Web Flipping #2 - Buying A Domain

posted under , by Philip Howlett
Maybe I'm jumping in to this too fast? Who knows? This is an experiment, if it fails miserably I don't care, because I can say I tried. After reading about the money to be made through these kind of ventures I figured that it's worth a shot. I've read about all kinds of money making, get rich schemes, but this one has many credited sources and lucky old me has knowledge with the web. So then, part 1 is upon us.

What domain name should I choose? I remember reading an article which explained that a good domain name is one you should be able to tell a friend over the phone, without them asking how it's spelt. I've been researching a fair bit in to which websites sell, so I think I've made a well informed decision here to buy the domain name www.moneysaverpro.com. Let me explain what influenced my decision.

Firstly, it's a '.com' address, which from what I've read will sell for £10-£20 more than the alternatives (e.g. co.uk or .org). It makes sense to me, after all it's the most commonly used suffix and therefore the most desirable. It's also pretty catchy, suits a niche audience and it's short enough to remember. Maybe even more importantly it contains keywords! I began to think about what kind of things are hot in the media right now, what's on everyones minds and what are the attractive niche markets. You can't get away from the fact that we're heading in to a recession, and the credit crunch is upon us. This applies in the U.S as well, where a lot of the buyers of domains are located (thanks to sites such as sitepoint). We'll all be cutting back on costs, and I've noticed a trend in people looking online for advice on saving money. In comes money saver pro!

I won't be money saver pro of course, I'll just lay down the foundations for a budding young business person to create their money saving blog. Wish me luck! Back to the day job for now though.

Useful links:
http://www.bluehost.com - A cheap domain name seller
http://www.123-reg.co.uk - Has a brilliant way of suggesting domain names
http://www.dnscoop.com - Can approximate the value of a domain name


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