How To Sell A Business in 24hours!

[Simone Wylie]

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Hi Team,

A friend wants to sell one of her businesses as she has another business which has taken off and she wants to focus on.

The question is, how does she sell her business in 24hrs?

Let me give some background.

The business is only in start up phase (18 months) and has not generated a Financial Year profit yet. It is an online retail pregnancy/baby business with her own trademarked niche signature brand.

The business site is generating start up numbers: 9,000 hits per month, 200 unique visitors per month. Database of 100 customers.

She is happy to sell the business for less than the stock price (wholesale stock: $45k), to get rid of it quickly? So Flying Solo members, the question is how do you recommend moving this quickly, and what would be the magic number to make this happen? Remembering that she really doesn’t want to spend too much energy on this exercise.

[LeelaCosgrove]

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I would recommend approaching an existing business and selling the stock … the hits / database are negligible at that price (i.e – people who would be excited by those numbers would probably have fairly small lists themselves, meaning it’s unlikely that they’d have $45k to spend on stock) … but the stock is probably very valuable to someone who is already selling this stuff, especially if the price is below normal cost.

I would put together a list of the top 10 on / off line businesses in this market and give them a call. Let them know the deal. If you can’t sell it to them below cost, you’ll probably struggle to sell it at all …

If you wanted to take your time and sell it more slowly, I’m sure you could find a few people in the current market who have a bit of retrenchment money to spend who might be interested … but for a quick sale, I’d go stock-only to an existing business.

Good luck with it and let us know how you go!

[VacuumRobot.com.au]

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Hi Simone,

As the business has only 200 unique hits per month, that might be the reason why it’s not successful. Is the new business estimated to be successful? She/he might try to work on the existing business, see if she can increase the amount of traffics per month..

It’s hard to sell the existing business, because ppl want to see the traffic, and the profit of previous year(s). Because the current business has neither, it can not sell (along with the baggage of the expensive stocks)

Tell me if I’m wrong..

Dave

[Author]

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