Complete Guide For Selling A Shopify Store: Know How To Do It In These 4 Steps

Due to the immense popularity of the platform, buyers and investors are constantly on the lookout for Shopify stores for sale. It offers them a chance to take over an already established business on a platform that sees the traffic of millions of shoppers each year. Taking over a Shopify stores for sale is inherently more convenient than building a business from scratch. The buyer bypasses the risks and anxieties that most startups go through in their nascent years. Instead, they can simply take over the business, run it conveniently on the platform, and expand it in the future with ease.

If you have decided to list your Shopify stores for sale, then here’s a guide to help you successfully close the sale for maximum profit.

  1. Know the Value of Your Business

You need to establish a selling price for your business. There are several tangible and intangible components that need to be taken into consideration in achieving this. Some of the key factors include:

  • Financial Health: Naturally, one of the foremost aspects that a buyer will consider is the financial health of your Shopify stores for sale. After all, no one wants to buy a declining business. Instead, if your store is financially sustainable, generates healthy annual revenues, and is low on debt, its value will be high in the market.
  • Operational Performance: Apart from financial health, buyers also look for businesses that are easy to run. If your Shopify stores for sale has clearly defined processes and viable performance metrics, then you can expect a good valuation for it.
  • Age of the business: Shopify stores that have been in existence for over 3-5 years are considered more stable. Hence, they are more attractive in the eyes of a buyer and valued higher.
  • Diversity of inventory: Consumer trends and preferences change frequently. Over-reliance on a single product can reduce your market valuation. Instead having an inventory portfolio with diverse products and brands will up the value of your Shopify stores for sale.
  • Brand Image: Well-established original brands with good average feedback and high online traffic fetch higher prices when sold. It also helps to have a diverse source of the traffic to reduce dependency on a single mode.
  1. Gather Your Data

As mentioned earlier, the financial health and operational performance of your Shopify stores for sale are two of the most vital considerations in a buyer’s mind while evaluating its fair price. Therefore, you need to corroborate it with evidence.

Organize your financial information in one place. It should include profit and loss statements, annual sales and revenue charts, recent tax returns, debts and salaries paid, outstanding liabilities, and future growth projections.

Also, collect your operations metrics. Most of them can be easily retrieved from the Shopify platform such as customer traffic, average feedback, return rate, cart conversion rate, cart abandonment rate, etc.

  1. Stock Taking

Apart from data and metrics, you should also take stock of all the assets that will be included or excluded as part of the sale. List your inventory, technical infrastructure components like hardware and software (including licenses), IPR, supplier contracts, warehousing or shipping logistics, et al. Your final contract should clearly mention if these assets are to be transferred to the new owners or if you will retain them.

  1. List Your Shopify Store For Sale

Now, you should be ready to list your Shopify stores for sale. There are several avenues, each with its own merits, through which you can gain the attention of potential buyers. Several online platforms exist wherein you can list your store and highlight its unique selling proposition for the other participants to see. The interested parties can then contact you directly to take the discussion further.

You can also sell directly to a competitor or to an interested buyer from within your social or professional network. Many first-time sellers make use of a broker to mediate the sale. While a broker (due to their experience and expertise) can eliminate a lot of the hassles involved in the selling process, you may need to pay a brokerage that can be as high as 15% of the eventual sale amount.

Many entrepreneurs offer their Shopify stores for sale to reputed eCommerce acquiring firms. With years of expertise in the field, acquirers offer a hassle-free and seamless way of selling your store at its fair market price. Right from the business valuation to the completion of the sale, these professional firms ensure transparency and longevity of your store by either transforming it to make it future-proof and scalable or by integrating it as-is in their existing platform. Moreover, you will not incur any commissions, brokerage, or other charges in the process.

Using the abovementioned 4 steps, you complete the sale of your eCommerce store with ease. Here’s more on how to sell your Shopify store effectively, at the best terms, and for the most returns.

Leave a Comment