I am now a full time domainer! (1.Viewing)

Active Topics New Topic
MapleDots

MapleDotsMapleDots is verified member.

MapleDots.ca
Community Guide
Joined
Nov 2, 2020
All Topics
2,035
Posts
8,419
Likes
7,202
From
Waterloo, ON
Country flag
full.jpeg



I am currently liquidating two of my businesses and am now a full time domainer.

What does that mean for me?

It means I will have no other sources of income outside of that job.

I am doing well at domaining and looking at the numbers from my last 5 years I have decided the income is enough for me to make a comfortable living without having to devote any more time to other endeavors. I have to say I am excited about this especially because it frees me up to do much more travelling than before. Currently my online store and business were time intensive, I never really got time to myself without the phone ringing or someone showing up at the door.

Domaining is quite different, I had my latest sale while on holidays in Mexico and I did the negotiating over the phone sitting on the balcony of my room overlooking the ocean. If I only spend half as much time working on my domains as with my other two jobs then I will be exactly where I want to be.

So wish me luck and count me into the relatively small group of people on dn.ca that are full time domainers.
 
Last edited:
MapleDots said:
So wish me luck and count me into the relatively small group of people on dn.ca that are full time domainers.
Click to expand...

That actually gave me an idea to make a special badge for Full Time Domainers

This will be an indication to users of which members make a living exclusively from domaining.

I know rlm @rlm is a full time domainer so I will assign him that badge as well.

If anyone else here is a full time domainer please let me know so I can assign the badge.
 
Last edited:
MapleDots said:
Domaining is quite different, I had my latest sale while on holidays in Mexico and I did the negotiating over the phone sitting on the balcony of my room overlooking the ocean. If I only spend half as much time working on my domains as with my other two jobs then I will be exactly where I want to be.

So wish me luck and count me into the relatively small group of people on dn.ca that are full time domainers.
Click to expand...

Yes, that's the whole point of domaining. The ultimate lifestyle and even retirement job. Do it from anywhere.

And it's all about hitting that critical mass to get stable income, a nice mix of bread and butter sales, meat and potato sales and then with any luck the occasional kobe beef and truffle sale. That critical mass size means you'll also have painful monthly renewal bills if you don't have sales steadily coming in to cover it though. Re-investment can also be expensive and escalating too. So pay those renewals in advance as you celebrate big sales. Helps smooth out the inevitable slow periods.
 
MapleDots said:
Looking for some input here...

1. Full Time Domainer
2. Domain Name Pro
3. Professional Domainer
4. Other - please specify
Click to expand...

It's a tough one - I'm not sure if there is a meaningful or easy label to apply. These labels can just be claimed/made-up by anyone, just as anyone can say they have a "premium" domain name.

Any use of the word "Pro" or "Professional" could be claimed by anyone who has ever sold any domain, so not sure that is actually meaningful.

I suppose you could qualify "full time" as being someone who has the vast majority of their income from domaining, so you could just use that terminology based on their word, but there are a lot of scenarios to consider. You could be in high school with domaining being your only "job" and think that means full-time. You could be comfortably retired with a good income from investments/pensions, claim to be full time domainer yet not really need to make money domaining simply because you've already got your expenses covered. You could have a spouse that makes 90% of your family income, but claim domaining is your full time job with little need to actually support yourself from it. You've also got people who probably could be full-time domainers if they had to, but, they make such good money and/or benefits from their primary job that it just doesn't make sense to give it up. So I guess I would say that Full Time Domainer is more of a lifestyle choice, not any real indication of success or anything like that.
 
All good points but I'm more looking at the title for newcomers to have something to look up to. In other words, are there members making a living from domaining. I talked to my wife while on holidays and I've been meaning to make the move for the last five years. I bought some pretty big catalogs and took quite a risk. I let hundreds of useless domains expire but cherry picked the best ones. Then looking at my figures I deduced there was enough income there to fully support a comfortable lifestyle.

Mind you cashing out of my other businesses is pretty sweet too and adds significantly to the pot but with everything getting so expensive one cannot rest on ones laurels. I would not have made the decision if I did not think I could not make a comfortable living doing it. By a comfortable living I mean an income equal to what I made in my other business doing just domaining.

Really it just means moving the effort from one sales job to another with the bonus being that carrying costs for domains are minimal considering you can 100% write off the renewal costs. Another thing domainers may or may not be considering is acquisition cost, I see so many domains sold for 10 or 20k where afternic takes a huge chunk and the domainer does not consider acquisition cost. If you buy for 10k and sell for 20k but pay commission on 20k you technically only take home 25%. So it's important to track costs and treat it like a real business because for income taxes you definitely don't want to pay on the 20k.

So by full time domainer I'm basically talking about a title to domainers that treat it like a real business, the ones that pay taxes, collect HST, track costs and make a living from their catalog.
 

Sponsors who contribute to keep dn.ca free for everyone.

Sponsor
CanSpace
CIRA
FullHost
NameNinja
WHC
Donors

Sponsors who contribute to keep dn.ca free.

Members who recently read this topic: 43

Back
Top Bottom