00:01 - 00:06 | So you mentioned you and your partner are looking to sell an ecommerce store |
00:06 - 00:10 | and wanted to know how much it's worth |
00:10 - 00:12 | and what your options are? |
00:14 - 00:16 | Uh yes, we have a store |
00:16 - 00:19 | We listed on Flippa and it didn't sell |
00:19 - 00:21 | (laughs) ahem, sorry |
00:21 - 00:26 | My friend said if we list on Flippa it would sell |
00:26 - 00:27 | (laughing) |
00:27 - 00:32 | at least in the ecommerce groups... they said |
00:32 - 00:35 | it's very easy to sell your own store |
00:35 - 00:40 | (laughing hard) |
00:41 - 00:46 | My apologies, it's just |
00:46 - 00:50 | so many people do that and it never sells |
00:50 - 00:54 | (laughing uncontrollably) |
00:55 - 00:57 | People on Facebook said it's the best |
00:58 - 01:00 | Yes, I understand. They do say that |
01:01 - 01:05 | Facebook has a lot of "fake ballers" |
01:05 - 01:11 | The thing is, selling your store takes a lot of preparation. And most stores aren't worth much |
01:11 - 01:16 | We used the "valuation tool" and it said our store is worth $248,000 |
01:16 - 01:17 | mhm... |
01:17 - 01:20 | We should be able to get $248,000 |
01:20 - 01:21 | (laugh) |
01:20 - 01:23 | Or more because we're unique |
01:23 - 01:25 | Our store has potential |
01:25 - 01:27 | even with our ad account disabled |
01:27 - 01:39 | (dying) |
01:39 - 01:43 | I don't see why we can't get less than 200k |
01:43 - 01:44 | (still dying) |
01:44 - 01:47 | Or 300k with payments |
01:47 - 01:47 | reasonable |
01:47 - 01:49 | Oh boy |
01:49 - 01:51 | I deserve 300k for the work |
01:51 - 01:54 | I'm sorry, excuse me |
01:54 - 01:55 | excuse me |
01:55 - 01:59 | Valuation tools set some unrealistic expectations |
01:58 - 02:04 | especially because they don't take into account the countless elements that make a sellable store |
02:04 - 02:07 | Wouldn't you agree? |
02:07 - 02:07 | sir? |
02:09 - 02:14 | I listed on Shopify Exchange and didn't sell my store |
02:14 - 02:20 | It sat there for months and all I got were people asking for product links |
02:18 - 02:22 | I listed there too but no luck |
02:22 - 02:24 | (dying still) |
02:25 - 02:27 | My marketer friend ran ads for leads |
02:27 - 02:29 | yeah that sounds like a good idea |
02:29 - 02:31 | yeah but they were all newbies and no one bought |
02:31 - 02:33 | Stop, I'm dying |
02:33 - 02:35 | asking me for product links again |
02:35 - 02:38 | They could be investors though, ready to buy |
02:39 - 02:42 | This unfortunately happens weekly, where store owners are |
02:42 - 02:44 | trying to sell their store but |
02:44 - 02:46 | just like running a successful store |
02:46 - 02:51 | it takes an experienced professional to value your site and help prepare for an exit properly |
02:51 - 02:54 | like Branden Yamada from Ecom Exchange. |