Buying an internet business can be an exciting time in your life...you are becoming an entrepreneur! However, making money for yourself is one thing, but owning the type of business that allows you to work from anywhere in the world is truly the freest form of entrepreneurship.
Pure-Ecommerce believes you should remember these key points when choosing to start an internet business whether you are purchasing a start-up business or purchasing an already established internet business:
1. Find out why the current owner has decided to sell their business:
a. When you purchase an existing internet business that has run before there is always a reason why the seller has decided to sell it.
b. Be sure that they are open with the reason they have decided to sell their business.
c. Due your due diligence and take nothing at face value.
d. Have your accountant study their P&L's, as well as, their books. If they are refusing to show you these items to you-RUN.
2. Check out the business’ reviews:
a. It is important to ensure they have good customer service performance.
b. Keep in mind you will be stepping into this business and you do not want to be liable or need to repair any past customer service issues. Plus, the good or even bad reviews will follow the business no matter who is the owner. Good customer service = good business!
3. Ensure the current business owners have paid their business taxes:
a. Be sure you can confirm the business owners have paid them while running the business.
b. You do not want to be responsible for someone's past tax issues.
4. Finally, take a look at the site as a whole.
Look at what you like and do not like about the site. If there are some aspects about the look/layout you would like to change you need to examine:
a. How much is it REALLY going to cost you to fix what needs fixing?
b. Will you have to update all the inventory?
c. Is the cart working properly?
d. Does the design need altering?
Remember: the cost you “think” you are paying for your new internet business may end up costing you a whole lot more once you examine all the aspects of the business you need to enhance to make it your own business.
Pure-Ecommerce would like to assist you as you bring your dream of owning your own internet business to fruition. Our consulting services have helped budding ecommerce entrepreneurs for the past six years as we show them the right steps to take as they start their internet businesses - we can help you too!Contact us right now if you would like to learn more about the internet businesses and exceptional consulting services we offer.
Let Pure-Ecommerce be your key to internet business success!