There are many different steps involved in selling your Amazon FBA business and these can all be exciting or even overwhelming, depending on whether or not you’ve retained the services of an online business broker.
If you’ve worked long and hard at building an Amazon business that turns a solid profit, you’ll be personally connected to the process of selling that company, too. It’s tempting to think you might want to handle the end-to-end sale on your own, but without a broker to help guide you, you could miss out on valuable opportunities. You need an experienced online business broker to help you sell your Amazon business.
How to Begin the Process of Preparing to Sell
The process typically begins with a business evaluation to verify potential value of your company. After you get the initial evaluation, hiring a business broker is very valuable. After you have identified the right business broker to select to help you with this process, you will develop a prospectus and search for buyers. There is a strong chance that your online business broker already knows potential hires who may be the right fit for your company.
What Are Buyers Looking For?
Buyers of a smaller FBA business will usually have a set amount of money that they are looking to spend and may be looking at numerous different options to get best deal for their investment. Individual buyers might include digital entrepreneurs who want to grow their portfolio, corporate employees who are looking to replace their current income, or even owners of more traditional businesses who are looking to make the jump into the online space with a proven business method. After you have completed the deal with the support of an online business broker, you need to hand the reigns over to new management.
After you have negotiated a suitable agreement, you must have a plan in place in handing the business over. This includes transferring the assets of the business to the buyer, including transferring your Amazon FBA account. There is a lot of misinformation online about transferring an Amazon FBA account but your online business broker can help you with this process and make it much easier for you so that you can focus of the other aspects of the sale, such as training the new management. You will want to train the new owner on how to operate the systems.
Typically, sellers offer up to 40 hours of service over the course of the first 90 days but this can vary based on the scale and complexity of the business. Transitioning and training typically happens via emails, screen share and telephone. Typically, most buyers will not need the full 40 hours since an already established Amazon FBA business is much easier to transfer.
Transferring an Amazon FBA account should occur after the sale of the company has completed and this means hiring the right online business broker from the beginning to help you target the right person to take over the company.
At Website Closers, we help you find the right fit while avoiding many of the common pitfalls of selling your Amazon business.