If you’ve heard of domaining, it likely sounds like an excellent way to make extra money. For the uninitiated, domaining is when you purchase an internet domain name and then sell it to an interested buyer at a profit. You stand to make anywhere from a few dollars to thousands of dollars on the sale, depending on who you’re selling to, how badly they want that specific domain name, and how much they can afford to pay for it.
For those who want to become domain investors but haven’t yet gotten started, it can be confusing to know where to begin. Here are two strategies to help kick off your career in domaining.
Create Exciting New Domain Names
Pay attention to emerging trends, activities, diets, types of products – anything that could result in the need for a particular domain name. A company concerned with helping lost pet owners may be interested in purchasing www.thegpsdogcollar.com for a brand-new product. Get creative with your ideas; even if one variation of a name is taken, there may be others available. Make sure not to copy existing companies or brand or create domain names that sound eerily similar to ones already up and running; this is known as cybersquatting and it’s illegal.
Buy Expired Domain Names
Sometimes people buy a domain name for a time and when things don’t work out, they drop it and move on. This provides a great opportunity for you to purchase that domain name and market it to someone else with a similar idea. This costs a bit more money than creating your own domain names, but it’s an excellent way to add some very exciting options to your collection.
Are you ready to get started with domaining? If you’ve got a computer and a few bucks to spend, what are you waiting for?