So im thinking of buying out domain names to local businesses that start up (car washes, restraunts etc). Like a car wash in till town, buying out tilltowncarwash.com .. Then turning around telling them I have their name and seeing if they would like to purchase for a smalll amount (500- 1000 dollars). Does anyone have any experience doing something similar to this? Have you been successful? Its a free market place, so its fair.
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Save your money. If they can’t or won’t pay what you want they’ll just call it something else.
If you are not making use of the name all they would need to do would be dispute your claim and you would lose the domain. Asking for payment would show that you were acting in bad faith.
You may not make much money, it is better to sell them services