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question How to make 10k per year

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Denismth

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Being a beginner in domaining, and selling only 1 so far, I wish to have a sense of what is needed to make 10k a year which surpasses my yearly salary.

My portfolio is just 150. 30% .com, 40% .xyz, .mom, .pics and others make up the remaining.

Pls throw your best advice so I may succeed in this business.
 
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The views expressed on this page by users and staff are their own, not those of NamePros.

D Haynes

Top Member
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4,707
To make 10k a year you probably need to sell 15k-20k a years worth of names when you take into account comissions, taxes, purchases, subscriptions and most of all renewals. So it's actually more of a task than you might first think.

Quality is the name of the game. You're probably going to have more success selling .com names so maybe consider the .com to .xyz ratio in your portfolio.

Make sure your names are getting maximum exposure. List them everywhere you can and make sure you are using for sale landers.

The vast vast majority of domainers don't make 10k a year so you need to be pretty good at what you're doing. It's not unatainable but likely very close to it.

Good luck!
 
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DrJacoby

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Drop the .mom and the .pics.
 
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jhm

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Good luck with the 10k goal. 30% COM is pretty low, I'd suggest the majority of the portfolio being COM, especially if you're starting out. If you're tipping your toes in stuff like XYZ, make it a relevant term, with low renewal

PS Drop your MOM and PICS (as @DrJacoby pointed out)
 
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Denismth

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Thank you very much guys. The dot pics and dot mom have not expired yet. I will drop most if not all. I bought them because they were cheap.
 
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1Darko

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You would probably need to have a portfolio of approx. 1,000 .com domains. If you calculate with a low sell through rate of 1%, you would sell about 10 domains in one year.
With hand reg or drop reg domains you could achieve an average sale price of 1,000 USD per domain. That means your income would be 10,000 USD.

Your cost for regging 1,000 .com domains would be about 10,000 USD. That means you would reach break even.

Now you have to calculate your time for finding and managing 1,000 domains and all other costs involved. Also the cost for renewals in the coming years. You will fast see that you're loosing money.

How to come out of this situation? You need better domains. That means you will have to buy better domains. Lets say 1,000 domains with average purchase price of 50 USD. That means to invest 50,000 USD in your portfolio.
This names will probably fetch higher sale prices and you will achieve a better sell through ratio - maybe 2%.

That means 20 names with average sale price of 2,500 USD. You will again reach break even with 50,000 USD income. Again your time and all related costs are not covered - you lost money again. The question is if your able to find 1,000 good domains for 50 USD each.

If you buy 100 USD domains you will probably reach your goal easier. But you would need to invest 100,000 USD.

What I want to say is - you have to invest serious money and time to get repeatable sales over a longer period.

Sorry, there is no easy money here.
 
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comRaid

Established Member
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Seems like you already read - 'Scaling Up A Domain Name Portfolio" post by Bob Hawkes .
 
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Denismth

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Impact
βˆ’58
You would probably need to have a portfolio of approx. 1,000 .com domains. If you calculate with a low sell through rate of 1%, you would sell about 10 domains in one year.
With hand reg or drop reg domains you could achieve an average sale price of 1,000 USD per domain. That means your income would be 10,000 USD.

Your cost for regging 1,000 .com domains would be about 10,000 USD. That means you would reach break even.

Now you have to calculate your time for finding and managing 1,000 domains and all other costs involved. Also the cost for renewals in the coming years. You will fast see that you're loosing money.

How to come out of this situation? You need better domains. That means you will have to buy better domains. Lets say 1,000 domains with average purchase price of 50 USD. That means to invest 50,000 USD in your portfolio.
This names will probably fetch higher sale prices and you will achieve a better sell through ratio - maybe 2%.

That means 20 names with average sale price of 2,500 USD. You will again reach break even with 50,000 USD income. Again your time and all related costs are not covered - you lost money again. The question is if your able to find 1,000 good domains for 50 USD each.

If you buy 100 USD domains you will probably reach your goal easier. But you would need to invest 100,000 USD.

What I want to say is - you have to invest serious money and time to get repeatable sales over a longer period.

Sorry, there is no easy money here.
Thank you for the detailed explanation. Seeing the investment amount, it seems unreachable at the moment but who knows 😎.
Will try my best to reach there somehow. πŸ™πŸ™πŸ™
 
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boker

Top Member
Impact
3,709
You would probably need to have a portfolio of approx. 1,000 .com domains. If you calculate with a low sell through rate of 1%, you would sell about 10 domains in one year.
With hand reg or drop reg domains you could achieve an average sale price of 1,000 USD per domain. That means your income would be 10,000 USD.

Your cost for regging 1,000 .com domains would be about 10,000 USD. That means you would reach break even.

Now you have to calculate your time for finding and managing 1,000 domains and all other costs involved. Also the cost for renewals in the coming years. You will fast see that you're loosing money.

How to come out of this situation? You need better domains. That means you will have to buy better domains. Lets say 1,000 domains with average purchase price of 50 USD. That means to invest 50,000 USD in your portfolio.
This names will probably fetch higher sale prices and you will achieve a better sell through ratio - maybe 2%.

That means 20 names with average sale price of 2,500 USD. You will again reach break even with 50,000 USD income. Again your time and all related costs are not covered - you lost money again. The question is if your able to find 1,000 good domains for 50 USD each.

If you buy 100 USD domains you will probably reach your goal easier. But you would need to invest 100,000 USD.

What I want to say is - you have to invest serious money and time to get repeatable sales over a longer period.

Sorry, there is no easy money here.
Some good advices, but math doesn't always works the same for everyone. First, to reg 1k domains, it will cost 10k just if you are using godaddy or another registrar who is not doing discounts, but if you hunt bargains and use tons of registrars, you can do under $5 on average for 1k domains. In the same time, playing with tlds and prices, you could have a STR way bigger than 1%, because it's less competition. Com is the king, but sending a beginner in the cage of lions, to compete with 5k old timers, at auctions and closeouts for .com's, it's not allvays the best idea.
 
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boker

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By the way, by alternative tlds I mean mostly cctlds and a few ngtlds, but selling .mom and .pics is very improbable, maybe with few exceptions like meta.pics tech.mom and so on.
 
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1Darko

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Some good advices, but math doesn't always works the same for everyone. First, to reg 1k domains, it will cost 10k just if you are using godaddy or another registrar who is not doing discounts, but if you hunt bargains and use tons of registrars, you can do under $5 on average for 1k domains. In the same time, playing with tlds and prices, you could have a STR way bigger than 1%, because it's less competition. Com is the king, but sending a beginner in the cage of lions, to compete with 5k old timers, at auctions and closeouts for .com's, it's not allvays the best idea.
I know!
 
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Denismth

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cctld= xxxx.cc?
ngtlds= xxxx.ng?

Or am I getting it wrong?
 
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D Haynes

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cctld= xxxx.cc?
ngtlds= xxxx.ng?

Or am I getting it wrong?
Cctlds are location specific (country code). For example .UK for the UK etc.

Ngtlds are general or generic use and can be used by anyone (within reason).
 
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1Darko

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cctld= xxxx.cc?
ngtlds= xxxx.ng?

Or am I getting it wrong?
cc means country code domains, like .us , .de , .co ...
ngtld means new generic top level domains, like .top , .app , .horse ...
 
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1Darko

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boker

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cctld= xxxx.cc?
ngtlds= xxxx.ng?

Or am I getting it wrong?
Not knowing simple things like these shows that you are not ready to compete with thousands of domainers for closeouts or auctions and probably you are not properly ready to hand regs sellable domains, at least not to make a 10k profit at this time. I would suggest to learn from other beginners mistakes, from this forum and to play with a 100 or so cheap hand regs, selling them to other domainers and for xxx to end users and after weeks/months/years, depending on your knowledge, you will get enough experience to move forward. I suggest to follow th reported sales thread, namebio, even the marketplace from namepros and ask yourself why a domain was bought and why it sold ( you will not get an answer all the time). You will know when you are ready, knowing why a domain is valuable and why not.
 
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I think you are going to have to have a larger focus on .com and bump up your portfolio. At that level, it becomes a game of numbers.
 
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Denismth

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Such a helpful community. Thank you very much y'all.
 
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Revisiting

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Most domainers take over 5 years in this game just to realize how difficult it is produce an income that covers their renewal costs, let alone make any profit. If your starting out with the ambition of $10k of annual profit, Your either super-clued up on the domain game but have only just decided to put your knowledge to work (clearly not the case) or your destined to fail.
My advice to anyone starting out (without the prerequisite knowledge) is set an agenda that allows you to experiment with domains - Sure a profit would be nice but don't expect it. Keep your 'Play money' (don't think of it as an investment) low.
Some hobbyist become very successful but that's how to find out if you have the skill set.
 
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Denismth

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I can see that domaining is not easy as other online businesses are not easy. That perception made me not try it even though I was making money online for the past 12+yrs.
I thought I would become a millionaire fast when I learned about making money online 12 yrs ago. I have not become one neither have I broken through. Online business is even tougher than mortar and brick businesses. Imagine the staggering failure rate of 95%+

This is to say I know how things go usually and I tried almost everything in the past except domainning. Even if I make a couple of sales/year initially, that would be a good start initially and hope I will breakthrough eventually.
 
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buydomainnames

Established Member
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558
Being a beginner in domaining, and selling only 1 so far, I wish to have a sense of what is needed to make 10k a year which surpasses my yearly salary.

My portfolio is just 150. 30% .com, 40% .xyz, .mom, .pics and others make up the remaining.

Pls throw your best advice so I may succeed in this business.
Its possible , scale your domain quality before change your target or make a new yearly standard revenue. Quality is over the quantity
 
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Revisiting

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I liken 'Domain investing' to something like the antiques/collectables market. We would all like to think we could visit the Flea-Markets or Car boot sales and pick-up bargains that we could resell at a massive profit. But, the reality is that those that are successful and cover all their additional expenses and make an income have years of experience and a real mountain of knowledge to back-up their purchase decisions. One thing you'll notice is they don't buy if there is even an element of doubt of the selling on.
Hopefully those that keep thinking that there is some magic formula to Domain profits will realize. IT is the KNOWLEDGE of a vast number of varying factors that go into successful buying. It isn't transferrable from one to another without a many year apprenticeship. No book or so called domain expert is going to give you even a fraction of what is required
 
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