Domain Flipping Business Opportunity for Nigerians – Flip & Make Money
There are various ways one can make genuine money online with very little investment and domain flipping business is definitely one of them.
In this article, I will share with you one of the ways online entrepreneurs are making a living buying and selling domains.
Any internet savvy should already be aware of this opportunity and how it works, but for the benefit of those still coming up and seeking ways to make extra money online, I will be explaining in details the domain selling business opportunity and I bet you’ll find enough reason why you should not disregard this opportunity.
I will also show you how to identify prospective premium domains with the potential to return maximum profit.
But before I go into the details of this business opportunity, as I said earlier, this article is for everyone including newbies in the online business and for those internet hustlers not already aware of domain flipping business, so I will start from the basics.
What is a Domain?
A domain may be referred to as an internet address through which users can access a website/blog. Domain is the internet real estate.
Example of a domain is “TheTotalEntrepreneurs.com”.
A domain comes in different extensions , example, .com, .co, .net, .edu, .org, .ng, and most recently, .blog, .music, .beer, .army and many other extensions you can think of.
As a matter of fact, as of June 12, 2018, the internet boost about 1,542 domain extensions (also known as Top Level Domains [TLDs]) and it keeps growing.
But as you can deduce, these numerous extensions are geared towards niche marketing.
.com (meaning commercial) is the most common, more universal and mostly where the big opportunities can be found or generated. The high selling premium domains are mostly those that end in .com.
Also, recently, in the wake of cryptocurrencies, the .io extension is proving to become very valuable.
What is Domain Flipping?
Domain flipping is the process of purchasing a domain name with the intent of quickly selling it at a significantly higher cost. Domain Flipping is simply, the buying and selling on domain.
Is Domain Flipping Business Profitable?
A domain flipper can purchase a domain for around $10 and sell it for thousands or even millions of dollars within a month, year/years.
Business guys that take domain flipping as full-time business or domain investors can pay as high as $10,000 and more for a domain they do not wish to use but to resell at a higher profit.
Visit DomainKing.com and get a glimpse of transactions Rick Schwartz is making buying and selling domains. He also now rent/lease domains for a period of time. His portfolio of domains is running to hundreds of millions in Dollars. He has also spent nearly $10 million dollars purchasing domains.
Few years ago, precisely November 2014, I shared the story of Jon Schultz, a businessman who bought the domain (ebola.com) for $13,500. By October 2014, Jon sold the domain to a pharmaceutical company in Russia for $200,000.
All Jon needed to do to keep holding this domain until a buyer comes is to pay a renewal fee of about $10 yearly. You can read about Jon’s Ebola sale story here.
Let me also shock you more.
Do you know Facebook bought Fb.com from a nonprofit company named the American Farm Bureau Federation for $8.5M in 2010?
That’s not all, the amount Facebook paid for Fb.com is peanut compared to what Vegas.com paid for LasVegas.com.
Finance Online reported that in 2005, Vegas.com agreed to pay the sum of $90M to LEASE the domain name LasVegas.com for 35 years (2005 – 2040).
Let me come home, some months back, a Nigerian, Olumayowa Elegbede registered the following domains NigeriaAir.com, NigeriaAir.ng, NigeriaAir.com.ng, and these domains are sold for about N3000 – N8,500, .ng being the costliest.
You know what?
Olu has listed the domains for sale at $66,489 each (N23,271,150) @350 per dollar exchange and parked NigeriaAir.com to take advantage of the traffic that is already coming to the address.
Now you’re liking the business opportunity I guess, if so, read on.
Update: The NigeriaAir project was a sham and Olu has now revalued the domains.
How to Start a Domain Flipping Business in Nigeria.
Not very stressful at all. In fact, this is one of the most easiest home business anyone can do.
All you need is your email for registration and debit card for payment.
You can buy new domains from namecheap.com at a very affordable rate and a host of other domain registrars. I use namecheap when it is a domain I do not wish to use or host. This is because, most times, the host companies like Bluehost offer a free domain for 1 year to clients that host their sites with them. Sites like Fastcomet offer free domain for life as long as you are with them.
For our local domain extensions like .ng and .com.ng, you can register your domains with web4africa.ng or domainking.ng. You may also choose to host your domains with them if you so choose.
Just create an account with any registrar of your choice, identify a domain you suspect could be of immense value tomorrow, register it, list it for sale and you’re in business.
You can also make money with the domain while waiting for a buyer by “Parking” the domain.
When you park a domain, adverts are shown on the address when people view and click ads displayed on it, you make money. Amount made largely depends on the traffic volume and clicks. You won’t make so much money through this but what do you have to lose as it is still free money.
According to Sedo, an online flipping site, parked domains sell x2 better than offline domains.
If you wish to buy domains previously registered by other flippers, you could visit a domain flipping website. There are tons of flipping sites available like Uniregistry, sedo, flippa or godaddy auctions site, etc.
You can also list your domains on these flipping sites for sell.
How to Make Money Flipping Domains
1. Register a New Domain and Sell: You can purchase any potential valuable domain by visiting any of the domain registrars that also allow you to buy and park the domain for reselling at a higher rate. Uniregistry is my best option. Sedo is also good but the registration and verification process is somewhat frustrating. You can also buy very cheap domains at Namecheap and park it with Uniregistry or Godaddy auction site for sale.
2. Buy already Listed Domain and resell: At Uniregistry, you can buy a domain listed by another seller at an auctioned rate and sell at your own rate at your own convenience.
Also note that you can purchase premium names with special extensions at Uniregistry like .shop, .sexy, .auction, .io, .coach, .college, .academy and any other extension that is available (Running in thousands).
Read on to know how to identify potential premium domains.
How to Identify Potential Premium Domains
Can one easily identify a domain with great potential to become very valuable or sort after in the nearest future?
Yes, if you are a fellow that follow trends.
Taking advantage of opportunities that could emerge from coming events, disasters, epidemics, personalities etc and being smart is the most required skill for domain flipping business.
I mentioned personality because people now register the names of important individuals in the society and sell the names back to them when the bearers see the need to have an online presence where their followers can read more about them or upgrade to a self host instead of using free platforms. Some of these high profile individuals are able to afford what the initial buyer request while others like Linda Ikeji could not. That is why they may decide to add other variables in their names instead of paying the high rates requested by the domain flipper.
Back to how you can identify potential premium domains.
Like Olu, the Nigerian guy that just purchased NigeriaAIR, Jon the guy that invested hugely in ebola.com and many other domain investors, you should look out for opportunities and take immediate action towards acquiring them if you must excel in this business.
Domain flipping business is growing into a large industry and events turning ordinary names into premium names. If you think this is an opportunity you would love to look into or need further clarification on how to take advantage of this opportunity, you can contact me privately for a section with me. Meanwhile, you can go to Namecheap now to buy your first domain if you got an idea on your head before someone snaps it.
To your success.
Here are few of the domains on my list:
The good thing is, even if I didn’t get to sell at the price I want, or while waiting for a suitable buyer, I can start a project with those domains.