There are new businesses is starting almost every day in different corners of the world and a majority of these businesses are online.
The reason more and more people are starting their business online is that you don’t need a lot of money to get started.
the only thing you need to start a business online is a website and you can get a website easily for less than $100 these days.
The website includes a Domain name and Hosting provider.
but unlike other brick-and-mortar businesses you just name your store whatever you like and the name you want for your online store (Domain Name) isn’t always available.
and as the name has already been taken businesses who want that particular name desperately, are willing to pay thousands of dollars to acquire the name.
This is one of the best ways to make a lot of money by investing as little as $9 for one domain name there are even domains like .xyz, .info, .shop which can be bought for just 1$.
For instance, someone recently bought a domain name called oled.com for 9$ and sold it for 54,000$.
Even the world-famous company Tesla bought the domain name for 70,000$.
This should give you an idea of how powerful domain flipping is and how much potential it holds.
There are literally 3 steps to get started.
Step 1: Think Of A Profitable Name
Get your dictionary out and open up all the news websites that you could find because that is what will get you a profitable name which can sell well.
Usually, a domain name is mostly related to a certain niche or a certain topic which the business owner wants to create products or content around.
For eg., Dirtbikeplanet.com creates and sells stuff related to Dirt Bike. Dollarsprout.com and moneyphantry.com creates content related to money and finance.
You can even search for the latest technology and get a domain (if available) related to that just like the oled.com
This is the most though process as you need to work your brain a lot.
You even have to keep on checking if the name you are thinking of is even available or not just to be sure as you will find most of the domain name ending with .com are already taken.
Step 2: Buy the Domain Name
Once you have a name that you think is perfect for flipping then it’s time to buy it.
The buying process is pretty simple and it’s just like any other E-Commerce store, add the domain name to your cart enter your card details and click buy now.
There are various different domain name providers like godaddy.com, bigrock.com and many such companies and it’s up to you to decide which one you want to go with but the best and cheapest which I found online is namecheap.com.
they have one of the lowest-priced domain names and hosting which is perfect for domain flipping.
The even have alternate extensions other than .com like .co.in, .uk, .net, .io, .xyz and many more.
Step 3: List The Domain On Flippa
After getting your domain next step is to list it on buy and sell websites like flippa.com.
while listing they will ask you if you want to put it up for a fixed price or list it for auction.
It’s completely up to you to decide what should be the best option.
From what I have seen most of the people are listing their domains for auction which might be the best bet as you can also put an asking price so that if anyone wants to buy it directly without auctioning they can do so.
A bunch of other websites like GoDaddy, namecheap, bigrock also have their own flipping subsites which directly connects you with the buyer if they are searching for the same domain on their website.
If you get a buyer the website which you list the domain on will keep a small cut from the price so keep that in mind while listing your prices.
From what I have seen you’ll need to buy more than one domain names and out of those only a few will get you in profit.
This means you’ll need to spend 100s of dollars buying different domain names which could be a lot of money for some but if you get even one sale you can easily make a profit.
Although there are several businesses which you can start from home with little to no investment but those businesses requires a lot of patience.
To get more sales you can work on the sites for a bit and then sell them at a high price which businesses owners would love to buy as they are getting everything done already.
It doesn’t matter if you have a lot of visitors to your site or not if you have content on your website the price automatically rises up.