Domain business, could it be the perfect home based business? It has a number of advantages, some of which I discuss in this article.
This is what this post covers:
Today, I want to talk about the domain business and I ask the question, could it be the perfect home based business business?
This in my opinion this is the perfect home based business. It has a lot of short term potential and a lot of long term potential. Both of which are important to me and no doubt are also important to you.
You would have noticed that the income from this is recurring, that is when people you introduce to this renew, you get paid again and again. This is great news if you are looking to build up your residual income.
No physical stock, a brilliant bonus
As well as that, there is no physical stock. No physical stock is a brilliant bonus. Let me explain why. If you have being involved with any sort of business in the past, you may have had to purchase stock before you sold it for various business reasons.
This means that you had the cost of buying that stock upfront and storing it some place. This drove up your costs and drove down your profit margin at the same time which made it more difficult to make money. If you did not sell the stock, you and you alone absorbed those costs, which made it more difficult to make money.
You could then be absorbing storage costs indefinitely for physical stock you purchased for your business in the past.
If you are currently involved with a business that requires you to buy stock, I recommend very strongly that you keep the points raised above in mind. You do not want to buy stock unless you are going to make money when you re-sell that stock very soon. You do not want to be absorbing storage costs indefinitely for stock that you have not yet sold.
Some very interesting January 2015 statistics
These days, many people are online. There were over 3,000,000,000 internet users by January 2015. In January 2015, there were over 876,000,000 websites out there. The websites that you see on the internet have a domain name associated with it.
The domain name is registered with a domain name registrar. There is a transaction to register a domain name. Money changed hands when very single one of those domain names was registered and again every time they are renewed.
Money also changes hands when a domain name is moved from one registrar to another registrar. I outlined my experiences in moving a domain name from one registar to another here as it is not always a simple trouble-free process.
I found that moving domains since I wrote that blog way more easier as I use the information in that blog as my checklist. I hope you do too if and when you move domain names from one registrar to another.
Domain names industry is international in scope
Because domain names are registered online, the buyers of domain names could be based anywhere on the planet where there is an internet connection and where they have access to an online payment method, like for example Paypal or a Credit Card.
The domain name business is international in scope. The buyer of a domain name could be based in Europe, yet the seller could be based in Asia with the domain name registrar based in the United States.
Domain name industry is huge
The buying and selling of domain name is huge business.
In January 2015, there were over 284,000,000 domain names registered worldwide. Each of these was registered with a domain name register. Money changed hands for each of those domain names registrations.
Hey, hold it, why the huge difference in the number of domain names and the number of websites?
Now you may like me wonder why there is a huge difference in the number of domain names and the number of websites. To recap:
The very interesting January 2015 Statistics again:
Number of internet users: Over 3,000,000,000
Number of websites: Over 874,000,000
Number of domains: Over 284,000,000
If you are interested in more recent statistics than these relating to the domain name industry, go here.
Could reason one be sub domains?
Many domain names have a number of sub domains associated within it. They could have their own website of it. A separate sub domain could be used for their blogging activities. Another separate sub domain could be used for their support department. Another separate sub domain could be used for their helpdesk department. You might see these as BLOG.thewebsite.com or as SUPPORT.thewebsite.com or as HELP.thewebsite.com, no doubt you get the idea.
The SiteRubix.com domain has a number of sub domains where people can create and build their own websites on the internet. These websites are accessible on the internet. I personally think everyone should have their own website once they reach the appropriate age. It is actually very easy to create your own website as a sub domain website with the SiteRubix.com domain.
I personally now invite you to go here to read how, see a video going through this process and then I invite you to actually start building your own website yourself. If you have not already built a website, you will be surprised at how easy it is to do so there. Talk about using the latest technology advances to your best advantage. 🙂
Could reason two be to protect intellectual property?
Also many domain names are brought and never have a website associated with it for different reasons. One reason is to protect intellectual property, trademarks and the like.
These are some of the reasons why in my opinion there is a huge difference in those 2 figures. If you have any ideas on other reasons, please share them with the rest of the community by commenting below. Many thanks. 🙂
Back to the original question, could being in the domain business be the perfect home based business?
By now, you will know that I think that being in the domain business is the perfect home based business.
Some advantages of the domain name business
There is no physical stock. The market is huge. Over the last few years many more domain name extensions are coming into use.
Everyone at this stage is familiar with the .COM extension, the .NET extension and the .ORG extension.
Many other dot extension names are coming into use. Examples include the .GREEN extension, the .ACTOR extension, the .BAND extension, the .DANCE extension, the .GLOBAL extension, the .NINJA and many more. These new extension names are adding additional variety to domain names.
The domain name business is the perfect home business conclusion
To recap, this is the perfect home based business. It is also the perfect internet internet based business. The domain business worldwide is huge. The new domain extension names are becoming more mainstream, more familiar and more acceptable.
My preferred Domain Register is Domain Cost Club. They have a referral program which you can take part in once you get your Domain Cost Club membership. Once you get your Domain Cost Club membership that gives you access to the referrals section within your Domain Cost Club membership dashboard as well as your replicated page:
Yours would have the same look except that the referred by section would have your details, either your name or your Domain Cost Club user name. This is something which you can change in your Domain Cost Club membership dashboard if you need to.
Domain Cost Club membership starts at only $9.99 per year.
I have noticed what I consider to be serious shortcomings of referral programs associated with other Domain Registrars which effectively means that in my opinion, you do not get full credit (get paid) for your efforts:
- NameCheap pays only on the first time purchase of approved products and services purchased by a new customer who completes the sales process within 30 days using your cookie. They do not pay on repeat business from that customer. So if you sell a .COM domain which sells for $8.88 for the first year of registration, your commission would be 20% of that ($1.776) at best. If that customer then buys more products and services at NameCheap, you get nothing extra. You have provided them with a potential lifetime long customer and they reward you by giving you less than $2 at best for your efforts. That does not make business sense to me.
- GoDaddy has a Discount Domain Club which allows people to buy domains cheaper. With GoDaddy, it is almost $120 per year for their membership package. The person who referred the person who buys the almost $120 annual membership fee gets nothing for their trouble. That does not make business sense to me. I do a comparison between GoDaddy’s Discount Domain Club and Domain Cost Club:
With the above examples, you would need to check current pricing, current commission rates, current terms etc as they may change.