Buy an existing business

Search for businesses to buy? There are a few places where you can sell your business or buy a an established business. Businesses are bought and sold every day, maybe you want to enter a new market or you want to exit a market. Maybe you think your business will expand to a new level with another owner and you reached the ceiling of how high you can develop it. Let’s see some successful business deals and discuss a little about places where you can buy or sell a business.

Any business can be sold! Even websites, that are not really businesses, can be sold for a lot of money. LiveJournal just as the name suggests was a virtual community where users could keep a blog or an online digital diary, through their free open source server technology. They didn’t stop there though, they had the software allowing users to easily create blogs and diaries online they even allowed for calendars, polls, and even have guest writers. The website sold for approximately $ 25 million to Six Apart in 2007. Bankaholic is the creation of founder John Wu who also created CB Land Investments. The website itself was an online banking marketplace which basically provided its customers with credit card offers as well as interest rates and personal financial advice. The website eventually sold for $15 Million to BankRate and now has a hefty team of banking and financial professionals behind it so who knows where it could go? maybe it will be worth double the amount in a year or so.

Advices for selling a business: Waiting too long, or not planning in advance, can cause many business owners to miss their window of opportunity. It takes an average of two to four years to sell a small business. Therefore, long-term planning is key to any successful business sale. By keeping updated records, a detailed business history and sales portfolio on hand at all times, it will make your planning pay off. You just never know when that perfect buyer may walk into your business and make you an offer you just can’t refuse. Succession planning is a major misstep by retailers. Even if you do not have a successor who is a relative, you are still thinking like a succession planner. The person “succeeding” you needs to be set up for success. If they see you have been planning and considering this for quite some time and that it’s not a quick “I’ve had enough” sale, your price will be much higher. Add to that the confidence the buyer will have in a retail store purchase if they see there was a strategy for the sale and that it’s not driven out of desperation. See more details on Sell your business.

Looking for more of a side-hustle rather than a full-time business to take over? Start with SideProjectors. It’s the marketplace to go to if you’re looking for something to do on the side of your 9-5 job and there are usually online businesses or projects for sale here at more accessible price points. SideProjectors is also a great place for sellers to go to list those projects that they put a little bit of time and effort into but didn’t totally build out into a fully-fledged business so they can get a little bit of a return on their investment. Never leave a side project abandoned again, just use SideProjectors to transfer the assets and operations to someone willing to pick up the task. SideProjectors does not handle any part of the sales process, they just help connect buyers and sellers, so it’s important to thoroughly conduct your own due diligence if you choose to buy or sell on their platform. This also means that they don’t offer an escrow service so it’s up to buyers and sellers to work out their own payment strategy.

Domain Magnate – Nearly last, but certainly not the least favorite, Domain Magnate is run by Michael Bereslavsky. According to an interview with Flippa he manages more than 100 websites and has sold websites for as much as $165k on Flippa. I signed up on Michael’s newsletter a year ago, and he sends new deals every once in a while in your inbox. Just like other premium brokers, Michael is interested only in serious buyers, and legitimate owners selling their businesses and websites. Here’s a word from Michael himself! “That interview is a bit old, currently, I have $418,710 in Flippa sales under my profile. Domain Magnate is a super seller and a verified broker with Flippa, we are also a verified partner with Escrow. Domain Magnate is different in that we mostly cater to sellers who are looking for quick deals and do not want to go through the lengthy processes associated with other brokers, and we buy directly, acting as buyers, often closing deals in just 1-2 days. Domain Magnate also act as a buyer-side broker, guiding first-time buyers through their first acquisition and helping them find the best deal based on their budget, requirements, and expertise, or helping established buyers find and buy websites according to their exact specifications.”

Bonanza, listed as “…the best eBay alternative we’ve seen” by Ecommerce-guide, underwent a name change in 2010 and went from ‘Bonanzle’ to ‘Bonanza’. Like Amazon, Bonanza has roots in Seattle. Their current revenue is difficult to find, however, we do know Bonanza has had two rounds of funding. Setting up a booth on Bonanza is free, as is posting your items for sale…but there is a percentage that goes to the site when items are purchased. Consumers will enjoy this site; the navigation is very simple to use. To the left of the image placeholder are four dynamic section links; above the placeholder is a navigation bar with three links and a search bar. The links are listed as “For Her”, “For Him”, and “For Everyone”. Hovering over these links produces a quick-link list with categories.

BizForSell is number #1 Go to for business sellers, business brokers and buyers. bizforsell.com is one of the biggest and most reliable business selling marketplaces in the world. We aim to solve the unique problems business sellers, business brokers and buyers have to face while selling or buying bussiness. We offer very convenient options for sellers, buyers, and brokers of businesses. Business buyers can easily browse businesses locally and find the best possible deal . With a fast-growing audience of sellers, buyers, and brokers, you can be sure of finding something suitable for you on this marketplace if you search! We provide solutions to sellers, buyers and brokers worldwide. Source: https://www.bizforsell.com.