Stop Wasting Money On Domain Name Renewals

Hi Ruth

That's very true.

There's no substitute for getting these things orgainized
and down in writing.

My renewals come through pretty evenly every month of
the year so I sort of set myself a task to check every month
and then go through the renewing process.

That .ws domain name surpised me as I had left it to the day
just before renewal but still managed to get it through.

Not a good idea and I fully intend to try and do these things
more in advance in future.

Terry

Hi Heidi


I have seemed to get all my domains with GoDaddy although
I do use a couple of other registrar's for a few domain names.

With the dicounts they don't work out too bad but I will defineately
look to see if there is anyone cheaper, if they are reliable.

I have to agree that GoDaddy checkout system is a nightmare
but I guess they make more money through it so they keep
on blasting you with all their offer's.

I know my way around it now but for newbies it must feel
like entering an unescapable maze.

Terry

I agree.

I have had that domain for something like 6 or 7 years
now so thought it was worth keeping, if only to sell later
on.

Terry

It depends on the domain name but rather than just
cancelling them it might be worth trying to sell them
instead.

Terry

Yes, you start buying your first few domains and then as you
keep adding more domains over the years you suddenly find
that you have a $2,000 to $3,000 or more business liabilty
rolling round every year that you have to fund.

Si it's vital to make sure you have online(or offline) income
coming in to cover this plus make a profit.

If you have a bad month or two regards income you can find
yourself either having to fund the domain purchases out of your
own money or letting them lapse.

Personally after I have had a domain for a few years I feel
relunctant just to let it lapse so I renew anyway.

Aged domains worth more?

But of course you can always sell them.

So I guess if you can look at what domains are due for renewal
a month or two down the line you can take the appropriate
action to sell them or just be prepared for the bill.

GoDaddy, and I guess most other registrars, automatically
put their domains on auto-renew.

This is great of course so they don't lapse but auto-renew's
go through at top dollar prices.

Terry

Transferring any domain should be fairly easy as long as you
can get the authorization code from the existing registrar.

I know GoDaddy and NameCheap have an easy link to get this
code so you should have no problems.

Not sure about other registrars concerning this matter so it's
worth checking before transferring what problems other people may have encountered.

Terry

I have briefly looked into both domain and hosting reseller accounts, but have yet to determine 'if' I should go this route?:confused:

There's been many threads throughout WF stating that being a "hosting reseller" is a total nightmare. I personally want to explore this avenue later, as my business develops, but until I am offering complete packages, like a membership that includes domain, hosting, and training... it seemed the risk; at the expense of my inexperience is not worth it.

However, on the mention of becoming strictly a domain reseller, this might be worth looking into, as I currently have roughly 500-600 domains strewn across pages of research that could become valuable if developed in the right market or to the right buyer.

Thus, I am aiming to have 500+ domains by this time next year.

I try to limit myself to purchaseing 30-40 domains per month right now, fearing that come renewal time, this could be very costly and out-weigh any potential profits being made through site development or domain sales.

At first, the domains I purchased were specific to a niche site, highly searched keyword(s), or associated to a project I had planned to construct and develop.

But, as time went on, I started viewing domains like empty real estate lots.

Naturally, the 'keywords' give some indication as to the neighborhood, and with proper research, one can easily gauge the market to determine if a .com .net . org or on a rare occasion, those oddball tld's like (.me, .ws or even a .info) might hold some future demand(?) as limited tld's in those neighborhood's become more scarce.

I see it like this:

500 domains @ $7.49 (per year) = $3,745.00 investment annually. Yes, at first, this is and should be seen as an expense, more over that of an investment perhaps.

However, I was accustomed to spending an average of $50+ per day in fuel to run a small offline service business. Even "if" I only worked 300 days a year running that biz, that still adds up to $15,000 per year!!! (*This excludes maintenance, insurance, etc...)

So, while I am still a bit green to the art of domain investing, it seems a much safer investment then that of the heavy reliance, and huge expense my offline business placed just in commuting costs.

I am NOT making the kind of money I made offline yet, but when I do, it wouldn't surprise me if I end up funneling some of my future profits into buying more domains, and getting into to the 1000's within the next 2-3 years.

The only way I see this plan failing, is if I don't do the work involved to surpass my income from a small portion of the developed sites.

GoDaddy annoys the piss out of me with their constant reminders. Even after you let something expire "are you sure?" "are you sure?".

I get stuff in the mail, I get emails like 3 months before something is going to ever expire. Just a pain in the butt.

Well this little thought of mime concerning domain renewals
seems to have created some really interesting suggestions
and answers in this thread.

I had thought of being a reseller some years back but
never too the move, in hind site I can see I should have
perhaps done that.

Plus the phoning the company for a discount on auto-renewal was
something I had not considered.

Many thanks everyone.

Terry

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