So you’ve already decided to sell your online business and hopefully you’re thinking about hiring an experienced website broker like those working at Website Closers to help you.
There’s no doubt that you already have the end goal of the final offer, the legal aspects and signing over the business in mind. In fact, this can help to keep you focused when you are first thinking whether or not it’s truly time to sell your business. You might have put plenty of legwork and effort into building your company, but now feel as though it’s time to move on. If this is the case for you, you are not alone.
Plenty of online business owners who turn to Website Closers for help with valuing and selling their business already have an end goal in mind. And envisioning this process can help to keep you on track and verify that it’s the right time for you to sell.
After due diligence has been completed when listing your online business for sale, a buyer will either pass on the deal because they identified information in their review that did not pass due diligence, or the buyer will make a final formal offer.
The original offer presented by the buyer might be adjusted, based on details reviewed in a due diligence process. In the event that the company did pass the due diligence inspection, your website broker will put together a standard contract for sale.
This contract is likely to contain numerous terms, such as the major aspects of the deal, noncompete details, the assets being sold, and the training and support terms would be provided by you as the business owner in passing on the company.
In many of these online deals, you will be selling the assets of the company and not the company itself.
This is the distinction between an asset sale versus a share sale. After all parties have reviewed and signed this contract, the transfer process begins. This process is carried out over several different stages including:
In these situations, it is beneficial to have a knowledgeable business broker, guiding you through the process.