👉 In this article, we show you where to sell your business quickly and to the right buyer. Read on to see your best options.
- Online business-selling marketplaces
- Through a broker
- Through appropriate advertising means
- In online industry groups
- In your own marketing materials
- At industry events
- Connecting directly to your private network
- Private equity firms
Where to sell the business? the best options
Knowing where to market your business is a lot like creating your business in the first place.
💡 In short, you’re not looking to post a generic ad, but rather to find a place where like-minded business professionals to interact
With that in mind, here’s where to market your business and get results.
1. Online business-selling marketplaces
First things first. List your business on popular exchanges and marketplaces, preferably more than one. These marketplaces effectively connect sellers with buyers, giving you a much better chance of selling your business. People who visit such marketplaces are intentionally looking for new businesses, offering you a more targeted experience when looking for a buyer.
Advantages of selling your business on the market.
- Marketplaces offer both paid and free listing options.
- Sellers get profiles with landing pages to sell their business.
- These marketplaces have messaging tools for potential buyers to contact you.
- Marketplaces provide recommendations on what information to share with sellers, such as business revenue, profits, inventory values, and your asking price.
- You gain more targeted exposure than other methods of promoting your “for sale” business.
- Marketplaces often allow unique business listings, for example if you just want to sell a domain name or sell your branding rights.
👉 Now that we know the benefits of these marketplaces, let’s explore the best marketplaces 🛒 to sell a business.
Exchange Marketplace, a selling and buying marketplace from Shopify, allows online store owners to list their businesses for verified buyers. Its unique advantage is that sellers can’t mess with their Shopify numbers, so all buyers know exactly what they’re getting into.
Exchange Marketplace offers curated business profiles to explain sales, list prices and categorize by:
- Type of business:
- Business features
- Sales channels
It’s also possible to make the list private and specify specific requests, such as if you want to retain certain ownership in the business or if you have a specific supplier you’d like to continue working with.
Flippa offers a powerful set of tools to list and sell your online business. There’s a free backup service that ensures you get paid, and a property valuation tool that connects you with brokers to find the right sale price and figure out how to make an offer to the right buyers.
After building your profile, Flippa analyzes your business type and automatically matches you with qualified buyers. You can negotiate on the site, view buyer information and even complete legal documents online.
With tools to keep listings private and an intuitive communication system to stay in touch with potential buyers, BizQuest is a great marketplace to build a listing and connect with a wide network of entrepreneurs.
The best part is that BizQuest is not limited to online businesses. It allows for brick-and-mortar stores, and there are tools for listing based on location, type of business, and revenue.
BizBuySell is part of the LoopNet (real estate sales) and BizQuest networks, making it the leading marketplace for selling businesses. The site offers over 3 million monthly visits and claims 15 times more traffic and sales than the nearest competitor.
You can sell start-ups, real estate, established businesses and closed business assets. There is even a business assessment tool to get things started.
EmpireFlippers provides a rating tool and exchange for listing online businesses (such as websites and apps) for sale. Some leading business categories include:
- Animal care
- Clothing and accessories
- Occasions and gifts
- Survival and safety
EmpireFlippers has a 77% success rate for selling businesses, and we know the site keeps out unscrupulous buyers and scammers. You can quickly create a profile, list business details and communicate with potential buyers in the dashboard.
BFS (business sales)
From brick-and-mortar to online businesses, BusinessesForSale.com helps owners of all backgrounds connect with legitimate buyers, all through email. Just list share your business name , add photos and finance. All your communications are then stored in your inbox.
BusinessesForSale.com has a community of over 1.2 million buyers and there is no commission to sell. just a simple monthly or one-time fee to keep your listing active.
The idea behind WebsiteProperties.com is to give online business owners a smooth transition from their brands. It offers valuation tools and a way to connect with brokers and serious buyers.
They report a 90% “close rate” and over 35k buyers visit the site regularly. It is one of the smaller sites on the market, but it has completed over 600 successful transactions and over $500 million in those sales.
💵 Prices for market places
Every market has its own price. In general, you should expect to pay some sort of monthly fee to keep the listing active, or a one-time fee for a certain period of time.
- BusinessesForSale.com has plans for $99 per month or $299 for six months.
- BizBuySell sells plans starting at $59.95 per month (for a six-month term).
- Flippa varies depending on your valuation, but the starting price is $29 for three months.
2. Through a broker
Some consider markets to be brokers, but they are not. Brokers are companies or individuals who specialize in selling businesses, and they have the contacts and resources to effectively communicate the impending sale of your business.
Business brokers have potential advantages such as:
- Financial support
- Access to professional networks
- It’s someone you can actually call and have a personal relationship with
- They recognize qualified buyers and have application processes for vet buyers
- Fees are usually low, most often with no upfront fees, smaller ongoing listing fees, and a commission at the end.
Here’s how to find a suitable broker.
- Search for business brokers in your area (better to meet in person) on sites like BizBuySell, through trusted business referrals, or by searching local listings online.
- Get a free consultation with your prospects.
- Find out which brokers are communicative, familiar with your industry, experienced and connected to potential buyers.