The Guide to Selling an Online Business on Flippa
Why sell an online business?
It might seem like a difficult task, but in reality, it’s straightforward.
There are two questions we need to answer here:
Why are you selling your online business? and, why sell it on Flippa?
To give you a clearer picture, the demand for online businesses today is through the roof. Take a look at the Google trends data for “buy website” in the past 12 months, you can see that the demand has been pretty consistent:
Digital real estate is gaining the upper hand each day — especially in this era where businesses and economies have become more reliant on the web.
If you have a digital asset, you might be thinking: should I sell the business or continue to run it? This concern is commonplace, especially among people who have bought and sold brick-and-mortar businesses for ages.
Getting a big lump sum payout might be a good reason to sell your business. For some, selling off their online business means they’ll work less, venture into new projects, or use it as a mechanism to pay off debt (eg. student loans, a home loan) and gain financial independence.
Perhaps you’d be happier with a payout equivalent to or even more than a couple of years of income. That way, you can (probably) retire or take a sabbatical and spend quality time doing what you love.
For others, you simply want to concentrate on another project and build a different profitable business, leaving you without the time needed to run this one.
The reasons for selling an online business are varied. I remember selling my business to invest in property while my friend sold his business to buy a car. Making a physical purchase may require a lot of money, which can take years to accumulate through traditional savings.
Do you need money for your kids’ college tuition? Do you wish to support your parents with their retirement?
All these and more could be why you’re excited to sell your online business.
As an entrepreneur, you’ll agree that starting a business can be exciting — while managing the day-to-day tasks can get tedious.
When it comes down to it, your business might have also outgrown your skill set, and you decide that selling the business to someone else with the needed skill set is better for everyone. You can access the funds and freedom you’re after, and you’ll pass on your business to a new owner dedicated to running the business.
The decision to sell your business comes with a mixed bag of emotions. We’re here to guide you through the process of selling your online business — so that you can get the most out of it.
Why sell your business on Flippa?
Flippa is not only the original platform to buy and sell online businesses but also the biggest and most reliable platform to sell your online business. Over the past decade, Flippa has closed the most sales ($400 million+), attracted thousands of loyal buyers, and created an easy-to-use platform (even for beginners).
With well over 1.5 million active users, Flippa attracts around 5,500 new users each month. This has led to over 10 million searches every month. Flippa also has an active userbase, constantly engaging with the site, browsing for new listings, and starting meaningful discussions between buyers and sellers.
You’ll soon discover that Flippa makes selling and buying online businesses straightforward and user-friendly.
1. Flippa is a peer-to-peer platform
Flippa is a peer-to-peer platform – unlike other marketplace platforms, you don’t need to hide behind brokers or other service providers if you don’t want to do so. You can create your listing and provide as much detail as possible.
You can chat directly through the Flippa platform and easily answer questions posed by buyers. And most importantly, you can determine the price you’re willing to accept for your business. You’re completely in control, and its great place to enter into a buysell agreement, prequalify buyers, sign a purchase agreement, confidentiality agreement, plus a whole lot more.
2. Flippa lets you negotiate with potential buyers
Another defining factor that makes Flippa stand out. Yes, you can negotiate with potential buyers. We encourage it!
You have spent the time building a business ready to sell, so it’s entirely up to you what you’re happy to sell it for. Flippa simply supports you along the way, providing information on valuations, putting your business in front of the greatest number of acquisition- fit buyers, and facilitating discussions between buyers and sellers.
3. Flippa provides safe transactions
Do you want safe and seamless transactions? Flippa’s got you covered. You can feel confident through Flippa’s service or Escrow, knowing that your transactions will go smoothly and without a hitch.
Nothing is more important than ensuring safe and secure transactions on any platform, especially when selling a business you’ve worked so hard on.
4. Flippa is an affordable marketplace
Flippa is an affordable service. The listing fees are low, and the success fees are the best in the market. While you may stumble across similar marketplaces that don’t ask for a listing fee, they also don’t come with the technology, the security, and the engaged user base that Flippa brings to the table.
5. Flippa’s Broker Matching
When you join and list your business for sale on Flippa, we offer two options; either ‘self-service’ or ‘broker matching.’ A broker might be the best option if you want extra support selling your business. Brokers will review your valuation, work with potential buyers, help prepare critical paperwork and field offers and manage the DD process. You can find out more about Flippa’s Broker Matching program here.
What is my business worth?
Many sellers, especially first-time sellers, may not know where to begin determining their business value. Flippa is the best place to be for anyone selling an online business.
As the largest and most established marketplace for buying and selling online businesses, we come with the greatest amount of sales data to give you an accurate assessment of what your business is worth.
Valuing a restaurant or a laundromat may seem easier since decades of data are available to study and refer to. Still, we’ve compiled ten years’ worth of business sales data to help make the valuation as straightforward as possible.
Keep in mind that buyers are looking for opportunities, but they’ll pay for performance. This is important to remember when deciding on your business’s value. Sellers often tell us, “my business is worth $XX because of the incredible growth opportunities.”
While that might be true, most buyers base the value of a business based on past performance and proven revenue. Some other factors may play into your business valuation, such as:
- If a business has any legal issues (e.g., a business partner, competitor, etc.).
- The type of deal structure.
- A business’s credit history (e.g., business credit cards).
- Customer base loyalty.
- Legal documents (e.g. noncompete agreement, intellectual property, employee stock options, etc.).
- Financial modeling (e.g. the level of detail of financial records or the type of accounting principles a business uses — top-down accounting or the bottom-up approach).
- Wealth management and how a business handles the profit (e.g., what types of assets a business holds on its balance sheet).
- Revenue channel diversity (eg. An HR software business might run on a SaaS model, whereby customers pay a monthly fee to use a business’s software. Still, it also might have other revenue channels such as big data, affiliate commissions for referrals, business advertising options, etc.).
- Are there opportunities for increasing sales?
You can also use Flippa’s online valuation tool to find an approximate value of your business that will assist you in your exit plan.
So what does it mean when we say buyers are looking for ‘opportunity’ in an asset? They are looking at your page views, keyword rankings, social media following, email subscribers, website age, and the potential revenue that could be generated. But at the end of the day, buyers pay for performance.
So, let’s dig in and first look at how you will want to value your annual earnings.
Seller’s Discretionary Earnings (SDE)
What’s the valuation of your business? To address this critical question, let’s explain what performance looks like, and for Flippa, the Seller’s Discretionary Earnings (SDE) is the best metric.
SDE gives a meaningful and realistic view of how your web business has performed in the past six months, one year, or within a given period. Past performance can be the benchmark for valuation, and SDE provides an easy way of valuing a small business managed by one or two owners.
It also considers what is listed below, which consists of the non-carry forward costs.
The pre-tax, as well as the pre-interest profits before non-cash expenses, reveal how much money you’re generating from your business annually.
Any one-time expenses can be removed from your list of expenses. For instance, if you had to pay $25,000 to have your website built or $5,000 for a legal consultation, you can remove these expenses from the valuation as they won’t need to be paid again – it is a one-time expense that a new owner won’t need to worry about.
Any non-related business expenses can also be removed. For example, business meals, trips, automobile payments, health insurance, or other expenses won’t necessarily apply to a new owner.
And finally, you’ll want to add your salary back into the profits as it will be up to the new owner how much they choose to pay themselves.
Assuming you have had some one-time expenses and are taking a salary, your SDE on your profit and loss statement should be higher than your EBITDA.
What are the average sales multiples on Flippa?
Buyers look for opportunity but they pay for performance.
The sale multiple will depend on the type of digital asset or online business you want to sell on Flippa. Below are some of the most common types of assets and the sales multiple you can expect to see. But keep in mind every business is different, and you need to consider the nuances of any business when determining the business’s value.
A content site can be a review website, an online magazine, a blog, or any other content-based website. Content sites usually generate income through advertising or affiliate programs. Here’s an example from Outdoor Mancave, which sold on Flippa for $138,000, 2.3x SDE:
On Flippa, content sites tend to be valued at around 1.95x annual SDE. Keep in mind that this is only an average and may not apply all the time, take the sale of Outdoor Mancave, for example. Over the years, many content sites have sold below and above this multiple, going up to 6x SDE.
Content sites that are highly valued usually generate huge traffic but have been under-monetized (or not monetized effectively).
During the valuation, this monetization opportunity can be factored in. However, that opportunity isn’t set in stone; you’ll need a buyer willing to pay for the opportunity, and as we’ve mentioned, buyers are always looking for proven value first.
eCommerce stores can either be branded websites built on Shopify, BigCommerce, Volusion, WooCommerce, Amazon shops, eBay stores, or similar online stores on existing eCommerce platforms. Regardless, they’re valued based on their revenue and profit.
Although the average multiple might be similar to a content site at 1.85x annual SDE, we have seen around 4.5x annual SDE, which is the max we’ve recorded for eCommerce-related stores.
Overall, Software as a Service (SaaS) tends to produce the highest average sale valuation. It usually starts at around 2.7x annual SDE due to the recurring revenue models, a hot commodity among investors and entrepreneurs alike.
In a SaaS model, buyers also know that the average lifetime value of a customer and the churn rate are equally important. If customers stick around for years, buyers will be more inclined to buy such businesses. Retention drives the real value in a SaaS business, bringing your value up to around 4.8x annual SDE.
Remember that these are only the most common online business models sold on Flippa. We’re a large marketplace, and we see many different types of online business models listed for sale. As the industry grows, many more online businesses will be listed. Of course, there are apps, starter sites, YouTube channels, social media accounts, newsletters, and podcasts. Anything with a URL can be sold on Flippa.
What’s the best advice for sellers?
- You need to figure out your numbers. The ultimate goal is to get the best valuation for your business. So you need to make sure your SDE is calculated properly.
- Use our valuation tool! You’ll find a handy tool that uses an array of analytics to provide a clear idea about your business, what it might be worth to a buyer on the platform using the sales data we’ve gathered for ten years, and how best to maximize the value.
If you’re looking for more information on valuations, reach out to one of our valuation experts at [email protected], who will be more than happy to provide additional guidance and assistance.
Remember that this is ONLY a guide — since every business comes with its peculiarities and requirements. Your business valuation will be peculiar to your business model.
When is the best time to sell my online business?
The best time to sell your online business is now. It doesn’t matter whether you’re reading this guide today or three years from the day of publication, the digital landscape is experiencing exponential growth, and there’s no sign of stopping.
So when is the ideal time to sell my business?
We have to consider three components when it comes to timing your sale.
Is your business consistent?
Consistency is key, and that’s what buyers on Flippa yearn for. They want to see consistency in performance. If you can provide data over the past 12 months on how your business has grown and run without any hiccups, then you know it’s time to sell.
If there are some inconsistencies, be sure to provide a logical reason for such inconsistencies, and make sure they’re well highlighted in your listing to enable buyers to make better buying decisions.
Is your business on the rise?
Above everything else, buyers are looking for a business that has experienced an upward trend. Month over month, your subscriptions, page views, and, more importantly, revenue are rising. Flat-line growth could mean consistency, which, as we’ve said, will often attract buyers.
However, if your business has declined, this may be the one factor that makes you hold off on selling (for now). Buyers will be concerned and skeptical, and if you can’t logically explain the decline, it might not be the right time to sell.
Do you want to sell?
We always advise business owners to sell when they want to, not because they have to. If you’re not yet ready to take the leap, don’t. Once the sale is completed, we want both buyer and seller to be happy with the outcome.
If you don’t feel you have the ability to negotiate or say “no” to an offer, you could be forced into a sale you’re not completely happy with. If you’ve set your price fairly, you’ll be able to find the right buyer on Flippa for your business.
Mistakes to avoid when selling a business
If you’re considering selling your small business, here are some of the common mistakes to avoid:
- Selling for a low value: Make sure when you’re checking accounts to determine whether the business is profitable, you pay attention to the cash flow to ensure you’re selling your company for the right amount. You don’t want to underestimate the company’s value. Put a price on the business to ensure you receive maximum value.
- Selling for too high: On the other end of the scale, many business owners think their business is worth much more than it is. No one is going to want to sign a sales contract on a business that is overvalued.
- Not being up to date on financials: Poor financial data could deter people from purchasing. To avoid selling for too high or too low, ensure you have quality accounting software that can provide a balance sheet, other financial statements, and other information about your business that could help sell.
- No financial advisor: Selling businesses isn’t a black and white task, so make sure you have someone who knows what they’re doing to back you. Business brokers are well versed in everything you need to know, from business loans and business insurance to capital gains, contract law, and intellectual property.
- Marketing the wrong way: You want to ensure you sell the business to a qualified buyer. To do that, you should target your marketing to prospective buyers via the right platforms. Flippa is the ideal online site that allows you to sell the company confidently.
- Forgetting important business administration: To sell the business, you must keep on top of all your business banking, business tax, commercial lease agreements, private equity, savings accounts, and even stock purchase details.
- Selling at the wrong time: Whether it’s the wrong time in your life to sell or the wrong time for your target market (if you sell Christmas products, you don’t want to sell your business in February, but rather wait another six months), make sure you sell at the right time. Have a succession plan in place.
- Not informing employees: Be sure you let your key employees know of your plans – you never know, they may want to buy the business themselves, or they’ll want to work out an exit strategy if they don’t want to stay on with new owners. Distributing letters of intent to sell is an easy way to do this.
How to list your online business on Flippa?
You now understand the benefits of selling your online business on Flippa. Now, you need to understand how to create a great listing that will attract the buyers you want. You’ve worked out what your online business is worth and determined the price you’re happy to sell for. Now, it’s time to get the most out of your business by creating an attractive listing.
We are asked time and time again how much information should be provided on a business listing on Flippa. The answer is “as much as possible.” Come to the process with as much information at hand as possible so that you can create an informative listing that highlights all aspects of your business. When in doubt – more is better!
Ultimately, a business is only worth what someone is willing to pay. Our goal here is to teach you how to get the most out of your business by creating a top-notch listing and taking advantage of some of our marketing tools and tricks.
Start Selling on Flippa.
The process is straightforward. Head to Flippa.com and click “start selling” in the top right corner of the screen. (Or just click here if you’re ready to go!)
1. The first choice that you’ll come to is what sort of business you are selling.
Enter the URL and we’ll prompt you to choose the type of online business you’re selling. You will see six of the most common types of online businesses sold on Flippa, or you can select from any digital asset type. If you can’t find the right business model select ‘Other Asset’ – we sell any and every type of digital asset!
2. The Basics.
What’s your business name, when did you start your business, what country is your business located in, what industry do you operate in and a bit more information on the specific asset type.
3. How does your business make money?
Now we get to really jump into your business. Based on the type of business you selected you’ll be provided with prompts for how your business makes money. If these don’t fit with your monetization, select ‘Other’. You can select more than one option for how your business is monetzied.
If you need some help figuring out how your particular business is best listed on Flippa, please feel free to email us at [email protected] or schedule a call with one of our onboarding experts through this link and we’ll walk you through the process and make sure you get set up correctly.
4. Product Integrations.
We can’t emphasize enough how important this step in the listing process is to help you make a sale. Linking any integrations you can such as Google Analytics, Stripe, Quickbooks, Paypal, Google AdSense, WooCommerce, Shopify, BigCommerce, etc, takes just a couple of clicks and will provide potential buyers with verified information about the revenue you make and the traffic coming to your website. This step is one of the most important factors in most online business sales on Flippa.
Based on the type of business you are selling, you’ll be presented with a number of integrations to choose from.
We probably don’t need to tell you how important it is to provide your financial history. Revenue and, ultimately, profit is what most buyers are looking at first and foremost. They want to know if you’re making money and how much.
We allow you to sync with Stripe or Quickbooks if you use these platforms, but if not, it is worth every second to upload your information by hand. We only look for revenue and expenses, so this process doesn’t take very long, even when done manually.
On top of uploading your numbers to our system, we highly recommend you upload further proof of revenue. This can be screenshots of the backend of your Shopify store, a video walkthrough of your subscription service revenue, or we’ve even seen users upload tax returns with any confidential information redacted.
6. Build your listing.
This is where you get excited about the business you’ve built. Lay it out there for potential buyers and think about it from their point of view. What would you want to read about if you were considering a large investment in a business that somebody else created and you are only learning about for the first time today?
Flippa makes it very easy to list your online business for sale. All you need to do is follow the guidelines, fill in as much information as possible, add images, add a video, anything that will help you stand out to potential buyers.
The biggest tip we can give for this portion of the listing is to be highly descriptive but not to the point that people will stop reading.
For instance, if you run an eCommerce business, don’t simply say, “we make money by selling our products.”
Go into detail about the process. For example:
We source the products from a supplier, those products are shipped to a warehouse, and we sell the product on our website via Shopify and Amazon. Our profit margins on Shopify are XX%, and our margins on Amazon are XX%. The average order value is $XX. We sell XX number products on average each month. We only see X% returns, and those are handled by X business.
Let buyers know about every positive aspect of your business. Do you have a strong social media presence? Do you see incredible ROI from Google or Facebook ads? Do you have an email list? Do you have hundreds of articles on your website ranking on Google? Do you have 5-star reviews? Lay it all out there. Sell sell sell.
7. Transparency is key
Don’t be afraid to mention any weaknesses. Transparency is key; our buyers want to know if there are any skeletons in the closet. It’s okay if you aren’t great at SEO. It’s alright to let people know that you were preoccupied with something else for a couple of months, and that’s why the numbers were down during a specific period.
Buyers want to know what mistakes have been made so they can be sure they know how to manage similar instances in the future and are looking for businesses that can be grown using their expertise.
Let the buyer know why you’re selling a profitable business. Are you spending too much time elsewhere? Has it grown outside of your expertise? Are you looking to make a large purchase (like a house or car) and need cash in hand?
Provide some insight on who would be successful with this business.
- Is this meant as a side project or a full-time gig?
- Would the new owner need expertise in any specific business or technology sector?
- Do you think business growth has stalled because you aren’t an expert at Instagram advertising?
The more information, the better.
Finally, be sure to upload an eye-catching image. It might feel like a screenshot of your site works just fine, but you must consider this as a marketing person and try to catch a potential buyer’s attention. Using a bold image, a stock photo, or a favorite image from your website can often be more impactful than a screenshot of text.
Auction vs Asking Price
Flippa offers two distinct methods for selling your business. Auction and Asking Price.
The auction option allows users to bid on your business, ideally driving the price up as excitement grows. With an auction, you can also set a “reserve” price, essentially the price that an auction must reach for a sale. Auctions last for 30 days and, in the end, if unsold, will automatically convert into a static listing, so you can still make a sale even if bidding was slow for any reason.
You can also set the price at which “bidding starts.” A lower minimum bid will drive interested buyers to your listing and increase competition between buyers.
We recommend setting the starting price for your auction at a number low enough to draw attention and generate excitement but not so low that you see people with no actual intention of purchasing your business getting involved.
For instance, if you believe your business is worth $40,000, you might want to set your reserve price to about $30,000 or $35,000 (depending on what you’d be willing to accept) and set the auction price to begin at $10,000. If you set the auction to start at $1, you’ll get some bids, but people bidding $5 aren’t likely to scale up to the true value when the time comes.
Asking Price Listings
Asking Price Listings allow you to set a price, then negotiate directly with buyers. These are more common for high-value assets as people need time to do their due diligence when looking to spend a lot of money. With this method of selling, negotiation is the name of the game. Your asking price is considered the starting point for negotiating directly with buyers.
Buyers can make reasonable offers above and below your asking price. You can approve or reject all offers and change your asking price anytime.
Your listing will remain live on the marketplace until it is sold, removed, or canceled.
A great listing example.
We highly recommend you take a few minutes to watch the below video of Stefan and Blake leading you through a great example of a recent listing to help you get a feel for what works before venturing off to list your own assets. You can skip the leadup if you want and jump to the example at the 3 minute mark.
All said and done, building the best listing on Flippa is about quality over speed. Take the time to get all of your eggs in order. Come to the table with your Google Analytics connected and any other integrations you use, your financials updated and input and any supporting documents uploaded as attachments.
Take the time to put all of the details of your business together in extreme detail so that potential buyers get excited by what you’ve built. If you are in a rush to sell your business, you’ll close the deal far faster if you take several hours to develop a stellar listing rather than rush the process. Saving a few minutes upfront will cost you days, if not weeks, as people simply won’t be interested in what they see.
Take your time, put in the hard work, and check out our article on how to draw attention to your listing!
Finalizing your deal
By now, you have seen the benefits of listing your online business on Flippa, you know how to create an irresistible listing, and you know how to attract potential buyers to your listing.
The last puzzle piece is understanding how to close the deal correctly!
Interestingly, there’s no steep learning curve at all. Flippa’s platform simplifies everything and makes it as seamless as possible. However, you must understand a few key things, starting with accepting an offer.
Respond to the right offers
When you receive an offer, you have a right to accept or reject it. An “offer looks good” shouldn’t be the criteria for accepting it. We always encourage sellers to be verified and establish trust with buyers.
This scenario also plays out on the part of the buyer. They have to build rapport with sellers.
As excited as you might be when you get an offer, getting to know the buyer first is important. How critical can this be? Well, you’re going to do business with this person. It’s a major transaction, and you want to be confident that you can trust this person.
You might want to review their profile to see if they’re verified and have a good history. Of course, new buyers may not have a history — yet, it’s a great place to begin your ‘relationship’ journey.
Always speak to the buyer before accepting an offer. You need to get a feel for them and then make your decisions based on how trustworthy you perceive them. A quick message might just be the magic pill you need to know a bit about the buyer, which is a great way to prequalify buyers.
Ask yourself, “can this buyer pay and be able to pay on time?” What is their personal financial situation? While you may not need to hire a private detective to conduct a deep investigation, take the right steps to establish a communication layer when closing your deal.
Don’t close a deal or transfer assets off the platform
Yes, Flippa is a safe place for buyers and sellers to do business. We have achieved great security and satisfaction for buyers and sellers. That said, you also have a role to play to ensure your satisfaction at the end of the day.
Flippa has set policies and practices in place — all aimed at driving a smoother transaction between buyer and seller, and it wants buyers to get what they pay for and that the seller gets a fair price for their business.
Suppose you decide, for some reason, to complete the transaction outside of Flippa. In that case, it’s hard to protect yourself if the seller absconds with your money or when unscrupulous behavior arises from either party.
Payment platform options
To help foster smooth payment from the buyer to seller, Flippa integrates with PayPal for lower-value transactions, which makes for a nearly instantaneous transaction. PayPal is mostly used for starter sites and other low-value digital assets.
For the majority of high-level businesses worth thousands of dollars, Escrow.com is the best bet. Escrow provides a convenient, transparent, simple, and safe transaction. The goal is to safeguard your funds and keep them safe until the transaction is complete.
Once the buyer receives the assets, they have to accept and acknowledge via the escrow portal that they have successfully received them. Only then will the funds be released to the seller. If the unforeseen happens while the transaction is still ongoing, Flippa can protect you. With escrow, it’s a win/win for the seller, buyer, and of course, the credibility of this platform.
Suppose you live in a country or territory where neither PayPal nor Escrow.com is operational. In that case, Flippa can also employ other payment options to make it easier for you to accept a payment to your bank account.
If that’s the case, email [email protected], let them know the situation you’re facing, and they’ll quickly step in with a payment solution for you and your buyer.
Flippa sales experience has two fees you need to be acquainted with:
▶ The listing fee.
▶ The success fee.
The listing fee is paid upfront when you list your business for sale on Flippa. These flat-rate fees may vary depending on the type of asset you want to sell. You can check this on the website or look at the image below.
When your business is sold, you can expect to pay a variable success fee, depending on the sale price.
For a lot of people, it usually boils down to 10% of the total sale price, for sales up to $50,000. However, as the value of your digital asset sale increases, there’s a decrease in the fees, which makes Flippa the cheapest place to list and sell your web business.
How to generate interest in your listing
Now that you’ve fully understood the process of setting up your listing, it’s time to create awareness, drive traffic to your listing, and attract potential buyers to your listing.
Since you’re here, we know you’re an entrepreneur. You have successfully created or purchased some type of online business.
As an entrepreneur, you already know that the theory, “If you build it, they will come” only goes so far when it comes to driving traffic to a website or listing. It’s essential to embrace the principles of marketing.
Yes, Flippa has a powerful search functionality and algorithm that will most certainly drive organic views to your listing. But you have to do a few things to help your listing gain as much attention as possible.
To get started, let’s be sure we’re on the same page. Make sure you add these easy items to your listing to make it stand out.
Be sure to complete your seller verification
Your seller verification is visible on your listing. It appears on the side of your listing, and it can be a form of social proof for potential buyers. Going through the steps for seller verification might not mean anything to you, perhaps you think it’s an internal admin thing, but it’s critical to the success of your listing.
It’s recommended that you take time to go through the three steps (email, phone, and photo ID verification). This will portray you well among buyers (and viewers) that you’re a reliable and trustworthy seller.
As an entrepreneur, nothing beats earning trust. Regardless of the type of business you’re doing, you need to earn the trust of your target audience.
Everything isn’t all about the digital asset you’re listing for sale, it’s also about who you are, and how you have built that asset. Buyers are looking for relationships; they want to connect on a deeper level with a like-minded serious seller.
Be active on your listing
Engaging with your listing is essential. It’s a requirement if you want to get more views and build rapport with potential buyers.
Remember that most buyers on Flippa are browsing the platform and searching for any new opportunities that meet their criteria.
These potential buyers are watching several listings at a given time, as they go through their due diligence processes. If you don’t want your listing to get lost on the platform, it makes sense to fan the interest that people have shown already.
Being active on your listing means two things:
▶ Engage users by responding privately to their messages, and
▶ Engage users in the comments section.
Respond to messages
When you respond to private messages, you want to be quick and detailed. Since Flippa is a popular platform that supports a global community, there’s a chance you won’t reply to messages to a user immediately as their message might be delivered while you’re asleep, but do all your can to respond to their comments and questions within 24 hours.
By being responsive to their messages and replying to them on time, they’ll get excited and feel confident that you’re dedicated to your business.
Be active in the comments
Never overlook this important engagement step. Being active in the comments section is critical if you want to establish that you’re a trusted seller on Flippa. This is one of the best tools on the platform to connect with users.
When your listing receives a comment, several people will be notified via email, including people who are watching that listing. So also is your comments and answers, they will be sent to everyone who is currently watching the progress of your listing.
Upgrade your listing
There are several options to upgrade your listing, with the ultimate goal of increasing your views and reaching more people. The more buyers that see your listing, the more chance you have of matching with the right buyer for your business!
If you want to scale your listing, you may want to consider using these as leverage to attract more views. It can give you an advantage when it comes to selling your digital asset.
You can use the various boost packages to get your listing featured on Flippa’s search results, get your listing to show on the home page, listed on the daily email that’s being sent out to thousands of buyers, and have your listing advertised through targeted social media platforms.
In addition to the viewership, you can also have an interview posted to your listing to help give your business that human touch. This can make you more approachable and buyers more excited to buy your web business.
Recently, Flippa has also made it possible to have one of our experts guide you in optimizing your listing with the right language and details that have proven to generate the most response.
When selling through Flippa, you can require potential buyers to sign an NDA (non-disclosure agreement) before they’re allowed to access critical details about your asset.
End your auction on a Friday
According to our data, Friday afternoons, US time, generate the highest traffic to most listings on Flippa. Why? No one can tell for sure. But likely because a lot of people want to take back control of their lives — perhaps they’re tired with their day jobs and chose to browse the platform for any entrepreneurial investment.
Highlight the sale to your own network
You don’t have to keep your sale quiet. If you’re confident and happy about your digital business, why not tell people about it. Let them know it’s for sale! Send email to your customers, talk about it on discussion boards and forums, post about your listing on LinkedIn, etc.
Keep in mind that marketing your business to people you already know, or people who know you could be the best marketing strategy.
Flippa has grown into a massive marketplace. There are hundreds of thousands of users landing on the website each month looking for amazing business opportunities.
Yes, Flippa’s listing upgrades and options for gaining more exposure are important, but that shouldn’t deter you from marketing your listing by yourself. It never hurts to reach out on your own, and do more.
The best way to begin your journey with Flippa is to create a relevant, beautiful, and detailed listing. Then you need to go through the seller verification process so that potential buyers can feel confident when doing business with you. You should also put the Flippa sale banner on your site header (code provided by Flippa on your listing page). You never know if one of your viewers might turn out to be a potential buyer.
All in all, you have to be prepared and patient when selling your online business. You should have a selling price in mind (rethink if you don’t already have this) the moment you decide to sell your business.
Our final tips for sellers:
Be prepared and patient when selling your online business. When you decide to sell your business, consider a selling price (rethink if you don’t already have this).
Patience is key. It can sometimes take days or weeks to find the perfect buyer. Deciding on why you’re selling from the start of your journey will help you manage and set your expectations as to the price and timing of the sale.
Go through the seller verification process so potential buyers can instantly see that you are a trustworthy partner. Finally, take advantage of the tools that Flippa provides, such as our marketing boosts and the comments section of your listing.So what are you waiting for? Get started with Flippa today!