The entire journey associated with a Shopify store is filled with several surprises, joys, and challenges. Through all of this, as a business owner, you might reach a point where you begin to reflect on everything that your business and you have been through. There may also be a point where you may want to put up your Shopify stores for sale. There can be several reasons that you may want to sell your Shopify store such as moving to a new business, having a large capital windfall, and several others. In this article, we will have a look at how you sell Shopify stores and what makes Shopify a prime acquisition target.

Before You Sell Your Shopify Store

One of the main aspects that many business owners tend to oversee is the process that has to be followed before putting your Shopify stores for sale. So, before diving into why Shopify is a prime acquisition target, let us have a look at the things you have to do before going ahead with the selling process. Different business owners may have different journeys on the Shopify platform with the business. When it comes to being an entrepreneur, the ultimate goal is to see their business succeed. As a result, they may turn a blind eye to the actual value and end up overestimating the value of their business. However, the harsh reality is that the value of your business does not solely depend on your efforts and the amount of hard work that you and your employees are willing to put in. Instead, it depends on the actual performance of the business with respect to clients and customers.

So, the first step to take before you put up your Shopify stores for sale is to value your business accurately. You can consider a twelve-month average of your net profit to gain a deeper insight into the value of your business. Along with the value of your business, some other aspects that you should consider are the diversity and the age of your business. The older your business, the more proof it has for sustainability in the market. You can also consider the owned assets and the brand strength of the business. Businesses that have a stronger brand presence among their customers tend to have more value than others.

Why is Shopify A Prime Acquisition Target?

Shopify consists of a versatile range of companies across different markets, segments, and sectors. Within a particular segment or sector, there are a host of companies that offer services and products for the different pain points that are experienced by customers. Due to this diverse nature, many buyers tend to focus on Shopify to acquire new businesses and companies. In addition, it also offers several aspects for business owners to put their Shopify stores for sale. Let us have a look at the three main ways in which Shopify allows business owners to sell their stores.

1. Private Sale

There is an increasing number of communities and online groups available across several platforms that allows business owners to share information about their businesses and position information in a way that they want to convey. These groups and communities also have plenty of potential for buyers to directly reach out to businesses that they are interested in. However, it is important to verify the credibility and the credentials of these buyers before providing further information to them regarding your business for the sale. It is essential to have buyer contacts who are trustworthy and have legal support to ensure the credibility of the transaction during the time of the sale.

2. Marketplaces

Compared to the private groups that are available on Shopify, the marketplaces are typically considered to be a step up. Usually, these marketplaces are regulated to avoid scam artists and any other nefarious activities. However, despite these regulations, the safety and credibility of the sale are solely dependent on the business owner. However, in contrast to private groups, marketplaces allow business owners to take full advantage of the platform to promote their business to buyers. Some marketplaces are also equipped to provide professional advice.

3. Business Broker

This is considered to be one of the most efficient and safest ways to sell your business on Shopify. Typically, an individual broker or a certain firm contacts business owners in case there is a match between their interests and the type of the business. Different brokers usually tend to have their own business portfolio that they abide by in order to purchase a business.

In Conclusion

Due to this variety of reasons, Shopify has become one of the prime acquisition targets for many buyers. Some of the factors that make Shopify attractive for buyers are the versatile companies on the platform, different methods in which buyers can approach sellers, and many others. However, it is always wise to perform a thorough background check about the buyer to ensure their credibility.