The Steps to Selling an Online Business

Mark Woodbury

Mark Woodbury

Mark is a Co-Founder of Upward Exits. He is a serial entrepreneur with experience in financial modeling, mergers and acquisitions, and online business ventures. When he isn't working or reading, you'll find Mark at the beach or in the mountain with his dog Heisman

To start, fill out our Complimentary Valuation. We will reach out to you to learn more about your business and request more information.

Time: Within 24 Hours

Once we have the necessary information regarding your business, we will provide you with a professional valuation of what we believe your business is worth. Factors affecting valuation include: monthly net profit, age of business, diversification of traffic and revenue, hours of operation and other unique factors.

Time: Within 48 hours

Should you choose to proceed, we will present you with a Listing Agreement. Upward Exits does not charge an upfront listing fee. We only receive a success fee once the business is successfully sold. All of our listing agreements are exclusive for 6 months. If for some reason your business does not sell within 6 months, you may continue to have it listed with us or choose to pursue other options.

Time: Within 1 – 3 Days

Once the Listing Agreement is complete, we will start gathering as much information about the business as possible with the goal of creating a clear and compelling sales packet. Information needed includes, but is not limited to: traffic, financials, standard operating procedures, copies of licenses/trademarks, etc.

Time: Within 2 – 7 Days

You’ll have the option to record an audio interview with us. This interview allows potential buyers to get to know both the business and the seller. Confidential information such as the business URL and the seller’s name are excluded from the interview. The goal of the interview is to give buyer’s a better understanding of the business and the seller.

Time: Within 1 – 4 Days

Once we have all necessary information, we will create a professional sales packet to market your business to potential buyers. The sales packet explains how the business operates and answers most of the buyer’s questions. This document will include the URL and other pertinent information so the buyer can make an informed decision. Potential buyers are screened and sign Non-Disclosure Agreements (NDA) before viewing this information.

Time: Within 7 Days

Upward Exits lists your business for sale on the world’s largest marketplaces of people looking to buy online businesses. In addition, we contact our buyer database and notify them that a new business has been listed for sale.

We will answer as many of the potential buyer’s questions as possible. We weed out any tire kickers and setup phone calls between serious Buyers and the Seller.

Time: Within 1 – 6 Months

Buyers can make cash offers, seek financing, or propose alternative deal structures. It is at the Seller’s sole discretion to accept or refuse offers.

Time: 80% of businesses we list get offers within 6 months.

A contract for the sale of the business is drafted, reviewed, and agreed upon. Legal counsel may be sought at this time.

Time: Within 7 – 14 Days

The Buyer deposits the purchase price of the business in Escrow and is given a 14-day period to verify that the business has been accurately represented.

Time: 10-14 Days

At the conclusion of the Buyer’s due diligence, the Escrow payment is made to the Seller with Upward Exits withholding our success fee.

Time: Within 2 – 7 Days

A critical component of transferring business ownership is the New Buyer Training. The terms of the training are negotiated at the close of the sale. Typically this consists of the Seller training the Buyer for 30-60 days via Skype, phone and email.

Time: Generally 30-60 days

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