Can anyone help to sell my internet business?

[Rick F]

Hi there,

I was involved in setting up an internet business and was made a joint partner with my friend in exchange that I did the daily accounts, back-end office duties and all the legal stuff. My partner would do the selling!

Before the official launch my partner got offered a great position as a sales director for a company in Australia so he went and left me with this business, which I was annoyed about because we had invested around £12K between us and I don't have any sales experience (nor do i want too) to start this business up.

During the next 3 years (and with a few more pounds spent) I tried employing staff on a commission only basis and while i was promised the earth from these hot shots hardly anything materialised mainly through lack of committment from their end.

Anyway, cut a long story short, I'm looking for someone who can help sell this potentially rewarding business. I would contact a main stream business broker but I doubt they would be interested in something that historically has generated very little turnover.

Can anyone help? I will offer a very favourable commission as I now just want to get rid of the repsonsibility of keeping a limited company a float.

If interested PM and please note this business I'm wanting to sell if nothing to do with the pvc banner business below

Thanks

Rick

[Grollsta]

Rick, you have my sympathies.

Any buyer is first going to want to see the income stream. Thereafter its a matter of willing seller, vs number of willing buyers.

I dont believe anyone would pay for potential unless the company is like Sun or IBM with an established market presence and brand. Buying or selling a business is not about the emotions you built the company with. Its about cash. Does the business make cash?

[Chauffeur Centre]

what type of business are you trying to sell?

[KateCB]

If the business is not making cash, then why keep it as a limited company? is it VAT registered? Does it need to be? Does it trade on its own as an 'Internet business' or des it really need someone to SELL its services/products?

If its turnover/income is minimal, it may be easier to sell the domain name if it is useful and close the whole thing down?

I think if we knew what type of business it was, more of us would be interested in at least talking - it may fit with something we already do?

[Rick F]

Thanks for the reply.

In a word "YES" someone can generate cash from this business within 15mins (a phone call) and probably pay for the business/website in a day or two if they are any good at selling. Everything is set-up and ready to go and doesn't require any immediate investment.

The customer contacts are available and ready to be approached, the website is fully designed and all the paperwork is ready to issue.

It's just the selling skill that is required and is something that (a) I cannot provide myself and (b) I cannot get someone to do for me without me paying for a salary.

I am only wanting the true reflection of what it is worth now which is a fraction of the initial investment so I am being reasonable but I want a proper judgement from a low fee broker to confirm this.

[Rick F]

Yes, it is a limited company and yes I am filing the accounts myself along with the other ad hoc duties. It is currently VAT Registered but before I wind down the business I thought the tax relief from making a loss in previous years could be a factor in helping sell the business?

Without telling the world of it's domain the website is a bespoke online directory for Bedroom Furniture.

The initial reason for posting my question is to find a small business broker that can other advice on this. I hope someone can assist.

[opencontact]

I'm afraid I can't see where you have something anyone would want to buy. In effect you are selling a furniture directory site, anything else is personnel. Directory sites, even well established ones can be purchased for £100-£200.

[Rick F]

Yes there are many online directories but like I've said before this is a bespoke directory in a low competitive market place.

What you are saying is that a £100-200 website can do the same as a blue chip company who's spent thousands. You simply cannot judge the value of a website until you know what it is built up off and the features it has.

For example, with my online directory you can plan your bedroom by moving parts of furniture around from a particular shop. Would a £200 website be able to do this?

Anyway, I'm not trying to sell or promote my website through a forum, I just need a business broker contact.

Thanks

Rick

[opencontact]

Good luck with selling your business.


Yes there are many online directories but like I've said before this is a bespoke directory in a low competitive market place.

What you are saying is that a £100-200 website can do the same as a blue chip company who's spent thousands. You simply cannot judge the value of a website until you know what it is built up off and the features it has.

For example, with my online directory you can plan your bedroom by moving parts of furniture around from a particular shop. Would a £200 website be able to do this?

Anyway, I'm not trying to sell or promote my website through a forum, I just need a business broker contact.

Thanks

Rick

[billcan]

I also do need someone to help me make sale of my cups,mugs,I don't think they won't have a good market indeed as the high quality and attractive pricing. My blog 's sharing some of them. to be promotional, to be gifts,to be cultery,they are well suited. at " idealproduct.blogspot.com "

[Write My Site]

Hi Rick,

I sold a website last year via acorndomains.co.uk. You can also list it for sale, free of charge, at www.bizsale.co.uk.

[AdvinBiz]

You could also try http://marketplace.sitepoint.com/

Simon

[Techy]

Rick,

I'm confused.

I understood you wanted to offer commission for help selling ... then state it is being sold due to tax losses!

[profitxchange]

RickF
I do not think you will find a lo cost broker. They only take on sales opportunities that have enough value to make a commission for them as well.
If all you need to do is develop some selling skills - that might be easier than selling your site at a loss.
Whu not give it a try - it would be a shame to lose everything at this stage.

[Rhyl Lightworks]

Most people would start their own business rather than buy an existing one, unless the existing one had something to recommend it that they wanted (usually a good client base, which you do not appear to have). You must ask yourself how much would it cost some-one to set up a similar business (in time and money) and then, especially in the present climate, ask about half of this. This still depends on finding some-one who wants more or less exactly what you've got. I presume this is where a broker comes in. I cannot recommend one, but it will cost you nothing to ask any broker what they would try and sell it for.

Barrie

[admagic]

I suspect business agents would show no interest.

You might get interest at marketplace.sitepoint.com - but dont expect big numbers.

I am about to launch a venture in that market, all research done - so have a tiny percent interest in what you have to offer, but clearly would need to know a great deal more....PM if you want me to look.

[fisicx]

Yes there are many online directories but like I've said before this is a bespoke directory in a low competitive market place.

Hi Rick, not a broker so can help ypui sell the business but I'm completely confused as to the aim of the site. How is the prospective buyer going to make any money? Directories are so common place that most businesses are vary wary of anyone trying to sell them listings.

[Chris Ashdown]

I see to major problems with the little info given

One, The site has to be sold to the suppliers of bedroom equipment, very hard to do with a small directory with probably low hits

Two, with little hits why should advertisers ( bedroom equipment suppliers) pay to go on site

Three you have to spend a fortune to get the site listed on first page of google etc

This is assuming the money comes from the advertising from the manufacturers

Not a easy challenge, but all have to start somewhere

[Esk247]

why not get someone to run it for free and offer them the opportunity to start there very own business..ta da...then charge them 15% commission on sales..or something!

at the moment you can't really get the money back that you've invested in it..£12k? you wont get that much for a directory website. I used to run one and got offered £500 for it, which i thought was pretty good considering it had only cost me £9.99 to start it.

so why not keep it and have it in your portfolio of businesses but use it as a training programme for students from the local Uni e.g. business studies and internet sales??? thats what i would do! alternatively offer someone a 50% cut because i presume it can be run remotely so you will not need the other person to move house or give up the day job to get it started.

[SmilePrint]

There are online business brokers,

I believe one is called KNightsbridge.

Type it into google and see, they will offer to consult and value it.

Business brokers are not that hard to find.

Don't know if any exist on the forum.

Regards

B