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I was considering how the domain industry compares to all the other businesses that one may be involved in. Here are some of the advantages and disadvantages that I could think of:
Advantages
What else could you think of?
This can help people weigh in the pros and cons and see if this is something that they wish to get in/continue.
Advantages
- Can start off with low capital - There have been people who have started off with literally $500 or less and worked their way to $10,000+
- Image matters less - In a business where you are dealing with different buyers all the time, having a poor image may not disrupt your business (unless you are a reseller)
- Can experiment with outbound and inbound - Outbound is very much doable and people can even start with less than $50 and work their way through
- Low liquidity - Chances of liquidating at will is low
- Low retention - Once you sell a name, your business starts from scratch. It's not like the same buyer will buy your other names
- Every name is different - If you sell a name, doesn't promise that you would end up selling similar names at similar prices
- Low ticket size - You can't do much to increase your ticket size per sale, like selling additional names to the same buyer
- Can be taken up on the side and then built up gradually
What else could you think of?
This can help people weigh in the pros and cons and see if this is something that they wish to get in/continue.