With the world of online sales always growing and changing, you may be wondering: “How Do I Sell my Ecommerce Business?”
Selling an online business comes with a lot of considerations that a business with only a physical storefront doesn’t have to think about. But, they share a similar amount of stress that can come with not knowing what paperwork, documentation, and more you need to ensure a clean handoff.
By working with Advanced Business Brokers, you get a customized marketing plan on how to attract business buyers that want to buy an online business, as well as business valuation consulting and support to juggle the intricacies of selling your business.
Collecting relevant information about your business can help you take the first important step toward a smooth transition. When working with a broker to sell ecommerce businesses, you’ll be asked to have different paperwork ready. Some things that you may be asked for include documentation such as:
Together, all of these show qualified buyers exactly what kind of investment that they’re making based on their perceived value of your business.
After collecting information, you next should speak with a broker. All the assets that your ecommerce business has available need to be considered for the valuation of the business. Beyond what information the paperwork has, a business broker helps you come up with a business plan for selling and works through what the sales process will look like for your unique situation.
One of the biggest decisions to make during this process is determining with your broker what exactly the new business owners will have available to them once they take over your ecommerce site. Potential buyers care about what resources they’ll have available to continue to grow organic traffic of the business, manage social media platforms for the business, and more. Some things to consider with the sale include:
Once you determine what the right buyer will have after they purchase your business, you have to determine what type of transition support you want to offer. To sell your ecommerce business, most buyers will be looking for you to help them serve the customer base and continue to reach other prospective buyers.
The next step comes with meeting your potential buyers. During these meetings, the current owner discusses any necessary legal documents to discuss any financial information of the company, the timeline for due diligence, and more. Generally, all of this will come together in a letter of intent (LOI) that is mutually put together by both the buyer’s team as well as yours as the seller.
Through the help of your business brokers, when you draft an LOI, they will make sure that every detail is covered and nothing is missed in the entire process.
After the LOI is signed, the due diligence process starts, allowing the buyer to continue to research the company. Brokers can help you work with your attorney to draft the purchase agreement. This document details the main parts of the deal. There will be some negotiation on the wording and details of the purchase agreement, but your broker will help you along the process to ensure full understanding of the deal.
Selling your ecommerce business can be a daunting idea, and that’s why brokers like Advanced Business Brokers are here to help. We strive to make the process seamless and make sense to you every step of the way. If you have an ecommerce store that you would like to move on from, make sure to contact our team to start the process of selling!
If you’re thinking about selling your business and don’t know where to start, consider speaking with our team here at Advanced Business Brokers. We specialize in brokering and advising exit plan strategies for various sizes/sectors of businesses.