Are you looking to buy a new website or business to add to your portfolio? Or are you currently running a business that you’re wanting to sell?
By far, the best way to find a new business to purchase or sell a profitable business that you’ve built yourself is to contact a brokerage.Brokers are services that specialize in helping investors and business owners buy and sell websites and businesses.
Whether you’re selling an advertising site, an eCommerce site, a business that’s built around offering a software as a service, a content website, your personal blog that’s generating revenue, or a retail operation, working with a broker is one of the best ways to get the maximum value from the sale when you decide to make an exit from the business.
Likewise, if you’re looking to purchase one of these types of businesses, a broker can help connect you with business owners that are looking to sell their businesses and help you during the negotiation and sales process to ensure you’re getting a fair deal on a profitable business.
As more and more retail operations are expanding into the digital world, both buying and selling have become a lucrative venture for many investors and business owners.
On top of the earning potential, owning a digital business has quite a few different perks.
The business is operating at peak efficiency 24 hours a day, 7 days a week, there’s no showing up to the office every day like a traditional job and business requires and you can make sales happen on autopilot when you have the right marketing systems in place.
How to Use a Broker to Buy & Sell Businesses
The most reliable and safe path to owning or selling a digital business is through working with a broker.
There are ways you can track down businesses by yourself, but they tend to be time-consuming and create situations where you could end up overpaying for a business you want to buy or undervaluing a business that you’re attempting to sell. Business brokers have a set of standards that they make businesses they’re going to sell adhere to and a certain set of requirements for investors looking to buy the businesses that the brokerage is listing for sale.
That means you, as a business seller, will have your business put in front of more investors that are ready to buy and know what your business is worth. As someone buying businesses, you know that you’re only going to find the best of the best and that your money will be safe.
How the Process Works
When it comes to digital businesses, brokers will follow the same processes used to sell a brick and mortar business. Their primary goal is to uphold your vision and meet your goals for the sale and find investors that are willing to consider your offer.
First, they will work with you to verify the information you’re providing about the business is accurate. If it is inaccurate, investors will shy away from buying the business and it’s going to end up staying on the market longer than it needs to.
Next, they will use the information gathered and compare it against similar businesses that have recently sold to establish a fair market value for your business. Together, you will draw up a prospectus that supports your asking price.
Then, the broker will begin marketing the business to find a buyer that is looking for a business similar to what you’re selling.
If you’re on the buying end of the deal, many brokers are going to vet your history to make sure you’re going to be the best fit for the business that you’re buying. A broker typically doesn’t want to sell a business to someone that can’t really afford it or doesn’t have the acumen to keep the business running in a profitable manner.
You’ll need to show that you have the skills available to keep the business running and will want to provide any documentation that’s available to back up your claims.
While buying a new business is typically a financial transaction, many digital business owners are personally attached to their business and will want to see that it’s going to good hands when they decide to sell it.
How to Find a Business Broker
When you’ve made the decision to buy or sell your business, there are a few different avenues you can take.
Or you can find a broker that has a history of selling businesses similar to yours and has developed a reputation for receiving maximum value from the sale and helping investors find high-quality, profitable businesses. Digital Exits is one of those brokerages and have developed a long-term standing in the industry as one of the most reputable brokers currently available. They have logged hundreds of sales and have a large network of investors that they can put your business in front of when you decide to sell. Likewise, if you’re looking for a business, they have active listings that you can go through to find a business similar to one that you’re looking to purchase.
Working with a broker is, by far, one of the best ways to either buy a digital business or sell a digital business that you’ve turned into a profitable income-generating asset.