Peter Askew is a domain investor who I admire because of his knack for website and business development on nice domain names. Earlier this year, I wrote about his VidaliaOnions.com business, and I also wrote about the launch of BirthdayParties.com. In addition to these lines of business, Peter also found time to build and launch Brevard.com, a geodomain with a focus on the town of Brevard, North Carolina.
This afternoon, Peter shared the story of how he built, launched, and ultimately sold Brevard.com. Peter’s story was shared in a series of tweets, and it’s a pretty quick read.
Based on my experience with owning, building, and ultimately selling geodomain names like Lowell.com, Burbank.com, and Newburyport.com,the geodomain development business is challenging. There are some people who have done well with their geodomain-based businesses, but for many, it is more of a labor of love than a highly profitable endeavor.
Here’s Peter’s Twitter story about Brevard.com:
sold Brevard/.com 🥾
Attempted to dip my toe into geo world, focused on a location I have strong ties to@JDoppelt was a tremendous help in early development (she runs PigeonForge/.com)
In her wisdom she cautioned me, as Brevard NC is smaller destination
(a thread:)
— Peter Askew (@searchbound) December 20, 2019
smaller destination = fewer hotels = more challenging to generate $ as that market actively advertises
I (foolishly) felt the outdoors industry might be able to support the endeavor
Was shooting for $30k/yr in rev as side project
I got nowhere near that goal.
— Peter Askew (@searchbound) December 20, 2019
Brevard began hijacking time from BirthdayParties/.com
And that’s a no-go for me.
That’s when I realized it wouldn’t work, as much as I admire the destination.
— Peter Askew (@searchbound) December 20, 2019
About a year back
I had been introduced to the Chamber of Commerce up there
and established a good relationship with them
They admired the domain (as they operate off of ExploreBrevard/.com)
— Peter Askew (@searchbound) December 20, 2019
so I reached out to them and gave them first right of refusal on the sale
Brevard is a strong real estate market – I planned to pitch to that market if Chamber fell through
That wasn’t necessary, as the Chamber accepted (after small back & forth negotiation.)
— Peter Askew (@searchbound) December 20, 2019
Domain pushed yesterday, wire hit today
Didn’t lose money, thank goodness – made about 55% ROI (after acquisition & development costs)
I sorta feel like I have room for one more project (along with Vidalia & BDAY), so I’ll continue to monitor expired domain name auctions.
— Peter Askew (@searchbound) December 20, 2019
Btw, if you’ve never visited Brevard NC, I highly recommend. Consistently ranked as a top 5 best mountain biking destination, it’s an outdoor oasis. Waterfalls everywhere, even one you can slide down (Sliding Rock). Hiking trails, fly fishing, breweries, Blue Ridge Parkway + more
— Peter Askew (@searchbound) December 20, 2019
The David and Michael Castello Brothers and their Nashville.com might have the best first hand experience in what is involved in operating a geo dot com
Thanks for sharing Elliot! Love this story as I’m in the middle of developing a geo domain of my own. Will be a learning adventure, as y’all are much more accomplished than little ol me!
Brevard County Florida has plenty to offer in attractions, hotels and tourists. Brevard.com would be great for that destination. When I saw the article it was the first place i thought of.