- What is a Domain ?
- Why should I use a Domain?
- Why do people sell Domains?
- How to Buy a Domain
- How to Sell a Domain
- Can this make me a full time career
What is a Domain?
A Domain is a little bit like an address: our address lets people know where to post our mail, where we are if in an emergency and so on, a domain is almost the same.
An example of a domain is www.makeansave.wordpress.com, when you click on it, it will take you to the home page of my website.
This domain is not bought as you can see, because of this you can see where the domain was built.
This is a bit like having a house that a company brand and then they won’t get rid of their brand name until you pay them a certain amount of money, luckily domains are cheap!
This an example of a domain that is bought: https://unisexclothes.co.uk/
Why should I use a Domain?
The reason you should use a domain is so that people can remember where your website is.
It is vital that your domain is memorable, otherwise you won’t be able to get people coming back, which is crucial, especially if your domain is for your business.
Why do people sell Domains?
People sell domains because you can buy them for an extremely cheap price.
Then with a bit of knowledge, time, research and luck, that domain could sell for hundreds, thousands or maybe even millions, please note that most domains will only sell for a few hundred usually.
How to Buy a Domain
There are multiple sites to buy a domain on, all you have to do is know which one is right for you. Some examples of these sites would be:
- Google Domains
Which one you choose really depends on your website. A lot of people use BlueHost because it is so cheap and is extremely easy to integrate with WordPress, whereas others can be a bit more complicated!
How to Sell a Domain
Selling a domain is easy, getting someone to buy it is the hard part. There are many places you can sell your domain and some are where you buy them, the most popular places to sell a domain are:
GoDaddy is great because you can buy a domain with them, create a website with that domain and also sell that domain all on GoDaddy, which is why this is one of the best!
Sedo is great because of the security of buying and selling the domains, it is almost impossible for someone to steal your domain (which is possible), as they make you confirm lots of different details to prevent this from happening.
Ebay, this probably isn’t the most popular however it is an extremely good way to find people to sell to and to allow people to bid.
Their are a few people already selling domains on there and their bids are usually quite high because businesses are willing to pay a pricey price for domains as well as some people.
If they think the domain is going to do well in the long run.
An example of how hard it can be to sell a domain name is one that I own right now, https://www.unisexclothes.co.uk/
If you click on this you can see its for sale, a domain that was extremely similar to this, I found sold for £1000.
The best part about no one buying this yet though is that the price of it rises the longer you have it.
Can this make me a full time career
The short answer is probably not.
The long answer is yes, let me explain: imagine you have a job and lets say £500 to spend and you spend them all on domains, but you don’t know if they will sell because you haven’t done research or put the time and effort in to find out more.
Well now you have 50 domains that either won’t sell or will sell for very little, which isn’t a good career and can’t make you a full time income.
In comparison, if you spend let’s say 2-8 hours researching each domain, probably won’t even take as long as that though but, then you could potentially earn a lot of money.
Bear in mind that success with this is not guaranteed and could end up going very badly if you are not careful, my advice would be stick to a budget of £20-£50 which is 2-5 domains, if you are using google domains.
Then research before each domain, then with a bit of luck on one of the websites listed above it should sell!
If you are going to attempt this as a full time career, here are a few tips:
- Research your domain and see if similar past domains have sold for the price you want to get
- Once you have bought a domain, don’t just sell it straight away if you want the big cash, if you want less money but quicker you can try to sell them within maybe a week.
- Research on how to transfer a domain to another person before actually listing a domain
- Don’t just use one platform to sell your domain on, use ALL of them to reach a larger number of people and give you a better chance of selling the domain!
- Make sure to stick to a budget that you can afford, so only start with a few researched domains
- Don’t give up if this isn’t for you!
In this blog you have learnt that a domain is practically an address for your website so people can keep coming back once they know your website exists.
You should use a domain in order to get people to come back to your website, especially if you want repeat customers.
Buying and Selling a domain, both can be complicated but it is much more work to buy one than sell it, especially if you want it to do well when you decide to sell it!
The short answer about making this a full time career is no, the long answer is yes, read above if you haven’t already about this!
What domain will you be selling first?
Domain For Sale Example https://www.unisexclothes.co.uk/