The Nitty Gritty - Interview with RagsToRiches.com
This month we’re publishing an interview with Christopher, of RagsToRiches.com. As domain brokers, we always enjoy sharing how our clients have put a premium domain to good use. We also know that by publishing his story, it will help other entrepreneurs launching or upgrading their brand understand the process and importance of obtaining a premium domain name versus a hand-registered domain. We hope you enjoy the discussion!
Can you tell us about RagsToRiches.com, why you acquired it from Grit Brokerage and what you do?
RagstoRiches seemed appropriate for creating a cleaning business training course. I currently own a cleaning business and felt that the domain would be brandable, recognizable, and garner traffic. This is still the prevailing thought. I also own themillionairemaid.com which can also be used for this purpose.
Please share with us the tipping point on how you knew it was time to start the process of acquiring a strong, memorable domain name and challenges you faced?
I felt that I needed to seperate my current business from my venture so it could become a brand in itself. I knew it was important to think about branding from the get go and felt a strong domain that was easily recognizable and already being talked about in everyday conversations would lend to the success of the venture. Think about branding and marketing first because if no one understands or recognizes; or can associate your product or service to something already existing or will be a harder journey.
Did you have experience in purchasing premium domains in the past or was this a new endeavor for you? Or when did you first learn the power of a premium domain?
I have purchased premium domains in the past but have started to do so more now. It's like real estate, a premium domain name when held cannot be bought by another and the value if chosen well can appreciate with time just like an asset. In fact, if using a premium domain that's attached to a business, when the business sells it can add value to the transaction because it's considered intellectual property.
How did you know that acquiring your domain was going to propel your company forward? Did you know a memorable .COM would save money on marketing, lead to capturing more traffic, or make it easier to remember and promote?
I knew the right name would make or break a business. Spending more money up front was a cost but one that would help the business succeed and could be recouped later when selling the business.
Was there pushback internally or with the board on spending a significant budget on a domain, and if so, then how was it overcome?
I'm my own person so I didn't need to get approval. Can move just faster when you don't have to get agreement.
From the time you purchased the domain until now, what are some of the benefits you have already seen? Any benefits from the acquisition that you weren’t expecting?
I notice great traffic every month without any marketing efforts. I know when the brand is established this will bring me additional customers without having to spend additional on marketing.
How was the process of buying the domain through Grit Brokerage? Did having a professional broker helped streamline the process?
The process went smoothly and as expected. Would recommend them to anyone needing a broker.
Thank you Christopher for taking the time to discuss RagsToRiches.com, and best of luck with the business!