46 min
037 – How to Sell a Website: $95,000 from Flipping a Website on Empire Flippers (review of how I sold a business) The Entrepreneur Ride Along Podcast - Online Business and Niche Site Ideas for Entrepreneurs
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- Careers
I just sold one of my websites for $95,000. Today, I will tell you all about how to sell a website, how I flipped my website for $95,000, and I will give you a review of Empire Flippers (the broker I used to sell my business). The business is the "Pomsky Owners Association". A business I started in 2017 as a website to practice my SEO. The website has grown substantially over the past few years, averaging over $2,000 in monthly profit. Through Empire Flippers, I was able to get a 55x multiple of monthly earnings, which put the valuation of my business just under $95,000. I learned a lot along the way selling this business. I first started the process of selling this business on April 27th 2021. I didn't officially list the website for sale until July 6th 2021. I didn't sell the business until August 14th 2021, and I didn't get paid for the sale until December 28th 2021. It's a LONG process, and I messed up quite a bit along the way (which slowed up the process). I talk all about that in today's episode including what to expect when selling your business, the expenses you can expect for broker fees and taxes, and all the behind the scenes in flipping a website. In today's episode I'm going breakdown why I sold my business, share the lessons I learned, and show you how to sell a website on Empire Flippers using my business as a case study. Download the "how to sell a website" step-by-step case study (coming soon) Resources Mentioned:"How to sell a website" step-by-step case study (coming soon)Entrepreneur Ride Along Intro About Pomsky Owners Association (Podcast)Empire FlippersFlippaMotion InvestStep One BookAsk Pat 2.0 Feature
I just sold one of my websites for $95,000. Today, I will tell you all about how to sell a website, how I flipped my website for $95,000, and I will give you a review of Empire Flippers (the broker I used to sell my business). The business is the "Pomsky Owners Association". A business I started in 2017 as a website to practice my SEO. The website has grown substantially over the past few years, averaging over $2,000 in monthly profit. Through Empire Flippers, I was able to get a 55x multiple of monthly earnings, which put the valuation of my business just under $95,000. I learned a lot along the way selling this business. I first started the process of selling this business on April 27th 2021. I didn't officially list the website for sale until July 6th 2021. I didn't sell the business until August 14th 2021, and I didn't get paid for the sale until December 28th 2021. It's a LONG process, and I messed up quite a bit along the way (which slowed up the process). I talk all about that in today's episode including what to expect when selling your business, the expenses you can expect for broker fees and taxes, and all the behind the scenes in flipping a website. In today's episode I'm going breakdown why I sold my business, share the lessons I learned, and show you how to sell a website on Empire Flippers using my business as a case study. Download the "how to sell a website" step-by-step case study (coming soon) Resources Mentioned:"How to sell a website" step-by-step case study (coming soon)Entrepreneur Ride Along Intro About Pomsky Owners Association (Podcast)Empire FlippersFlippaMotion InvestStep One BookAsk Pat 2.0 Feature
46 min