Buying and Selling Websites in 2021 with Empire Flippers! 5 Step Online Business Buying Process
Hey everyone! Mike Swig here and if you’re potentially interested in buying a profitable and established online business you’re going to want to stick around I’m going to show you the exact
five-step process to buy a profitable online business and we’re getting started right now.
I’m going to switch over to my laptop and show you a step-by-step process to how to find
a business that’s a right fit for you and if you have anywhere from twenty thousand dollars
all the way up to two million dollars to invest I’ll be able to help you out with this video and with the step-by-step process to buy a legitimate business through one of the largest online business marketplaces that are curated meaning that these businesses have gone through a very strenuous vetting process.
They’ve spent four to six weeks verifying the financials and making sure that this business you’re gonna buy is going to be as safe as possible so let’s go ahead and dig into how to buy an online business in five easy steps hey everyone so the first step is to just go ahead and open up google and you’re gonna wanna go to empireflippers.com and just a bit of transparency.
I was employee number four at empire flippers. I’m no longer with them but have a great relationship with them. They’re one of the best places to buy vetted and curated businesses meaning that every business on the marketplace has gone through their strenuous vetting process that takes four to six weeks where they’re verifying the financial data.
They’re verifying that the seller is a legitimate seller and essentially making sure that every business on their marketplace is going to have kind of their seal of approval so that way when you do buy these businesses you have a much lower risk in buying a business
that maybe is a scam or something like that.
There are a lot of other marketplaces where they do no type of vetting process so you really don’t know what you’re getting and if you’re looking to buy a business this is going to save you hours and hours of time but at the very end, there’s so much protection in place that you have a much lower risk when you’re acquiring a digital asset to utilize a company like empire flippers.
The first steps are just to go to empireflippers.com and you’ll see that they’ve got a lot of businesses listed they have one of the biggest curated marketplaces for buying online businesses and it looks like right now they have and the process is fairly simple essentially what you can do is you can search for the business here you can put in the criteria that you’re looking for so let’s say you’re wanting to buy something in the sports niche.
Today I’m looking for amazon associates these types of businesses if you’re just getting started are probably one of the best types of businesses because they’re fairly passive they don’t require a huge amount of in-depth knowledge to start a business so if you’re just getting started.
I would say amazon associates is one of the best businesses out there
and let’s go ahead and just put our price range between zero to 920 000 and let’s go and see what type of listings show up for us here so it looks like there’s you know four different listings here for us in this price range and you can see that all these types of businesses are ranging around 100 000 all the way up.
You can go ahead and register and create an account that would the second step is when you find a listing I would just go ahead it’s free to register once you register. They’re going to
verify some of your data. You’re going to have to put in some details like the show. You’re a photo of yourself with the passport and stuff like that they have a really nice security and onboarding system so that way they know that if you are interested in buying a business you’re going to verify some of your financial data and they’re going to only allow you access to businesses that are in your price range and this is a really good feature because sellers are going to only want to sell their business to vetted and verified buyers that actually have money.
So they don’t waste time talking to buyers that you know maybe they only have 50 in their bank account and are looking at a 200 000 business this is also going to prevent copycats so that way when you do acquire a business you’ll know that only vetted and verified buyers were looking at the business and had agreed to the terms to not build any of these types of businesses so that’s something to consider so step two would be creating a login and registering.
It’s a very simple process all you need to do is essentially put in your email and answer some details email first name last name phone number what type of business you’re interested in and then you go ahead and log into that information so once you get approved for that you’re going to unlock a lot of this essential data that’s really nice for looking at the businesses and let’s go ahead and just clear these filters and see what comes up so I like to look at all these businesses.
Let’s say you’re wanting to just find a business in a lower price range you can go ahead and sort by the price and see something that fits your budget. If you’re going to acquire a business of this size make sure you do have some extra capital to actually run the business. I would say if you’re going to acquire this business here you would at least need 30 to 35 000 that way when you buy the business you have a growth strategy to really go ahead and build this business.
If you see a business you like and give it a thumbs up and then it’ll show in your dashboard it’ll show the businesses that you kind of shortlisted and you can go ahead and shortlist those you can also change the view here when you do register gives you a little bit more details but just going through each one of these items this is going to be the listing number it’s a new listing it’s monetized by display advertisements.
This could be things like you know google Adsense or any type of advertisement network here’s the listing price here this is how much monthly net profits are making so this business is pulling in around 600 every month and here are the multiple this is essentially taking this monthly net profit multiplying at times 40 and that’s how they’re getting this list price here all of the prices on empire flippers are fairly negotiable but any business probably under you know probably gonna need to be in all-cash upfront.
In most of these smaller businesses the sellers won’t accept anything other than the list price and if you’re going to send an offer even if it is a much larger business it needs to be in the realm of you know won’t even accept lowball offers so aren’t looking for that type of business make sure to keep that in mind before you send an offer and you don’t want to waste anybody’s time by sending lowball offers to sellers the third step would be let’s say we find a business here.
Let’s say we just want to buy this business here looks good we can open it up the next step would be to perform your due diligence so once you kind of check all the initial public data once you’ve kind of looked at this business as a trademark it’s generating income from different sources from the USA, Canada, Japan you really like this business and you want to see more details. You want to see the actual business details that aren’t released to the public so after you’ve looked at all the earnings data make sure that you’ve gone through this listing page to make sure that everything seems like a good fit for the reason for the sale.
The seller support all these other details you’re going to want to do this before you actually go ahead and unlock the listing and unlocking the listing would be the fourth step so let’s say I like this business let’s say you’re going to want to unlock this business and they have the buy now here this is if you’ve already kind of reviewed the details most of the time you’re going to want to unlock the listing to access more details first so they’ll email you more details about the listing and it’ll also unlock a lot of these other things like site traffic analytical data from ahrefs social media channels.
It’ll send you the actual business and it’ll give you a lot more details to make your decision so that would be the fourth step and the fifth step is you can potentially set up a buy or seller call where you can ask the seller some questions before acquiring the business I would say usually north of a hundred thousand dollars.
You might want to have a buyer-seller call but a lot of times under that you can just get a lot of your questions answered via email or via a support ticket so once you have that you can go ahead and buy the business now and you can essentially go ahead and wire the money and acquire this asset.
It’s a really streamlined process again depending on what your budget is if you’re looking to find a business that’s a good fit for you I’ll go ahead and leave some details in the description so I can help you match up a business that’s going to be a good fit for your skills and also once you’ve acquired this business.
I can help you set up a marketing strategy that’s going to really help you grow and explode your business after acquisition and I’ve personally had the success of acquiring a software business and within nine months getting my initial investment back and more than five exiting the business now we’ve more than 10x this business and it’s going to be a really great exit in the future so if you need any help with that I’ll leave some details below in the description on how you can go ahead and set up a call.
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Empire Flippers has helped customers buy and sell nearly $300 million worth of Ecommerce, Adsense, Affiliate, SaaS, FBA and many other revenue-generating assets. Our buyers and sellers span the globe and they’ve fine-tuned their process and team to ensure you have a safe, secure buying and selling experience.
The first website they sold was ourown. Now they help others around the world do the same. At Empire Flippers, they remove friction from buying and selling online businesses.
Empire Flippers is an Inc. 500 company and the #1 curated marketplace for buying and selling established, profitable online businesses online.