What is domain parking and pros and cons of doing this as a business

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Video Transcript: What happens if you decide okay you got the domain but then maybe you didn't start the business immediately and maybe you weren't able to sell the duck the the NIC domain name immediately or for the price that you wanted because remember you don't have to sell the domain name immediately you have a whole year before you have to renew it and so selling it quickly for a cheap price that's fine totally fine because then you can use that money to buy more domain names but you have a whole year to wait so there's an option for you because if you wait you can get somebody to buy a double or triple the price or quadruple the price if you wait so then you have this option of domain parking now the main parking let me explain first what it is it's basically have you seen those you sometimes you click on the side you go to a URL you mistype it and there's nothing but little ads and says you know the domain works but there's nothing but ads there and it's just kind of like an empty web site that's it it's a part to me and what happens is the owner of the domain gets paid when somebody clicks on those ads it's very rare but you get paid a little bit of money while you if you kind of get paid to wait for somebody to buy your URL for a more expensive price now let me give you the pros and cons of doing this it's a little time consuming to set it up but if you're gonna do this domain selling business if you're gonna pursue it why not give it a try you're not gonna earn a lot of money per domain unless it's something that's really commonly mistyped but you're gonna earn a tiny bit so why not it's a little bit like if you put your money in the bank and they give you 1% it's kind of like that here so it's a little bit of an investment it's a way to recoup your money without telling the domain and giving yourself it is it starts to make sense to wait a little bit more you're not so much under pressure to sell your domain immediately and to start a bidding out now that's just to get your money back a little bit to start a real business selling a parking domains now that requires an into a lot of domains and domains that are not particularly good as a future business but are usually something that's usually like a misspelled domain like if you get facebook or phase Beek or something or Facebook's obviously Facebook has already bought those domains probably I haven't checked but I'm sure they did but something like that words where it's a popular thing that gets commonly misspelled somebody's name a common thing like you know so like Donald Trump and if what are the common letters you can look at you can look at the keyboard and you can look at the letters that are adjacent to the letters in that name so there's a there's about ten or twelve letters in this name and you can look at the letters that are adjacent on the keyboard and those are the ones that are like commonly misspelled and so for example that would be a good strategy for buying domains that you would invest in as a part domain but the park domain requires you to get a lot of domains because they each earn a little bit so only the only may make a lot of money if you get a lot of them but in this course we're just really concerned with getting good ones and selling them so we're really just having a business on top of it so I'm not going to get too deep into parked domain parking but now you understand the pros and cons of the main parking.