Fast. Safe. Simple. Investing in online business has never been easier. The Empire Flippers Podcast discusses buying and selling websites, investing in online assets and businesses, and discusses the successes and failures that come with online entrepreneurship.
The Looming Crisis and Shining Opportunity for E-commerce Entrepreneurs With Greg Elfrink
The online business world is notoriously fast-paced, so it’s often difficult for digital entrepreneurs to stay up-to-date on industry trends. We hear phrases like “supply chain crisis” and “Amazon product launch changes” mentioned in the news, but how will these industry changes affect you?
Our very own Greg Elfrink, the Empire Flippers’ Director of Marketing, has the answers you’re looking for! After having deeply immersed himself in the online business world for the past 5 years, Greg knows the ins and outs of the online business world.
Greg joins us to discuss the positives and negatives of the current state of the industry and why sellers need to pay attention to the market. He walks us through the impact that the looming supply chain crisis could have on e-commerce businesses and the best ways for buyers and sellers to navigate the tough times ahead.
Greg explains why the market is perfect for exits, and how sellers can get a jump on their competition by cutting the queue and selling their businesses before the new year.
After The Exit
"With stocks, you could be looking at a 10-12% ROI, whereas with websites you could be looking at 100% returns year-over-year."
This is just one of the many golden nuggets you'll hear from this episode with Lucas Carlson, a programmer who managed to raise $10 million in VC funding for a business idea, sell it to a Fortune 150 company, and turned the windfall into a lifelong cashflow.
This time, Joe and I check in with Sarah and Branden who spoke with Lucas who shares how he invested the capital into building an online business portfolio that could sustain him for many years. By tuning in, you'll hear some really smart tips on what you could do if you're thinking about selling or have recently sold your business for life-changing money and want to put the money into an investment vehicle that will keep generating income.
Speaking of building life-changing money, our featured listing is a dropshipping business in the entertainment niche. A "business in a box", the business comes with a large social media following and it's easy to pick up to learn how to run.
Introducing EF Capital
The industry of online businesses is still a growing niche. We hear a lot of people who want a piece of this pie as well.
Joe and I are joined by Mike Vranjkovic to explain what the EF Capital program is, how it works, and how you can participate.
The program was born in 2014 over discussions about an age old problem where skilled entrepreneurs don't have the capital to buy bigger listings, and investors don't want to buy an entire business or learn a brand new skill set.
In a nutshell, the program helps investors turn an active investment into a passive one by partnering them with operators who will help manage acquisitions. And the program helps operators gain leverage in buying online businesses that aren't available through traditional financing (like SBA loans) without having to learn new skills like investor relations and how to set up an investment fund. Instead, operators stick to what they know best - fixing and scaling digital assets.
If you're looking to buy an online business to replace your job, check out our featured listing. It's an Amazon FBA business created in April 2017 that sells specialty shoe products. It's a job replacement for income (earning ~$10,000 each month in profit) and time as well, since the seller only needs 2 hours each week to run it.
6 Signs Your Buyer Is BS
Ever feel a deal's going south with every word that comes out of a buyer's mouth?
Usually, your gut instinct is on the money. B******t buyers are a seller's worst nightmare. While you were entertaining a buyer who made all the right noises at first and turned out to be a dud, you might have missed out on speaking to an actually qualified buyer.
Joe and I wanted to share common tips and tricks these types of shady characters use so you can avoid unnecessary heartache.
Our featured listing in this episode is for an Amazon Associates and affiliate business that has a well-established domain, a good backlink profile, requires minimal effort to maintain, and has diversified earnings. It could be a really good purchase for someone who wants to focus on building just one brand instead of managing lots of different businesses.
Buyer Negotiation Tactics
It's been a good year for us at Empire Flippers, even in the midst of this pandemic. Our industry keeps growing and the proof is in the pudding—we have over $1 billion in verified proof of funds from buyers on our marketplace.
That's why in this episode, Joe and I really wanted to shared some great negotiation tactics that all buyers can use when finding the right deal for them.
We'll talk about why and how you should consider a seller's emotional equity in a deal, managing expectations so you can agree on a sales price everyone's happy with, and how to set your buying strategy depending on the types of deals you're going after.
Our featured listing in this episode is for an Amazon FBA business that's had strong year-on-year growth and doesn't need much effort to maintain right now. It's ideal for a one-man band type of operation, and there's room for diversity outside of Amazon while having plenty of avenues to explore within Amazon too: a great option for someone who's looking for a hands-off business that pulls in a healthy amount of income while having lots of opportunity to grow.
There are tons of helpful and exclusive tips, so tune in and take notes!
How To Buy For Value In 2020
Who doesn't love a good deal?
But for online businesses, a great deal doesn't always mean buying at the lowest price.
In this episode, Joe and I talk about what a great deal looks like when you're shopping for a digital asset in 2020.
We'll talk about what value looks like and discuss some of the practical things to look out for when you're doing your due diligence, like how many hours you actually need to manage the business, and why you shouldn't go into an uncomfortable niche even if it has loads of potential.
Our featured listing in this episode is for an Amazon FBA business that ticks a lot of these boxes for value. It's not a business we normally list on our marketplace, but there's a lot of opportunity for the right buyer - it's well-balanced, has multi-channel revenue, and could be a great deal for you.
Entertaining, insightful and actionable! 🔥
Whether you’re well established as an online entrepreneur, or just getting started carving out a profitable niche that’s ready to grow - this is a must-listen podcast for you! Justin and Joe do an incredible job leading conversations that cover a huge breadth of topics related to the ins and outs of building a thriving eCommerce business - and life you can be proud of - with leaders who’ve actually experienced success themselves. Highly recommend listening and subscribing!
There are few podcasts that are as insightful as the Empire Flippers Podcast with Justin Cooke and Joe Magnotti. Joe and Justin are excellent listeners, and their commentary with their guests provide the listener with a multitude of varying opinions and perspectives about the nuances of entrepreneurship. The format of the show is fantastic and fresh. Keep up the good work!
Great Podcast for Founders
I follow the Empire Flippers site as well as the podcast. Although I’m currently building a startup and not looking to buy a business, these guys offer tons of value for entrepreneurs.
One example - I listened to their podcast where they interviewed the founder of Mercury bank. I just happened to also being looking for a new bank for my startup Menyu (the Startup Menyu podcast follows us). I went online, checked them out, and signed up! I hate the banking process when launching a business, so doing it all online was awesome!
Keep up the great work guys and know that what you’re doing is helping lots of people on top of making money - thats what it’s all about!