Transcribe of “Dropshipping businesses for sale”
Hi, guys, Neil Waterhouse. Diversification, of course, is critical with any business. You never want to have all your eggs in one basket. In this week’s video, I want to share with you another way of generating another income stream. I got a lot of inquiries asking if I have any more drop shipping or importing businesses for sale.
I’ve sold many drop shipping and import businesses in Australia, U.S.A., Canada, U.K., Ireland, South Africa, and Spain
Over the years, I’ve sold many drop shipping and import businesses in Australia, U.S.A., Canada, U.K., Ireland, South Africa, and Spain. And you can do the same as well. Bottom line is there’s a huge demand from people who want to purchase an existing turnkey drop ship or import business. And they’re willing to pay. One business I’ve sold off in the U.S.A. was purchased by a guy in Abu Dhabi. He flew me first class with Eddie Head to Abu Dhabi, just so I could train him for a few days.
Not everybody’s an entrepreneur
Not everybody’s an entrepreneur. The classic archetype of the people who I’ve sold businesses. To over the years have been the people who worked in the corporate world for most of their life. And that could be for the last 20, 30, 40 years. And they’re used to following manuals. They’re not entrepreneurs. Instead they cashed up, and they want to purchase an existing business. You know, often these people, they’ve got their golden handshake after working in the corporate world for. You know, 20, 30, 40 years, and they now want to have their own Internet-based business. They’ve paid the house off, kids have moved out, and they’re looking for an Internet-based business.
They don’t want to build a business from scratch, they want to purchase an existing business
You know, they don’t want to build a business from scratch, they want to purchase an existing business, which is already running, and most importantly, running by itself. And this is one of the reasons I harp on so much about outsourcing. Because if you’re going to sell your business, or part of your business, it must be running 100% by itself without you. The prospective buyer needs to see that you’re not an integral part of the business.
Selling off part of it can be a very lucrative strategy
And your business not just runs by itself, but just as importantly, it also grows every month, by itself, without you. If you’ve already got a drop ship or import business, selling off part of it can be a very lucrative strategy. And it’s another income source as you can keep selling off parts of you business, over and over. And you can do this all over the world. Now I don’t recommend selling your whole business. Just sell off part of it or one or more of your niches. Now what I mean by this is if you have a lot of, say, pet products, toys, garden products, baby products, or whatever, consider opening another eBay or Amazon account, and putting all those items from that niche into that one account and sell it off.
Take a percentage of your listings and put them in another account and sell off those listings.
You can also just take a percentage of your listings and put them in another account and sell off those listings. Now you can normally sell your business for one to four times its annual profit plus inventory. So in other words, if the piece of your business your selling is making say $100,000 a year, you could normally sell it for 100k to 400k plus inventory.
You’ll normally have to sign a no compete declaration saying that you’ll not sell items in that niche
Yes, you’ll normally have to sign a no compete declaration saying that you’ll not sell items in that niche, or into that niche into that country for two to three years. But after two to three years, you’re going to again start to lean back into that niche. And don’t forget, that no compete declaration that you sign is only for that country, so you can continually sell in that niche in other countries and also sell businesses in all different countries in all the 36 other different countries. That’s all this week. Please scroll down, leave me a comment below. Until next week, list more, sell more. This is Neil Waterhouse.