Flipping domains for a living is not a novel idea in online income terms. These kinds of transactions have been going on even before sites like Flippa took to the center stage. Without a doubt you can make good income from flipping digital assets; domain names are no exception. I haven’t put together a get-rich scheme. Although as the title indicates, there is great $$$ potential there for those who will commit to the work it entails.
Here is how to start domain flipping as a side hustle. It is possible to do this for a living full-time though. Let’s see how it can be consistently and profitably executed all year round as a reliable source of online income; and eventually a million dollar hobby.
How to Start Domain Flipping as a Beginner
Photo by Matoo.Studio on Unsplash
Domain names are the addresses by which a web browser brings eye balls to a website. They are also usually referred to as URLs. I guess you knew that already 😉 But did you know that you could register a domain name from top domain name providers like Godaddy, NameCheap, and NameSilo and make a profit selling it at higher price than you paid for it? Kinda like flipping properties.
But the top secret here is selling domain names for 5 or 6 figure exit sums. How can this be done? Well, find the coolest and catchy domains that sync with current trends. But those are already taken, you might say. Yep! Buy them for hundreds or even a couple of thousand dollars. Then find the ideal client that will offer you 10X or 50X for them.
List on Flippa in Specific Niches
This is how to start domain flipping. Go to Flippa.com and register for a free account. There are other similar online marketplaces like Flippa, but to get the balling rolling, you’d have to tackle the easiest, and friendliest low hanging fruit first.
It is also important to mention niches. You can list a few domains you already own, if you’ve bought them previously for personal use. Or you could stick to a niche. This will absorb you in all your intel and decision making processes. You don’t have to concern yourself with another industry for that matter. This will certainly make targeting fresh leads a breeze.
You may consider a niche you’re already grounded in, or seek out lucrative sectors like AdTech, FinTech, Crypto, or AI. Other great industries also include: food, travel, health, beauty, and money. This is a handy tip on how to start domain flipping today in an already saturated market place. Be an expert (or pretend to be one) in a single industry. You will gain traction that way going forward.
Offer Free Logos
Freebies always make a great bait to attract new leads. Whether you’re a veteran graphic designer, or you have never used sites like Canva before, offering a logo along with your domain could make your offer more attractive. As you invest in a premium domain, you should also spare a few bucks to have a pro create a nice and catchy brand that appeals to the niche of choice.
If this sounds like a good path on how to start domain flipping, then hire a designer if you have to. Give it a brand appeal and make it standout also as an acquisition potential. Meaning, make it look like a full business that already exists. This trick will make a potential entrepreneur stop to take a second look.
Free logos are just an example. What else could you throw into the deal? Find something of value that you can offer along side it. Find ideas that will cost very little to have a Fiverr specialist perform. Your mission is to make the offer worth as much as you want in $$$.
List on More Sites Like Flippa
So, this is how to start domain flipping on a shoestring budget. You can get on a high traffic website like Flippa; but you should later spread yourself to as many domain flipping portals as possible. Just make sure you don’t break any house rules, or you’ll risk getting de-listed.
Here is my list of Domain Flipping sites worth exploring:
- Flippa
- MicroAcquire
- Empire Flippers
- Fe International
- Quiet Light
- Motion Invest
- Empire Flippers
- Acquisitions Direct
- Website Properties
- Business Exits
- FoundersIB
- Website Closers
Cold Contact your Potential Customers
Listing on those sites above will give you a bit more leverage above the average domain flipper online. But building a shortlist of contacts you can email or call, will put you at the top. As mentioned earlier, you’re better off dealing with one niche at a time, and buying premium priced names.
Contact 50 to 100 people in that niche via cold email or social media. Do this on a weekly or even daily basis is you want to be a Spartan at this stuff. You will get a lot of NOs! This is all part of the process. Your big YES is usually around the corner somewhere. Therefore, set Plan-B goals that factor rejection into your equation.
Build a Mini Marketing Team
If you want to be even more aggressive, you can recruit your own marketing team. This doesn’t need to be complicated. No need for posting job ads to recruit local people in your city. But rather hire Fiverr freelancers who do high-ticket sales pitches via sales calls, or lead generation on your behalf.
This is not your everyday how to start domain flipping tip – I know. You want to begin to move the needle and start selling 6-figure domains. Your first freelancer could be given the task of sending emails to your targeted niches’ mailing list. You just have to sit back and track the conversions and optimize.
Get the Best Mentors on Board
The suggestions and tips above are a good way of how to start domain flipping. But if the ideas mentioned weren’t big enough for you, well here’s the kicker. Contact Dan Lok, that flashy Chinese entrepreneur and YouTube celebrity. He is one of the many online business gurus who are into High-Ticket Sales. He has High-Ticket Sales solutions that will give you tools to be able to sell your million dollar priced domain.
Create a joint-venture project with someone that have compatible business aspirations as you. They may not be people you know in real life; but social media and LinkedIn partners could make beautiful financial music together if you approach them with the right pitch – without sounding too pitchy or salesy.
Create a one-page Business Plan
Now this is how to start domain flipping businesses without leaving any stone unturned. The final thing to do is to create a business plan. You don’t need one? Don’t worry, it’s not for you. Make a one-page pdf business plan for your potential buyer.
This can be added to the free logo idea, and social handles created to match the domain name(s). Your one-page business plan can look like a flyer – showing your potential buyer an example imaginary business that your domain could be suitable for. Show them visually, what their success will look like after buying your domain name with an infographic depiction of their business, project, or hobby in motion.
Going Forward
Not many people start flipping domains this way – unfortunately. And this is probably the reason why many are not seeing much profit or traction in this kind of hustle. If you adopt just half of the ideas presented here, you’ll begin to discover how you could combine them with other existing complementary side hustles. Now you know how to start domain flipping. A good income source worth investing time in. The potential for growth of vast, as well as the achievement of your financial freedom dreams. Start today and press forward with daily minor achievements that will translate into big wins over time.
Given it a try before? Pass your comments below this article. Please share a few tips if you’re a veteran at this game.
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