How to sell your online business and maximize your profits
Ecomflippers connects owners of online businesses with buyers through a single platform that combines messaging, bidding and secure payments.
Step 1
Choose your asking price
Whether you've already decided to sell or you're still on the fence, the first logical step is to determine how much your business is worth. With our free valuation tool you can instantly generate a business appraisal report.
Our tool takes into account key financial metrics and industry best-practices to calculate an estimated value on your business. It's a great starting point but in the end the final sales price is obviously subject to negotiations between the buyer and seller.
Step 2
Create a listing
The second step to selling your online business is to create a listing on our marketplace. The listing contains important information about your business and helps to pique the interest of potential buyers. Once you create your listing, include as much information as needed in order for prospective buyers to get a good understanding about your business and its potential.
Ecomflippers integrates with a number of platforms and payment gateways, including Shopify, Google Analytics, and Stripe, in order to provide verified, up-to-date financials and performance metrics. Verified listings get better exposure, increased credibility and attracts higher-value investors.
Optionally mark the listing as confidential to require users to fill out a NDA (non-disclosure agreement) before sensitive information is revealed to protect the seller's anonymity.
Step 3
Begin receiving offers
Once your listing is live, prospective buyers may place bids or submit offers via our site, depending on whether your listing is set up as an auction or classified listing. You can also set a minimum reserve price to filter out disingenuous users.
Inside our dashboard you can easily review offers, send private messages and make counter-offers with the click of a button.
Step 4
Create a transaction
Once you've accepted the offer from a buyer and agreed upon the terms you're ready to proceed with the sale. Ecomflippers provides seamless intergration with Escrow.com, which provides secure payments and makes sure that both parties are protected by a top acredited escrow service.
The buyer transfers the funds into a dedicated escrow account, which can't be accessed by either the buyer or the seller.
Although we strongly recommend using Escrow.com for settlement, you are free to agree upon another way of payment with the buyer.
Step 5
Finalize the deal
Once the funds have been secured, it's time for the seller to arrange handover of all business assets, server details, and additional information needed for the buyer to take over full control and ownership of the business. The buyer now typically has 14 days to review and accept, which is known as the inspection period.
During this time it's important that the seller is available and actively working with the buyer to ensure that the process goes smoothly. Once the buyer has accepted, the funds (minus any fees) gets released from escrow and transferred to the sellers' selected method of payment.
Congratulations, you've completed the sale!
Advantages of listing your business on Ecomflippers
Frequently asked questions
Can I create a listing for free?
Yes! Basic business listings are free on Ecomflippers. Promo packages for enhanced visibility and increased traffic are available as paid addons.
What is the escrow fee?
If you choose to use Escrow.com for settlement, an escrow fee will be calculated based on the transaction value.
Normally the buyer pays the escrow fee, but depending on how the seller has set up the listing the fee may also be split 50/50 between the buyer and seller, or covered by the seller in its entirety.
Is there a success fee?
No! Ecomflippers does not charge a brokerage fee for completed transactions (aka "success fee" or "closing fee"). The service is completely free to use for both the seller and the buyer.
I'm a broker. Can I use it for my clients?
Yes! Our platform was made with brokers and agents in mind. You can have multiple businesses listed at the same time and manage buyer enquiries, offers, etc. from the same dashboard.