Now that you’ve negotiated your Amazon FBA deal and are going through the inspection process, it’s time to cash in and close the sale. As an Amazon FBA seller, you need to know how to close a sale and avoid pitfalls that can derail your success.
You must approach the process completely prepared, ready to close the deal as quickly as possible.
In this article, we will walk you through everything Amazon aggregators expect when closing a sale.
Whether you’re selling to an Amazon aggregator or an individual who is expressing interest in your business, you can increase your exit’s earning potential by using a few tried and tested techniques.
Before we dive into each one, it’s important to understand why you need a closing technique in the first place. Many Amazon sellers don’t approach sales with a set plan of action, but that can be a huge mistake.
The key is to be prepared and know exactly what kind of Amazon FBA aggregator you’re dealing with.
Not sure how to structure your exit plan? Here are a few articles to help you:
There’s nothing like acting nervous or too excited that turns a potential buyer away. It’s important to keep a cool head when you’re in the process of closing a sale.
Let’s say you’ve gone through the negotiation and inspection process, but have yet to hear back from your buyer. This is not the time to keep contacting them. You have to accept the fact that the deal is in progress and wait to see if the buyer comes back with any changes to the final purchase agreement.
Make sure you’re always calm when you’re talking with prospective buyers. Don’t try to goad or push them into buying your business. It’s always a good idea to keep your distance and wait for them to make the first move.
Don’t try to force the deal, either. This is one of the biggest mistakes Amazon sellers make when they’re closing deals. And there’s no point badgering an Amazon aggregator with countless messages.
Keep in mind that Amazon aggregators have a lot of money to spend. So the only reason they won’t push through with a sale is if they found discrepancies in your business that lead them to believe they won’t make any profit from it.
Be very clear about why your business offers value to the buyer. This is critical in closing sales as making your business look like it’s worth the buyer’s while can go a long way to ensuring that they eventually buy it.
Don’t just say that you’re selling something because you need the money. Aggregators already understand that you’re selling because you want to make a decent ROI from your exit.
Whatever the reason, it’s important to focus on what value your business can offer the Amazon aggregator you’re dealing with.
Go further than this, though. Be specific about the types of products you sell, so they’ll know what to expect in terms of quality or if it’s an industry they already have an interest in. Make sure they see the value of your business in the long run. At the end of the day, no one buys a business for the heck of it. You’ll only be able to close a sale if your buyer believes that your Amazon FBA business will be profitable in the future.
Negotiating a deal has its ups and downs especially when you go through the due diligence process. The buyer will scrutinize your business and look for any discrepancies and missed opportunities. If they find something suspicious-looking or the predictions for the future don’t add up they may ask for a decrease in price or value multiple.
Don’t be afraid to speak up and explain the potential issues and present your reasoning. In business, it is important to stand still and don’t be afraid to defend your product. This will show that you are passionate about your business and you take care of every aspect.
Observing your client’s needs is an important skill in closing any deal, but it’s especially critical to note when you’re the one trying to close the sale. There’s something to be said for just listening and taking in what the Amazon buyer has to say. It can help you understand their wants and needs more clearly.
Now, we’re not suggesting you should just nod and agree with everything they say. It’s important to pinpoint how your business can benefit them. And if it doesn’t align with their needs, it’s safer to just let them go.
Lending an ear to what your client needs is exactly how you can pinpoint the right strategy. Any Amazon FBA business holds a ton of selling points and value for the potential buyer. It’s important to understand what your client is expecting so you can tell them exactly why your business is the right choice for them.
Every buyer will have questions and doubts about anything they’re investing in. The best Amazon FBA sellers make it a point to help their clients come to terms with these issues that they might have, by addressing them with patience and care.
Ask your buyer what they’re worried about regarding your Amazon FBA business. Make sure you’re giving them the right answer. If they’re asking if your Amazon FBA business will be profitable, don’t promise it. That’s not how you close sales. Instead, give them examples of times when it was profitable for other sellers on Amazon and how they can use this opportunity as well.
Be on the lookout for doubts and concerns that might be part of their initial hesitation. Take care of them and help them come to terms with anything that might be causing them to have second thoughts about your business.
There are probably tons of questions running around in your mind about how to close a sale. We can answer a few for you.
Here are some frequently asked questions and their answers to help you seal the deal with an Amazon FBA aggregator.
The first thing that needs to be done is to select a payment method that will allow you to get paid as quickly as possible.
Amazon buyers and aggregators will choose to have the money in escrow until the final PA (Purchase Agreement) is signed.
This is probably one of the most popular questions on the minds of many first-time Amazon sellers. How long do you have to close a deal? Is it 5 days? 10 days? 15 days? The truth is, there isn’t any set amount of time.
You need to address any concerns the buyer may have and you’re good to go. In most cases, you can expect the buyer to give you just a few days to close the deal. If things take longer, that’s fine too. There’s no reason why it shouldn’t be completed in a week or two at the most.
We covered a lot of ground here with how to close a sale on Amazon and we hope you’ve taken away some good information. Remember, this isn’t the end for closing those deals, but it’s a good start. Just make sure you put these methods to good use and you’ll be closing the sale deal in no time.
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