asd

Everything You Need to Know Before Selling an Ecommerce Site

Selling your business can seem too complicated: you don’t know where to start, who to contact if it’s the right time… In short, selling is a vague step for many entrepreneurs when it comes to a good opportunity To monetize many years of work. If you’re planning on taking advantage of the online sales craze by reselling your merchant site, here’s how to proceed and our advice for a successful sale!

Step 1: Introspection

In order not to waste your time it’s important to start by asking the right questions: Are you really ready to quit? Why do you want to stop? In what time frame?

If your site is profitable then it will take you 1 to 6 months to find a buyer. The smaller the site, the faster it will be sold. In any case, it is never a good idea to be hasty. The urgency will put you in a delicate position to negotiate. If you know you have to stop or stop, it’s better to anticipate and prepare for your transfer to avoid any disappointment!

button test

Step 2: Get Informed and Surround Yourself

Take the time to understand how the assignment will go. Don’t hesitate to talk about it near you or approach an entrepreneur who has already sold an e-commerce business, if you know of it, advice should be given.

You can also get in touch with a sales specialist on e-commerce sites who will take care of the sales for you. The site resale market has become more and more structured in France in recent years. And if you are looking to resell your e-commerce site then this is great news for you! In fact today there is a real market for buying/reselling websites, with the potential for getting and delegation, which was not there a few years ago.

I founded one of these rare intermediaries (there are very few), so my opinion is essentially a bit biased on whether or not to use this type of specialist and I won’t go into detail. Just know that there are experts on call when you need it—and that’s reassuring to everyone.

Before any sale it shall be necessary in all cases – singly or together:

To get an idea of ​​the market, don’t hesitate to take a look at online ads. To know: There are many online tools to give you a free estimate, some specialized in the digital business.

  • Understanding Ecommerce Resale Taxation

It is important to fully understand what you are going to sell, in what form and the tax and legal implications of your choice. You really need to check what the tax rate of your assignment will be and if there are any specific steps to take upstream. Don’t hesitate to contact your accountant at this point, he or she will give you good advice or refer you to a competent person. You can take a look at this summary of taxation related to e-commerce sales for a more clear view.

  • present your business

This is a comprehensive presentation of your site so that the buyer knows what he is dealing with.

You have to understand that a buyer or buyer will be afraid that you are hiding something from them. Therefore it is necessary to collect a certain number of documents or supporting documents.

The best part is to go even further and organize these documents by presenting them as a clear and complete “sales file”. To help you out here is an outline as well as a summary of the documents or supporting documents you will need to gather for your assignment.

Expect this part, buyers are often in a hurry to find out more information – it is better not to make them wait so as not to lose the opportunity!

Once these prerequisites are met, you can proceed to the official sale.

Please note that when you sell, you must also notify your creditors and in some cases your employees.

Step 3: Find a buyer

There are many options for finding a buyer.

You can do :

  • Use your network to make your intention to sell known;
  • Post ads on one of the advertising platforms specializing in selling e-commerce sites. You have the option to remain confidential on this behalf or not;
  • Go straight to canvas companies that may be interested.

Note: If you have chosen to entrust your transfer to an intermediary, this part is certainly taken care of by the latter.

It is important to filter requests carefully so as not to waste your time. This part can become time-consuming very quickly.

Step 4: Negotiation

The more you do it at the right time, i.e. when your business is in progress stage, the more hand you will have in the conversation. Selling a company in decline or financial difficulty would actually be more difficult.

Don’t be surprised if the buyer wants to negotiate, this is completely normal. He’ll want to go into detail to fully understand what’s on sale. Frame the exchanges with a confidentiality agreement and letter of intent. You will be able to protect yourself from potentially curious or malicious people.

Step 5: Signature

Depending on the amount involved, be sure to go through a professional, especially to secure the payment!

You can contact a notary or lawyer. They will also take care of administrative paperwork and avoid any risk of tax adjustments or voiding of the contract. Be sure to choose a service provider that is used for e-commerce transfers.

Note: These costs may be partially or fully paid for by the buyer – at this point to be negotiated.

Step 6: Handover

It is possible (and even recommended) that the buyer may want to stay together for some time in the transmission phase after signing. It is up to you to decide in advance how much time you want to spend with him. The goal is to make broadcasting go as smoothly as possible so that your company continues on its way in the right direction!

Great broadcast to all!

About the Author

Marie-Laure Blasquez, co-founder of StoryBee, a specialist in reselling e-commerce sites.

linkedin

Recent Articles

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox