Small Business

How to Buy and Sell on Exchange by Shopify

Online businesses have become a big hit. In fact, anyone can sell their products online. That being said, you can also find almost anything online as well. From gadgets and computer equipment to clothes, accessories, and shoes, everything is there.

According to Big Commerce, e-commerce is continually growing at a rate of 23% year-over-year. However, more than 46% of small US-based businesses still do not have a website. Luckily, sellers and buyers can easily make transactions by purchasing an already established e-commerce store through the e-commerce marketplace Exchange by Shopify.

What is Shopify?

If you are looking for a complete solution for your online business, then you might want to try Shopify. Shopify is a platform that helps entrepreneurs set up their online store online. All you have to do is to register. At the present time, Shopify has about 250,000 stores owned by Small to Medium-sized Enterprises (SMEs). If buying a store through Exchange by Shopify, then the store you acquire will be hosted on the Shopify platform.

How to Buy and Sell Stores in Shopify?

Shopify is a good platform to conveniently and quickly deal with clients. If you are thinking of buying or starting up a business on Shopify, here are the things you should do:

For Buyers

1.       Look for a business of your interest

Shopify, with over 250,000 stores online, has a wide range of niches you can choose from. Buying and investing in a store that you believe is better than dealing with one which does not interest you at all.

2.       Focus on making money and not on making websites

When you buy an existing store from Shopify’s catalogue, you don’t need to set up your own website or create a business from scratch. Thus, you save both time and effort. Instead, use this time to think about the different ways you can grow your business.

3.       List data directly on Shopify

You won’t have to worry about calculating your business revenue, as you just have it listed directly on Shopify and they’ll do the work for you. Shopify automatically calculates the data you input to give you accurate results.

4.       Communicate with the sellers

In communicating with the seller, you can use the contact form provided by Shopify. It is made to allow buyers and sellers to contact each other conveniently. Be sure that everything is okay and that you won’t have a problem in the long run.

For Sellers

1.       Sell your store in just three clicks

In just three clicks, you can successfully sell your store. Start by installing the exchange app. This app is free and will help you calculate an appropriate price for the store you’ve set up.

2.       Allow Shopify to find a perfect buyer

You don’t have to worry about finding a buyer. Shopify will do it for you. Hundreds of entrepreneurs are looking for a store from the platform, and all you have to do is list your store.

3.       Sell the website at the right price

Do not underestimate your website. Make a profit by selling your store for its right value. This can be calculated not just by looking at store revenue, but also accounting for website traffic, existing email lists and existing supplier relationships.

4.       Communicate with the buyers through email

Prospective buyers will contact you through email so regularly check it. Don’t be shocked if they come from an anonymous sender. Anonymity protects their identity. This makes transactions more secure.

5.       Prepare your store and sell it

Gather all your shop’s accounts, information, and assets so you can officially transfer them to the new vendor. Make sure to also do your due diligence on the prospective buyer to make sure that whoever you are planning to sell your store to will do well with your store.

Final Thoughts

Exchange by Shopify has already helped many entrepreneurs buy e-commerce stores. It helps them make a profit from an old website or set up a new business on the foundation of an existing one. It is definitely a good platform for creating new business relationships and adding value to your e-commerce investments.

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Waqar Hassan is a Blogger, Author and Entrepreneur who heads an IT & Web Company. He loves writing and manages several blogs including OnzineArticles.com, MenaEntrepreneur.org, International-Issues.org, GazetemEGE.com and TechBurgeon.com. He can be contacted at hassan@burgeoningtechnologies.com and followed @HassanGill on Twitter.

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