Buy a business or sell a business? There are some marketplaces where you can sell your business or buy a a new 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. The website Ugo was founded in 1997 as Unified Gamers Online (UGO) by Chris Sherman.Action World Inc. bought them very early on and decided to rename the business. They changed the name to UGO Networks, however the name didn’t stick for long as it was once again changed to Online Underground. Eventually it was sold on to the Hearst Corporation approximately $100 million. Fotolog was founded by Scott Heiferman, in 2002, and unfortunately the site began to have problems just 3yrs later in 2005 when the amount of visitors and members started to become too much for the websites servers. The website itself currently receives over 20 million unique visitors each month and was sold to Hi-Media Group for the tidy sum of $90 Million.
Advices for buying a business: Let’s say your business is well-structured and it’s a legal entity. In this case, be open to small businesses loans to make it easier for a buyer in the United States, which is where most of your potential buyers might be. Nowadays, that’s the way most people buy small businesses. They take a loan from the bank, and once they know the business they’re buying is a USA entity, it makes it everything easier for them to get a loan. If the business is not American, they won’t get the loan. This will leave you with less cash and make the whole structure much less beneficial for you. If you know ahead of time you want to sell your business, maybe in 12 months or more, restructure your legal entity. Consider setting your company in the US, in the UK, or any other place but make sure you get advice from a broker because this structure will give you a better evaluation and, eventually, more bang for the buck. Remember that buyers want practicality and even though your buyer might not be in the US, my experience tells me most of them are. Read more details 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.
Website Properties – If you read Website Properties homepage, you get the feeling they are focused more on sellers. Confirming this with a long list (17,000 during January 2019) of strong buyers and a small dealflow (only 21 websites (January 2019)), so I haven’t included them in the top marketplaces with Flippa, Empire Flippers, and others. Supposedly they have been in business for 15 years, but the web archive only shows data since 2007 (which is still a very respectable track record!). Their website may occasionally feel a little bit dated, but with a nice design and a few dedicated illustrations to highlight the websites they have for sale. Their blog is updated with solid advice to website investors! Deals are ranging from $25,000 all the way up to $10 million. (Wow, Canabis.net is currently being sold).
Craigslist is a no-frills, essentially text-based marketplace for virtually any and all products sold. The site is categorized by Country, State, Territory, with listings from the United States to Africa. Clicking on a specific State or Territory allows merchants to post products to sell based within the “For Sale” and “Services” sections. Once registered merchants can create a Craigslist post and upload an image and description; the post “masks” the contact email so that the seller remains anonymous to individuals looking to purchase items or services. Craigslist has the look and feel of old-school online forums; there are no product amount limits, no buyer or seller programs, and few restrictions. A good place to sell products but not the best place to drive your business marketing strategy. You might be surprised by the sales volume you get off Craigslist.
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. BizForSell works as a hub for business brokers as well. Business sellers can search and contact business brokers on the website to assist them with the selling process or business brokers can post advertisements themselves to find buyers of their clients’ business. All the related stakeholders can help each other this way through BizForSell connection. Source: https://www.bizforsell.com.