DOMAIN NAME AUCTION WATCH
DOMAIN INVESTOR PROFILES
DEB GOWRIE - MARIJUANADOMAINDADDY.COM (PT 2)
We continue our profile today of Deb Gowrie from marijuanadomaindaddy.com.
It's certainly an interesting niche and if you checked out her site yesterday, you'd have seen she has some fantastic names.
Let's continue with our interview.
How do you see the marijuana market developing?
This is a loaded question and I really could go on and on about it. There are so many bills at different levels in the state and federal governments. There is so much research coming out that is positive for marijuana. Then there is medical versus recreational. I do believe that our country will legalize medical marijuana rather quickly. There is an incredible amount of government support for that to happen. Whether it will be a state to state or a federal issue is still to be seen. I also feel that the more that do legalize it the more that will legalize it. Let's talk for a minute about Canada. Justin Trudeau, the relatively new Prime Minister of Canada has legalizing marijuana nationally, as number one on his list. He is 100% for it and actually used it in his campaigning as a positive. He is serious and has said that marijuana will be medically and recreationally legal in all of Canada within one year. Of course, there are always bumps in the road but I believe Canada will be the first to go. If you get a chance to read up on marijuana in Canada try to do so. It is a real eye opener! Knowing the Canadian market about one-half of the names I own are Canadian. Mexico has also been doing a lot of squeaking lately about legalization. Their main reason is drug cartel control and breakdown. I wouldn't rush to buy Mexican but would certainly keep my eyes on it.
How often do you receive offers for your domain names?
We receive several offers a week, most of which we decline. Not because they are horrible offers at this point in time, but because their future value means more to is. Our buyer is a buyer who recognizes that fact.
Is the marijuana domain name market competitive?
There are many many domain investors. Well over 1000 in the marijuana industry but many of them have just one name or are not active. They are also flippers so they are not holding on for future profits. I try to connect with cannabis domainers that operate in the same way that we do. I strongly believe in knowing your competition and in many cases sharing ideas and experiences. You never know when you may need some advice. There are regular domainers who will sell average names for low prices. They make their money on volume. Then there are premium domainers who sell their names with future value attached. Some of our names are over $50,000. Here are many other companies who have sold domain names in the millions of dollars.
Your portfolio is mainly .coms but you have a number of new TLDs - what are your views on the future of these extensions?
Well, we really don't know the curve these TLDs will ride. I do believe they are coming and coming quickly. Let's face it .com is saturated and I have seen some very very highly priced alternative TLDs. They are different, they are catchy and their value will most definitely go up. Extensions such as .guru, .biz, .technology, .today, .expert will be everyday language just as dot coms are now. Another thing to keep a very very close eye on.
Do you invest in any other niche domain name markets?
Not really. We have a few urinalysis drug testing domain names. When you see an industry taking off, such as the cannabis industry you have to take a look around. You have to think, ok what other industries will grow due to this industry growing. One example is workplace drug testing. Even if it is legal to smoke marijuana recreationally your workplace can still administer a urine test at any time and can fire you if you fail. So we can assume that more urine testing supplies, facilities, mobiles etc will be starting up. So I grabbed eight or so and we will see what happens.
What is your preferred method for selling your portfolio? Company website, marketplaces, personal network, cold outreach....?
Right now I am just trying to make people aware of our company so that when the time comes they think "MarijuanaDomainDaddy". I do have a website and I drive people to that site by using google ads. I also try to reach out to other brokers and industry professionals. I don't do any cold selling or marketing at all. I am on Twitter and am part of a few marijuana and domain business groups.
Thanks to Deb for taking part in the domainsignals.com investor profile. What do you think of Deb's strategy? Do you think her patience will be repaid? How risky have her purchases been?
We'd love to hear your thoughts on this niche market and Deb's methods and we'd love to hear from you about your strategies and your domains. Get in touch with Ross @ domainsignals.com.