You might have come up with one of the best ideas or innovations around but as many have found to their cost, if you don't select your domain name carefully or make a mistake by choosing the wrong suffix then you are already up against it in terms of making your idea a success.
Many would-be entrepreneurs have spent many hours deliberating over the name of their proposed business and then find that the perfect domain name has already been taken. It could be a costly mistake though to think you have fallen at the first hurdle as many registered domains don't actually have a website associated with them and may have simply been snapped up by speculators.
Aftermarket domains are often put up for sale via auction sites and the good news is that the marketplace is not quite the shark-infested territory it once was so there is a fair chance that you might actually be able to get the domain name you want at a fair price.
The price of an existing domain is often dictated by a number of factors such as how much traffic it generates and how memorable or ‘brandable' it is but you can also sometimes pick one up very cheaply if its current owner allows it to expire.
When you consider that up to 20,000 domain names expire every day, there is a good chance you might get what you want for a lot less than you thought. Check this infographic to guide you in buying registered domain.
Note: Click the infographic to view in full size.
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