- Buying Online Businesses Website (https://buyingonlinebusinesses.com)
- Resources for Buying Online Businesses (https://buyingonlinebusinesses.com/freeresources/)
- Investors Club Membership (https://investors.club)
- The FBA Broker Website (https://thefbabroker.com)
- Resources from The FBA Broker (https://thefbabroker.com/resources)
In the past, we’ve talked about getting started with online businesses and have covered the types of business models one can consider for their first and succeeding purchases. Now, we’re diving into FBA businesses to look at what buyers need to know before sealing a deal, what it actually is, and everything else related to make sure you know what you’re getting yourself into, both the pros and the cons.
Today, we’ll be getting insights from Coran Woodmass, founder of The FBA Broker, on how and why he got started with FBA businesses, why an FBA model is not for everyone, and what you need to make it work for you.
We’ll be talking about:
- How and why he got started in the FBA business [01:39]
- Why he’s not actively acquiring sites at the moment [06:50]
- Common things buyers fail to understand during acquisition [10:52]
- Choosing products to sell for an FBA business [13:35]
- Things to consider when doing due diligence for an FBA business [17:06]
- The value of being available on other channels outside Amazon [21:36]
- Researching the ins and outs of your supply chain [24:14]
- Things to check out before choosing an FBA business/brand to buy [27:33]
- How many products should an FBA business have? [34:23]
- What makes an attractive business buyer [35:40]
Coran Woodmass started out as an investor in buying and selling online businesses. In mid-2015, Coran got started as a broker and since then has spoken to 100s of buyers and sellers and been involved in numerous transactions as a broker and consulting on deals. After noticing a trend towards more Amazon FBA businesses being ready to sell and more buyers looking for FBA businesses to buy, he launched The FBA Broker™ in mid-2016.
If you liked this episode, please don’t forget to subscribe, tune in, and share this podcast. There’s a lot more to learn when it comes to buying online businesses, and I’m here to help!
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