How to Find a Website Broker to Sell Your eCommerce Business
We get it. You’ve worked countless hours on developing and growing your eCommerce business, so it’s natural to feel nervous about selling.
However, eCommerce businesses are a highly desirable asset in the current market, and the right sale could lead you to greater profits and opportunities than you ever imagined when you first got started.
When Should you Sell your Ecommerce Business?
We’re really going to break this question up into two smaller inquiries:
When do you WANT to sell your business?
When is your business READY to sell?
… because the two don’t always line up. There has to be some prep work involved to get the answer to both of these questions in a similar timeframe. So, let’s begin with number one.
When do you want to sell your business?
To accurately identify this timeframe, consider why you’re selling the eCommerce business at all. Maybe you have a new project you’d like to move onto. It may also be that you do not know the process of selling. If you’re contemplating the process and wondering if you should use a broker, explore the benefits of using a broker to sell your business at HedgeStone. Learn more about the advantages of using a broker in the business selling process.
When you’ve established the answer to the “why”, you should have a clearer idea of how soon you need to sell. No matter what, give yourself at least a few months to work with a website broker, prepare for sale, and find the best deal. Selling your eCommerce business impulsively could lead to a huge loss in profits.
Speaking of profits, that brings us to the second question.
When is your business ready to sell?
To maximize your profits from this sale, it’s imperative that your business is in the right stage for sale. Buyers will want to see that your eCommerce business is either-
- Experiencing an upward growth period
- Experiencing stable profitable sales
Look at the past year of monthly revenues and compare it to the acceptable sale price you have in mind. Do the two coincide?
Also, consider the current market trends. Is your niche in a state of increasing or stable demand? This will help your chances of landing a profitable sale.
How to Find the Best Website Broker
The “best” website broker is a pretty subjective term and depends heavily on your eCommerce business and your specific goals in selling your website.
How Much Do You Think Your Website is Worth?
There are certain website brokers who specialize in websites $20k and above, and others who specialize in smaller sales. Consider where your ideal selling price is and find someone who has experience in (and is willing to take on) a sale in that price range.
How many experiences Do They Have?
Looking at a website broker’s past experience is a huge indicator of their success rate. How long have they been in the brokerage business? Do they have a good rating from previous clients?
Are their Services Worth the Price?
What services are they offering, and for what price? Some website brokers, like Store Coach, offer all-inclusive brokering services, while others may only assist in a handful of tasks. Be sure that their pricing accurately reflects the level of assistance they offer.
Pro Tip: Pay attention to the additional fees. A low brokering fee may look enticing but be sure to add up any vetting or upfront fees as well. Also, many website brokers charge a listing fee or due diligence fee upfront, brokers like Store Coach do not.
Are They Having Success Selling Stores Like Mine?
Every website broker will tell you that they can get your website sold for you, but we recommend looking at their actual track record of selling your type of site. By “type” of the website we mean the model of the business being sold(i.e. Amazon Marketplace, dropship, traditional stock & ship, etc.).
We understand that selling your eCommerce business can sometimes feel like giving away your first-born child but, unlike a child, the right price is definitely worth it. Our biggest tip in selling your eCommerce business is to do the research. Find a website broker who will care for your business as much as you do, and you should have a very rewarding and lucrative experience.