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Old 11-02-2017
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Default Got a offer on my website what should i do..

So got banned on ebay ages ago, then was able to get back on 4-5 years later. During that time, learned how to do it kind of on my own and glad ebay / paypal was my only means. Working full time right now doing graphics and on side built a dropship website and wanted to see if anyone can buy it on shopify exchange site and few were interested and one was very serious . I put it up at 75k which is really low as i put so much into this but it requires extra employees and I dont' want to get into that. So the offer was 60k and I know it's much lower then my initial request and also less then my intentions, but thinking buyers don't come along quickly and wondering if i should take this offer. I can start from scratch again but my emotions are bit tied to this shop since ebay was done i had to do scramble to on my own. But as in business i can't get emotionally tied and think business purpose.

If anyone has experience in selling shops please advice. One of my concerns is that I know this shops keeps growing but always competition along the way. But then again Doing ft work already I cannot keep up .

I have read stories where people purchasing shops would take over and get more sales due to being more business savvy and then others that would flop , so I'm not concerned about what happens if I sell it to this person but , bit confused if letting it go or keep it.
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

I guess it depends on how much money you are making with it. E-businesses usually sell for 2-3x annual profits, so keep that in mind.
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

1) Save all of the sites source code
2) Sell current site
3) Start new domain
4) Rehost the same site and continue selling

I'd be careful about how you accept that $60k though. I'd probably only take ACH.
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

Quote:
Originally Posted by phaz0rz View Post
1) Save all of the sites source code
2) Sell current site
3) Start new domain
4) Rehost the same site and continue selling

I'd be careful about how you accept that $60k though. I'd probably only take ACH.
My only acceptable method:
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

Quote:
Originally Posted by ebaystealth1974 View Post
I guess it depends on how much money you are making with it. E-businesses usually sell for 2-3x annual profits, so keep that in mind.
Oh my, ok well I was not thinking numbers but more of need to sell due to no time to run it. The profit is way over my asking price but I know that if I sell it quick I can start fro scratch again as I've learned social media marketing . (ad agencies didn't work too well.. guess whatever you want done do it yourself)

But thank you that will adjust my pricing, just having interest buyers and one serioues buyer who wanted to do ACH and was verified through the site i'm selling it at got me not thinking . .. I listed it up one week and it got lot of interests.

So I'll just have to find some extra workers and raise the price. THat is a great tip
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

Maybe I should have said ESTABLISHED businesses. If you're selling fidget spinners(or something similar), good luck getting someone to offer an real money for a fad site.
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

Get a lawyer to handle the deal & site transfer escrow. It'll be a few grand typically and they'll advise you on the proper non-DIY way to proceed with the transaction so as not to get taken from behind without the KY.
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Old 11-03-2017
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Default Re: Got a offer on my website what should i do..

Quote:
Originally Posted by ebaystealth1974 View Post
Maybe I should have said ESTABLISHED businesses. If you're selling fidget spinners(or something similar), good luck getting someone to offer an real money for a fad site.
Yes not a hit or miss . Work with few warehouses that have a pretty stingent requirements and provide the items they research top items each season. They do require performance which is one good motivator but I think it will be better in hands who have more time. I wonder when fidgent spinners will die down though as Im seeing it everywhere (recent place a burger joint with there logo on it lol).
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Old 11-04-2017
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Default Re: Got a offer on my website what should i do..

Quote:
Originally Posted by nakamuru View Post
Yes not a hit or miss . Work with few warehouses that have a pretty stingent requirements and provide the items they research top items each season. They do require performance which is one good motivator but I think it will be better in hands who have more time. I wonder when fidgent spinners will die down though as Im seeing it everywhere (recent place a burger joint with there logo on it lol).
They're already dead to me, lol. They became unprofitable within 2 weeks of them first appearing for sale.
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Old 11-04-2017
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Default Re: Got a offer on my website what should i do..

When EVERYONE is selling them, it's too late!
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Old 11-05-2017
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Default Re: Got a offer on my website what should i do..

only sell it if you're getting around 2-3x your annual profit and you're happy with selling it at that amount
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Old 11-05-2017
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Default Re: Got a offer on my website what should i do..

Quote:
Originally Posted by ahsan7 View Post
only sell it if you're getting around 2-3x your annual profit and you're happy with selling it at that amount
Thank you for the markup percentage. I know i listed low as I was more concerned with not able to manage the shop but didn't know it was much more lower. I'll just have to hire some people, but have this paranoia of hiring people to do customer service etc... Read that you can hire customer service but usually will create more refunds and losses. Looking at the big picture though I think it's the right to keep it.

Guess other concern was that if the shop sales suddenly drops (but over 4 years it has steadily grown) then wondering if selling it to buyer who wanted to buy it intsantly would have been better as I can just rebuild again.

Guess consensus 2-3x markup is the standards. Did some searches on pricing before but had mix answers so just put it out there.
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