Selling MY Business Online?

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Selling MY Business Online?

Postby soapin'Angela on Mon Jan 02, 2006 2:43 pm

Hi everyone,
I am seriously thinking about selling a business that I have built online, my bath & body business. I want to sell it for a pretty large sum compared to the usual online sales (about $1,000) and I was wondering if anyone knows how this type of transaction would normally be handled online?

I want to make sure that the person buying the site/company feels secure in what they're getting and that I am sure they will also pay me for the entire deal. I will be including physical product along with the site,domain name,customized site to their name.

Anyone know how to handle this??

Thanks so much,
Angela
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Postby MommysPlace on Tue Jan 03, 2006 7:46 pm

I'm sorry...I have no experience with this. I do know people in the past have sold on ebay, but other than that I do not know. I wanted to wish you the best with that and don't settle for less than you know it's worth!
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Postby ChristiM on Wed Jan 04, 2006 5:31 pm

Hi Angela,

While looking into selling one of my sites, I came across several places to do so. There are listing fees, some of which seem pretty reasonable, although I haven't used any of them personally. They also have tips and suggestions on how to appraise your site so you can price it accordingly. Not sure if I can post the links here, so I'll PM them to you.

Hope they help,

Christi
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Postby soapin'Angela on Thu Jan 05, 2006 3:07 am

Thanks Nell and Christi. I will definitly make sure I get what I think it's worth, thought at this point I'm not exactly sure what that is..lol. I am going to get together everything I have to offer with it and then I'll have a better idea of what I can get for it.

Christi that would be great if you could PM me that info, thanks :).
Angela
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Postby Anna Johnson on Mon Jan 09, 2006 7:30 pm

Yep, I've sold an online business for a nice sum. We didn't have physical inventory, but sold the domain name, website and all its contents (including our online products).

The way we did it was to contact (1) competitors and (2) companies that offered complementary products/services that we thought might be interested in adding our business to their arsenal. We used email and telephone to contact them. I think we had a one page description of what we were offering (including details and key metrics) and of course they could see the website for themselves on the Internet. But most of the discussion was verbal over the phone.

Being an lawyer, I wrote a formal transfer of business agreement that specified exactly what we were selling and the payment terms (and various other terms) - you'll definitely need this, so get an attorney to help you.

Let me know if you have any more questions!
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Postby lizh on Wed Jan 11, 2006 8:18 pm

Check out the forums over at SitePoint. They have one specifically for selling sites...and it seems like all kinds of sites get sold there from $50.00 to $50,000.00.
good luck,
Liz
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