I am always looking for new ways to make money. I also get really excited when it is a fun way to make money. Recently I ran across some YouTube videos from one of my now most favorite sites, DomainSherpa.com. Michael Cyger explains all about being a Domainer, and making a profit thinking of cool domain names, acquiring them, then selling them. His videos are entertaining, as well as educational.
Just to give you an idea of just how much a great domain name can fetch, check out www.domaining.com, Hotels.com actually sold for $11 million, and Honest.com brought in $180,000. The truth is, you can reasonably, if you are really clever, bring in $500-$3000 for a good brandable name. Now that does not come without a cost. It is just like real estate, sometimes it will be profitable, sometimes it will be a dud. Really serious investors, will even purchase domains at auction, paying considerably more than the domains originally cost, knowing they can eventually sell it for more See, just like real estate. Some people will only buy the names when they can get them with a coupon and still turn over a profit.
Since I am new to this, I have actually waited a few weeks to write this post, as I wanted to try this out. I started buying domain names about 8 or 9 years ago. I did not do it for investment, I just had some cool names I might want to use later on. I would have done much more, sooner, had I known what I know now. I only own one of those still.
2 years ago I started buying domain names regularly, not knowing exactly what I would do with them. I had read a lot about buying keyword friendly domain sites, such as this one, that could bring in organic traffic, because people would type in those exact keyword phrases. As a result, I own a lot of really stupid domain names that are almost a sentence. I accidentally had them on auto renew on GoDaddy and now I own them for another year. Not to fret though, I will cover in another post how to monetize them. I do like having “how to make money at home that is not a scam” for this website though, it just works for me. The big money domains have two to four letters, or are one word, pretty much impossible to find, except on the auction sites now. Since there is so much to cover on this topic, I am keeping this post about virtual real estate, talking about “Brandable” names.
Brandable names typically have no type in traffic, or very little. BrandBucket states that a good brandable name should be non-keyword, short and catchy names. They by rule should be no more than 3 syllables, but there are exceptions. Try to have no more than 13 characters, they should be easy to pronounce and memorable. .com rules as the extension, as people are so familiar with it. I had a bit of trial and error in this, and it took 20 tries to get listed with BrandBucket. However, they priced that domain at $2200. I submitted 3 to Namerific, and they declined two, but accepted one and that is listed for $3900. Both these services employ logo designers, who design a logo for your domain. When you list, you decide how much to award the logo designer, when the domain is sold.
The two sites I recommend to submit your names to are BrandBucket and Namerific. Brandbucket charges $10 to list, they are considered the leader in brandable domains, and they give you a suggested price, great for newbies. They also demand exclusivity. Namerific, is still an extremely viable place to sell, plus they allow you to list elsewhere, as long as it is for no more. I recommend studying the names they are listing, to see what they are looking for.
Here is a video of Margot Bushnaq from BrandBucket and Michael Cyger from DomainSherpa, explaining what BrandBucket is looking for in a domain name. BrandBucket on Domain Names
Stay tuned for more on domains and making money, as I have become addicted to this!
These are the sites I have for sale:
Just for fun, here are some brandable domain generators
My take on domaining: Go for it! Have fun!