Where to Buy & Sell Online Businesses
Oct 01, 2021
Acquiring a developed SaaS company does not need to be risky, and it is possible to generate great financial rewards without the stress of having to start from scratch.
While the rewards can be huge, buying or selling an online SaaS business is easier said than done, especially if you've never done it before.
From using marketplaces, such as GetAcquired, to understanding the risks that come with buying or selling, we're here to help.
We've compiled an in-depth guide about everything you need to know about where to buy or sell an online business, as well as some quick tips to help you get started.
Are you ready?
The Right Mindset
Having the proper mindset is imperative when it comes to either buying or selling a SaaS business. Of course, these are two different actions that require separate approaches.
Thanks to the rapid development of online marketplaces over the past few years, websites, blogs, and SaaS products can easily be listed online and sold.
Let’s not waste any time. Let's begin with how to get into the right mindset:
Do it for the right reason. Whether buying or selling, you should make sure you have the right mentality. This is vital. Selling shouldn't be your first thought because you're facing a challenge that seems impossible to overcome. At the same time, buying should only be on your mind if you're ready to grow a SaaS firm, as well as develop your business skills while on it too.
Can you make money? Making a profit is any business person's ultimate goal, but do you have the experience and knowledge to do so? In other words, do you know how to make money? Money doesn't grow on trees, so you have to know how to develop a SaaS business properly or ensure that the price you're selling is the right one. You don't want to complete a sale only to discover that you were taken advantage of and lost profit.
Know what you're doing. To avoid dodgy deals and frustrating buying processes, you must use the right platforms. On top of this, don't shy away from enlisting professional help where needed. That's why professionals, namely brokers, exist: to help out people in your situation.
Private Sales Vs. Brokers For Selling A SaaS
Broker services assist buyers and sellers when selling a SaaS business. And to ensure a smooth transaction, they provide extra safety measures for complete peace of mind.
Brokers, however, have several more advantages, like: The SaaS business is vetted for you. This is the single most significant benefit of working with a broker. You reduce the risk on your end, as brokers check if the company is legitimate.
In the SaaS business world, brokers use confidential data to find you the best deals. So, no one will know you’re actively hunting for new buying or selling opportunities, competitors included.
What’s more, brokers ensure a deal goes smoothly while, at the same time, offer legal assistance if things go south.
Brokers often have access to SaaS vendors you won't ever find by yourself, even if you try to. Consequently, some of the best deals or offers are kept in-house, and only brokers can access them.
Now, pay attention: Some brokers are legitimate, but not all. They are either simply negligent or use shady business practices to overcharge or scam you. When choosing a broker to work with, you must do your due diligence.
On that note, it's highly important to be aware of any potential red flags that may raise alarm bells and indicate you should steer clear.
We've included five examples below:
Fact-checking by using screenshots (which can be fake) instead of vetting a SaaS company. As a buyer, this puts too much risk on you.
Anyone can see the full details of a SaaS business listing. You benefit from having a buyer qualification process even if you are the buyer. The broker is screening only serious buyers.
A broker with outdated listings on their website (a SaaS business that has already sold or is inactive but continues to display it)
No migration support
Lying in their marketing for tactical reasons
Sourcing the Right Website to Buy or Sell a SAAS
Many platforms exist if you're looking for a reliable marketplace to purchase or sell a SaaS business. However, determining which ones are worth listing or searching on is a different ball game.
We've taken the stress out of the task for you by compiling a list of the top websites you should use. Sure, you might be already familiar with some of these avenues, but there's a good chance you'll learn something new here.
Perhaps the most well-known marketplace on the internet is Flippa. Websites and domain names can be bought and sold on the site. Over time, the platform has expanded into apps and even eCommerce stores.
One of the most significant advantages of using Flippa is that it's super popular. This means you get access to a large pool of potential SaaS buyers and sellers, and it offers flexible price ranges.
However, because of its popularity, it does come with some cons too. One of the biggest ones being that there are, unfortunately, some scammers and bogus buyers are kicking about.
Because Flippa doesn't carry out the most active form of vetting, this can cause some wasted time. With this said, many buyers and sellers in the SaaS space still have excellent experiences using the platform.
On the other extreme, we have FE International. This agency vets every business listed on its platform, unlike Flippa. They sell only businesses with revenues in the mid-five to the seven-figure range.
With FE International's strict vetting process, you're much more confident in the seller's credibility. It eliminates scams and bogus companies, so you're far less likely to experience any sort of risk.
In addition to this, FE International helps you at every stage of the buying or selling process. They even help you to draft the contract.
Yet, because of the type of vetting process the platform carries out, finding affordable SaaS businesses is hard to come by. That doesn't mean they don't exist, though. It's just hard to discover them. Therefore, you'll likely need a budget of millions to acquire a SaaS company on FE International.
Moreover, the platform does not offer migration services, so you will need to carry out the process yourself, which requires patience and expert help!
Empire Flippers specializes in selling quality online businesses, including SaaS products. As a trusted marketplace, the platform comes with a range of benefits.
The vetting service carried out by Empire Flippers considers both the buyer and seller with a legal team to smooth out any negotiation issues.
Every listing is carefully vetted, as data is reviewed thoroughly, offering complete transparency to prospective buyers.
Fortunately, the migration part of the process is handled by Empire Flippers. This takes the stress out of the admin tasks that come into play, saving time, money, and energy.
GetAcquired is the best online marketplace when looking to sell or buy online SaaS businesses. We can help you close a deal within 30 days and rid you of deals that go nowhere.
If you are a seller, here is how we help sell your online business in 3 simple steps:
Create your listing
Connect your revenue and analytics for review
Sign with GetAcquired
If you are a buyer, we make it as easy as possible to look at potential listings and interact with sellers who our team of experts has previously thoroughly vetted.
No matter what side of the coin you're on, buying and selling an online business via GetAcquired is the perfect place to explore startup investment and sales opportunities.
And, of course, the points above perfectly illustrate just how beneficial it can be to acquire a SaaS rather than start from the ground up.
When you buy rather than build your own SaaS business, you can enjoy many benefits.
An open mind, diligence, and willingness to explore opportunities are all that's needed.
What’s more, you might want to consult a reputable SaaS business broker. Hence, if you need solid SaaS buying advice or would like to make your SaaS hunt a lot easier, we're on board to help.
We have SaaS businesses for sale on our marketplace.
The question is: Do you have a SaaS business that you'd like to sell?
If so, GetAcquired will help you find the best deal.
And we can also assist you in acquiring a SaaS too, and with as little stress as possible.
Your Next Steps
If you're interested in exploring or learning more about GetAcquired and our online marketplace, visit our website to view our handy tools.
From quick valuation estimates and handy blogs on what to expect when buying or selling an online SaaS business, we aim to help everyone.
If you're sold on the idea of using GetAcquired, don't lose time. Get started today!