#1: I mentioned before that the portfolio I represented had 365,000 names in it…Well, if he paid 8.25 a year in renewals per domain, that means $3,011,250 every year was spent on renewals come hell or high water. If I recall correctly, it was more than that.
#2: Selling 100,000,000 in domains required a lot of hard work, not just from the domain owner but from an army of salespeople that I had the pleasure of managing. Believe me, it was no cakewalk. We worked our tales off! One domain at a time, with an average sale price of probably around 5k. Those salespeople needed to be paid!
#3: You need a robust CRM to track all of your leads, sales, and statistics and a tech team to back that up. Talented developers like the ones we had were not cheap.
#4: We also had our fair share of legal issues. An attorney was on retainer. We used him quite a bit! Almost daily! Not necessarily for legal threats, but contract negotiations, website terms and conditions etc., etc.
#5: The best for last…Frank didn’t pay eight bucks a domain to build the 365,000 he spent on some names hundreds of thousands, and others, yes he did spend eight bucks on. Just like a stock, there are varying prices. Building the portfolio took millions. Plus time. A lot of times..As in years!
Sure investing in domains can be a lucrative investment. It is also extremely risky. Domains you pay thousands for could only be worth thousands to you and no one else. Being in this industry for over ten years, like I said before, I have seen people make millions, but I have also seen the opposite. If you have toiled, risked it all, and spent your hard-earned money building a portfolio then you might want to consider speaking to us over at Saw.com who have been in sales an average of over 20 years, have been in the domain industry on average close to ten, and have cleared hundreds of millions in transactions. It is time to maximize your value! We want to show you how we can do it.
If you are just getting into the business, I would like to say welcome. I cannot imagine myself in any other industry. What keeps me interested is I get to learn about and talk about a different idea, business, organization, seller, buyer, entrepreneurs every day. Every domain has its own story. Its own history and the seller or buyer who comes with it do as well. I love hearing them and being part of that. I think this article is a great one to start with to learn the absolute basics. If you want to continue a little further down the domain rabbit hole, I suggest you go to https://www.dnacademy.com/ . Keep learning! As I said before, I think this article is a great place for you to start: