Buy and sell domain names.
If you’re good at finding popular yet undiscovered domain names, you can make some cash on the side by buying and reselling websites. Think of it as digital real estate speculation.
Domains are available on GoDaddy.com for as little as $2.99 per year, but are sometimes resold at far higher prices: According to Business Insider, the site MM.com sold for $1.2 million dollars in 2014. Once you find the perfect domain name to resell, you can market it on Flippa.com for a flat fee.
Buying and selling domain names is an exciting adventure that for some seems to conjure up images of finding hidden pirate treasure or guessing the winning combination on the next Powerball. Stories abound of domains that were purchased for $8 dollars 15 years ago being sold today for millions. Of course, that leads the more adventurous of us to wonder, “How can I do that?”
Well, the ocean is big. Your likelihood of cashing in on the motherlode is low, and you’re liable to waste a lot of time and money chasing after the wrong ships. You need a map or some other advantage to guide you toward that elusive booty.
These five tried-and-true tips for buying and selling domain names for a profit can navigate you to becoming an expert.
Here are some tips to get you pointed in the right direction when trying to buy or sell a domain name for profit:
- Narrow your focus.
- Find names that offer real value.
- Check domain availability.
- Evaluate the price.
- Get your domains front and center.
There are millions of domains already registered by someone and endless combinations of available domains to register — especially when you consider the hundreds of new domain name extensions like .app and .club.
You can check the strength of a keyword by using tools like Google Trends and Keyword Planner.