How do I get into the domain name business?

Question

I want to try to buy and sell domain names. How do I get started.
Could someone provide a step by step guide to getting into the business.
Can I sell domain names I buy through contractors such as ipower or do I need my own registering company?
I am willing to risk a lot of money for this business (1000-5000+).

Thanks A Lot guys.

Ipower means ipower.com
Its a domain name registering company

Answer 1

Know ahead of time that people who buy domain names and sell them for a profit are universally despised and hated in the web industry.
At one point in time, when the web was becoming very commercial, I believe it even became illegal to buy names that were extremely obvious or looked like other already well-known or established companies.
Personally, for the sake of flexibility, I had bought more domain names than I needed for my own company. A stranger contacted me last year to see if he could buy one of the ones I am not developing. I offered it for only $500 US, and he lagged and lagged and finally I never heard from him again. Guess it was too expensive. I expected this actually, and know that most people will look for an alternate name or domain (com, biz, info, net, and so on) before paying an upcharge to someone who bought the names with only the intent to sell.

You can buy domain names from someone like godaddy.com. They are cheaper than most, and easy to work with since they actually pick up their phones, lol. When you buy a domain name, it's "parked" for free at godaddy (and most other sites) until you have the name directed to a different server where it will be used. So yes, you can buy as many names as you want, park them, and sell them later. After getting them, you can simply advertise in the paper that they are available, approach the actual companies that might need them, or even offer help for people who are completely clueless on getting domain names.

You will probably do even better if you team up with a web designer -- college campuses are filled with them. Just put up a bulletin board ad or ad on craiglist.org and watch the calls roll in. Ask to see a portfolio and go from there...

So, let's say you buy 100 names from godaddy.com at $7.95 each. That's less than $1000, and I think they will give a discount if you buy in bulk like that.

Placing ads can get expensive -- so use the classified sections of your paper, people actually read them. You can even place ads at a distance or online at craigslist for your web services. Creativity is all you need, and you already have some of the base costs.

Good Luck... :)

Answer 2

Godaddy.com has a reseller system.
You can buy names wholesale at a good price. They also provide things like shopping carts and support for resellers.
They also have an auction service were you can list names to sell (fixed priceor bid) or bid on yourself.

Answer 3

check out www.godaddy.com Reseller Program

Answer 4

if u goto http://www.google.co.uk/search?hl=en&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=how+to+become+a+domain+reseller&spell=1
this is sites that offer resller offers.