Have you ever considered buying an online business? With so many advantages to owning an online business, it’s no wonder that more and more people are looking into getting hold of one. Starting a new business requires a lot of work (and you can’t predict its success), so it is only natural that you may want to take a shortcut.
But buying an online business is not as easy as entering any other eCommerce store and picking out a product. Or is it?
Enter Empire Flippers, one of the leading marketplaces for buying and selling online businesses, with a large, curated selection of online businesses for sale. Regardless of your experience level or the size of your budget, Empire Flippers can help you find an online business that fits your needs and goals – more on that below.
A Brief Guide to Empire Flippers
Empire Flippers is an online marketplace where buyers and sellers of established digital businesses can connect. The company was founded in 2010 and is now one of the top marketplaces for buying and selling online businesses, with hundreds of listings and thousands of customers.
Empire Flippers’ services include listing, vetting, and brokering online businesses for sale. It also provides services such as business valuation and due diligence. The company has a team of experienced professionals who are knowledgeable in the digital marketplace and can provide advice on how to best buy or sell their businesses.
Needless to say, the website itself is well-designed and easy to navigate. It also provides a plethora of information on each business for sale, including detailed financials, traffic numbers, website analytics, and more.
Possibly the only downside to Empire Flippers is that it charges a 15% success fee on each transaction up to $700,000. While this might sound like a lot, consider the fact that you’ll be saving countless hours of time and effort on researching potential businesses.
More specifically, the transaction fee scales are:
- 15% for sale prices up to $700,000,
- 8% for sale prices between $700,001 – $5,000,000,
- 2.5% for sale prices over $5,000,000.
The Origins of Empire Flippers
Initially, Empire Flippers (EF) emerged as AdSense Flippers, focusing on developing content and offering services for creating small-scale AdSense sites that could be easily flipped. This practice was particularly popular during the 2010s era when ranking on Google with simple, templated sites was a breeze. In essence, EF’s primary objective was to guide individuals in mastering this technique.
Later on, the team recognized an opportunity to pivot when their audience sought assistance in selling their sites. In early 2012, Empire Flippers’ marketplace came into existence. Since then, it has been set on the path of becoming one of the leading marketplaces for buying and selling online businesses.
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Buying with Empire Flippers
Buying an online business through Empire Flippers is relatively straightforward. To secure a listing, follow these six steps:
- Begin by browsing the Empire Flippers website and identifying a listing that piques your curiosity.
- To unlock in-depth information about the selected listing, place a fully refundable 5% deposit via credit card. This will reveal data such as the URL, profit and loss statements, and Google Analytics insights.
- Upon completion of the deposit, you’ll obtain a document detailing various components of the business, including income streams, expenses, as well as user metrics, and monthly page views.
- If the business aligns with your goals and aspirations, arrange a conference call with an Empire Flippers representative who will assist in the mediating dialog between you (the buyer) and the seller.
- Use this call to address any lingering inquiries or concerns surrounding the online venture that surfaced during your evaluation process.
- After coming to an agreement, complete the purchase by paying the remaining balance to Empire Flippers and transferring the website to your account.
Surely, this may seem easier said than done. However, Empire Flippers has done a great job of streamlining the experience to make it as straightforward and convenient as possible.
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What Information Is Included?
When you decide to purchase an online business through Empire Flippers, the team will present you with detailed information about the business. This includes user metrics, monthly pageviews, traffic sources, as well as expenses, and income streams.
In addition to this financial data, upon completing the deposit Empire Flippers will also provide you with access to Google Analytics, social media pages, as well as detailed profit and loss statements. This will allow you to assess the health of the business and make a well-informed decision.
Vetting and Due Diligence
Empire Flippers places a strong emphasis on vetting and due diligence, taking the time to ensure that all listings are legitimate and up-to-date. To guarantee buyer satisfaction, the team also provides an in-depth analysis of each listing. This includes conducting thorough background checks and researching the past performance of the business.
On the one hand, this process excludes a large chunk of businesses from their marketplace, which in turn makes it a little more difficult to enter the market. On the other hand, it also makes sure that all Empire Flippers listings are of high quality and will meet buyer expectations.
Selling with Empire Flippers
Selling your online business can feel overwhelming – you’ve put in countless hours and resources to develop your venture, and now you want to get the most out of it without going above and beyond with marketing efforts.
Luckily for you, listing your online business on Empire Flippers is not much different from listing a product on Amazon. All you have to do is provide Empire Flippers with all the necessary information about your business and its performance, as well as answer any questions potential buyers may have.
Submitting Your Business
The first step you need to take to sell your business is, without a doubt, submitting it. Empire Flippers offers an effortless submission process where all you need to do is provide some basic information about your business. Once you have completed the required fields and submitted your application, the experts at Empire Flippers will immediately get to work evaluating your submission.
This may take a while but usually not more than a few days for the review process to be completed. Throughout this period, you can rest easy knowing that your business is being thoroughly assessed by professionals who have vast experience in the online marketplace.
Getting Your Listing Approved
Once your business submission and evaluation are complete and your business meets the necessary criteria, your listing will then be approved. At this stage, the team at Empire Flippers may reach out to you if they need any additional information about your business for vetting or marketing purposes. Proper disclosure of important details ensures smoother sailing in the sales process and helps potential buyers make informed decisions.
With all the relevant information obtained, Empire Flippers can confidently present your business to their extensive pool of buyers. Having a professional presentation not only adds credibility to your listing but also increases the chances of attracting serious investors who recognize the value of quality online businesses.
Publishing Your Listing and Accepting Offers
Once the quality and viability of your business listing are secured, it is time for Empire Flippers to leverage their vast marketing resources. Your primary point of interest is the thousands of potential buyers that will see your listing, which could result in multiple offers for your business. Empire Flippers doesn’t stop at merely promoting your business; they also analyze each offer and help to separate serious investors from mere tire-kickers.
This time-saving step ensures that you, the seller, can focus on the best possible offers as they come in. This way, you avoid unnecessary delays and can sell your business efficiently without sacrificing its worth or falling prey to buyers who are merely looking for bargain opportunities.
Once you receive suitable offers, the negotiations begin. Empire Flippers’ brokerage experience comes in handy at this stage, as they help you navigate through more complex negotiation discussions. Having a trusted intermediary can dramatically boost your chances of securing a better deal for your business.
Accepting the Offer and Closing the Deal
When both parties have reached a consensus and agreed on the terms, it’s time to celebrate your accomplishments as you prepare to transfer ownership. After all, selling a website or online business is no small feat! At this crucial stage, Empire Flippers ensures that the transaction goes smoothly by providing guidance on structuring deals, valuation adjustments, and facilitating a lightning-fast close.
The final step in the transaction process usually entails transferring the assets associated with your business. Empire Flippers can assist with website migration and handover of digital properties to provide both parties with a seamless experience while reducing any potential post-sale hassles.
Now that you have successfully sold your website or online business through Empire Flippers’ value-driven platform, you can enjoy the fruits of your labor or even reinvest the proceeds into another promising venture.
Pros and Cons of Trading on Empire Flippers
- Wide selection of businesses for sale – Empire Flippers offers a vast array of businesses for sale, ranging from e-commerce stores to content-based websites, dropshipping businesses, SaaS products, and much more. The platform ensures that all listings are thoroughly vetted and priced competitively, providing buyers with an ample selection to choose from.
- Experienced team – The experienced team at Empire Flippers is composed of industry experts who have a wealth of knowledge and experience in the online business world. They can provide valuable advice to buyers and sellers alike, offering guidance on everything from due diligence to negotiations and beyond.
- Easy-to-use platform – Empire Flippers’ website is intuitive and user-friendly, making it easy for buyers to navigate and find the perfect online business for them. The platform includes advanced search filters that allow buyers to narrow down their search based on their budget, niche, and other relevant factors.
- Fast transaction process – Empire Flippers has a streamlined transaction process that ensures deals go smoothly and quickly. The platform provides guidance and support throughout the entire process, from the initial offer to the final transfer of assets, making it a stress-free experience for both buyers and sellers.
- High success fee – While Empire Flippers’ services are undoubtedly valuable, the platform charges a 15% success fee up to $700,000. This cost can be a significant deterrent for some buyers, especially those who are looking to purchase a lower-priced business.
- Lack of customization – Empire Flippers’ listings are relatively uniform, with limited options for customization. This means that buyers may not be able to find the exact type of business they’re looking for without extensive searching and filtering.
- No guarantee of success – It’s important to remember that investing in an online business comes with no guarantees of success. While Empire Flippers boasts an impressive 80% success rate, buyers should still conduct thorough due diligence and carefully consider all risks before making a purchase.
Empire Flippers Alternatives
If you’re looking to buy or sell an online business but don’t want to go through Empire Flippers, there are some alternatives to consider.
If Empire Flippers claims to be the best online business trading website, Flippa is the close second. It also offers users the opportunity to buy, sell, invest, and flip websites easily. The website has a user-friendly interface that allows shoppers to search for existing websites based on product category, niche, age, traffic levels, or revenue. Users can view featured listings and popular websites to stay informed about what’s trending.
However, using Flippa comes at a cost; sellers must pay a listing fee which starts from $49, while buyers are charged a final value fee ranging from 5% to 10%, depending on the price of the business being traded. Once both parties agree to the terms and conditions of sale/purchase, Flippa helps facilitate payment processing and transfer procedures.
FE International takes a unique approach to online selling by prioritizing individual deals and providing buyers with detailed analytics about the websites for sale. They guide clients through the entire process, from creating a listing to establishing an offer, and offer an extensive knowledge base to help buyers make informed decisions.
Their personalized approach can be seen in pricing and commissions as well. Buyers receive a detailed breakdown of all costs, and browsing available listings is free. To be listed on the site, sellers must pass a rigorous vetting process and provide proof of ownership.
Acquire.com is a marketplace that specializes in helping entrepreneurs buy or sell startups in the tech industry. However, the platform is not limited to tech startups only, as it also includes eCommerce sites and food delivery services. The site offers an intuitive user experience with accurate data on key metrics like lead generation, financial snapshots, and audience analyses.
While Acquire.com is a free online selling site for those who only want to view public listings, private listings require a Premium or Platinum plan for $390 or $780 per year, respectively. However, the platform does not charge commission fees for those who want to sell their online business and even provides help with tax and other paperwork related to the transaction.
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Is Empire Flippers Right for You?
At the end of the day, the decision to buy or sell an online business via Empire Flippers is one that must be made on an individual basis. It’s important to consider all factors before making a decision and weigh the pros and cons carefully.
Empire Flippers offers a great platform for buyers and sellers that want to make a quick transaction without getting bogged down in details. The streamlined process makes it easy for buyers to find what they are looking for, while sellers can easily list their businesses and get them sold quickly. Buyers should also note that Empire Flippers has a high success rate, with over 80% of transactions resulting in successful sales.
However, the 15% success fee may be seen as prohibitively expensive by some buyers or sellers who are not confident in their ability to negotiate lower fees with other platforms. At the end of the day, it is important to make sure that you are comfortable with both the cost and convenience of Empire Flippers before committing to a transaction.
Trading online businesses can be a great way to make money, but it is not without risks. With the help of Empire Flippers, though, you can buy or sell an online business safely and conveniently. The team at Empire Flippers has experience in the digital marketplace and provides excellent guidance and support throughout the entire process.
Whether you’re looking to buy an established business or sell one that you’ve built up from scratch, Empire Flippers is worth considering as your online marketplace of choice – and you can always compare it to other options to find the best fit for your specific needs. So, give it a try and see if it’s the right choice for you.