This is not a new idea so I was wondering if it could still work. It goes like this. Find a range of local businesses who could use a domain name that describes their business and location, eg, PenrithHairdressing.com. Many small businesses will have the name of the owner in the domain name which doesn't help if someone is looking for a service in a particular area (like a hairdresser in Penrith). Focus on suburbs rather than cities, particularly suburbs that have a range of service industries present (Car dealer/Dentist/Accountant etc). Make a list of the businesses that could use a more focused domain name. Use Google Keyword tool and research the number of LOCAL searchs for different combinations of location/business. Buy a Domain name that returns a reasonable number of monthly searches. Next, send an email to several businesses (In this example, Hairdressers) and offer them the Domain Name. Make sure to let them know that you are making this offer to serveral other people. In your email, include a screenshot of the Keword search result to show that a focussesd domain name can make them money. Thats as much as I know about this idea. I know that domain names can't be resold for 60 days and I don't really know if this is still a viable business model. What would be a good way to determine a reasonable asking price? This method seems to be workable, but there would be details about the process that I don't know about. Any thoughts anyone?
Better idea would be to buy a car magnet from VistaPrint and post your GoDaddy affiliate link. Buy something like UploadYourSite.com (that's my affiliate link) and then have it automatically redirect to the affiliate link GoDaddy gave your account.