover, you can create SEO friendly domains, short domains, and even mix words to make a unique domain.
Another great tool for domain name search is Lean Domain Search. This tool allows you to search all the available domain names related to your word entered. All you have to do is enter a word you want to include in the domain, and the database will show you all the domains available.
This tool allows you to combine two or more words in a domain and displays you all the available domains. You can even put a simple word in the quick search bar and check the availability.
With the guide mentioned above, you will be efficiently establishing your Domain Flipping Business. The key to a successful Domain Flipping Business is choosing the right domain name which could be easily done with the tools mentioned in this article.