Why make an online business when you could buy one? Purchasing an online business might just be your quickest pathway to becoming an online entrepreneur. In a way, it’s like buying a piece of the online world without breaking a sweat. No more business brainstorming. No more long business developments. No more fear in risking your hard-earned money into bankruptcy.
But, is buying an online business for sale actually good? And if it is, is it right for you? In this blog, we’ll dive into why you need to buy online business to make a profit. In addition, we’ll also give you examples of sites where you can buy an online business.
If you’re eager to make money fast, here’s everything you need to know about buying an online business for sale:
How Does Buying an Online Business for Sale Work?
“How do you buy an online business”, you might be wondering about this, and it’s a valid question. Can you really buy something that’s not only intangible but has already been made by someone else?
Quick answer: If you can buy digital downloads, then buying an online business is no different. Think about it the way you see existing physical shops. The digital world has limitless real estate for online businesses. Some are yet to launch, while others have already established a reputation.
When you buy an online business for sale, you’re buying the rights and responsibilities in an online business. It’s like buying an old merchandise store in town. The only difference is, it’s in ecommerce.
Here’s a quick look at how you can buy online business:
• Through Auction Sites
You can get online businesses for sale through auctions. You have to bid for an ecommerce site and beat the others betting on it. If you’re familiar with a typical auction, then understanding this is a no-brainer.
• Through a Broker
Buying an online business through a broker is one of the safest options. Brokers have experience with facilitating an agreement between a buyer and a seller. They also have the knowledge to help you score the best value when getting an online business for sale.
• Through the Website Owner
If you want to make the process more straightforward, you can simply buy directly from the website owner. You can find them through ad postings and then reach them out to make an agreement.
Where Can You Buy Online Businesses
If you want to look for an online business for sale, there are plenty of sites where you can find them. There’s the well-known Exchange marketplace, BizBuySell, BusinessesForSale, and more.
Here are sites where you can buy online businesses:
• Exchange Marketplace
Image taken from Exchange Marketplace
Exchange marketplace buy and sell online businesses. This is one of the most popular places to buy online businesses for sale. You can find plenty of existing websites at a reasonable price. You can also sell your website to interested buyers. Navigating this website is easy since they have a very simple website design.
• BizBuySell
Image taken from BizBuySell
BizBuySell is another famous platform to buy an online business for sale. You can even narrow down your options to location and industry. This website facilitates hundreds of buying and selling of online businesses. You can also buy franchises in BizBuySell.
• BusinessesForSale
Image taken from BusinessesForSale
BusinessesForSale makes buying an online business easy. Their intuitive website makes navigation smooth and easy. Through this website, you can see business and franchises. You can also view brokers and franchisors. If you want to buy an online business, looking here at BusinessesForSale is a great option.
Pros and Cons of Buying an Online Business
Buying an online business for sale also has its pros and cons. These are vital things to know even before engaging in shop exchange.
Here are some pros and cons of buying an online business for sale:
Pros of Buying an Online Business
1. Helps Avoid Procrastination
When you buy a business in places like the exchange marketplace, you’re preventing yourself from procrastinating. If you decide to build an ecommerce business from scratch. You might end up procrastinating due to the long waiting time.
By buying an online business for sale, you already have a functioning website. You won’t have to worry about setting up everything from the ground. All you have to do is run and manage it.
2. Start Selling Today
Once you purchase online businesses for sale, you already have a platform to start selling. Normally, you still have to set everything up, including the features, functions, and content in your ecommerce business.
With an online business, you can already start selling since there are products available on the online store already. You just have to upload more products if you decide to sell more. You can also facilitate the buying and selling process within your site.
3. Get a Website With Authority
Buying an online business for sale gives you an ecommerce website that the internet world already recognizes. You don’t have to establish a reputation nor risk losing revenue due to poor brand awareness. An existing online business has already made its place in the ecommerce industry. You just have to run it.
Moreover, busing an online business means taking over its loyal customers as well. What that means is that you only have to give little effort to get more customers. Marketing efforts will cost less too.
4. Wider Reach
Following the previous section, an online business already has its own set of patrons. These loyal customers would continue buying from the website, regardless of the owner. Through that, they could also share the website and spread the news to their friends. Since it already exists on the internet, it’s a lot more trustworthy too.
Your responsibility as the new website owner is to maintain high-quality services to these customers. Whatever attracted them to buy from that website must be retained. Even better, try to exceed the existing efforts on the site. You may even get more customers that way.
Cons of Buying an Online Business
1. You Only Get What You Pay For
When you buy online business, you don’t have authority or control over what you’re getting. Basically, you’re getting what you pay for. A cheaper website may not be as great as a more expensive online business. Note that sellers don’t just place a price at random. They consider the amount of revenue the online business makes. Those are certain things you need to consider when buying an online business.
2. Big Transformations May Be Needed
Just because you bought an online business for sale doesn’t mean you have to slack off and let it do all the work. Certain transformations may be necessary, such as changing your suppliers or switching to better payment channels. You might need to change a lot of things in the existing business. These changes are either for repair or improvement.
3. Unavoidable Negative Perception
When you buy an existing online business, you’re buying its reputation too. It’s great if you buy a website with a reputable name. But, if the website has received negativity in the past, there’s no getting away with it.
Is Buying an Online Business for You
Now that you know the pros and cons of buying an online business for sale, do you think it’s something for you? If you haven’t decided yet, we’ll give you another smart solution to make an online business, sell today, and make revenue fast.
Using a website builder called Strikingly, you can create your own online business in just 20 minutes. No need to go to the trouble of establishing an online store, Strikingly has everything you need.
Here’s how you can make an online business with Strikingly:
1. Create a Strikingly Account
Image taken from Strikingly product
Head on to Strikingly. Then add all the details you need to provide (First name, email, and password). Creating your account and using Strikingly is absolutely free. If you want more exclusive features, try going Pro to fully optimize your online business.
2. Choose a Template
Image taken from Strikingly product
Select a template that suits your business. Make sure that the template is easy to navigate and looks clean. Strikingly has a wide array of templates to choose from. As you can see in the image above, you can choose a template from various categories. Choose “Store” to find a template for an online business.
3. Add a Simple Store
Image taken from Strikingly product
If buying an online business for sale isn’t for you, you can add your own simple store in Strikingly. From the left-side menu, select “Add New Section” and then choose “Simple Store”.This section will serve as the ecommerce store for your online business. Make sure to change the layout and background to make it more attractive.
4. Add Products
Image taken from Strikingly product
Finally, to start selling, add products to your ecommerce store. Select what type of products you’re selling (Physical goods, service, digital). Then, add each product that you would sell in your store. Add the product name and insert a high-quality image. Make sure the description is specific too. Add the price then proceed to add the stock number.
Once you’re done, you can go back to the website editor and hit “Publish”.
Buying an online business for sale brings many benefits to aspiring entrepreneurs. It’s also a great way to make money fast since you don’t have to start from scratch. To find out if it is for you, try it out with Strikingly first. Create your Strikingly account and make an online business today.
