Table Of Contents
What Is Buying An Existing Shopify Store All About?
Buying an existing Shopify store means acquiring an already operational e-commerce business.
These stores are pre-designed, typically stocked with products, and may already have traffic, customers, and sales.
When you buy one, you’re essentially stepping into a business that’s ready for you to take over and grow.
Types of Shopify stores you can buy include:
Established stores: These stores have consistent sales and an established customer base. They offer you a quicker path to profitability.
Flipping stores: Entrepreneurs buy underperforming stores, make improvements, and sell them for a profit. These are typically short-term investments.
Niche stores: Focused on a specific category of products, these stores can be appealing to entrepreneurs looking to enter a specific market.
Which one of these types of stores appeals the most to you?
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Growth-Focused Strategies – From sourcing to marketing, we drive growth and prepare you for a profitable exit.
Expertly Managed Exits – We build a high-value brand designed for a Lucrative exit.
Why Buy an Existing Shopify Store?
There are several compelling reasons why purchasing an existing Shopify store can be an attractive option as outlined below:
1. Save time: Starting an e-commerce store from scratch can be a lengthy process. With a turnkey Shopify store, you get a fully functional website with products, design, and logistics already set up. This allows you to hit the ground running, focusing on growing the business instead of spending months building it.
2. Instant revenue stream: By purchasing an established store, you gain immediate access to an income stream. Depending on the store’s history, you could start generating sales as soon as you take over.
3. Proven business model: An existing Shopify store has already been tested in the market. This means you’re buying into a business with an established track record of products and customer preferences, reducing the risks of starting from zero.
Where Can You Buy an Existing Shopify Store?
There are several platforms and marketplaces where you can find existing Shopify stores for sale.
Each offers different types of listings and tools to help you assess the business.
The top platforms include:
1. Exchange Marketplace (by Shopify)
Shopify’s own marketplace allows store owners to list their businesses for sale. You can browse through stores by category, revenue, or industry, making it easy to find one that matches your interests.
2. Flippa
Flippa is a popular online marketplace for buying and selling digital businesses, including Shopify stores. It offers both auction-style and direct purchase options, and you can find stores of all sizes, from smaller ones with potential to large, profitable businesses.
3. Empire Flippers
Empire Flippers specializes in high-quality online businesses, including Shopify stores. The platform thoroughly vets its listings, providing more transparency for buyers and often higher-quality businesses.
4. Private Deals
Sometimes, Shopify stores are sold privately. Networking within the e-commerce community or reaching out to Shopify store owners directly can help you find businesses for sale that aren’t listed on any marketplace. On this note, you may want to check our exclusive ecommerce brands for sale listings of carefully selected deals that arent listed on the common marketplaces.
How To Buy An Existing Shopify Store
The process of buying an existing Shopify store involves multiple steps. Here's a clear breakdown:
Step 1: Research
The first step in purchasing any business is conducting thorough research. For Shopify stores, this means evaluating the store’s niche, sales performance, traffic sources, and customer demographics. Utilize tools like Google Analytics and Shopify Analytics to get a comprehensive view of the store’s performance.
Step 2: Understand the Terms of Sale
Another crucial step is to make sure you understand exactly what is included in the sale. This might include the website, domain, product inventory, customer lists, and social media accounts. Ensure that you know what you’re getting and whether any obligations come with the sale (e.g., ongoing support from the seller).
Step 3: Due Diligence
Due diligence is one of the most important steps in buying an existing Shopify store. This includes verifying the store’s financials, checking for any outstanding debts or liabilities, and ensuring the store is compliant with Shopify’s terms of service. You should also request information like profit-and-loss statements, tax returns, and any other relevant financial documents.
Step 4: Negotiate the Deal
Once you’ve done your research and due diligence, it’s time to negotiate the terms of the deal. Consider using an escrow service to protect both parties during the transaction. The negotiation will cover the purchase price, payment terms, and any post-sale obligations.
Step 5: Finalize the Purchase
Once all terms are agreed upon, you can now proceed with finalizing the transaction. You’ll need to handle the transfer of ownership, which may include transferring domain names, social media accounts, and customer data. Ensure all legal paperwork is completed properly to transfer the business to your name.
What To Look for When Buying a Shopify Store
When evaluating a Shopify store to purchase, here are several key factors to keep in mind:
1. Traffic and customer data: Check whether the store is receiving consistent traffic and which channels are driving it (e.g., organic search, paid ads, social media). Analyze customer data to ensure the store has a loyal customer base and solid engagement.
2. Revenue and profitability: Review the store’s past revenue and profit margins. A steady increase in sales over time is a positive sign, but if revenue is declining, you should consider why.
3. Product inventory: Evaluate the store’s product offerings. Are they in demand, or are they niche products with limited appeal? Also, check the supplier relationships—having reliable suppliers can make or break an e-commerce business.
4. Marketing strategy: Assess whether the store has an established and effective marketing strategy, including SEO, social media presence, email marketing campaigns, and paid ads. A well-optimized marketing strategy can provide a solid foundation for scaling the business.
5. Operational complexity: Is the store easy to manage, or does it require technical expertise? Ensure you can run the store smoothly after the transition.
6. Legal and financial considerations: Ensure that the store is legally compliant, and check for any ongoing legal or financial issues, such as taxes or intellectual property rights.
We Help You Buy / Build, Manage and Scale E-commerce Brands for an EXIT
E-commerce Simplified for Busy Individuals – We handle the buying, building, and scaling, so you can focus on what matters.
Growth-Focused Strategies – From sourcing to marketing, we drive growth and prepare you for a profitable exit.
Expertly Managed Exits – We build a high-value brand designed for a Lucrative exit.
Risks and Challenges of Buying an Existing Shopify Store
Although buying an existing Shopify store can be a great opportunity, there are risks involved.
Let’s briefly discuss them below:
1. False or misleading information: Be cautious of stores that are misrepresented. Some sellers may inflate their store’s performance, so thorough due diligence is essential.
2. Hidden costs: You might encounter additional costs that weren’t immediately obvious, such as expensive marketing campaigns, app subscriptions, or operational costs.
3. Changing market conditions: Market conditions can change, and a business that was profitable yesterday might not perform as well today. Stay aware of shifts in demand and competition.
4. Management overload: Buying an existing business requires management skills. If the store requires substantial day-to-day management or technical expertise, it might not be the right choice.
How To Successfully Scale An Acquired Shopify Store
Once you’ve purchased a Shopify store, the next step is scaling it.
Here’s quick TIPS on how you can grow the business:
Tip #1. Utilize existing assets: Take advantage of the existing traffic, customer data, and marketing strategies. You can further optimize these assets to increase sales.
Tip #2. Optimize operations: Look for areas where you can streamline the operations—automate tasks, improve the website user experience, and reduce costs.
Tip #3. Expand marketing efforts: Boost your store’s visibility by leveraging SEO, paid advertising, influencer marketing, and email campaigns.
Tip #4. Introduce new products: Consider expanding the product line or introducing new offerings that interest your customer base.
Conclusion
Buying an existing Shopify store can be a great way to jumpstart your e-commerce journey, saving you time and effort while providing immediate revenue potential.
However, it’s important to conduct thorough research, due diligence, and negotiation before making the purchase.
If you approach it strategically and thoughtfully, buying an existing Shopify store could be the quickest route to e-commerce success.
Need help buying an existing Shopify store? We’re here to guide you every step of the way. Our experts will help you find the ideal store, handle due diligence, and manage negotiations on your behalf.
Plus, we’ll operate and scale your store, and when the time comes, we’ll ensure you exit with up to 10x the value.
Take the first step toward building your e-commerce empire today. Click Here to discover how we can make it happen.
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