Buy an established business
Self business selling and buying? There are a few places where you can sell your business or buy a an established business. Businesses are bought and sold every day, maybe you want to enter a new market or you want to exit a market. Maybe you think your business will develop to a new level with another owner and you reached the ceiling of how high you can develop it. Let’s see some successful business deals and discuss a little about places where you can buy or sell a business.
Any business can be sold! Even websites, that are not really businesses, can be sold for a lot of money. LiveJournal just as the name suggests was a virtual community where users could keep a blog or an online digital diary, through their free open source server technology. They didn’t stop there though, they had the software allowing users to easily create blogs and diaries online they even allowed for calendars, polls, and even have guest writers. The website sold for approximately $ 25 million to Six Apart in 2007. Bankaholic is the creation of founder John Wu who also created CB Land Investments. The website itself was an online banking marketplace which basically provided its customers with credit card offers as well as interest rates and personal financial advice. The website eventually sold for $15 Million to BankRate and now has a hefty team of banking and financial professionals behind it so who knows where it could go? maybe it will be worth double the amount in a year or so.
Tips for buying a business: Waiting too long, or not planning in advance, can cause many business owners to miss their window of opportunity. It takes an average of two to four years to sell a small business. Therefore, long-term planning is key to any successful business sale. By keeping updated records, a detailed business history and sales portfolio on hand at all times, it will make your planning pay off. You just never know when that perfect buyer may walk into your business and make you an offer you just can’t refuse. Succession planning is a major misstep by retailers. Even if you do not have a successor who is a relative, you are still thinking like a succession planner. The person “succeeding” you needs to be set up for success. If they see you have been planning and considering this for quite some time and that it’s not a quick “I’ve had enough” sale, your price will be much higher. Add to that the confidence the buyer will have in a retail store purchase if they see there was a strategy for the sale and that it’s not driven out of desperation. See extra info on Selling a business almost free of charge.
Shopify Exchange is one of the newest marketplaces you can use to buy and sell online businesses, and it’s the only platform that specifically focuses on Shopify businesses. There are advantages and disadvantages to this, but the main advantage is that when you buy an online business for sale on the Shopify Exchange, you know you’re getting a Shopify store. Since Shopify is one of the top and most highly recommended ecommerce platforms in the industry, (we discuss why in our Shopify Review: The Pros & Cons of Selling on Shopify article) this is a good thing! It’s also great because Shopify sellers integrate their stores directly with the Shopify Exchange, so they can’t edit or change any of the data that gets pulled into their store’s sales listing like their traffic and revenue numbers. This means that you’re less likely to have any of that important information withheld from you by the seller.
After listing Flippa (a marketplace where I am most active) and Exchange (newest marketplace) it’s time to start mentioning more serious and reputable marketplaces. In order to list your website on Empire Flippers, the website needs to be making a minimum of $500 per month for 12 straight months. Besides this raised bar, there is a vetting process that a broker from Empire Flippers conducts. You absolutely have to have Google Analytics, and they double check your revenue numbers and proof. One very important thing you need to know as a buyer is that you only get limited info from their website. If you are interested more, you need to make a 5% refundable deposit. For example, if the list price is $26,555 you need to make a refundable deposit of $1,328. Unlike Flippa, you don’t see an exact domain name of the website being sold. You get a general niche and monetization methods.
eBay is one of the most-recognized online marketplaces in the world. Ebay offers a “Quick Start” guide showing merchants how to start selling in 4 easy steps. This marketplace offers sellers to list the first 50 items per month for free. Merchants can create a “My eBay” page from which to answer questions and view sales information Ebay offers information on listing your products with the eBay catalog, the Fashion Categories, and Sports Card Accessories to name a few. Ebay also offers business consultation (for free), a Business Efficiency Guide, and Seller Development Resources, which is a program eBay designed to assist merchants in successfully selling their product.
Want to find a great businesses to buy? Find it on bizforsell.com ! BizForSell is number #1 Go to for business sellers, business brokers and buyers. bizforsell.com is one of the biggest and most reliable business selling marketplaces in the world. We aim to solve the unique problems business sellers, business brokers and buyers have to face while selling or buying bussiness. We offer very convenient options for sellers, buyers, and brokers of businesses. Business buyers can easily browse businesses locally and find the best possible deal . With a fast-growing audience of sellers, buyers, and brokers, you can be sure of finding something suitable for you on this marketplace if you search! We provide solutions to sellers, buyers and brokers worldwide. Source: https://www.bizforsell.com.