So, you started from scratch and built your own Shopify store, and now you’re thinking about selling it. You might decide that you don’t have enough time to work on it, or you might want to move on to other business ideas. You might be undecided and just want to know, “How much is my Shopify store worth?” Even better, your Shopify store is doing well and making money, and you think you might be able to sell it for a large sum of money that could change your life. You’re looking into it for whatever reason, but you’re not sure how to sell your Shopify store.
When you sell a Shopify store, you don’t just sell the website and domain name that go with it. You are also selling the store’s products, customer list, followers on social media, and brand. How do you sell your Shopify store, then? How do you figure out where to sell a Shopify store to get the most money for all the work you put into it?
This article will tell you how to sell your Shopify store, where to sell it, and everything else you need to know before you put it up for sale.
Why should you sell your online store on Shopify?
You might want to sell your Shopify store for many different reasons. You might not be making enough sales, or you might not have enough time to work on it. You might just want to move on to other business ideas or make money off of your successful online store. The important thing is that you know there is value in selling your Shopify store. Some people, especially those who don’t see a high return on investment, may just give up and leave a lot of cash on the table.
Reasons of my own
Personal reasons are one of the most common reasons why someone would want to sell their Shopify store. This could be because you don’t have enough time or because you get sick and can’t do what you want to do. It’s also possible that you need a lot of money quickly and would have to wait too long for your store to make that much money. Instead, you could sell it and get the money you need quickly.
No matter what the reason, if you can’t keep running your Shopify store, it might be a good idea to sell it. Personal reasons are a common reason to sell a business, and it happens more often than you might think, so don’t feel too bad if that’s your situation.
Business Opportunities
Another common reason to sell your Shopify store is that other business opportunities have come up and you want to take advantage of them, but you need some money to invest up front. This could be a once-in-a-lifetime chance to invest or just a desire to try your hand at another business you’ve been working on. Entrepreneurs often get bored or come up with other, more interesting business ideas they want to try.
If you’re no longer interested in the products you’re selling or the day-to-day tasks of running a Shopify store, selling is a great way to make a lot of money quickly and give your business to someone else to run.
Earn money for several years quickly.
One of the best reasons to sell your Shopify store is that you can make as much money as you would in several years in a lot less time. You’ve worked hard to build a successful store, and if your Shopify store is making a good profit, it’s likely that someone will be willing to pay a lot of money up front to take it over.
This is especially true if your Shopify store is doing well in a niche market with a lot of room for growth. Not everyone wants to start from scratch with a business. You already know that it takes a long time to do. Because of this, many entrepreneurs and bigger businesses would rather buy a business that is already established and making money so they can spend their time making it even more profitable instead of starting from scratch.
There are many benefits to selling your Shopify store and getting a large sum of money all at once. If your store is doing well, you may be able to do this.
How to put a price on your Shopify store
At this point, you might be getting excited about the idea that you could sell your Shopify store and make thousands of dollars all at once. But you’re left wondering, “How much is my Shopify store worth?” and “Should I sell it?”
It’s not easy to figure out how much a Shopify store is worth because there are so many different things that matter. A potential buyer will care most about how much money the store makes and how long it has been open.
In general, a website is worth more money the longer it has been around and the more well-known it is. This is because a well-known website has already shown that it can make money and is much more likely to do so in the future as well. On the other hand, a website that isn’t as old might not have as much history, so it’s usually worth less.
One of the easiest ways to quickly figure out how much your Shopify store is worth is to look at your average monthly net profit over the last 12 months and multiply it by a multiple. It’s easy to figure out your average monthly net profit as long as you keep good records, but it’s hard to figure out a multiple. Most of the time, multiples can range from 30 to 50.
For example, if your average monthly net profit is $3,000, you can multiply that by 30 (a conservative multiple) and expect to be able to sell your Shopify store for around $90,000. For a business that makes $3,000 a month, that’s a pretty big sum to pay up front.
Your Shopify store’s final sale price will depend on how much money it’s making right now, how old it is, what niche it’s in, and a number of other things. But this method is a great way to get a quick idea of how much your store might be worth.
Where to Sell a Shopify Store
Now that you know how to figure out how much your Shopify store is worth and why you might want to sell it, you might be wondering where to sell a Shopify store. Even if you tell everyone you know that your Shopify store is for sale, it’s unlikely that anyone will buy it. We’ll talk about a few places you can go to list your store and find people who might want to buy it.
Private Sale
Even though telling your friends and family that you’re selling your Shopify store might not get you much interest, there are still many ways to sell your Shopify store privately. You can find buyers for your Shopify store in places like Facebook or LinkedIn groups where people who want to buy or sell Shopify stores meet and talk to each other.
The biggest problem with a private sale is that if you don’t know how to sell a business, there are many ways to get ripped off or for things to go wrong. This is especially true if you are asking a lot of money for your store. The best way to make sure your private sale goes well is to work with a buyer you know and trust and have a business lawyer help you sell your Shopify store.
Marketplaces
You could also list your Shopify store on a marketplace, which is another great way to sell it. People can buy and sell businesses, such as Shopify stores, on these sites. Buyers come here to look for Shopify stores that are for sale, so it’s a great way to bring buyers and sellers together and get as much interest as possible in your Shopify store. You can choose from many different marketplaces, but Flippa, Empire Flippers, and Exchange by Shopify are some of the most popular ones.
Empire Flippers
Empire Flippers is one of the most popular places to buy and sell online businesses like Shopify stores and others. They have a large number of interested buyers and are always looking for new businesses to sell. Empire Flippers is a great option if you’re looking for a marketplace that will help you sell your Shopify store as quickly as possible. They even have a quick tool that can give you an idea of how much your Shopify store might be worth.
The Shopify Exchange Market
Shopify is a place where people can buy and sell dropshipping stores.
If you want to sell your Shopify store, you can also use the Shopify Exchange Marketplace, which is made just for Shopify stores. This means that everyone looking at The Shopify Exchange is already interested in buying Shopify stores. This marketplace works with Escrow.com to make sure that both the buyer and the seller feel safe and secure during the payment and transfer processes. Here, you can find out what you need to do to be able to sell your Shopify store on the Shopify Exchange Marketplace.
Flippa
Flippa is a popular place where all kinds of online businesses can be bought and sold. They have a lot of buyers and are always looking for new businesses to list. Flippa is a great choice if you’re looking for a busy marketplace where you have a good chance of selling your Shopify store quickly. To list your Shopify store on Flippa, you have to show 12 months of financial history and give important information about your store. The process of listing, on the other hand, is pretty easy and can usually be done in less than an hour.
Business Broker
You could also use a business broker to help you sell your Shopify store. Businesses that help people buy and sell businesses are called “business brokers.” When they have a new business for sale, they usually have a large network of buyers they can contact. A business broker is a good choice if you want someone to help you with the whole process of selling your Shopify store, from the beginning to the end. Keep in mind, though, that this is probably the most expensive choice because you are paying someone else to do most of the work.
How to Sell Your Shopify Store on the Shopify Exchange Marketplace
Have you decided where your Shopify store will sell things? Most of the time, listing a site on the Shopify Exchange Marketplace is our top choice. It’s easy to do, and since everyone looking at listings is looking to buy a Shopify store, that’s probably where you’ll find the right buyer.
Here are the steps you need to take if you want to list your Shopify store on The Shopify Exchange Marketplace:
Put in a listing
First, you’ll need to make sure that your Shopify store meets the requirements to be listed on the Shopify Exchange Marketplace. You can put your Shopify business up for sale as long as it works. First, you’ll answer questions about your business and submit your listing for review.
Acceptance and Putting Out
As long as your listing looks good, it will be approved and put on the Shopify Exchange Marketplace.
Get in touch with buyers
Then, people who want to buy things from your Shopify store will start to contact you. The Shopify Exchange says that it takes an average of 7 days to get your first offer, so be patient. Buyers need time to find your listing and do the math before making an offer. To keep things safe, there is no contact between buyers and sellers.
Your Shopify store is for sale.
Once you agree to an offer, the process of selling your Shopify store will begin. Because Shopify Exchange Marketplace has teamed up with Escrow.com, you can be sure that your transaction will go smoothly and safely. Keep in mind that a sale on the Shopify Exchange Marketplace takes an average of 29 days to finish.
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