Selling your business is a huge step for every business owner. Finding the best offer, the best buyer, and negotiating the final price can sometimes be a hassle. The very first step? Deciding how you’ll sell your business, who you’ll sell it to – and finding a potential buyer. So – how exactly do you find a buyer for your Amazon FBA?
Our comprehensive guide is tailored to answer all of your burning questions. Our guide will solve all your dilemmas, so you can make the right choice for you and your business. Here, we answer the three most important questions every seller has:
Before researching the potential buyer, you need to decide whether you will hire a broker, or do the sale on your own. A broker is an individual or a company that is dedicated to guiding and helping you in your journey. They have connections with the buyers and the tools to negotiate a good deal. Once you hire a broker they will be with you from start to finish. However, brokers charge a 10-15% fee on the final sale.
A private sale means that you will be directly in contact with the buyers and negotiate your terms and conditions. You will be involved every step of the way and be able to make decisions on your own – and you keep all the profit from the sale. Contact Benitago to work directly with us and make the most out of your sale.
Whether you go with a broker or decide to do it alone – you’ll need to find a great buyer. With so many options out there, there’s the potential to either get scammed or simply not have your needs met. It’s very important to know exactly what to look for.
No matter if you decide if you want to go with a broker or do it yourself you will have to find a good buyer. With so many options out there it is very easy to get scammed or not have your needs and desires met. Therefore it is very important to know what to look for in a buyer.
– Offers a fair price
– Funding readily available
– A fast and accurate process
– Experience with Amazon brands
The first thing you need to make sure of – that the buyer will offer a fair price. Things can become tricky when selling your own business. It’s very easy to get entangled in endless conversations about the value of your brand.
How to avoid any unnecessary headaches? Determine your price, leaving space for the buyer to make an offer. Always be ready to properly present both sides of your business, so the buyer can make a good judgment.
Benitago will match any price you have been offered – and will offer a $250.000 additional payment on top of that. To find out more, click the banner on top of the page!
Once you’ve determined the value of your brand and decided on a fair price for your business, the next step is checking if the buyer has the funding they need. Buyers raise money from investors – but in some cases, the funding won’t have hit their account yet, and they’re making false promises. Sometimes, they may have less funding than they’ve promised – or it might be over budget. In both cases, you may be left with a lower offer, or left on a waiting list for future payments.
Before signing any agreements, it’s very important to determine how much money the buyer has in their possession.
Determining the buyer’s reliability is the next step. It’s crucial for you to feel comfortable during the sale, and confident in their experience and knowledge. A reliable brand will follow up with you at every step of the process, making sure you feel comfortable with the steps they are taking. A reliable brand will never disappear. They will voice their concerns and update you promptly.
Speed is of the essence in this process – once you’ve entered the conversation about selling your business, it should be as fast and accurate as possible. A good buyer will already have established the steps from beginning to end. It’s a major red flag if the buyer doesn’t have an established step-by-step process. If you notice this happening, immediately raise a concern – ask for a step-by-step manual of the process, together with a timeframe and deadlines.
Last but not least – always check the buyer has previous experience with Amazon brands. The buyer will pay you in one of the following 3 ways: upfront cash, stability payment, or earnout payment. That’s why they need to know how to run and operate an Amazon business before taking over your business. Buyers that are also Amazon natives will have an established workflow for your business even before buying it, while inexperienced purchasers will decide what to do with it afterward.
This could lead to some nightmare scenarios – financial loss, overtaken by the competition, and eventual insolvency. If this happens, you will lose your stability payment or your earn-out payment.
Now you know what to look for in a buyer, and how to determine if they are a good fit for your needs – it’s time to find out how to research and make a valued judgment.
With a myriad of information out there, doing research can seem like a daunting task. To make sure you’re getting an honest answer, the first step is to check the buyer’s website. Look for clearly displayed information: details, guides, and even reviews. Make sure to Google the buyer’s name and see what type of information pops up. Speak with anyone who may have a business relationship with the buyer. Lastly, don’t be afraid to reach out to them and ask for proof of past transactions – schedule a call so they can walk you through the entire process, step by step.
Schedule a call today with Benitago – click the Contact Us button on the top right.