Follow on Facebook
Follow on TwitterWhile I’ve been involved with various internet businesses over the years I’ve never really gotten into the domaining scene, but Scott over at Self Made Minds suggest that it presents a great internet business opportunity for someone with the right vision and drive.
He compares the current main player Sedo to an estate agent, saying:
If all an estate agent did was put a tiny bit of cardboard on their window saying that your house was for sale would you feel they did their job properly?
I have to agree, The only time I’ve ever come across Sedo is providing parking on domains I’ve been interested in for a project, it’s always seemed to me to be pretty much the cardboard notice in the window that Scott suggests. He goes on to say:
If you could take a great domain and actually go out there and find a buyer – that could be worth thousands of pounds or dollars per deal just to the broker, if someone started today they could have a very large business within 12 months, all you need is to be dedicated, inventive oh and active!
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I’d love a successful broker to take and find an end user for and there are a lot more people with a lot better domains that would be happy to pay a ‘real broker’ 20-30% if they came with a successful track record.
When you consider that good domains sell for anything from a few hundred to a few million dollars then 20-30% is potentially quite a fee to be earning! Add to that if you started the business as a joint venture with a solicitors firm you could also provide the legal documents and offer escrow services as addons.
Getting going wouldn’t be hard either, all you need is an email account and sometime. Then join forums such as AcornDomains and start networking with potential buyers and sellers to find out what they have to offer and what they are looking for. Then it’s just a case of making those matches. The more contacts you develop the more matches you’ll potentially be able to make. On top of that you should be looking for opportunities for each domain that you know is available, for example Scott has code.co.uk and a bunch of software programmers for example might be interested in it so you could look for places to network with programmers etc.
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This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
I’m no professional domain reseller. But it’s not hard to do.
As this post says; you just have to have the drive and enthusiasm to make money from it.
You make as much as you work.
As with many jobs, the harder the work the more you make.
It’s good fun. Sometimes the people you sell domains to are very friendly and decide to tell other potential clients who they know about you.
Enjoy.
It’s not a business I’ve tried, but I think I might have a little dabble soon – although the best opportunities went years ago.
Agreed. The best potentially successful domain are pretty much taken now.
You have to be very innovative these days to catch a good one.
Sometimes it will take a year to sell a domain.
The trick is to remember that buying domains only costs you (on average) £3 per year.
Most of the time you’ll sell a domain for £50-£200. You can get lucky and get a bit more for them. You’ll very rarely get anything more than £1000 for a single domain.
If any readers have any interest I’d be willing to give you a few pointers…
… in return for some Graphic Design work. I’m bored and need something to do!
Oh, and in respsonse to your comment John.
The BEST, as in absolute best, opportunities have gone.
One good way is to spot a new business that appears that it’ll have a good future market share. Then work on domain names for them.
Like with IBM. When the internet first came out, it was well known but not used that much. At this time IBM were HUUUGE. Someone bought IBM.com and IBM.co.uk, then when they got around to going Netwise, the domains were taken. So they bought them…. for over £2,000,000 each.
You have to be sly to make it as a full-time broker. And overly determined, or stupid.
Tom,
Why not write me a guest post on the topic then? I don’t do graphic design (I’m rubbish at it) but it’ll get you a link.
What do you mean by “guest post”?
Whatever you meant, I’ll probably be happy to do it.
When I say “in return for Graphic Design work” I mean Graphic Design work for me to do.
Tom,
A guest post is a post on this blog written by someone else (i.e. you) rather than me. Basically I was suggesting you write an article about your experiences as a domain name trader for me.
I have some guidance on guest posting that explains more.
Very nice post.
I brought a domain 2 months ago and sold it two days ago for £1200. It is a great business to get into!
This sounds good.where can I go to purchase or sell a domain name?