Prepare Your IT & E-Commerce Business For Sale
The right time to sell an IT & E-commerce business is when it is performing at its best. This is mainly because nobody wants to buy a failing business that doesn’t generate enough profit, sufficient to cover even its expenses. So, whether you are running a big company or a personal IT & E-commerce company, it is wise to sell it when it is at its peak. Selling an E-commerce shop or IT company has some interesting variables that make this particular type of business different from a real world or offline businesses.
First of all, you need to make sure all your accounts are up to date. Also, make sure they are professionally prepared for sale. You should be able to back up your claims to grab the attention from potential acquirers. If you don’t have a proof to support your performance claims, you’ll have a hard time selling your company for the asking price.
Business valuation is one of the most important tasks that are carried out by both the seller and the buyer. If you have done it already and have come up with a price, can you justify it? All online businesses have valuations applied on virtual assets like websites, domain names, hosting accounts, SERPs, as well as fluid assets like marketing list. Be flexible to lower the valuation during the negotiation phase.
Who is the sole owner of your company and assets? You need to establish the ownership of your domain names and websites before putting your company on sale. For example, if your web design management company has bought a domain name and hosting on their name, you should transfer that ownership to your name. Alternatively, you should disclose this information to the potential buyer.
Do you have a stock holding IT & E-commerce company? If yes, then make sure all of your company’s stocks have been audited and valued at trade and retail price. Document all suppliers with complete contact and account details for the new owner.
A detailed plan is another important thing that you need to provide to your potential buyer. This plan should contain information about all those things that you use to run your company. This will help potential buyers make a decision about buying your company.
Finally, you will need to pay close attention to crafting a realistic contract sale. Make sure you indemnifying yourself against all and any claims, damages, and losses bright about the actions of the new acquired from the agreed sale date. This is a very important clause that you must include in your sale agreement. It is strongly recommended to hire a professional attorney to prepare the sale agreement. You should also make sure that you and the new acquirer are agreed upon all the clauses that have been included in the sale contract.
In addition to these things, you should consider hiring a qualified business broker or agent. It may be tempting to sell your IT & E-commerce company yourself, but it is not a wise choice. A broker can help you sell your company for the highest price and without any hassles.
Pay close attention the above-mentioned things to sell your IT & E-commerce company for the maximum value and within the quickest time possible.