Flipping domain names is one of the fastest ways to make money online, if done right.
And guess what?
Almost anyone can do it.
There are many ways to flip domains though.
While some flippers buy sector agnostic names and cold call potential buyers, others do bulk domain buying while listing or parking them.
In this post, we’ll be looking at one of the ways to flip domain names as fast as possible and maybe turn it into a business with consistent cash flow.
Let’s get started.
Find Potential Markets
The first step I’d take is to find potential markets with lots of potential buyers or businesses for the domain.
So, let’s say I want to buy a domain name for a pizza ordering website, I’d look for a district in the U.S, UK or Canada with lots of pizza shops.
I’d also find out what types of pizza they sell and the kind of customers they target.
For example, pepperoni pizza is by far the most ordered pizza in the US, but might not be the same in the UK or Canada.
Also, look into what the customer preferences are.
Is single serve pizza in demand or are customers looking for small pizza with four to six slices?
Find & Buy Targeted Domains
So, once you’ve found the right cluster of potential buyers for your domain name, you want to buy the right domain to target them.
So, if we find that pizza buyers in Manitoba, Canada are mostly students who want to order small sized pizza, then we should narrow it down.
The university of Manitoba is located in the capital city of Winnipeg, which has many nicknames such as Winterpeg and the peg.
If we take the shorter version, we have “The Peg” which will make the first keyword for our domain name.
You could then register domain names such as winnipegsmallpizza.com, thepegsmallpizza.com, winnipepperoni.com, etc.
You could register several variants of keywords according to your research, and duplicate them with the local .ca domain.
Build an MVP
This is one of the most important elements to consider if you want to flip domains fast and consistently.
Buyers are more likely to pay for a domain name if they see a prototype of what the domain can do for them.
So, go ahead and flesh out the domain name with an MVP.
You could create a quick website in 3 days using WordPress and woocommerce, and some placeholder photos.
Nothing fancy, just show what the website can potentially do for the buyers and you’ll get them opening their wallets.
Now, building an MVP isn’t enough.
You have to pitch it to potential buyers who do not have a pizza ordering website yet.
Create a list of potential buyers and their email addresses, and start cold emailing them.
You need to write a compelling email pitch to convince them that a website with any of your registered domain names can help them capture their target demographic.
Email as many potential customers as possible.
Apart from pitching to potential buyers of your domain names, you could list them on any of the domain flipping websites.
There are many of them such as Flippa, Afternic, Dan, etc.
If you’ve already created an MVP, you don’t need to park the domain name, just list it for sale with a reasonable buy now price of about $500.
You could increase the price in such a way that after paying the sales commission, you’ll still end up with about $500 net.
The more exposure your domain name gets, the more your chances of flipping it and making a healthy return.