Building an online business from scratch is a daunting task. An entrepreneur would know this. There are a lot of things that go into consideration when you must start right from deciding a brand name to a tagline, figuring out your niche, building a website, building an email list, marketing the products or services, creating a social media account, creating content, designs, social media strategy and much more.
Buying an online business for sale is lucrative as the established business can pay off better in the long run rather than starting a new one from scratch. It does take a lot of time before your online business starts making money or becomes profitable. In such cases comes the question of doing the above process to make your business thrive or looking into an existing online business for sale.
Surplus Central, a multi-vendor marketplace in Canada, is the perfect marketplace to buy and sell a business online. Greg Elfrink once stated that buying a business not only lets you skip the timeline and hard work to establish the company, but it brings you to the established game with complex data and lets you know what works and what doesn't. In an easy language, buying an online business or a website for sale is an easy way to make money.
Benefits of buying an online business for sale
With a lot of ideas coming to your mind, buying a currently thriving business is more beneficial than setting up a whole new industry.
- Robust or well-built foundation - The initial phase of setting up and running a business is eliminated as the company is already online and running.
- Securing finances - Established business with a proven track record has more scope of getting any funding.
- Good customer base - If the business has been running for a while, the company is sure to have a suitable existing customer base.
- Existing Brand awareness - There is little effort needed to create awareness of the brand and its reputation
- Existing trained team - Taking up an existing business comes with an added advantage of a professional and skilled team.
- Business problems solved - The established business has the benefit of solving business issues and using cases.
- Definite Income - Due to the established database, there is already a steady income in the funnel.
Where to get started?
When we talk about buying an online business, it's just not about a website. You purchase the entire company with a proven track record of products or services and customers, marketing tactics, proven methods to generate leads, established social media presence, a whole database, policies and procedures, employees and much more. Getting a growing business is a turnkey opportunity. Letting it run as it is or introducing new techniques is up to the buyer to boost the sales.
A study done by Statista Research Department in April 2022 states that there were five billion internet users worldwide, which contributes to 63 per cent of the global population. The social media users out of this are 4.65 billion, over 93 per cent.
The best part is that a buyer's worry while starting an online business becomes null as the seller has set specific procedures and policies. 'Surplus Central's multi-vendor marketplace Canada and a small training from the seller on how to run or what to take care of, the buyer is all set to rerun it successfully. Before you buy an online business for sale or a website for sale, here is what the buyer needs to consider
Buying and selling online at a multi-vendor marketplace in Canada is easy with Surplus Central, but at the same time, the cost of buying also is essential. Successful ecommerce platforms or websites can be pricey, with tens to hundreds to thousands of Canadian dollars. But if you are looking for a few hundred or a few thousand Canadian dollars for an ecommerce platform or a website, Surplus central's multi-vendor marketplace can be the best in helping you find one. One needs to consider and measure its worth against building an ecommerce platform alone.
Here are some checkpoints to keep in mind when deciding to buy an online website:
- The business has a viable and validated business model.
- Business is growing
- Buyers should check for the traffic sources, the backlink profile and metrics. If the business is most established, it will provide access to Google Analytics.
- It has multiple streams of consistent income from various products/ services.
- The marketing tactics have been set and well proven.
- The business has excellent operating processes.
- The financials and accounting processes have been sorted.
- The monthly overheads and expenses and cost of customer acquisition are mentioned.
- The media presence of the brand affects the buyer's purchase decision. 48% of buyers mention that their buying decision from a brand is influenced if there is inadequate media coverage.
- Customer testimonials of customer service are also an essential factor.
- Whether AdSense monetizes the website or not. AdSense is a blue-chip constructive feature, and it is an indication of a good content website.
The below list needs to be taken from the seller:
- Domain(s) & Hosting Account
- Customer Service Account
- Advertising & affiliate account if any
- Logo, website content, images, and graphics
- Social media credentials
- Client database (email lists)
- Source code repository
- Database repository
The Internet has become an enormous breeding ground for making money, from delivering SaaS Services through the cloud to drop shipping products sold through e-commerce websites, attracting customers to affiliate networks, and leading data and information sold to multinationals.
When you have a business to buy, you know where to land! Surplus Central's multi-vendor marketplace in Canada can provide you with the best websites for buying and selling online or grabbing an online business for sale.