poll Domainers: How much to quit your job in 2022?

[redemo]

Simple question for part-time domainers. How much money do you need to earn from domaining in 2022 to quit your job and become a full-time domainer? (amount in American $ dollars).

Edit: Please state your country in comments (thanks @wallet2it).

 

[biggie]

Hi

even if, or when you quit your "job"...
you still got to put in work managing your portfolio of domains.

so, you're just trading one line of work, for another.

best to keep your gig and do domaining at same time, if/when possible.
as seen with covid, you never know what can happen.

if your job was paying healthcare, dental, life, retirement plans, along with SS deposits,
then when you quit, now all that has to be covered by domains.

if you got a home, family, and expenses associated.... all that has to be covered by domains as well.

sure, it's possible to make more money, buying and selling domains, than a regular job.
but as your lifestyle changes accordingly, you might have to work harder just to sustain it.

imo....

 

[johnn]

Domain business is funny because you DO NOT have average income per month.
Some months you sold a bunch of names and some months you do not have any sale at all.

 

[kite26]

Another factor except for income, is in what level you are satisfied with your current (main) job. I am not, and i plan to study something else to find an easier job to be able to do domaining easier. It's big decision, but life's quality is more important for me. Life is short and sometimes we forget it.

 

[D Haynes]

I think this question can be taken and answered in a couple of ways...

How much do you need to earn from domaining to maintain your current lifestyle (or match the earning from your main source of income)?

Or...

How much would you be happy enough earning through domaining to go full time even if it meant living a simpler life?

Some people would be happy to trim the monthly fat (tv packages, meals out, gym membership, smaller house etc) and earn less if earning less was more enjoyable and less stressfull.

 

[Kingslayer]

I don't do it for a living, but think i could.

About 4 to 5 years ago i paid mid-4 figures for my first single word .com, 6 weeks later someone offered me $40k for it. If i was doing it for a living, i could have sold it and basicly made a years salary in 1 move, but i held on and sold it for a lot more.

Last year i bought a domain for low 6 figures, i'm fairly confident (infact knew i could have) sold it straight away for mid-6.

If i did domains for a living, i think my approach would be buy a good single word .com (that i knew i could make money on) and just e-mail of a bunch of investors (or go to auction) and flip it for $50k-$100k profit.

Getting a single word .com's takes a lot of time, but get one at a investable price, you could make your yearly salary in 1 move.

 

[wallet2it]

Depends on where you live….for some areas $11000 a month won’t even be enough

 

[topdom]

You can't quit your job based on your current monthly domain profit only.

 

[Nametra.com]

Perhaps another (related) question to ask is how many people are full time domainers making enough money to do this full time.

 

[VadimK]

@kite26 Great point. The question implies that you are not happy with your job (or not happy enough) , and if better income offered you'd leave it behind. That's not the case with me, for example. I run a small travel agency for more than a decade already and even before covid ''era'' the travel industry is a constant wave - seasonal to say the least, and there are other factors as well. Now obviously it struggles big time. That's why I am pretty happy with the combination: my travel business + domaining. When they travel knocks the door, you just minimize your time with names. When you enter low season or down time, you spend much more time domaining. A perfect combination to me.
Bottom line - I can't really pick an answer to the poll, I'd invent my own:
Happy with things they are now, jobwise.

 

[kite26]

@kite26 Great point. The question implies that you are not happy with your job (or not happy enough) , and if better income offered you'd leave it behind. That's not the case with me, for example. I run a small travel agency for more than a decade already and even before covid ''era'' the travel industry is a constant wave - seasonal to say the least, and there are other factors as well. Now obviously it struggles big time. That's why I am pretty happy with the combination: my travel business + domaining. When they travel knocks the door, you just minimize your time with names. When you enter low season or down time, you spend much more time domaining. A perfect combination to me.
Bottom line - I can't really pick an answer to the poll, I'd invent my own:
Happy with things they are now, jobwise.

1000 times poor and happy than more rich and miserable.

 

[johnn]

OK cool down guys.
- I receive Social Security now - a couple thousand a month (So you know I am old!!!)
- I still have my regular job - I just like the job and not because I need money
- I flip houses - Buy/Sell Real Estate
- I do IT Consulting locally and on the Internet
- I buy/sell Domain names

I do these things because I like to do it and not because the money. I can quit everything and sitting at home and watch TV but that's not me.

And of course I paid too much taxes!!!

 

[wallet2it]

$ 4000 / month. U.K.

Try San Francisco ……damn expensive …..

 

[lock]

I could earn over and above with the domains i have if i had all of a sudden time to build things. If we are domainers surely all of us have the names to temp ourselves into being own end user. I have enough to take on industries.

 

[The Durfer]

I think with the uncertainty of another sale you would need at least a milliion dollar sale to retire and save. You need income in the future. What if you never sell another domain? No, best to do both work and domaining. Domaining is kinda easy and can be done in your pasttime anyway. Ty. Happy New Years! Whoohoo!

 

[FolioTeam]

One question for all people ( 9 so far ) who voted less than $ 2000 / month, assuming it's in low-cost-of-living countries. How on earth do you pay for expensive things bought from overseas and travel abroad to wealthier places like U.S.A., U.A.E., Qatar, U.K. and Canada? Also when you buy domain names you pay the same amount as everybody else. A dot com isn't cheaper to buy based on your location. There is no third world country discount for domain names. It's the same price whether you are living in Egypt ( @serppower ), Greece ( @kite26 ), Malaysia ( @zaimk ), U.S.A ( @wallet2it, @Nametra.com ), U.K. ( @jhm, @redemo, @D Haynes ) or Australia ( @lock, @Corey ).

That's another point. For import dependent countries like a few in Africa, monthly expenses can be quite high when compared to the West.

Because while basic things like food might be cheaper, every other thing is too expensive because of the need to import from the US, Europe or Asia.

 

[lock]

You'll never passively find the time. You have to actively make the time.

In the end the temptation to develop my domain names was too overwhelming.

You're right. It's not even that difficult to take on big brands if you have high qual targeted content.

If i quit my day job I have something to work on right now it covers it all.

 

[alcy]

tons of millionaires have only.debts

its all about lifestyle needs.. then those relate to how many kids u got.. yer gold digger wife..or if single..and then mix all this into where u live...cause in india u live like kinda king for 1k per month..while in usa uk canada etc u live in your car or street tent for that cash

 

[Vedula Kaveri]

Don't ever think that domaining is an easy task or business to earn money so easily and one can leave the job permanently. Domain selling is a time taking and one should have lot of patience like a ocean to sell one domain and to compete with other million domains.

 

[wallet2it]

What do you think the poll options should go up to? Cheers @wallet2it.

Not sure bro….again depending on where someone lives….

 

[jhm]

Many variables involved. Where do you live, outgoings, lifestyle...you'll be getting a full range of results

Focussing on the UK, and nothing extravagant, typically £20k - £30k annually is ideal. For most people, that works. If below this, minimum wage territory is roughly £15k. Overall, £20k - £30k in the UK is a fair range

USD converted, that's $30k - $40k. So, typically, I'd have to say $3,000 / month or more (for the UK)

 

[DomainRecap]

The ideal scenario, at least for me:

Keep your day Job + Domain Investing on the Side = Raking in the $$$

 

[Culminant Domain]

Thought to chime in on this before but didn't. The reason I chose the >10k is because, for one, I enjoy running my lawn care business, and secondly, it would take years and tons of luck to surpass that income. I, however, can absolutely understand why anyone would want to supplant their j.o.b. income. I thank the good Lord everyday that my employee days are behind me; I was terrible at it.

 

[jhm]

Crucial question do you see being a domainer as only selling domain names, not any other form of domain name monetisation? Because if your answer to that question is yes then I think getting to $10000 / month is almost (but not totally) impossible in well over 99,9 % of cases. Meaning one out of one thousand domainers who attempt it will succeed in reaching this income level. Through selling domain names alone.

By my definition, if you own a domain name, or profit from domain names, you're a domainer. Whether you sell it, monetize, or whatever it may be. If you're someone that has monetized your domain, making it a site / business...that's totally different. Good for those people that can do that, and pull in regular income for themselves. In fact, that is the smart way to do domaining, than selling off the names, if you do indeed have names with good potential

 

[damance]

$700-$1000