TOP 3 TIPS FOR ONLINE BUSINESS ACQUISITIONS
Are you in the market to buy an established online business? Most prospective online business buyers will go on to the numerous online business broker websites and use their business marketplace tool to conduct a search. What they don’t know is that there are thousands prospective buyers doing the very same thing. With a limited amount of viable online businesses for sale, there is a feeding frenzy whenever a good online business goes on sale. Following these tips will position you to be more competitive when buying an existing online business.
Tip #1- Get financially pre-qualified Most business buyers don’t even know if they financially qualify for a business acquisition. With an ultra-competitive marketplace, most business brokers and their sellers will not entertain offers if the prospective buyer has not already been pre-qualified. If they know you are pre-qualified, this will undoubtedly set you apart from the masses. Start by taking our pre-qualification assessment and schedule a call with our team at ecommercelending.com
Tip #2- Establish a business relationship with a successful business broker
Instead of just being just another email address to an online brokerage firm, proactively contact a business broker. This is something nobody does, and it is so effective! Ask for a 15 to 30-minute consultation, and during this call outline what type of businesses you are most likely to be interested in. Make sure to give them your price range and your timetable. This dialogue will be a game changer when a business opportunity arises. Many times they will give you “first look” at a business that is just about to hit the market. Starting your acquisition process at eCommerce Lending will enable us to connect you with the best brokers in the industry, so you can get access to the best opportunities.
Tip #3- Have your lender check if a business qualifies for SBA financing Unlike when you buy a home, when you are acquiring a business, not only do you have to qualify, but the business must qualify as well. To avoid future disappointment weeks into the acquisition process, have your business acquisition lender help determine if the business you are about to place an offer on qualifies for SBA financing. It is a simple step but often overlooked. We can assist with this, so feel free to contact us for more details.