How can I sell my online business?

As an entrepreneur, there comes a time when you will consider selling your business. The reasons can be very diverse: perhaps you are approaching retirement age, or you want to free up capital for an investment, or perhaps after (X)X years you have had enough and are simply going to do something else. Whatever the reason, selling an online business is not nothing. It can involve a lot of money and it is not without risks. All the more reason to prepare well for a business sale!

In this article we will discuss in outline the best way to approach your online business sales. Going through this article and following the steps will give you a good basis for shaping your own sales process.

Preparing for the sale

  1. The first step you take as soon as the thought of selling your online business or sales account (or related business) arises is to schedule an intake with the experts at Businessforsale.eu. Based on all the e-commerce acquisitions they see coming along, they can best create a plan of action with you on how to get the maximum value from your transaction.
  2. Perform a valuation with our free app. Do you have a larger business or does your business not fit within the specs of this app? If so, please contact us. Our experts can inform you about the common 'market multiples' that are prevalent for your particular online business. Furthermore, one of our founders is a Registered Valuator and he too will be happy to help you.
  3. Read the online business takeover manual e-book. In this handbook you will find the acquisition process explained in 5 steps and it is provided with substantive contributions by a.o. Arnout Engelfriet (ICTrecht) and Lex van Teeffelen (HvU).

Listing your online business for sale

  1. Sign up as a seller on Businessforsale.eu and choose the package that suits you best. The largest platform for e-commerce acquisitions in the Netherlands works on a no cure no pay basis, so no sale is no cost! For acquisitions with an expected deal value from €1 million we like to act as acquisition advisor and take (almost) the entire process out of your hands. But also for smaller transactions we have very effective sales packages. Do you want maximum exposure? Then choose the promotion package during your registration!
  2. During the registration process you will be asked to provide a profile of your online business (don't worry, our system will guide you through this step by step!). 
  3. We advise you to prepare a sales memorandum at this stage (think of it as the sales brochure of your online business or sales account). You can share this with potential buyers who respond to your ad via our platform (we make sure these parties have already signed a non-disclosure agreement!). 

Selling your online business

  1. Once contacts with buyers progress, ask them to make their interest concrete by submitting an indicative bid. They can do this by preparing a term sheet. .
  2. Have you reached an agreement with a suitable party? Then record the agreements together in a letter of intent and finalize them after the due diligence in a solid acquisition agreement. 

Finalizing your online business transfer

  1. Prepare the transfer well and prepare a transfer document in a timely manner that includes all the ins & outs of the business to be transferred. The better and clearer this document is, the less the buyer will have to fall back on you after the acquisition. But don't share this document until the arrangements are truly final.
  2. And perhaps most importantly, celebrate your successful sale!

 

 

Of course, the above is a step-by-step outline. It covers the most important issues, but you may need further explanation. You can reach us at 020-2184499 or contact@businessforsale.eu and outside office hours you can also browse through the wealth of information we have published for you in our knowledge base.