How to Buy a Shopify Business
One way you can become a successful internet entrepreneur is to buy Shopify business for sale Buying an existing Shopify business for sale is one way you can avoid the challenges that go with launching a new online brand. This is what we at Ecommerce Brokers help our buy side clients with via our buy side broker service Elite Acquirers.
Why Buy Shopify Business For Sale?
Below are the core reasons why you should buy an Shopify business
- A proven and reliable business model
Oftentimes, businesses or entrepreneurs that want to get into a popular niche such as Shopify skincare business are not always sure where or how to go about it, not to mention beating the competition to be at the top. Acquiring a premade and successful Shopify business is a great way to start strong and achieve an early foothold in your target niche. Here, the keys rest on the ‘proven’ business model. The business has differentiated and proven itself to be a reliable and profitable venture. It has an already established base of traffic, customers, and suppliers. Above all, it has gained much from someone else or some other business taking all the risk over the years.
- Cross-Selling Potential
For a business owner that owns an Shopify business in the same or similar niche, buying an existing Shopify business for sale can translate into massive cross-sell capability. Cross promotions have paid many online business buyers in significant returns—from email lists to targeted competitive discounts—as a way of moving customers/clients between both platforms.
- Gain a strategic and informed advantage
The internet as we know it is one innovative, wonderful, and weird place for making a lot of money. Thus, it’s not unusual to come across businesses in the market that has a unique feature about their brand and business model that buyers are keen to purchase for a strategic purpose. One of the reasons why investors acquire Shopify businesses is to gain a strategic advantage in the areas of suppliers, customer relationships as well as warehousing contracts.
- To beat the hard work
As stated earlier, one major reason why you should consider buying an Shopify business for sale is that it offers a cheap method of getting around the hard work in building a great business. You will become less bothered by doing things like setting up ads, keyword research, site development, SEO, finding suppliers, customer service, etc.
7 Practical Steps On How To Buy a Shopify Business?
Shopify is a popular e-commerce platform that provides businesses with an easy-to-use interface to create online stores. The platform offers a wide range of features, including payment gateways, website templates, and inventory management tools, making it an ideal choice for businesses looking to establish an online presence. If you’re interested in buying a Shopify business, here are some steps to follow:
The first step in buying a Shopify business is to determine your budget. The price of a Shopify business can vary widely depending on various factors, including the business’s revenue, profit margins, and growth potential. Here is a helpful article that elaborates on this buying a Shopify business point.
Identify potential businesses:
Once you have determined your budget, the next step is to identify potential Shopify businesses for sale. You can find these businesses through various online marketplaces, such as Shopify’s Exchange Marketplace, Flippa, and of course Ecommerce Brokers. These marketplaces provide a range of businesses to choose from, making it easier to find a business that meets your needs.
Conduct due diligence:
Before making an offer on a Shopify business, it’s essential to conduct due diligence. This involves reviewing the business’s financial statements, customer data, and marketing strategies to ensure that the business is profitable and has growth potential.
Make an offer:
If you’re satisfied with the results of your due diligence, you can make an offer to purchase the business. The offer should include the purchase price, payment terms, and any contingencies, such as a non-compete clause. This is what an ecommerce broker really comes in handy.
Once the offer is accepted, the final step is to transfer ownership of the Shopify business. This involves transferring the website domain, Shopify account, and any other assets associated with the business.
It’s important to note that buying a Shopify business requires careful consideration and due diligence. It’s essential to ensure that the business is profitable and has growth potential before making an offer. Additionally, it’s important to work with a lawyer and accountant to ensure that the transaction is legal and financially sound. By following these steps, you can purchase a Shopify business with confidence and start your own e-commerce venture.
So, we’re rounding up our tips on how to buy an Shopify business for sale. It is something you should seriously consider doing if you want to become your own boss in the 21st century. The process is challenging for first-timers, but with the above tips, even the sky can’t be your limit to the success that lies ahead of you. Of course here at Ecommerce Brokers we help with the buying and selling process. So if you are looking to buy an Shopify business feel free to contact us for a call to chat about your buying criteria and we can send you a few interesting deals to take a look at.
Think we’ve missed something or do you have a better suggestion? Don’t forget to leave a comment or drop your questions below. If you’re lookiung for some help in your first Shopify business acquisition take a look at our buy side broker services where we help buyers find, negotiate and finally buy an online business.
Author Bio: George Moulos
Forbes 30 Under 30 2020, CEO of Ecommerce-Brokers.com
I own an online M&A firm called www.Ecommerce-Brokers.com and we have 11 years experience helping buyers and sellers acquire and sell millions of dollars worth of online businesses.
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