When you are attempting to find a buyer for selling your Amazon business, you may be eligible to ask other FBA sellers that you know who may be interested in buying. You can also advertise on classified sites and other online marketplaces but it is strongly recommended that you find an online business broker who has experience in this field.
What Can a Broker Do?
A broker will help you with a number of different aspects of the process of transferring your Amazon account, including presenting your business effectively so that it’s appealing to buyers. They will also help you find ideal buyers, assist you with the negotiation process and ensure that you get paid. Depending on the profit levels currently in your FBA business, a broker will likely charge a percentage of the sale price.
A broker can also help make this process of transferring an Amazon account more streamlined. Even if your business appears to be a perfect fit for a buyer, it can take months to close the deal. Many buyers are afraid of loss which means they will spend a lot of time on due diligence to identify reasons not to buy your business and choose it for someone else.
Common Challenges Before Transferring an Amazon Business
Common hurdles could include whether or not your books are completely accurate, whether your suppliers are reliable and easy to deal with, and whether or not you are able to answer questions from buyers.
The best way to transfer your Amazon FBA business is to transfer the entire whole seller central account to the new owner. This is the fastest and cleanest way possible because you will not need to move stock or anything complicated like that. You would need to update the EIN, your bank details and the address details for the account and then be able to transfer your Amazon business.
A buyer will likely also pay for this stock at the time of the transfer for cost, which can include any shipping into the warehouse. Using an escrow service provided by your online business broker or identified by your online business broker is a great way to ensure that you get peace of mind in knowing that the buyer is serious about transferring the Amazon account.
When transferring an Amazon account, you need to do your due diligence as well to verify that the online business broker you have chosen to work with has plenty of experience in the field and is committed to the best possible outcome for you. Using an escrow service means that the cash is held by a third party and only after both sides are happy with how the transaction has unfolded, are the funds eligible to be released by a wire transfer to your bank account.
When transferring an Amazon business, there is no doubt that you will have plenty of different questions and you will likely need the support of an experienced online business broker who has been working in this field for many years. Identification of the right online business broker can make this process much easier for you and clarify many of the common pitfalls that can be easily avoided with the selection of the right person.