Hi, I’ve made the decision to sell my online business after trading for more than 10 years. I have another business that has taken my eye of this business for a while now and this other business really needs my full attention. I love this business (I’m selling) and what it does and I feel sad to be selling it because it has so much potential, and the profit margins are great…but really it is much better to have someone in it that can make it flourish. I’m tired of having the ‘guilts’.
I’m going to be selling the stock at cost plus some small goodwill for the business which will include the website/photography /client listing/ manufacturers/ ALSO I do sell to retails stores as well (at wholesale rates) etc. etc.
Where I’d love some feedback / experience is that I am NOT trying to sell based on it’s profit, I’m looking to cover my costs essentially so I don’t want to overcomplicate the transaction. (There will be no tax returns but I could get my accountant to put some figures together but really they haven’t been great because I have done NO marketing. Anything that has happened has been organic).
It is not worth going to a broker. I just don’t want people tyre kicking and then trying to hammer me down when I’m being very reasonable in what I’m asking (looking to be around $40K with loads of <non perishable> stock).
Have you sold a business, how did you do it. What are the pitfalls? Where are good places to list it for people who are genuinely keen to get a great ready to go business? Thanks