This might sound quite incredible, but did you know there is a man in Orlando, Florida whose job consists of scuba diving into water hazards on golf courses to retrieve lost golf balls, then selling them for profit? Or how about the woman in Manhattan, Kansas, who is a professional dog food tester? Then there’s the envy of many: the woman in Hyannis, Massachusetts, who is a professional potato chip inspector.
There are many unusual jobs in the world, but what they all have in common is that these people found a niche, a need in the market that wasn’t being met, and decided to capitalize on it. The same could be said for what we do here at resell.biz: resell domain names. We help people just like you to create your own business reselling domain names, all in your very own online store. Why? Because there is a need in the market, and resell.biz knows it’s time to answer that need.
What are some of the best tricks of the trade for becoming a domain name reseller?
We have compiled our top 4 expert tips here for you to use. Reselling domains may not be as exciting or fun as being a potato chip inspector, but at least you’re not munching on kibble all day… read on!
Focus on a Market
When you’re thinking about what domain names to purchase to resell later, try to choose a set of domain names that all fall into the same subject or category. This will make it easier for customers who come to your online site to peruse your pre-selected group of domain names, and the easier you can make it for them to find what they want, the easier it will be for them to make a purchase!
Focus on Big Sellers
It’s no secret that .com is the king of domain name extensions, so when you’re curating your list of website addresses try to find domains that end with this gold mine of a TLD. Also, the domain names that tend to be the most popular have one or two English words in them; the simpler the domain name, the easier it will be to sell. Of course, as these are in high demand you may have trouble locating them, so try using domain names that meet these criteria as the center point of your reselling business, then purchase other domains to sell that fall into the same category.
To Auction or Not to Auction?
The reason we suggest using caution when putting domain names up for auction is that they aren’t always the best model for selling your domain names. Customers tend to prefer to see a fixed price so they can compare domain names and know exactly the cost of one versus another. By setting a price, you are making the customer’s job easier – an essential part of any business.
Oldie but a Goodie
There’s a method of pricing that we all know well, but really works. Try selling your domain names for prices that end with something other than double zeros. If you’re to sell a given domain name for $200, listing it for $199.99 will make buyers more likely to purchase it. You can even get creative and throw in other numbers in there, which may suggest to your customers that your prices have been so carefully considered and are absolutely as low as you are able to push them – for example, listing a price of $203.67 may actually be more convincing that a price tag of $200. Utilizing A and B testing should have very interesting results – give it a try!
Domain reselling can be hugely profitable when done right. Use these tweaks to your selling model and your profits could go sky high!