Amidst the chaos of the coronavirus pandemic, many businesses both online and offline are struggling to make ends meet. Although governments are providing stimulus packages and financial aid to some business owners, these boons can only go so far. One could hardly blame you for wanting to sell yours.
Granted, even if your business isn’t struggling, you may be looking to sell for other reasons:
You could be going through a life change, like expecting a child, or your partner has changed his or her new role at work. Maybe you need a life break. Or it could be that your business has grown to a stage that you’re comfortable with and you don’t have the skillsets to push it to that next level.
There are a few wrong reasons to sell. But there is definitely a right time and a right way to sell.
The only problem is, are there even any buyers right now? Hasn’t COVID-19 thrown a wrench in the gears for anyone who’s looking to sell?
Are there really buyers out there undeterred by supply chain delays and market conditions?
You might be surprised. While it’s true that many business leaders are more focused on making it through the changing landscape than expanding, there are still plenty of people out there looking to acquire new assets. This is especially true for online businesses. It takes patience and expertise to find them.
Believe it or not, there’s actually a huge appetite from buyers at the current moment, with comparatively few sellers. All kinds of buyers reach out to me directly every week to tell me what kind of businesses and price ranges they are thirsting for. In short, there is an extensive and considerable market for the purchase and sale of online businesses.
There are entrepreneurs who even see COVID-19 as a business opportunity rather than a hindrance. Buyers are looking for businesses with growth opportunities, and for many where supply chain, inventory, or marketing issues that have arisen due to COVID-19 they are finding places where they can leverage their skills for quick gains. Businesses that are struggling due to the pandemic may still represent valuable assets afterward, as noted by MediaPost. Not everyone has been hit equally by the economic strain of the coronavirus, after all.
There are still many strategic buyers, private equity firms, family funds, and organizations with large capital reserves on-hand. People and organizations looking to make acquisitions amidst the chaos. Yet even as these buyers look to make opportunistic purchases, values are, for the moment, still holding. In fact, in many sectors, the slowdown for online businesses only lasted a few weeks, at most.
As such, if you’re set on selling, even in the immediate future, it can be done. There is a hungry, capitalized, and intelligent buyer pool reaching out to brokers to get the ball rolling.
About the Author
“Christopher Moore is the Chief Marketing Officer at Quiet Light, which specializes in helping clients sell their internet-based businesses. Additionally, he founded Gadabout Media LLC to inspire, educate, and unite others by creating visually stunning content for clients.”