subject: Contact an Internet Business Broker for Buying or Selling an Online Business [print this page] Contact an Internet Business Broker for Buying or Selling an Online Business
The internet has forever changed retail, and businesses, as well as brokers, have evolved with it. Nearly all physical stores have a website, which makes sales after hours. Some former physical businesses have closed their physical doors and instead concentrate on an online strategy for sales. The benefits of going online are more than just 24-7 sales, however. Workers for online companies often telecommute and can set up their computer and internet connection from nearly anywhere.
Although "be your own boss" scam job advertisements use these points as benefits in creating online businesses, a successful internet company starts with an individual or small group of people tirelessly trying to make sales and increase visibility. Success on the internet seldom happens quickly, and online businesses can take a few years to turn in a profit and offer all workers a steady stream of income. Nevertheless, owning a successful online business has its perks, and business owners are considering them more as a viable option for running a company.
A business broker who sells online companies takes these factors into consideration. Once a successful domain is up for sale, potential business owners start clamoring the broker or current website owner with requests. Although many think they can run a successful online business and dream of working from their living room, most do not have the potential to run a successful internet business.
A business broker, with the current website owner, puts together a prospectus detailing the rise of the company, its nature, products or services, and future. The business broker typically forwards requests to the owner, who proceeds to interview each candidate about their experience and intentions.
If you want to own a website business and contact a business broker about a domain, what will the broker or website owner ask you? Generally, one party may ask about your experience in ecommerce. Managing an internet store, from inventory to advertisements to employee communications, differs from brick-and-mortar establishments. If you only have experience with the latter, your background may not be sufficient.
The new owner of the company should also be an expert on the subject, and if you are not fully familiar with the products or services provided by the website, you may not be the best candidate. Similarly, the owner wants to see where you could take his or her company over the next five years, and you should come prepared with a plan for growth. If your idea of growth, however, is changing the direction of the business, the current owner may look for an individual who can continue his or her vision.
