It doesn’t matter whether you’re sixteen or sixty, whether you look like Carmen Electra or Danny DeVito, whether you have millions or only a few dollars. Whatever the case you can make money by investing in domain names.
I once read an article by an investment advisor (Richard Russell on Dow Theory Letters) the article was titled: The Perfect Business, and a few of the criteria for the perfect business are below:
1) It must have worldwide appeal (not just a neighbourhood)
2) The perfect business leaves you with free time.
3) It has minimal labour requirements
4) It has low overhead
5) It does not require big cash outlays
6) The business is easily moved and isn’t stuck in one Geographic location.
As you can see from the above domain investing satisfies all these criteria. The article covers many more points and is well worth checking out at Dowtheoryletters.com.
So lets go into a little more detail on these points:
1) Domain names have worldwide appeal. Businesses from all over the globe want a domain name that best describes their business, product or service, and they will pay to get it. More people are coming online every day so the market is expanding at a fantastic pace.
2) You can spend as much or as little time as you desire when investing in domain names. Sure some people spend 18 hours a day glued to their screens, but you can build a very profitable business with only a few hours a week.
3) Domain investing certainly has minimal labour requirements. You don’t have to build, store or really do anything except pay your renewal fees. The option is there to do more – Development, Joint ventures, Parking – but the choice is entirely up to you.
4) There is no overhead – except for renewals and hosting (if you decide to develop.)
5) With each domain costing about $8 to register it’s very easy to get started in this business. Yes these domains might not be the one word generics we’d all like to own, but a very successful enterprise can be started with a very small initial outlay.
6) That’s the beauty of the Internet and Virtual Assets – you can access, move, work on them anywhere in the world, and you don’t have to stay on a cold wet little island once you’ve built your business to a respectable level.
The growth in the domain industry has been phenomenal over the last 3 years and the current downturn in prices was inevitable after the “boom years.” But unlike the 2000 crash, the Internet is now firmly established and domain names are here to stay. Also with more people and businesses coming online every day any downturns in this industry will probably be short lived.
Also there are no barriers to entry. Sure, you need a computer, but you don’t need any specialist skills, and with a little bit of research and study you can soon start on building a profitable domain business.