Hey /biz/, I need some advice.
Long story short - I have an online business and have been contacted by a larger competitor saying they might want to buy me out. I am speaking to their CEO on Thursday. The price would be 5, possibly 6 figures.
I have been thinking about how to price my assets and what factors to consider. Obviously there is the monthly profit and the SEO I've built over the years (assuming they want to take the domains as well as the user base and content).
However, as I'm sure you can tell, I'm an amateur at this, in fact this project I'm selling started out as a hobby, in the fantasy sports niche. I've also never sold anything of this size in my life. I am a programmer.
Can /biz/ give me any advice as to the following:
1) What factors outside my own profits should I consider when setting my price?
2) What should I research about the competitors and/or the market?
3) Anything else you think may be useful.
Can someone please take a break from worrying about Bitcoin and help a brother out?
try to milk him for as much money as possible. start high when making the deal. take money and funnel it into another website. you already know all your keywords and what seo worked for the website so just buy a shitload of content and out rank your original/competitors website.
Starting high is a given, what I'm after is figuring out what to settle for when he inevitably starts low.
Nah, I'm leaving fantasy sports after this, if the sale goes through. I'm tired of doing customer service for entitled teenagers.
What's X? What I've read ranges from 10 months to 5 years.
>when he starts low
Make sure HE starts.
you've prob already seen this, nor would it be a giant help
i can't tell you what X is. i dont know your business. also, remember, you have taxes to pay when you sell the business.
>Make sure HE starts
This I always try to do when I take freelance jobs etc.
I guess I'll prepare the best I can, shine a good light on my business and ask him what he thinks it's worth before proceeding with the negotiation.
Do not, under any circumstances, sell a company for anything less than 6 figures.
I can't even fathom putting in so much work into starting a business only to sell it off for for such a measly price
Been through this a couple times. Best I can say is play close to your vest. Never let them see your customer list until they've paid for it, once you set on the price get it in writing, only agree to a year or less non-compete, and get as much as you can.
Yeah I wonder about this too...
I used to work for a payroll company selling payroll services. I have a call list of about 500 companies. The list includes contact names, info, company size, notes on the company, revenues, etc..
I'd like to sell it, but specifically signed an NDA and noncompete. Will I get fucked if I try to anonymously sell this list to a competitor? How much could I get for it?
You can send them the data anonymously, but there is no reliable way to get paid anonymously unless you plan to make a cash exchange.
Sounds like a risky proposition, this is certainly considered theft or even industrial espionage.
Abort mission unless you have a fool-proof plan.