All Canadian .ca domains... (1 Viewing)

Thank you to everyone for you comments and suggestions.
I had mentioned to Eby that you are the professionals, and that I certainly value your opinions.

I will be making some pricing adjustments with the NorthBrand site, and make an attempt at the
leasing idea of implementing a yearly tier pricing as suggested by rim.

You might notice that the 10% off was the first to go…

Again I appreciate the support and the comments you have all made.

Sorry for the delay in getting this up - I still work for a living (aside from NorthBrand)

Regards,

don't forget taxes, domaining for me is a side job (not under a business) so the taxes I pay on domain sales are at my highest tax bracket of my employment income. Depending on your job income and province you're in, that can mean 20 to 50% of domain profits going to taxes. Ofcourse there are ways to reduce that hit like RSP contributions, etc, though not everyone wants to put all their domain profits into RSPS all the time, lol. And if your annual sales get high enough you need to start collecting GST. Maybe you've already thought of these things, but if not good to consider when pricing your domains, and before the end of the tax year.

domains said:

don't forget taxes, domaining for me is a side job (not under a business) so the taxes I pay on domain sales are at my highest tax bracket of my employment income. Depending on your job income and province you're in, that can mean 20 to 50% of domain profits going to taxes. Ofcourse there are ways to reduce that hit like RSP contributions, etc, though not everyone wants to put all their domain profits into RSPS all the time, lol. And if your annual sales get high enough you need to start collecting GST. Maybe you've already thought of these things, but if not good to consider when pricing your domains, and before the end of the tax year.

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Those are some good points but he will not have to worry about charging HST or GST because his sales have to exceed 30k per year for the sales tax to kick in. At $99 per domain that is 303 sales before he has to charge tax.

Personally I think one needs to register for HST right away because the $12 or so dollars acquisition (registration fee) will be taxed and he can get that back by registering for sales tax collection. If he does not do that then it is a straight loss.

Collecting sales tax is a beautiful thing, I love it because I can claim the taxes back on all my expenses, even when I buy pens, office furniture etc. The sales tax savings add up incredibly fast and make collecting sales tax definitely worth it.

NorthBrand said:

Thank you to everyone for you comments and suggestions.
I had mentioned to Eby that you are the professionals, and that I certainly value your opinions.

I will be making some pricing adjustments with the NorthBrand site, and make an attempt at the
leasing idea of implementing a yearly tier pricing as suggested by rim.

You might notice that the 10% off was the first to go…

Again I appreciate the support and the comments you have all made.

Sorry for the delay in getting this up - I still work for a living (aside from NorthBrand)

Regards,

Click to expand...

It is time to start selling additional services if you're not already. Setting up WordPress and customizing a pre-built theme can easily 10x your sale value but only takes a few hours worth of work.

I know quite a few people who you can outsource all types of digital services work to if you're strapped for time. Just send me an email.

MapleDots said:

Collecting sales tax is a beautiful thing, I love it because I can claim the taxes back on all my expenses, even when I buy pens, office furniture etc. The sales tax savings add up incredibly fast and make collecting sales tax definitely worth it.

Click to expand...

Agreed. Being able to charge tax is a plus in my book too as any legit business will understand its just a cost of doing business and it shouldn't affect your sales or sales prices (and they know they can credit it against any GST they collect in their business too).

So if I spend $100K on expenses, I've spent an additional $5K on GST. Then the first $5K in taxes I collect on my sales, I get to keep. Had I not had a GST # and collected that $5K, its just a loss, sort of a double whammy because your paying GST out but not collecting any back. And its way worse if you're in a province with HST instead of just GST...

Of course its not all fun and games, you have to pay an accountant to do your year end returns.

mcm said:

It is time to start selling additional services if you're not already. Setting up WordPress and customizing a pre-built theme can easily 10x your sale value but only takes a few hours worth of work.

I know quite a few people who you can outsource all types of digital services work to if you're strapped for time. Just send me an email.

Click to expand...

I agree that upselling other services (like hosting and web design) might be worthwhile. Its something I've thought about doing - just seemed like more effort than I really wanted to do... Had I started doing that 15+ years ago, I might have had a worthwhile list of clients built up by now generating recurring income.

rlm said:

I agree that upselling other services (like hosting and web design) might be worthwhile. Its something I've thought about doing - just seemed like more effort than I really wanted to do... Had I started doing that 15+ years ago, I might have had a worthwhile list of clients built up by now generating recurring income.

Click to expand...

It can be a hassle if you're doing everything yourself. While I started out as the digital "jack of all trades", I slowly moved away to only managing hosting for my clients and outsourcing the rest. Nowadays it takes me two or three hours a week to ensure things run smoothly.

Something I've been considering is offering a monthly package that includes a premium domain + web design + hosting, similar to Dan's lease to own program.

"Renovations' are now complete - NorthBrand is back online.
northbrand.ca

Looks good *THUMBSUP*

Definitely getting better with the pricing but personally I cannot remember even selling a domain under 1k.
My stand by amount has always been 5k, that makes me feel like I'm in it to actually pay for my renewals.


I once had a client ask me what justified 5k when he can register a domain for 10 bucks.


I responded with this...


Sir the pricing is not set by the cost of a single domain but by the cost of maintaining the expense of an entire portfolio of hundreds of domains and managing them for numerous years before they sell. So you are paying based on the size of my portfolio and the fact that I have reserved this domain all these years for you.

The only critique I have for your site is the repetitive disclaimer under each logo that says LOGO SHOWN NOT INCLUDED.

It says that 25 times per page when all you have to do is say it once at the bottom or put it into your TOS.

This project looks abandoned to me, none of the domains including the showcased paintrollers.ca on the main site resolves anymore.

The domains either fail to resolve or point back to whc.ca

Probably will all be hitting TBR eventually where everyone will bid more than the current selling price of $99

@NorthBrand would you like to chime in?

I hope I am wrong on this, but at $99 it does not carry the cost for the time and labour to make the logo etc.


PS. Even the ones that used to resolve no longer do: fetchy.ca