If you are interested in selling your web business, please contact me. I work with some of the top website brokers in the business, but not only that, I personally buy websites for my own portfolio, development, and R & D. There is nothing more fascinating to me than analyzing a website, which is probably why I love doing website optimization and traffic generation so much.
How to Sell a Website
There are many things to prepare if you are going to approach a reputable website broker, or even if you are just going to casually reach out to someone like me who buys websites based on metrics and doesn’t always look into revenues as a primary multiplier of what a site is worth. Here is my shortlist of what you should have available if you are going to talk to someone about moving on from owning a web based business.
- Revenues. Prepare a P & L if possible. Having a balance sheet and income statement is one thing, but having verifiable screen shots of where this revenue came from is paramount to me. I always like to see where money is coming from and verify merchant accounts, Paypal, bank wires, checks, etc. Someone buying your site or business will want to be comfortable that the vendors are real and not just flow through companies that create the aura of a successful web venture.
- Operating Costs. There are always costs to run a business, and although online businesses are fortunate to have lower carrying costs in comparison to an offline business, they should be chronicled and laid out for the new prospective owner. Costs such as hosting, inventory, website maintenance, marketing, and payroll all need to be laid out.
- Time Involved. I come across so many people who want to get into the art of running a business online, but they are often believing that running an online business is simple and “hands off.” While outsourcing is certainly a great way to keep your precious time to yourself, there is no such thing as “auto pilot” and it’s very important that every role, duty, and responsibility is explained in great detail. Many times a prospective owner will want to “do it all” and run every aspect of the business and therefore, keep more profit. There are also other prospects who have a team in place who perform the same responsibilities for other businesses in the owners portfolio and who are easy to plug into the new acquisition. Keep a journal of your own time and duties for one week, and you’ll easily be able to explain to anyone the operational time involved.
Those are three very key factors to keep in mind if you are ever looking to sell your online business. It’s not an easy task, but with so many people trying to “work from home” and live the nomadic life, travel, and still generate money, there is certainly a large pool of people who are potential buyers. If you come prepared, you’ll have an easier time generating interest.
And don’t forget about me! My network of web marketers is very large and I always know people looking for websites, businesses, and even Amazon facing businesses.
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