When deciding to purchase an internet business for sale you should take into consideration the type of business that not only you want to own, but that someone would want to purchase from you down the road. Of course, you do not go into buying an internet business in hopes of selling it, but you need to think ahead to be prepared to sell your internet business in the future. In this post we will share with you tips on how to prepare and sell your internet business in the future.
It does not matter the circumstances, when the time is right, you want to be able to sell your online store so it can continue to grow even though you are no longer the CEO.
An internet business is somewhat like your home – it is an investment into your future. You turn the key to open the door to opportunity, but should realize you need to take the time to make it your own. When you purchase a new home you make modifications to make it even better and more valuable for the future – your online business should be no different!
Build your website business up – make it the best it can be. You will want your business to appeal to others and the best way to do this is WORK it! Your focus should not only be on the products and service you provide to your customers, but your SEO and marketing efforts as well. You want to build a good foundation for your business so it can easily appeal to others. You will want to make valuable improvements to your business in hopes of selling it for even more than what you have invested into it.
The key is to increase your products, increase your vendors, increase your SEO, increase your marketing; all in order to increase your sales. Which will help to increase the overall value of the business in which you are dedicated to building!
Deciding to Sell
Many factors can play into the decision to sell your internet business. Maybe you want to sell the ecommerce business you have built in one industry in order to start a new website in another industry you are passionate about. Maybe it is for personal reasons that you did not foresee when you originally purchased your online store. No matter what the circumstance it is perfectly fine to sell your business. Again, just like your home, you have personal ties to the business. You have put time, money and lots of hard work into building the business so you want to be able to benefit from selling it. Therefore, you need to be prepared as you put your business on the market.
Preparing to Sell Your Internet Business
Have your website up-to-date. It is crucial to keep your products, content, social media and blog current. You do not want a prospective buyer to see old information posted as it can turn them off from even requesting more information.
You will also want to ensure your accounts are up to date and preferably professionally prepared. You will need to be able to verify sales performance if asked by a buyer. Therefore, you should have everything in order even before listing y
our business for sale.
Another area you will want to prepare is data about your recent traffic levels. Buyers will want to ask not only know about your sales, but traffic as well. This is a tell-tell sign of the SEO and marketing work you have done for the business. Having valuable traffic data is a great selling point, plus it helps to validate your hard work!
Internet Business For Sale
Knowing where to list your internet business for sale is another key component in being able to sell the business. There are many different types of business listing sites out there, but we would like to suggest a few to you. Before listing your business for sale – do your homework. Find the right listing site that will give you the best exposure within your budget.
Looking for an affordable method to you’re your business, check out www.flippa.com, or even Craigslist. Flippa has better rates than some of the other business listing sites out there. Searching for a site specific to selling business as there are various ones out there. The key to listing on these sites is finding the listing fee that fits your budget. Having good exposure is key and here are three business listing sites we suggest – www.bizbuysell.com, www.businessbroker.net and www.bizquest.com.
Do you need a business broker? If you are “green” in the sales department or feel like you need some assistance. Then it is advisable you look into hiring a business broker to help facilitate the sell of your business. Matt Maxwell from BusinessBroker.net makes a valid point about hiring a business broker. He says, “Selling a business can be a complex process and it often is advisable to seek the help of a professional business broker. Business brokers are akin to a real estate agent in the home selling/buying process — they help facilitate the sale or purchase of a business. Brokers can assist in many ways – they can help you properly price your business, market your business for sale, and once a buyer is secured can help facilitate the transaction. Because brokers have done many transactions, their experience is invaluable to help you avoid potential pitfalls and overcome potential obstacles which may slow or stop the sale of your business. Brokers are well connected and can bring to the table an experienced team of accountants, attorneys, financiers, and other needed professionals that help make the deal happen.”
We want to share a bit of final advice, it is simple…..be patient and be realistic. It will take time to find the right buyer for your business. Do not rush the process, do not get frustrated, but be patient. You also need to be realistic. It is important not to overprice your internet business for sale. Before pricing your business it is best to compare your business to other similar types of businesses for sell in order to get an idea of what price range is appropriate for your business.
When deciding to sell your internet business reflect on your experience, the knowledge you gained in the process and congratulate yourself for a job well done as you pass along your creation to the next ecommerce entrepreneur!