I love researching ways for making money online. Especially where there’s proof of people already earning big time from tasks that are quick to apply and can make money within days and continue bringing home the bacon for years to come.
Even better for my readers is the fact I am operating some of these ideas myself, and generating steady income or fully expecting to be in profit a few days or weeks from now.
Today’s idea involves selling domain names and websites. This is a very big business, with thousands of big name players with very deep pockets are dominating the market.
The good news of us is that they are only dominating part of the market.
That’s because the big boys and girls tend to focus on .com domain names and want to earn substantial profits just by holding on to a domain name until someone likes it enough to pay a huge price.
Those big players are much less interested in .co.uk domains and many other suffixes, and they are not inclined to add content to a website attached to the domain just to make an extra few hundred or several thousand pounds pure profit a couple of months later.
What I’ve learned about Unusual Domains
Here is proof of high prices paid for .co.uk domain names and websites aged two or three years and some just one or two weeks old:
www.StudyingLaw.co.uk – 3 years old – sold for $5,725 (about £4,465.33)
www.TimesNews.co.uk – 3 years old – sold for $5,500 (about £4,289.84)
www.hoverboardsworld.co.uk – new site (‘new’ frequently describes domains and sites less than one year old) – sold for $2,750 (about £2,144.92)
If .com domains take your fancy, but long and arduous hard work does not, take a look at prices paid recently at Flippa for fairly new .com domain names with their own websites:
www.trendyresumes.com – 2 years old – fetched $70,000 (about £54,597.93)
www.pedal.com – new site – fetched $50,000 (about £38,998.52)
Almost certainly the one word domain attracted the high price paid.
www.BabyClothesNZ.com – new site – fetched $23,500 (about £18,329.30)
And so it goes for many not so unusual domain names, some lacking their own long term websites, and still attracting five or six figure sums for just a few weeks’ work and less than twenty pounds investment.
That got me to wondering why some newly registered domain names with or without a site fetched such high prices and whether any common patterns account for the heaviest bidder numbers and highest resale prices.
This is what I discovered:
• .com names fetch the highest prices, but unregistered .com domains, preferably just one or two words, are becoming quite rare and prices paid on the secondary market are rising rapidly and falling outside the scope of most small investors.
Here’s how to make a good living selling .com domains and websites without heavy investment:
(i) Coined Names: Follow a growing number of domain name and website flippers using coined – made up – words with no obvious literal meaning, such as FaceBook and Tumblr, or based on acronyms where each letter in the domain name is the initial letter of a relevant word, such as IKEA (IngvarKamprad (founder) Elmtaryd (childhood home), Agunnaryd (where Kamprad lives) and Geico (Government Employees Insurance Company).
Work towards a domain name that’s short, catchy and memorable, all of which can generate heavy traffic and help the site go viral. And attract a high resale price!
Learn more about coined words and how to coin your own at:
For more ideas key ‘coined business names’ into the search box atGoogle.com.
Create your own business and domain name acronyms at:
(ii) Choose .co.uk domain names offered with a free website. At GoDaddy, for example, you pay as little as twelve pounds for a domain name, website and email for the first year, during which time you develop the site, generate traffic and income and sell the site and its domain name for several times your overall investment.
So you pay the twelve pounds – you have to pay upfront – after which you spend two or three days adding articles and driving free traffic to the site, and then you wait two months or so until traffic and income show signs of further growth.
That is when you sell your domain name and website ensemble for four or five hundred pounds and hopefully much more.
• Websites generating passive income tend to fetch greater multiples – that is, the number of times the selling price exceeds the cost of acquiring and building and promoting the site – than others requiring ongoing time and effort to continue generating income.
Passive income describes the likes of websites earning affiliate commissions from articles placed on the site or promoting digital products through Kindle and Etsy, and using numerous other techniques and promotional platforms.
Not quite so passive, but still involving minimum time and effort, as well as attracting some of the highest resale prices are websites selling products via FBA – Fulfilment by Amazon.
• Visit Flippa every day to study trends and selling prices, as well as developing inside knowledge of the highest priced sites, such as when they came into being, what website building platform was used, how they drive traffic, and more.
Then use what you learn to build and monetise and ultimately sell sites based on subjects and features matching those currently fetching the highest resale prices.
Flippa offers a detailed guide to designing and selling websites which you can download free of charge at: http://www.flippa.com/guides
• It isn’t just professionally created websites that attract high resale prices, as testified by http://www.algarveflat.com which sold for close on half a million dollars at Flippa. Look inside the listing at Flippa and you will see the site was created using free and optional paid for tools at Wix – http://www.wix.com – where stunningly beautiful sites can be built in minutes using simple point and drag software. Wix is also free to use as long as you don’t mind the company hosting its own advertisements on your site. When time comes to sell, you change to a paid for premium subscription and the Wix ads disappear.
Go try that idea right away and in future issues, starting a few weeks from now, I’ll tell you about promoting digital products at Etsy, selling digital subscriptions at Amazon, and how to make double figure profits from each of your own t-shirt designs at Amazon Merch.