I have an online business, it's been live and making money for over 3 1/2 years. Although it makes money, my wife just had double knee replacement surgery and without her paycheck, I'm not making enough money (not to mention the fun surgery bills). So, it's time to go out and get a "real" job again. I'm guessing I need a business broker, but have no idea how to pick a good one. Anyone have any experience with something like this?
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Thinking about selling my online business
- Thread starter hoyaguru
- Start date
George P Burdell
Lifer
Maybe RossMAN knows
The business makes enough to live off of, but the medical bills (and a few other personal matters) are just too much. Plus with a business like this, there are good weeks and bad weeks. Too many bad weeks in a row would not be a good thing, with the bills piling up. And with my current situation, I don't have the money to advertise any more. My wife is not technical minded, it would take too much time to teach her. It's a fairly automated business, but someone does have to be here to process orders, charge credit cards, take incoming phone calls, customer support, do pricing, etc.
I'd just like to sell it off and get a job, start over.
I'd just like to sell it off and get a job, start over.
MisterJackson
Lifer
Sell it to JLGatsby......he's looking to make a million dollars.
www.batteryfuel.com - I sell batteries and adapters for laptops, camcorders, cell phones, etc.
With absolutely no advertising cost, I get about 500 unique visitors a day.
It's pretty much a middle man operation, I don't stock anything. I get the sales, charge the customer's cards, and forward the sale to the factory in California. They then box up the item and ship it to the customer.
AccruedExpenditure
Diamond Member
What price range are you looking at?
lol, you don't know my wife...
Any business is a lot harder than it looks. If you are selling something, you have to know how to price it. I sell almost 60,000 line items, and have to set pricing for each one. Then you have all the fun of dealing with the government for taxes, UPS and FedEx, Mercahnt accounts to charge cards, etc, it's not for someone who doesn't have a lot of time and know how. Just updating the website and shopping cart can be time consuming. That's why I figured a good broker would be needed.
One other thing: I've been working out of my spare bedroom for all of this time. Sounds like fun, but it's been getting old, I wouldn't mind getting out into the real world and interacting with people other than on the phone.
Well, it varies greatly, depending on how much advertising (and picking the right advertising) is done, the time of year (before school starts is always nice) and a million other little things. At the best, I was making $1000.00 a day profit, doing 50 to 60 sales a day. At the worst, 3 or 4 sales in a day. I can do one sale to a school or military base for hundreds of batteries, or to an overseas account, and make several thousand in profit with one sale. Unfortunatley, these kinds of sales are too few, and as I said, without the money for advertising, it's hard to compete. Whoever buys the business would have to have a little capital to get started to be able to advertise. Back when Overture (then GoTo) first started up, I was paying $500.00 to $1000.00 a day to them, and just about doubling whatever I paid. That was a full time job just adjusting the ppc, but it was worth it. Nowdays, I would probably lose money on Overture, I haven't advertised out there for years. Gotta roll with the changes. Of course, if there was an interested party, all of the buisnesses records would be made available, as to our yearly earnings.
Can't stress enough, I was making this kind of money with a lot of advertising. No money for advertising any more. Wife = two new knees, big operation, lots of money used up, no money left. Can't make it any simpler than that. There are other reasons, but that is the main one.
And if the market changes, now I owe more money. As with the Overture example, what works today may not work tomorrow, there are no guarantees in business. This is an avenue I've thought about, but I can also go out and get a job elsewhere making 50K a year doing a lot less work than running a business (and a lot less headaches).
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