what do i need to know before buying an established shopify store
This is a guest mail from Michael Folling. Michael is the founder of Limitless Designs and author of 101 eCommerce Tips. He enjoys building brands and writing near eCommerce. Follow him on Twitter to chat about eCommerce.
Have you always wanted to purchase an existing eCommerce website, but don't know where to start?
The earth of buying and selling websites can seem pretty daunting, fifty-fifty for the near experienced eCommerce entrepreneur. Fortunately, Shopify came up with a solution to help reduce the learning bend.
With Shopify Exchange you tin can buy an eCommerce website to give your business a head start and bypass all of the usual steps that go into building an eCommerce brand, similar writing product descriptions and edifice an email list from scratch.
So if the idea of buying an out-of-the-box business organization sounds good to you, keep reading while I walk you through the benefits of Shopify'south website marketplace as well every bit share some tips for helping yous purchase a website on Shopify Exchange.
What Is Shopify Exchange?
Shopify Exchange is a website marketplace created by Shopify for eCommerce entrepreneurs to buy and sell Shopify websites.
Information technology's dissimilar from other website marketplaces mainly because all websites on Substitution are powered exclusively past Shopify.
This is dandy if you have experience running a Shopify website already and you're looking to expand your portfolio just don't necessarily want to learn the ins and outs of a new eCommerce platform.
Why Buy An eCommerce Website On Shopify Exchange?
Unlike other marketplaces for ownership websites, with Exchange you can feel more confident in your decision. Shopify removes many of the hurdles that are traditionally associated with buying a website.
For instance, verifying a website'south performance can be a claiming considering a seller could easily faux the corporeality of traffic their website gets. With Exchange, Shopify includes the website traffic with every listing, and because all listings are Shopify websites y'all can be confident that the numbers are correct, since they're published by Shopify direct.
Additionally, Shopify also has direct insight into the amount of sales each website receives, and those numbers are published direct on the listing to assist brand your decision easier before purchasing a Shopify website on the Exchange marketplace.
Besides the extra layer of verification you get thank you to Shopify, Exchange is a great market for buying eCommerce websites in general.
The number of websites bachelor to purchase is one of the largest of any marketplace out there, and Shopify makes it like shooting fish in a barrel to find the right website for you with their simple and intuitive search functionality.
Lastly, Shopify takes the fear out of the scariest part of buying a website, making sure you don't get your money stolen.
To do this, Shopify partners with Escrow.com to put your coin into an escrow account and only transfers your money to the seller once you're satisfied that you've received everything promised by the seller.
Tips For Buying A Website On Shopify Exchange
If y'all've decided that buying an existing Shopify website versus building i from scratch is right for you, and so yous're in the right identify.
To help you lot navigate this process, I've put together some tips that I think you should follow to make your experience become as smoothly every bit possible. Hither are vi tips for buying a website on the Shopify Substitution marketplace.
one) Place Your Goals
The beginning tip that I recommend anyone follow before beginning this process is to identify their goals.
Make up one's mind what the finish upshot is that you'd like to achieve before you beginning browsing Shopify Exchange, equally it can exist easy to get distracted with all of the shiny objects you lot'll come across within the market place.
Are yous looking for a website that sells products in the same niche as your existing eCommerce business organization? Do you lot desire a website that already has acquirement? Or is a website that's built simply doesn't have whatsoever customers plenty?
Asking yourself these questions will assistance you stay focused on what'south most important to your business concern and make the search process go by much faster. Plus, it'south just a dandy practice to always identify your goals before making a large purchase.
2) Understand How To Search
Shopify Exchange'due south search functionality is simple and intuitive. You lot tin can filter the number of websites for auction on their marketplace by toll, revenue, age, business concern type, and industry.
In addition, you can sort the results by business organisation health, acquirement, cost, and most contempo.
Lastly, yous have the ability to choose whether to brandish a screenshot of the website or the website'due south revenue in the search results, making it easier to browse speedily.
Accept a few minutes to get familiar with these features to brand your search easier and save yourself a bunch of fourth dimension.
iii) Written report Primal Metrics
After you've identified your goals and familiarized yourself with the search process, you've likely constitute a handful of websites that fit the bill.
You lot'll desire to thoroughly read through each listing and identify the metrics that are important to you in order to narrow your determination downward farther.
Shopify helps make this process easier with sections for the seller to publish their concern story, operation, expenses, and sale inclusions with each listing.
Equally mentioned before, what's nice about Shopify Commutation is that some of the metrics are verified by Shopify.
While these metrics are helpful, they can be misleading, which brings me to my side by side tip.
four) Enquire Questions
While the traffic and performance metrics may be helpful, they can be misleading.
For example, a website may have high revenue, but that doesn't necessarily hateful information technology'south profitable. The seller could have spent more than money acquiring traffic than the website really earned through sales.
Fortunately, Shopify makes it easy for you to contact the seller to ask questions and asking more details to requite y'all improve insight into how the website acquires traffic or if they spend money on ad.
This is besides a dandy opportunity to find out what assets are included in the sale, in case information technology's not clear from the listing or if the seller forgot to include something that you lot remember is important.
5) Negotiate A Price
Shopify Commutation gives you the ability to submit an offer for a website if the listed toll isn't what you lot're willing to pay based on your cess of the metrics and assets included in the sale.
While request for a discount is ever uncomfortable, this step should be easier if you lot have a good idea of the value of the website based on your eCommerce experience. If yous can provide a skilful reason for making an offering that'southward lower than the request amount, then you and the seller should both come up out of the transaction feeling like you got a fair deal.
6) Protect Yourself
The biggest hurdle that about buyers face in a transaction such as this is protecting yourself so that yous don't get ripped off.
Fortunately, Shopify reduces that worry by providing an escrow service through Escrow.com that holds onto your money until yous and the seller are both satisfied that all of the requirements of the sale have been met.
While the transaction is in escrow y'all'll desire to account for all of the avails that were in the "Sale Includes" section of the listing and any other avails that you discussed with the seller during your correspondence.
Conclusion
Shopify Exchange is an amazing resource for eCommerce entrepreneurs who are looking to buy a Shopify website, merely don't know how to navigate the crazy world of marketplaces selling websites.
With Shopify Substitution, you get an intuitive experience that will save you time, and prevent whatever headaches you would otherwise get from buying a complex eCommerce website.
And then if you decide that buying an existing website makes sense for your business, be sure to cheque out Shopify Exchange and don't forget to read our postal service on how to fulfill orders in Shopify before your sales offset rolling in!
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Source: https://deliverr.com/blog/buying-shopify-marketplace-website/
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