Domain flipping refers to the practice of buying website domains and then selling them with a profit. When done properly, domain flipping can be a very fulfilling and rewarding business. Domain names such as hotels.com, business.com and sex.com were sold for thousands of dollars. Though you might not make this much money initially, you will be able to increase your income gradually as you get more experienced.
Here are some strategies that will help you make the most of domain flipping:
See also: Pros and Cons of Selling Your Site
1. Choose the right keywords
You need to ensure that your domain name has the right keywords for the industry you are targeting. This will enhance its search engine ranking, thus making it easier for people to find it on Google. For instance, a domain like seattlepizzadelivery.com is likely to be ranked high for the keywords ‘Seattle pizza delivery’. Visit domain registrars such as GoDaddy and Namecheap, and explore several domain names which businesses in your area would find valuable. Buy a few of these domains and then start getting in touch with establishments which would be interested in them.
2. Don’t rush into selling
Though it is possible to flip a domain name within a few days, some may take weeks, months, or even years. Therefore, you need to be ready to hold on to a domain name for some time before selling it for what it is worth. This should especially be the case for domain names which are valuable to small niches. Having a long-term strategy can result in much greater profits. Instead of selling the domain for a few hundreds in days, it would be better to wait a few years and sell it for thousands of dollars.
3. Look for high page rank (PR) expired domains
Though some people say page rank is dead, Google still considers PR in determining its search engine results. Therefore, while buying new domain names, you should also look for expired domains with good page ranks. Such domains might also come with a good number of quality backlinks. To find expired domains, you can either check with domain registrars or auction websites such as Sedo, Flippa, and WebsiteBroker. Alternatively, you could simply Google the term ‘expired domains’. Though finding such domains can be a time-consuming exercise, it can turn out to be immensely profitable.
4. Focus on your area of expertise
When buying a domain name, you need to consider your area of expertise. For instance, you might have a good understanding of a niche such as fishing, soccer, music, landscaping, or real estate. It would be advisable to look for domain names with keywords which are associated with your niche. When you are an expert in a field, you will be able to choose valuable keywords. In addition, you will find it easy to pitch such domain names to prospective buyers.
5. Think of alternative top level domains (TLDs)
For a long time, many domain extensions such as .org, .net and .com were considered valuable. Nowadays, however, alternative extensions such as .io, .us and .ca are gaining popularity. Therefore, don’t ignore any good domain just because of its extension. It might just turn out to be your best investment ever.
6. Flip websites
At times, a domain becomes far more valuable when it comes along with a great website. Such a domain would be especially appealing to buyers if it has significant and traffic, and is generating some income. Therefore, when you buy a domain, consider building a website around it. This could double or even triple its value.
See also: How to Get the Right Domain Name
Flipping domain names is not very complicated. Keep the factors above in mind and you could be smiling all the way to the bank.
Do you currently flip domain names, or have you done so in the past? Share your success stories with us in the comments section below!