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Selling your online business is nothing similar to selling a traditional brick and mortar company. In some ways, it’s much easier to sell an online store, and in other ways, there are additional challenges but it is surely overwhelming.
There are various reasons why an ecommerce business owner would look forward to putting his ecommerce business for sale. It could be because he has reached a pivotal moment of growth where he’d need to invest and expand to continue running the business. Or perhaps he wanted to sell from day one, and planned to flip more ecommerce websites with the profits from this sale.
Whatever the reason, the process of selling an ecommerce business remains the same. Here is the step-by-step guide to selling your ecommerce business with the best quote.
5 Steps One Must Follow To Sell An Ecommerce Business
1. Prepare Your Website For Sale
Take a moment to put yourself in the shoes of a prospective buyer. The very first thing they’re going to do is visit your website. Whether you own an Amazon ecommerce business or a small venture, you need to make sure that your amazon product page or website is clutter free, easy to navigate and customer friendly. Do not go for a complete website overhaul but some minor tweaks to make it better.
2. Update Your Inventory
Update the product images, optimize the descriptions and make sure that you don’t neglect the business as you’re preparing for sale. Not only will this help you get organized, but it’s also good for your sales metrics of your ecommerce site for sale.
3. Organise Your Financials
If you’ve been managing your books by yourself so far, it’s time to bring on a professional before you can proceed with selling the online store. At a minimum, expect to have the following financials prepared:
Last 3 years of tax returns, income statement, cash flow statement and balance sheet.
4. Consult An Ecommerce Aggregator
If you are a brand owner, it is extremely important for you to ensure that your brand is in the right hands and that you get a fair valuation for your business. Look for an aggregator ecommerce platform that acquires and accelerates your brand, giving you a fair share of the profits. This is when Una comes into the picture. After you provide some basic information, Una does the heavy lifting. If your business fits our model, we’ll evaluate your company and financial information and prepare an initial offer.
5. Complete The Sale
Execute the sale of your business, carefully go through all the terms of your agreement and ensure that you get paid through a secure process. These days, many online ecommerce aggregating companies like Una also provide attractive terms such as profit share, which allows you to benefit in the upside after the sale, which is also a great way to stay connected to your business, and be a part of its success.